606 11th NE · Mason City, IA 50401

$139,900

4 bd · 1.5 ba · 1,553 sqft · SingleFamily public records · 67 Days on market

Built 1940 6,350 sqft lot $90/sqft · at area comps Est $147k · at est.

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.6/30.0
• ARV discount +9.6/15.0
• DSCR +8.0/10.0
• 1% rule +6.3/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1.5-bath home offering comfortable living and great extra space! The main level features a bright and inviting layout, while the finished basement provides additional living space perfect for a cozy family room, home office, or entertainment area. Enjoy outdoor living with a spacious deck overlooking a fully fenced-in backyard—ideal for pets, gatherings, or relaxing evenings. The property also includes a convenient storage shed for all your outdoor equipment and a one-stall garage for added convenience. This home offers the perfect blend of functionality, comfort, and outdoor enjoyment—ready for you to move in and make it your own!

Key facts

• One-stall garage
• Finished basement
• Spacious deck

Tags

• FINISHED BASEMENT
• SPACIOUS DECK
• FULLY FENCED BACKYARD
• STORAGE SHED
• ONE-STALL GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.3% in Mason City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#67 in IA, #1,477 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Mason City Community School District (town): math 50% / reading 58% proficiency, ranked #271 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 54 units permitted in Cerro Gordo County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cerro Gordo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 7.4

CMA / ARV

• ARV (median comp): $146,783
• List price: $139,900
• Delta: -4.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1225 N Hampshire Pl Pl	0.25mi	3/1.8 (-1)	1,511 (-3%)	3mo	$160,000	$106	76
934 11th St NE	0.45mi	3/1.8 (-1)	1,564 (+1%)	0mo	$220,000	$141	72
934 11th St NE	0.45mi	3/2.0 (-1)	1,564 (+1%)	0mo	$220,000	$141	71
106 10th St NW	0.62mi	3/1.5 (-1)	1,568 (+1%)	0mo	$164,900	$105	64
654 14th St NE	0.18mi	3/1.8 (-1)	1,690 (+9%)	10mo	$148,000	$88	63
1306 N Rhode Island Is	0.34mi	3/1.5 (-1)	1,393 (-10%)	5mo	$156,000	$112	58
1426 N Rhode Island Is	0.38mi	3/1.0 (-1)	1,409 (-9%)	2mo	$153,000	$109	58
1131 15th St NE	0.65mi	3/1.8 (-1)	1,603 (+3%)	4mo	$254,000	$158	55
807 10th St NE	0.30mi	3/1.2 (-1)	1,332 (-14%)	2mo	$135,000	$101	55
726 11th St NE	0.21mi	3/2.0 (-1)	1,336 (-14%)	6mo	$82,500	$62	54
680 3rd St NE	0.56mi	4/1.0	1,434 (-8%)	8mo	$59,000	$41	53
215 9th St NW	0.74mi	3/1.0 (-1)	1,704 (+10%)	8mo	$128,000	$75	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,165
• Equity at exit: $20,860

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $20,253
• Equity at exit: $12,096

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 50401

• Active inventory: 158
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $290

Break-even live

Break-even rent $1,213

Max offer price $139,900

Occupancy floor 77%

Sensitivity live

Price	-10% $369	-5% $330	+0% $290	+5% $251	+10% $211
Rent	-10% $165	-5% $228	+0% $290	+5% $353	+10% $415
Rate	-1.0pp $361	-0.5pp $326	base $290	+0.5pp $254	+1.0pp $217

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	44d	1	1.17mi

Listing history 26 events

1. 2026-06-21
   days on market $139,900 Active 67 DOM
2. 2026-06-18
   days on market $139,900 Active 65 DOM
3. 2026-06-17
   days on market $139,900 Active 64 DOM
4. 2026-06-16
   days on market $139,900 Active 63 DOM
5. 2026-06-15
   days on market $139,900 Active 62 DOM
6. 2026-06-13
   days on market $139,900 Active 60 DOM
7. 2026-06-12
   days on market $139,900 Active 59 DOM
8. 2026-06-09
   days on market $139,900 Active 56 DOM
9. 2026-06-08
   days on market $139,900 Active 55 DOM
10. 2026-06-07
    days on market $139,900 Active 54 DOM
11. 2026-06-07
    days on market $139,900 Active 53 DOM
12. 2026-06-04
    days on market $139,900 Active 50 DOM
13. 2026-06-02
    days on market $139,900 Active 49 DOM
14. 2026-06-01
    days on market $139,900 Active 48 DOM
15. 2026-05-31
    days on market $139,900 Active 47 DOM
16. 2026-05-31
    days on market $139,900 Active 46 DOM
17. 2026-04-14
    listed $139,900 Active 671-char remark

