14242 Northpark Dr · Urbandale, IA 50323

$389,900

4 bd · 3.0 ba · 1,490 sqft · Other · 223 Days on market

Built 2025 6,250 sqft lot $262/sqft · 6% below area Est $416k · 6% under $19/mo HOA · 1% of rent ↓ 3% 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).

• ARV discount +10.3/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Cash flow +4.1/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome Home to the Portland, by Destiny Homes in Barrett Estates, Urbandale and Waukee Schools. This Portland Ranch features 4 bedrooms, 3 bath areas, and approximately 2300 square feet of gorgeous living. The great room has electric fireplace, tray ceiling, and oversized windows. The kitchen features quartz countertops, center island and sliders to deck overlook the backyard. The private primary suite is spacious and features the tray ceilings, walk-in closet, double vanity, and linen closet. DAYLIGHT lower level includes family room, bedroom and bath. Extended 2 Year Builder Warranty. Barrett Estates is one of Urbandale’s newest housing developments. Located in the Waukee north feeder school system. Walking distance to the new Barrett Park Natural Playscape and Waterford Park. Just minutes to Northwest High School, elementary schools, shopping, entertainment, and businesses. Ask about $2,000 in closing costs provided by a preferred lender. All information obtained from seller and public records.

Key facts

• Quartz countertops
• Walk-in closet
• Sliders to deck

Tags

• ELECTRIC FIREPLACE
• OVERSIZED WINDOWS
• QUARTZ COUNTERTOPS
• CENTER ISLAND
• SLIDERS TO DECK
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $390k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (39.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (46.6% below list).
• Recommended offer: $208k (46.6% below list) — sets the bar for 1% rule.
• Cap rate 3.0% vs local median 2.4% in Urbandale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 90/100 on livability (#4 in IA, #69 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: 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: 381 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).
• This rent is only 14% of the median local income ($176k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $21k of equity ($3k loan paydown + $19k appreciation (4.8% local appreciation)).
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $208,169 (46.6% 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. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.53% ✗
• Cap rate: 3.00%
• Cash-on-cash: -11.75%
• DSCR: 0.48
• GRM: 15.6

CMA / ARV

• ARV (median comp): $416,118
• List price: $389,900
• Delta: -4.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.16×
• Total profit: $17,551
• Equity at exit: $216,404

10-year hold

• IRR: 5.6%
• Equity multiple: 2.05×
• Total profit: $114,144
• Equity at exit: $369,778

Cash invested: $109,172 (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 50323

• Home prices YoY: 2.5%
• Active inventory: 381
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$487 /mo · $5,848/yr
• Insurance: −$162
• HOA: −$19
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-1,069

Break-even live

Break-even rent $3,435

Max offer price $235,217

Occupancy floor —

Sensitivity live

Price	-10% $-800	-5% $-934	+0% $-1,069	+5% $-1,204	+10% $-1,338
Rent	-10% $-1,233	-5% $-1,151	+0% $-1,069	+5% $-987	+10% $-905
Rate	-1.0pp $-873	-0.5pp $-970	base $-1,069	+0.5pp $-1,170	+1.0pp $-1,273

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	15d	1	0.02mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	45d	1	0.45mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	45d	1	0.48mi
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	15d	1	0.60mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$2,096	$1.32	15d	8	0.72mi
4454 142nd St Urbandale, IA	1.0–3.0	1.0–2.0	949	$1,384	$1.46	15d	6	0.98mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	45d	1	1.14mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	24d	1	1.30mi

