2723 145th St · Urbandale, IA 50323

$414,900

4 bd · 2.5 ba · 2,316 sqft · SingleFamily public records · 7 Days on market

Built 2001 8,825 sqft lot Est $456k · 9% under

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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 +11.6/15.0
• 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 +1.6/10.0
• DSCR +0.9/10.0

Listing remarks MLS

Welcome home! This walk-out two story is one you don't want to miss! Located in Waukee school disctrict and Deer Creek development. The main floor includes the kitchen with a newer stainless steel appliances, gas range, new microwave, new dishwasher (all with 3 year warranty). Refrigerator is 2 years old with 3 year warranty remaining. The main floor has new LVP that was just installed and includes a formal dining that could make a super 1st floor home office, and family room that is open to the kitchen. Upstairs has 3 bedrooms and a large loft that could be a fourth bedroom, 2 full bathrooms, and the laundry room. The large owners suite will accommodate that California king sized bed, and has a huge closet and luxurious large bathroom. The lower level is not finished and is ready for your touch. Fenced yard and with fruit trees including a apple tree waiting for you to harvest. New 16x44 deck with low maintance decking. New water heater and gas heater in the garage. This would be a nice home to make more wonderful family memories and it can be yours! All information obtained from Seller and public records.

Key facts

• Gas fireplace
• Flex room
• Built-in shelving

Tags

• FLEX ROOM
• BUILT-IN SHELVING
• GAS FIREPLACE
• STAINLESS STEEL APPLIANCES
• PENINSULA BAR
• MASSIVE DECK

Property features AI

Exterior

• Parking: Attached three-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story home; Resale property
• Construction: Vinyl siding; Asphalt shingle roof; Poured foundation; Built previously (resale)
• Exterior features: Concrete road access; Zoned residential

Interior

• Kitchen: Dishwasher; Microwave; Stove; Refrigerator
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Basement with walk-out access; One fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $415k.

Deal economics

• At list price, monthly cash flow is $-677 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (28.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (34.0% below list).
• Recommended offer: $274k (34.0% 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: 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: 381 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).

Forward outlook

• In year one you build about $23k of equity ($3k loan paydown + $20k 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 ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.
• Current owner paid $353k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $273,807 (34.0% 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: 0.66% ✗
• Cap rate: 4.33%
• Cash-on-cash: -7.00%
• DSCR: 0.69
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $456,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14448 Briarwood Ln	0.10mi	4/3.5	2,234 (-4%)	4mo	$441,000	$197	82
2826 147th St	0.14mi	4/3.5	2,436 (+5%)	6mo	$450,000	$185	75
14111 Oak Brook Dr	0.31mi	5/2.5 (+1)	2,309 (-0%)	8mo	$417,500	$181	73
14425 Briarwood Ln	0.12mi	4/3.5	2,112 (-9%)	4mo	$482,500	$228	72
15000 Bryn Mawr Dr	0.26mi	4/3.5	2,188 (-6%)	3mo	$479,000	$219	72
15148 Beechwood Ave	0.38mi	4/3.5	2,253 (-3%)	3mo	$489,000	$217	72
2190 NW 147th St	0.45mi	4/2.5	2,451 (+6%)	5mo	$380,000	$155	65
14312 Brookshire Dr	0.25mi	5/3.5 (+1)	2,491 (+8%)	3mo	$460,000	$185	65
14000 Buena Vista Dr	0.37mi	5/3.5 (+1)	2,219 (-4%)	4mo	$408,900	$184	63
2795 NW 153rd St	0.54mi	5/3.5 (+1)	2,408 (+4%)	1mo	$546,000	$227	58
2112 NW 148th St	0.53mi	3/3.0 (-1)	2,081 (-10%)	5mo	$310,000	$149	47
2230 NW 138th St	0.66mi	5/3.5 (+1)	2,141 (-8%)	2mo	$451,500	$211	46

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

Projected returns pro-forma

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

5-year hold

• IRR: 6.5%
• Equity multiple: 1.41×
• Total profit: $47,971
• Equity at exit: $230,280

10-year hold

• IRR: 8.7%
• Equity multiple: 2.59×
• Total profit: $184,633
• Equity at exit: $393,487

Cash invested: $116,172 (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: 12.6×

Monthly cashflow live

• Estimated rent: $2,738 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$492 /mo · $5,900/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-677

Break-even live

Break-even rent $3,595

Max offer price $295,261

Occupancy floor —

Sensitivity live

Price	-10% $-442	-5% $-560	+0% $-677	+5% $-795	+10% $-912
Rent	-10% $-894	-5% $-785	+0% $-677	+5% $-569	+10% $-461
Rate	-1.0pp $-468	-0.5pp $-572	base $-677	+0.5pp $-785	+1.0pp $-894

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: $103,725
• Closing costs: $12,447
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14412 Holcomb Ave Urbandale, IA	4.0	3.0	2565	$2,900	$1.13	16d	1	0.27mi
15561 Rocklyn PL Clive, IA	4.0	4.0	2445	$2,850	$1.17	45d	1	0.76mi
15583 Rocklyn PL Clive, IA	4.0	4.0	2445	$3,150	$1.29	45d	1	0.78mi
3701 161st St Urbandale, IA	5.0	4.0	2252	$3,150	$1.40	45d	1	1.24mi

Listing history 6 events

1. 2026-06-16
   statusdays on market $414,900 Pending 7 DOM
2. 2026-06-15
   days on market $414,900 Active 6 DOM
3. 2026-06-14
   days on market $414,900 Active 4 DOM
4. 2026-06-13
   days on market $414,900 Active 3 DOM
5. 2026-06-10
   remarks 699-char remark
6. 2026-06-10
   listed $414,900 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: $5,900 · $492/mo
• Projected year-2 tax: $6,207 · $517/mo
• Expected delta: +$307/yr (+$26/mo · 5.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $32,857
• − Mortgage interest: −$23,241
• − Property taxes: −$5,900
• − Insurance: −$2,074
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − Depreciation: −$12,070
• Taxable loss: −$15,685
• Est. tax savings @ 24.0%: +$3,765
• After-tax cash flow: $-4,362/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

+67.3% since first listed

6 events — show timeline

• 2026-06-09 Listed $414,900 DMMLS
• 2021-11-23 Sold (Public Records) $353,000 Public Records
• 2021-11-19 Sold (MLS) $353,000 DMMLS
• 2021-10-18 Pending — DMMLS
• 2021-10-15 Listed $355,000 DMMLS
• 2004-10-18 Sold (Public Records) $248,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,900 · +1.9% YoY. Source: county tax records.