5723 153rd St · Urbandale, IA 50323

$329,990

4 bd · 2.0 ba · 1,606 sqft · Other · 23 Days on market

Built 2026 5,520 sqft lot $19/mo HOA · 1% of rent

---

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 +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Cash flow +6.6/30.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.8/10.0

Listing remarks MLS

Welcome to 5723 153rd St in Urbandale, IA. This thoughtfully crafted home offers 4 bedrooms, 2 bathrooms, and 1,606 sq. ft. designed for modern living. Step inside to a bright, airy foyer that flows seamlessly into the heart of the home. You'll find two spacious bedrooms and a full bathroom-perfect for family, guests, or a home office. Just beyond, a third bedroom sits tucked behind the (2-3) car-garage alongside a conveniently located laundry room. The open-concept main living area connects the kitchen, dining, and great room-ideal for everyday living and entertaining. The kitchen features sleek white cabinetry, stainless steel appliances, and a large island that invites gatherings and conversation. The dining and great room are warmed by a cozy electric fireplace and brightened by large windows flooding the space with natural light. Just off this space, retreat to your spacious primary bedroom complete with an en-suite bathroom featuring a dual vanity, walk-in shower, and an expansive walk-in closet. Step into your new home at Magnolia Heights in Urbandale today! This home is currently under construction. Photos and video may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances. Select options and finishes may not be available based on construction milestones at the time of contract.

Key facts

• Bright foyer
• Open-concept kitchen
• Dual vanity

Tags

• BRIGHT FOYER
• OPEN-CONCEPT KITCHEN
• LARGE ISLAND
• COZY ELECTRIC FIREPLACE
• PRIVATE PRIMARY SUITE
• DUAL VANITY

Property features AI

Finance

• HOA & community: Homeowners association (Magnolia HOA / Edge Property Management) with an annual fee of $225

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story new construction; Vinyl siding exterior; Facing information not provided; Entry level not provided
• Construction: Built by DR HORTON; Asphalt shingle roof; Poured foundation; New construction
• Exterior features: Concrete road access; Zoned R

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Four main-level bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Gas heating (natural gas)
• Interior features: Dining area; Eat-in kitchen; Finished basement with egress windows; Electric fireplace
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $330k.

Deal economics

• At list price, monthly cash flow is $-549 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (32.8% below list).
• Recommended offer: $222k (32.8% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.4% in Urbandale — 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 90/100 on livability (#4 in IA, #69 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment 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.
• Zoned schools: Walnut Hills Elementary School (math 91% / reading 81%, grade A+, #26 of 616 statewide, top 4%, 625 students, 9% FRL); Waukee Middle School (math 83% / reading 81%, grade A+, #22 of 246 statewide, top 12%, 1,069 students, 12% FRL); Waukee High School (math 74% / reading 82%, grade A-, #53 of 336 statewide, top 16%, 1,268 students, 24% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 381 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).
• This rent is only 15% 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 $18k of equity ($2k loan paydown + $16k 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 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 3 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 $221,596 (32.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.13%
• DSCR: 0.68
• GRM: 12.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.4%
• Equity multiple: 1.41×
• Total profit: $37,528
• Equity at exit: $183,153

10-year hold

• IRR: 8.6%
• Equity multiple: 2.58×
• Total profit: $145,567
• Equity at exit: $312,959

Cash invested: $92,397 (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: 12.4×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$137
• HOA: −$19
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-549

Break-even live

Break-even rent $2,911

Max offer price $250,568

Occupancy floor —

Sensitivity live

Price	-10% $-321	-5% $-435	+0% $-549	+5% $-663	+10% $-777
Rent	-10% $-724	-5% $-636	+0% $-549	+5% $-461	+10% $-374
Rate	-1.0pp $-383	-0.5pp $-465	base $-549	+0.5pp $-634	+1.0pp $-721

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: $82,498
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	16d	1	0.34mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$2,096	$1.32	16d	8	0.43mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	45d	1	0.51mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	45d	1	0.51mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	45d	1	0.69mi
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	16d	1	0.87mi

HOA detail

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

Listing history 18 events

1. 2026-06-21
   days on market $329,990 Active 23 DOM
2. 2026-06-18
   days on market $329,990 Active 20 DOM
3. 2026-06-17
   days on market $329,990 Active 19 DOM
4. 2026-06-16
   days on market $329,990 Active 18 DOM
5. 2026-06-15
   days on market $329,990 Active 17 DOM
6. 2026-06-14
   days on market $329,990 Active 15 DOM
7. 2026-06-13
   days on market $329,990 Active 14 DOM
8. 2026-06-10
   days on market $329,990 Active 12 DOM
9. 2026-06-09
   days on market $329,990 Active 11 DOM
10. 2026-06-08
    days on market $329,990 Active 10 DOM
11. 2026-06-07
    days on market $329,990 Active 9 DOM
12. 2026-06-05
    days on market $329,990 Active 6 DOM
13. 2026-06-03
    days on market $329,990 Active 5 DOM
14. 2026-06-02
    days on market $329,990 Active 4 DOM
15. 2026-06-01
    days on market $329,990 Active 3 DOM
16. 2026-05-31
    days on market $329,990 Active 2 DOM
17. 2026-05-31
    remarks 687-char remark
18. 2026-05-31
    listed $329,990 Active 1 DOM

ⓘ 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: $26,592
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − HOA: −$228
• − Depreciation: −$9,600
• Taxable loss: −$12,575
• Est. tax savings @ 24.0%: +$3,018
• After-tax cash flow: $-3,568/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

+0.0% since first listed

3 events — show timeline

• 2026-05-30 Listed $329,990 Zillow
• 2026-05-29 Relisted — DMMLS
• 2026-04-23 Listed $329,990 DMMLS