HOA detail

• Monthly dues: $19 · $228/yr
• Likely covers: waterelectric

Listing history 22 events

1. 2026-06-21
   pricedays on market $389,900 Active 223 DOM
2. 2026-06-18
   days on market $395,900 Active 220 DOM
3. 2026-06-17
   days on market $395,900 Active 219 DOM
4. 2026-06-16
   days on market $395,900 Active 218 DOM
5. 2026-06-15
   days on market $395,900 Active 217 DOM
6. 2026-06-14
   days on market $395,900 Active 215 DOM
7. 2026-06-13
   days on market $395,900 Active 214 DOM
8. 2026-06-10
   days on market $395,900 Active 212 DOM
9. 2026-06-09
   days on market $395,900 Active 211 DOM
10. 2026-06-08
    days on market $395,900 Active 210 DOM
11. 2026-06-07
    days on market $395,900 Active 209 DOM
12. 2026-06-05
    days on market $395,900 Active 206 DOM
13. 2026-06-03
    days on market $395,900 Active 205 DOM
14. 2026-06-02
    days on market $395,900 Active 204 DOM
15. 2026-06-01
    days on market $395,900 Active 203 DOM
16. 2026-05-31
    days on market $395,900 Active 202 DOM
17. 2026-05-31
    days on market $395,900 Active 201 DOM
18. 2025-12-10
    price $395,900 1019-char remark

    Show marketing remark (1019 chars)

    Welcome Home to the Portland, by Destiny Homes in Barrett Estates, Urbandale and Waukee Schools. This Portland Ranch features 4 bedrooms, 3 bath areas, and approximately 2300 square feet of gorgeous living. The great room has electric fireplace, tray ceiling, and oversized windows. The kitchen features quartz countertops, center island and sliders to deck overlook the backyard. The private primary suite is spacious and features the tray ceilings, walk-in closet, double vanity, and linen closet. DAYLIGHT lower level includes family room, bedroom and bath. Extended 2 Year Builder Warranty. Barrett Estates is one of Urbandale’s newest housing developments. Located in the Waukee north feeder school system. Walking distance to the new Barrett Park Natural Playscape and Waterford Park. Just minutes to Northwest High School, elementary schools, shopping, entertainment, and businesses. Ask about $2,000 in closing costs provided by a preferred lender. All information obtained from seller and public records.

19. 2025-11-07
    listed $405,700 Active 1019-char remark

    Show marketing remark (1019 chars)

    Welcome Home to the Portland, by Destiny Homes in Barrett Estates, Urbandale and Waukee Schools. This Portland Ranch features 4 bedrooms, 3 bath areas, and approximately 2300 square feet of gorgeous living. The great room has electric fireplace, tray ceiling, and oversized windows. The kitchen features quartz countertops, center island and sliders to deck overlook the backyard. The private primary suite is spacious and features the tray ceilings, walk-in closet, double vanity, and linen closet. DAYLIGHT lower level includes family room, bedroom and bath. Extended 2 Year Builder Warranty. Barrett Estates is one of Urbandale’s newest housing developments. Located in the Waukee north feeder school system. Walking distance to the new Barrett Park Natural Playscape and Waterford Park. Just minutes to Northwest High School, elementary schools, shopping, entertainment, and businesses. Ask about $2,000 in closing costs provided by a preferred lender. All information obtained from seller and public records.

20. 2025-10-28
    historical
21. 2025-07-23
    price $405,700
22. 2025-07-21
    listed $406,900 Active

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

Taxation est. · year 1

• Rental income: $24,980
• − Mortgage interest: −$21,840
• − Property taxes: −$5,848
• − Insurance: −$1,950
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − HOA: −$228
• − Depreciation: −$11,343
• Taxable loss: −$20,226
• Est. tax savings @ 24.0%: +$4,854
• After-tax cash flow: $-7,974/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 — Urbandale

• Score: 90/100
• State rank: #4
• US rank: #69

Category grades

Amenities A+ 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: Urbandale, IA
• County: Polk County · 453,298 people
• City population: 49,196
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 17,265
• Household income: $175,944
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 63.0

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 (86%)
• Race & ethnicity: White 86% Asian 6% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Portuguese 6% Iranian 5% Lithuanian 2%
• Foreign-born: 7% · Canada, China, Philippines
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Chinese 1% Spanish 1%

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: ▲ 4.81%
• Current HPI: 199.789
• Rent YoY: —
• 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

-2.7% since first listed

5 events — show timeline

• 2025-12-10 Price Changed $395,900 DMMLS
• 2025-11-07 Listed $405,700 DMMLS
• 2025-10-28 Listing Removed — DMMLS
• 2025-07-23 Price Changed $405,700 DMMLS
• 2025-07-21 Listed $406,900 DMMLS

Property tax history

-25.0%/yr

Latest (2025): $6 · -25.0% YoY. Source: county tax records.