9001 Windsor Pkwy #313 · Johnston, IA 50131

$150,000

1 bd · 1.0 ba · 1,092 sqft · Condo · 30 Days on market

Built 2017 Good condition

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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 +6.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.9/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy living with a little extra room to breathe. Unit 313 is a spacious 1 BR, 1 BA + den condo offering 1,092 SF of comfortable, single-level living at Vintage Cooperative of Johnston, a 55+ adult cooperative designed for people who want less stress and more freedom to enjoy life. Located on the 3rd floor, you’ll love the peaceful views, gorgeous sunsets from your private balcony, and the convenience of heated underground parking with elevator access right to your door. Inside, the open layout, vaulted ceilings, and move-in ready condition make it feel bright, welcoming, and easy to call home. The den gives you flexible space for guests, hobbies, puzzles, reading, or a cozy

Key facts

• Flexible space
• Private balcony
• Elevator access

Tags

• PRIVATE BALCONY
• HEATED UNDERGROUND PARKING
• ELEVATOR ACCESS
• FLEXIBLE SPACE

Property features AI

Exterior

• Parking: Attached 1-car garage
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Multi zoning
• Construction: Brick and wood siding exterior; Block and poured foundation
• Exterior features: Deck; Covered deck / porch; Open patio; Sprinkler / irrigation; Patio; Pond on the lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating; Natural gas heating
• Interior features: Dining area; Eat-in kitchen; Window treatments; Grab bars for accessibility
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (20.8% below list).
• Recommended offer: $119k (20.8% below list) — sets the bar for 1% rule.
• Cap rate -7.5% vs local median 2.4% in Johnston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 81/100 on livability (#59 in IA, #1,344 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Johnston Community School District (suburban): math 78% / reading 78% proficiency, ranked #24 of 289 in IA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.5%/yr); 376 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 13% of the median local income ($107k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 137% of rent.

Recommended offer $118,850 (20.8% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: -7.54%
• Cash-on-cash: -49.42%
• DSCR: -1.20
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -2.22×
• Total profit: $-135,253
• Equity at exit: $22,365

10-year hold

• IRR: —
• Equity multiple: -5.25×
• Total profit: $-262,656
• Equity at exit: $12,969

Cash invested: $42,000 (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 50131

• Home prices YoY: -26.0%
• Rents YoY: 1.5%
• Active inventory: 376
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA est. from 2 same-building comps: −$1,632
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-1,730

Break-even live

Break-even rent $3,378

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,626	-5% $-1,678	+0% $-1,730	+5% $-1,782	+10% $-1,833
Rent	-10% $-1,824	-5% $-1,777	+0% $-1,730	+5% $-1,683	+10% $-1,636
Rate	-1.0pp $-1,654	-0.5pp $-1,692	base $-1,730	+0.5pp $-1,769	+1.0pp $-1,808

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8650 Crescent Chase Johnston, IA	2.0	2.0	950	$1,009	$1.06	14d	6	0.22mi
9577 White Oak Ln Johnston, IA	2.0	2.0	970	$1,264	$1.30	14d	4	0.47mi
10320 Norfolk Dr #4 Johnston, IA	2.0	2.0	1014	$1,345	$1.33	24d	1	0.96mi
10301 Dorset Dr Unit 01 Johnston, IA	2.0	2.0	990	$1,340	$1.35	44d	1	0.98mi
6030 Bremen Ct #13 Johnston, IA	2.0	2.0	1014	$1,195	$1.18	44d	1	1.00mi
10457 Dorset Dr Unit 22 Johnston, IA	2.0	2.0	990	$1,290	$1.30	44d	1	1.06mi
10535 Norfolk Dr Johnston, IA	2.0–3.0	2.0	1099	$1,295	$1.18	44d	1	1.07mi
10516 Dorset Dr Unit 23 Johnston, IA	2.0	2.0	990	$1,290	$1.30	44d	1	1.08mi
10509 Dorset Dr Unit 6120-23 Johnston, IA	2.0	2.0	1014	$1,175	$1.16	44d	1	1.09mi
10509 Dorset Dr Unit 6120-01 Johnston, IA	2.0	2.0	1014	$1,225	$1.21	44d	1	1.09mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $150,000 Active 30 DOM
2. 2026-06-17
   days on market $150,000 Active 29 DOM
3. 2026-06-16
   days on market $150,000 Active 28 DOM
4. 2026-06-15
   days on market $150,000 Active 27 DOM
5. 2026-06-14
   days on market $150,000 Active 25 DOM
6. 2026-06-13
   days on market $150,000 Active 24 DOM
7. 2026-06-10
   days on market $150,000 Active 22 DOM
8. 2026-06-09
   days on market $150,000 Active 21 DOM
9. 2026-06-08
   days on market $150,000 Active 20 DOM
10. 2026-06-07
    days on market $150,000 Active 19 DOM
11. 2026-06-05
    days on market $150,000 Active 16 DOM
12. 2026-06-03
    days on market $150,000 Active 15 DOM
13. 2026-06-02
    days on market $150,000 Active 14 DOM
14. 2026-06-01
    days on market $150,000 Active 13 DOM
15. 2026-05-31
    days on market $150,000 Active 12 DOM
16. 2026-05-31
    days on market $150,000 Active 11 DOM
17. 2026-05-18
    listed $150,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $14,262
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − HOA: −$19,584
• − Depreciation: −$4,364
• Taxable loss: −$23,370
• Est. tax savings @ 24.0%: +$5,609
• After-tax cash flow: $-15,148/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 · 4 photos

Good 80/100 Cosmetic rehab

This move-in ready townhouse is in excellent condition with modern amenities and a spacious layout. It offers a good return on investment with minimal updates needed to enhance its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Both Replace ceiling fans with energy-efficient models — Energy-efficient fans can save on energy costs and improve the home's appeal.
• Both Install smart home devices — Smart home devices can increase convenience and add value to the home, especially for potential buyers or renters who prioritize technology.
• Rental Add a small outdoor seating area — An outdoor seating area can enhance the home's appeal for renters and add value to the property.
• Rental Add a small outdoor garden or planter box — A small outdoor garden or planter box can enhance the home's curb appeal and add value for renters who enjoy gardening or outdoor spaces.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Both Replace ceiling fans with energy-efficient models — Energy-efficient fans can save on energy costs and improve the home's appeal. ↑
• Both Install smart home devices — Smart home devices can increase convenience and add value to the home, especially for potential buyers or renters who prioritize technology. ↑
• Rental Add a small outdoor seating area — An outdoor seating area can enhance the home's appeal for renters and add value to the property. ↑
• Rental Add a small outdoor garden or planter box — A small outdoor garden or planter box can enhance the home's curb appeal and add value for renters who enjoy gardening or outdoor spaces. ↑

ⓘ 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: Johnston Community School District
• NCES district ID: 1915450
• Math proficiency: 78% ▼ -6.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $85,758
• Composite: 69.43/100
• National rank: #309
• State rank: #24 of 289 in IA

Livability — Johnston

• Score: 81/100
• State rank: #59
• US rank: #1344

Category grades

Amenities F Commute F Cost of living B 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: Johnston, IA
• County: Polk County · 453,298 people
• City population: 24,583
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 24,583
• Household income: $106,551
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 685.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Asian 7% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 4% American 3% Swiss 2%
• Foreign-born: 9% · China, Canada
• Languages at home: 88% English-only · Russian/Polish/Slavic 2% Chinese 2% Other Asian/Pacific 2%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.38%
• Current HPI: 203.3508
• Rent YoY: ▲ 1.47%
• 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

• 2026-05-18 Listed $150,000 DMMLS