Hansbury Plan · Waukee, IA 50263

$320,000

4 bd · 2.5 ba · 2,163 sqft · SingleFamily · 815 Days on market

$20/mo HOA · 1% of rent

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Why this score? — see what drove the F 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
• Schools +7.1/10.0
• Livability +4.2/5.0
• Cash flow +4.1/30.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Destiny Homes presents their Hansbury floor plan. This plan features approximately 2100 square feet of gorgeous, finished living space, 4 bedrooms and 2.5 baths. Spacious kitchen with painted cabinets, large center island, pantry, quartz countertops, and hardwood floors. Upon entering the home your greeted with a bonus living room/study/playroom. The large great room with fireplace tucked just off the open concept kitchen/dining area. Other main floor features include 9' ceilings, lockers/mudroom and half bath. Upstairs you will find 4 spacious bedrooms, full bathroom, and laundry room. The large primary suite features a walk-in closet, double vanity and full shower. Lower level is stubbed for a bath and plenty of room for future finish of your choice. All Launch series homes are Energy Star rated & have a 2 year builder warranty. Striking the perfect balance between quality and efficiency, your path to homeownership starts right now! Ask about $2,000 in closing costs provided by preferred lender.

Key facts

• Quartz countertops
• Energy star rated
• Hardwood floors

Tags

• QUARTZ COUNTERTOPS
• HARDWOOD FLOORS
• ENERGY STAR RATED

🏗️ New construction. The $320,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $428,609.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (28.4% below list).
• Recommended offer: $229k (28.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#22 in IA, #682 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing 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.
• Zoned schools: Shuler Elementary School (math 91% / reading 86%, grade A+, #12 of 616 statewide, top 2%, 658 students, 7% 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 14% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 891 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $3k of loan paydown is wiped out by about $13k 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

• It's been on market 815 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Recommended offer $229,123 (28.4% 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 815 days. Have you received any prior offers? Is the seller open to a 28% 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: 3.01%
• Cash-on-cash: -11.72%
• DSCR: 0.48
• GRM: 15.6

CMA / ARV

• ARV (median comp): $428,609
• List price: $320,000
• Delta: -25.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 NW Compass Ave	0.06mi	4/2.5	2,070 (-4%)	4mo	$385,000	$186	86
430 NW Ryder Dr	0.12mi	4/4.0	2,146 (-1%)	2mo	$534,900	$249	85
460 NW Independence Cir	0.06mi	4/2.5	2,072 (-4%)	9mo	$404,900	$195	83
305 NW Woodmoor Dr	0.67mi	4/2.5	2,208 (+2%)	2mo	$509,900	$231	64
585 NW Rosemont Dr	0.41mi	5/3.5 (+1)	2,302 (+6%)	1mo	$590,000	$256	60
855 NW Frescott Cir	0.57mi	4/3.5	2,065 (-4%)	6mo	$655,000	$317	57
535 NW Rosemont Dr	0.37mi	4/2.5	1,889 (-13%)	9mo	$445,000	$236	54
465 NW Gracewood Dr	0.43mi	4/4.0	2,350 (+9%)	6mo	$465,000	$198	54
270 NW Montego Ct	0.60mi	5/4.0 (+1)	2,042 (-6%)	1mo	$729,900	$357	51
265 NW Montego Ct	0.65mi	4/3.0	1,993 (-8%)	8mo	$807,679	$405	48
285 NW Woodmoor Dr	0.68mi	5/3.5 (+1)	2,310 (+7%)	7mo	$576,585	$250	42
275 NW Montego Ct	0.64mi	5/3.5 (+1)	1,841 (-15%)	2mo	$649,900	$353	35

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -39.1%
• Equity multiple: -0.22×
• Total profit: $-146,737
• Equity at exit: $63,907

10-year hold

• IRR: -69.2%
• Equity multiple: -0.95×
• Total profit: $-234,474
• Equity at exit: $37,058

Cash invested: $120,011 (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: 11.6×

Monthly cashflow live

• Estimated rent: $2,291 high
• Mortgage (P&I): −$2,248
• Tax est. 1.5%: −$536 /mo · $6,429/yr
• Insurance: −$179
• HOA: −$20
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-1,172

Break-even live

Break-even rent $3,775

Max offer price $259,026

Occupancy floor —

Sensitivity live

Price	-10% $-876	-5% $-1,024	+0% $-1,172	+5% $-1,320	+10% $-1,468
Rent	-10% $-1,353	-5% $-1,262	+0% $-1,172	+5% $-1,081	+10% $-991
Rate	-1.0pp $-956	-0.5pp $-1,063	base $-1,172	+0.5pp $-1,283	+1.0pp $-1,396