    Show marketing remark (671 chars)

    Charming 3-bedroom, 1.5-bath home offering comfortable living and great extra space! The main level features a bright and inviting layout, while the finished basement provides additional living space perfect for a cozy family room, home office, or entertainment area. Enjoy outdoor living with a spacious deck overlooking a fully fenced-in backyard—ideal for pets, gatherings, or relaxing evenings. The property also includes a convenient storage shed for all your outdoor equipment and a one-stall garage for added convenience. This home offers the perfect blend of functionality, comfort, and outdoor enjoyment—ready for you to move in and make it your own!

18. 2026-04-13
    listed $139,900 Active 671-char remark

    Show marketing remark (671 chars)

    Charming 3-bedroom, 1.5-bath home offering comfortable living and great extra space! The main level features a bright and inviting layout, while the finished basement provides additional living space perfect for a cozy family room, home office, or entertainment area. Enjoy outdoor living with a spacious deck overlooking a fully fenced-in backyard—ideal for pets, gatherings, or relaxing evenings. The property also includes a convenient storage shed for all your outdoor equipment and a one-stall garage for added convenience. This home offers the perfect blend of functionality, comfort, and outdoor enjoyment—ready for you to move in and make it your own!

19. 2024-08-26
    price $132,000
20. 2024-06-10
    listed $136,000 Active
21. 2021-07-07
    soldstatus $125,500
22. 2021-07-02
    soldstatus $125,500
23. 2021-07-02
    soldstatus $125,500
24. 2021-05-07
    listed $117,959
25. 2012-05-07
    listed $117,959
26. 2009-08-27
    soldstatus $94,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $1,992 · $166/mo
• Projected year-2 tax: $2,094 · $175/mo
• Expected delta: +$102/yr (+$9/mo · 5.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,960
• − Mortgage interest: −$7,837
• − Property taxes: −$1,992
• − Insurance: −$700
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,070
• Taxable income: $1,329
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $3,164/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mason City Community School District
• NCES district ID: 1918780
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $43,668
• Composite: 45.47/100
• National rank: #2614
• State rank: #271 of 289 in IA

Livability — Mason City

• Score: 81/100
• State rank: #67
• US rank: #1477

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mason City, IA
• City population: 28,818
• Population (ZIP): 28,818

Population outlook (Cerro Gordo County) Hauer SSP2

• Today (2025): 41,080 people
• By 2030: 39,746 · -3.2%
• By 2040: 36,608 · -10.9%
• By 2050: 33,682 · -18.0%
• By 2075: 29,702 · -27.7%
• By 2100: 27,399 · -33.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Cerro Gordo

• 2024 margin: R (+11.7) · D 43.4% · R 55.0% · Other 1.6%
• 2008→2024 swing: -32.5pp toward R · 2008: 20.8pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+6.3 2016: R+7.7 2012: D+13.2 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.01%
• Current HPI: 199.1966
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

+48.8% since first listed

10 events — show timeline

• 2026-04-14 Listed $139,900 Greater Mason BOR
• 2026-04-13 Listed $139,900 IAR
• 2024-08-26 Price Changed $132,000 Greater Mason BOR
• 2024-06-10 Listed $136,000 Greater Mason BOR
• 2021-07-07 Sold (Public Records) $125,500 Public Records
• 2021-07-02 Sold (MLS) $125,500 Greater Mason BOR
• 2021-07-02 Sold (MLS) $125,500 IAR
• 2021-05-07 Listed $117,959 Greater Mason BOR
• 2012-05-07 Listed $117,959 IAR
• 2009-08-27 Sold (Public Records) $94,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,992 · +2.9% YoY. Source: county tax records.