5701 155th Pl · Urbandale, IA 50111

$232,990

3 bd · 2.5 ba · 1,492 sqft · Other public records · 385 Days on market

Built 2025 Good condition $156/sqft · at area comps Est $230k · at est. $195/mo HOA · 10% 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).

• Cash flow +8.3/30.0
• Schools +7.1/10.0
• ARV discount +7.0/15.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

Key facts

• Dedicated pantry
• Cozy fireplace
• Ensuite bathroom

Tags

• MAGNOLIA HEIGHTS COMMUNITY
• ACCESS TO WAUKEE SCHOOLS
• COZY FIREPLACE
• DEDICATED PANTRY
• ISLAND OVERLOOKING DINING
• ENSUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $233k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (13.4% below list).
• Recommended offer: $202k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: 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: Rents flat; 329 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 385 days — a 12% lower offer ($205k) 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 $201,673 (13.4% 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 385 days. Have you received any prior offers? Is the seller open to a 13% 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: 0.87% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.90%
• DSCR: 0.83
• GRM: 9.6

CMA / ARV

• ARV (median comp): $230,429
• List price: $232,990
• Delta: 4.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -25.7%
• Equity multiple: 0.15×
• Total profit: $-55,645
• Equity at exit: $34,740

10-year hold

• IRR: -33.0%
• Equity multiple: -0.27×
• Total profit: $-83,030
• Equity at exit: $20,145

Cash invested: $65,237 (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 50111

• Home prices YoY: -11.1%
• Rents YoY: 0.7%
• Active inventory: 329
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,017 high
• Mortgage (P&I): −$1,222
• Tax est. 1.5%: −$291 /mo · $3,495/yr
• Insurance: −$97
• HOA: −$195
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-212

Break-even live

Break-even rent $2,285

Max offer price $202,324

Occupancy floor —

Sensitivity live

Price	-10% $-51	-5% $-131	+0% $-212	+5% $-292	+10% $-373
Rent	-10% $-371	-5% $-292	+0% $-212	+5% $-132	+10% $-53
Rate	-1.0pp $-95	-0.5pp $-153	base $-212	+0.5pp $-272	+1.0pp $-334

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: $58,248
• Closing costs: $6,990
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	15d	1	0.39mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	15d	8	0.43mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	45d	1	0.56mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	45d	1	0.61mi
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	15d	1	0.96mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	45d	1	1.45mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	45d	1	1.46mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	15d	1	1.46mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	45d	1	1.49mi

HOA detail

• Monthly dues: $195 · $2,340/yr

Listing history 27 events

1. 2026-06-21
   days on market $232,990 Active 385 DOM
2. 2026-06-18
   days on market $232,990 Active 382 DOM
3. 2026-06-17
   days on market $232,990 Active 381 DOM
4. 2026-06-16
   days on market $232,990 Active 380 DOM
5. 2026-06-15
   days on market $232,990 Active 379 DOM
6. 2026-06-14
   days on market $232,990 Active 377 DOM
7. 2026-06-13
   days on market $232,990 Active 376 DOM
8. 2026-06-10
   days on market $232,990 Active 374 DOM
9. 2026-06-09
   days on market $232,990 Active 373 DOM
10. 2026-06-08
    days on market $232,990 Active 372 DOM
11. 2026-06-07
    days on market $232,990 Active 371 DOM
12. 2026-06-05
    days on market $232,990 Active 368 DOM
13. 2026-06-03
    days on market $232,990 Active 367 DOM
14. 2026-06-02
    days on market $232,990 Active 366 DOM
15. 2026-06-01
    remarks 687-char remark
16. 2026-06-01
    days on marketlisting id $232,990 Active 365 DOM
17. 2026-05-31
    days on market $232,990 Active 372 DOM
18. 2026-05-31
    days on market $232,990 Active 371 DOM
19. 2026-01-14
    historical
20. 2025-11-08
    price $239,990 1129-char remark

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

21. 2025-11-07
    price $244,990 1129-char remark

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

22. 2025-11-07
    price $239,990 1129-char remark

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

23. 2025-11-06
    price $239,990
24. 2025-10-21
    price $244,990

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

25. 2025-10-21
    price $244,990 1129-char remark

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

26. 2025-05-24
    listed $239,990 Active 1129-char remark

    Show marketing remark (1129 chars)

    Model Home - Not for Sale. Search Magnolia Heights Townhomes at drhorton.com to view available homes in this neighborhood. D. R. Horton, America's Builder, presents the Pearson. This two-story townhome boasts 3 bedrooms, 2.5 bathrooms, and a single-stall garage. Upon entering the home, a large open floor plan greets you, with a space, that boasts a cozy fireplace. You'll also have access to an outdoor covered patio, great for entertaining in the warmer months. The gorgeous kitchen features a stainless-steel appliances and bar seating perfect for food prep or entertaining family and friends. Upstairs, you'll find a beautiful primary bedroom with an ensuite bathroom, featuring a double vanity sink, walk-in shower, and spacious closet for all your storage needs. Also upstairs, there are an additional two bedrooms, full bathroom, and a convenient laundry area. All appliances are included. This home also comes with all the benefits of new construction! Home Is Connected: All D. R. Horton homes come with an industry-leading suite of smart home products that keep you connected with the people and place you value most.

27. 2025-01-14
    listed $234,990 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: $24,201
• − Mortgage interest: −$13,051
• − Property taxes: −$3,495
• − Insurance: −$1,165
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − HOA: −$2,340
• − Depreciation: −$6,778
• Taxable loss: −$6,500
• Est. tax savings @ 24.0%: +$1,560
• After-tax cash flow: $-983/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained townhome is move-in ready with a good condition score and minimal repairs needed. It offers a spacious floor plan and modern amenities, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping the front yard — Improves curb appeal and rental value
• Resale Updating the flooring in the bathrooms — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping the front yard — Improves curb appeal and rental value ↑
• Resale Updating the flooring in the bathrooms — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 16,865
• Household income: $120,769
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 249.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 3% Italian 3% Iranian 2%
• Foreign-born: 6% · China, Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -30.93%
• Current HPI: 249.0614
• Rent YoY: ▲ 0.71%
• 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

+2.1% since first listed

9 events — show timeline

• 2026-01-14 Listing Removed — DMMLS
• 2025-11-08 Price Changed $239,990 Zillow
• 2025-11-07 Price Changed $244,990 Zillow
• 2025-11-07 Price Changed $239,990 Zillow
• 2025-11-06 Price Changed $239,990 DMMLS
• 2025-10-21 Price Changed $244,990 DMMLS
• 2025-10-21 Price Changed $244,990 Zillow
• 2025-05-24 Listed $239,990 Zillow
• 2025-01-14 Listed $234,990 DMMLS