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: $107,152
• Closing costs: $12,858
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
284 NW Caspian Ct Waukee, IA	4.0	2.5	1605	$2,195	$1.37	16d	1	0.18mi
350 NW 6th St Waukee, IA	1.0–3.0	1.0–3.5	1163	$2,308	$1.98	16d	20	0.30mi
305 NW Morgan Ct Waukee, IA	5.0	3.5	2200	$2,595	$1.18	45d	1	0.42mi
122 NW Pike Cir Waukee, IA	4.0	2.5	1809	$2,495	$1.38	45d	1	0.44mi
1036 NW Richmond Rd Waukee, IA	3.0	2.5	1450	$1,750	$1.21	25d	1	0.65mi
330 NE Cardinal Ln Waukee, IA	4.0	3.0	1492	$2,500	$1.68	45d	1	0.70mi
289 NW Charlestown Ln Waukee, IA	4.0	2.5	1767	$2,200	$1.25	45d	1	0.72mi
655 NW Williamsburg Ln Waukee, IA	4.0	2.5	1875	$2,445	$1.30	16d	1	0.97mi
1110 NW Sproul Dr Waukee, IA	4.0	3.0	2028	$2,800	$1.38	25d	1	0.98mi
500 NE Horizon Dr Waukee, IA	3.0	1.0–2.0	1027	$1,578	$1.54	16d	24	1.10mi
1283 NW Williamsburg Ln Unit 1 Waukee, IA	4.0	3.0	1410	$2,495	$1.77	16d	1	1.14mi
200 Corene Ave Waukee, IA	4.0	2.0	1410	$1,995	$1.41	21d	1	1.21mi
854 NE Phlox Ave Waukee, IA	3.0	3.0	1596	$1,750	$1.10	16d	1	1.34mi
856 NE Larkspur Ave Unit 1 Waukee, IA	3.0	2.5	1630	$1,800	$1.10	45d	1	1.34mi
869 NE Traverse Dr Waukee, IA	3.0	3.0	1868	$2,095	$1.12	16d	1	1.35mi
878 NE Traverse Dr Waukee, IA	3.0	3.0	1868	$2,050	$1.10	45d	1	1.35mi

HOA detail

• Monthly dues: $20 · $240/yr

Listing history 18 events

1. 2026-06-21
   days on market $320,000 Active 815 DOM
2. 2026-06-18
   days on market $320,000 Active 812 DOM
3. 2026-06-17
   days on market $320,000 Active 811 DOM
4. 2026-06-16
   days on market $320,000 Active 810 DOM
5. 2026-06-15
   days on market $320,000 Active 809 DOM
6. 2026-06-14
   days on market $320,000 Active 807 DOM
7. 2026-06-13
   days on market $320,000 Active 806 DOM
8. 2026-06-10
   days on market $320,000 Active 804 DOM
9. 2026-06-09
   days on market $320,000 Active 803 DOM
10. 2026-06-08
    days on market $320,000 Active 802 DOM
11. 2026-06-07
    days on market $320,000 Active 801 DOM
12. 2026-06-05
    days on market $320,000 Active 798 DOM
13. 2026-06-03
    days on market $320,000 Active 797 DOM
14. 2026-06-02
    days on market $320,000 Active 796 DOM
15. 2026-06-01
    days on market $320,000 Active 795 DOM
16. 2026-05-31
    days on market $320,000 Active 794 DOM
17. 2026-05-31
    days on market $320,000 Active 793 DOM
18. 2024-03-28
    listed $320,000 Active 1018-char remark

    Show marketing remark (1018 chars)

    Destiny Homes presents their Hansbury floor plan. This plan features approximately 2100 square feet of gorgeous, finished living space, 4 bedrooms and 2.5 baths. Spacious kitchen with painted cabinets, large center island, pantry, quartz countertops, and hardwood floors. Upon entering the home your greeted with a bonus living room/study/playroom. The large great room with fireplace tucked just off the open concept kitchen/dining area. Other main floor features include 9' ceilings, lockers/mudroom and half bath. Upstairs you will find 4 spacious bedrooms, full bathroom, and laundry room. The large primary suite features a walk-in closet, double vanity and full shower. Lower level is stubbed for a bath and plenty of room for future finish of your choice. All Launch series homes are Energy Star rated & have a 2 year builder warranty. Striking the perfect balance between quality and efficiency, your path to homeownership starts right now! Ask about $2,000 in closing costs provided by preferred lender.

ⓘ 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: $27,495
• − Mortgage interest: −$24,009
• − Property taxes: −$6,429
• − Insurance: −$2,143
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − HOA: −$240
• − Depreciation: −$12,469
• Taxable loss: −$22,194
• Est. tax savings @ 24.0%: +$5,327
• After-tax cash flow: $-8,737/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

1 event — show timeline

• 2024-03-28 Listed $320,000 Zillow