82 Dakota Cir · Waukee, IA 50263

$299,000

4 bd · 3.0 ba · 1,991 sqft · Other public records · 4 Days on market

Built 2023 9,148 sqft lot ↓ 16% since listing

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Why this score? — see what drove the D- 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 +8.5/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* MOVE-IN READY! * D. R. Horton, America's Builder, presents the Aldridge. You'll find 4 Bedrooms, and 3 Bathrooms in an open concept, Ranch layout. The Aldridge offers a Finished Basement providing over 2,000 square feet of total living space! As you make your way into the main living area, you’ll find an open Great Room featuring a cozy fireplace. The Gourmet Kitchen includes a Walk-In Pantry and a Large Island overlooking the Dining and Great Room. The Primary Bedroom features an ensuite bathroom with dual vanity sink and large Walk-in Closet. The two large additional Bedrooms and full bathroom on the main level are located at the back of the home perfect for guests and family. Heading to the Finished Lower Level, you’ll find an additional large living area as well as the Fourth Bedroom, full Bathroom, and tons of storage space! All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

Key facts

• 9,148 sq ft lot
• 2 garage spots
• Built 2023

Property features AI

Exterior

• Parking: Attached two-car garage
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single-story; Resale property
• Construction: Poured foundation
• Exterior features: Sidewalks

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator; Stove
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; Security system
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $299k.

Deal economics

• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (20.5% below list).
• Recommended offer: $238k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.0% in Waukee — 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 84/100 on livability (#22 in IA, #682 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Waukee Community School District (suburban): math 80% / reading 79% proficiency, ranked #14 of 289 in IA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 891 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Recommended offer $237,684 (20.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.19×
• Total profit: $-68,038
• Equity at exit: $44,582

10-year hold

• IRR: -22.9%
• Equity multiple: -0.10×
• Total profit: $-91,822
• Equity at exit: $25,852

Cash invested: $83,720 (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 50263

• Rents YoY: 1.8%
• Active inventory: 891
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,377 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$450 /mo · $5,402/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-265

Break-even live

Break-even rent $2,712

Max offer price $252,180

Occupancy floor —

Sensitivity live

Price	-10% $-96	-5% $-180	+0% $-265	+5% $-350	+10% $-434
Rent	-10% $-453	-5% $-359	+0% $-265	+5% $-171	+10% $-77
Rate	-1.0pp $-114	-0.5pp $-189	base $-265	+0.5pp $-343	+1.0pp $-421

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3681 Jasmine Ln Waukee, IA	3.0	2.5	1464	$2,235	$1.53	15d	13	1.27mi
3681 Jasmine Ln Unit HOME1 Waukee, IA	3.0	2.5	1511	$2,545	$1.68	45d	1	1.27mi
3681 Jasmine Ln Unit HOME94 Waukee, IA	3.0	2.5	1418	$2,375	$1.67	45d	1	1.27mi

Listing history 3 events

1. 2026-06-21
   days on market $299,000 Active 4 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $299,000 Active 1 DOM

ⓘ 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: $5,402 · $450/mo
• Projected year-2 tax: $5,402 · $450/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $28,522
• − Mortgage interest: −$16,749
• − Property taxes: −$5,402
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,282
• − Management: −$2,282
• − Depreciation: −$8,698
• Taxable loss: −$8,385
• Est. tax savings @ 24.0%: +$2,012
• After-tax cash flow: $-1,168/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: Waukee Community School District
• NCES district ID: 1930510
• Math proficiency: 80% ▼ -6.00%
• Reading proficiency: 79% ▼ -5.00%
• Median HH income: $88,580
• Composite: 70.94/100
• National rank: #245
• State rank: #14 of 289 in IA

Livability — Waukee

• Score: 84/100
• State rank: #22
• US rank: #682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukee, IA
• County: Dallas County · 77,082 people
• City population: 29,611
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 29,611
• Household income: $102,762
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 468.0

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 111,904 people
• By 2030: 127,807 · +14.2%
• By 2040: 160,576 · +43.5%
• By 2050: 194,154 · +73.5%
• By 2075: 271,895 · +143.0%
• By 2100: 326,525 · +191.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 7% Asian 6% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Lithuanian 3% Iranian 3%
• Foreign-born: 13% · Canada, India
• Languages at home: 85% English-only · Other Asian/Pacific 3% Spanish 3% Arabic 2%

Political lean MEDSL · Dallas

• 2024 margin: Toss-up / Even · D 46.9% · R 51.7% · Other 1.4%
• 2008→2024 swing: +0.8pp no change · 2008: -5.5pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+2.0 2016: R+9.6 2012: R+11.8 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.95%
• Current HPI: 169.2421
• Rent YoY: ▲ 1.82%
• Metro: Des Moines-West Des Moines, IA
• 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

-15.8% since first listed

10 events — show timeline

• 2026-06-17 Listed $299,000 DMMLS
• 2026-04-07 Listing Removed — DMMLS
• 2026-01-22 Listed $365,000 DMMLS
• 2023-11-10 Sold (MLS) $345,000 DMMLS
• 2023-08-23 Pending — DMMLS
• 2023-07-05 Price Changed $339,990 DMMLS
• 2023-06-12 Price Changed $354,990 DMMLS
• 2023-05-23 Price Changed $359,990 DMMLS
• 2023-04-24 Price Changed $364,990 DMMLS
• 2023-03-20 Listed $354,990 DMMLS

Property tax history

+409.8%/yr

Latest (2025): $5,402 · +89933.3% YoY. Source: county tax records.