14522 Northpark Dr · Urbandale, IA 50323

$416,990

5 bd · 2.5 ba · 2,045 sqft · Other · 62 Days on market

Built 2026 6,250 sqft lot $200/mo HOA · 8% of rent

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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 +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Cash flow +3.8/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0

Listing remarks

Beautifully maintained and thoughtfully designed, this two-story home in a desirable Urbandale location offers the perfect blend of comfort, space, and modern style. Featuring approximately 2,045 square feet of finished living space, this inviting property includes 5 bedrooms and 2.5 bathrooms with a functional, open-concept layout. The main level showcases soaring 9-foot ceilings with tray accents in the entry and great room, creating a bright and elegant atmosphere, along with a contemporary electric fireplace set against a stylish shiplap accent wall. The chef's kitchen is a true centerpiece, complete with quartz countertops, an oversized island with shiplap detail, a wide undermount sin

Key facts

• Quartz countertops
• Two story home
• Electric fireplace

Tags

• TWO STORY HOME
• OPEN CONCEPT LAYOUT
• ELECTRIC FIREPLACE
• CHEF'S KITCHEN
• QUARTZ COUNTERTOPS
• OVERSIZED ISLAND

Property features AI

Finance

• HOA & community: Homeowners association (Barrett Estates Plat 3) with a $200 monthly fee

Exterior

• Parking: Detached two-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Two-story home; New construction; Built by Kwality Custom Homes, LLC; Home warranty included; Zoned R
• Construction: Stone, stucco, and wood siding exterior; Asphalt shingle roof; Poured foundation
• Exterior features: Deck; Concrete road access; Rectangular lot

Interior

• Kitchen: Dishwasher; Microwave; Stove
• Bedrooms: One main-level bedroom
• Flooring: Carpet
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air; Forced air heating; Natural gas
• Interior features: Dining area; Eat-in kitchen; Fireplace (electric); Unfinished basement with egress windows
• Laundry & utility: Upper-level laundry

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath other listed at $417k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (42.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (43.2% below list).
• Recommended offer: $237k (43.2% below list) — sets the bar for 1% rule.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).
• This rent is only 16% 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 $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

• It's been on market 62 days — a 6% lower offer ($392k) is reasonable based on typical stale-listing flexibility.

Recommended offer $236,855 (43.2% 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 62 days. Have you received any prior offers? Is the seller open to a 43% 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: 0.57% ✗
• Cap rate: 2.81%
• Cash-on-cash: -12.44%
• DSCR: 0.45
• GRM: 14.7

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: 1.9%
• Equity multiple: 1.13×
• Total profit: $14,596
• Equity at exit: $231,440

10-year hold

• IRR: 5.2%
• Equity multiple: 1.97×
• Total profit: $113,375
• Equity at exit: $395,469

Cash invested: $116,757 (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: 14.7×

Monthly cashflow live

• Estimated rent: $2,369 medium
• Mortgage (P&I): −$2,187
• Tax est. 1.5%: −$521 /mo · $6,255/yr
• Insurance: −$174
• HOA: −$200
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-1,211

Break-even live

Break-even rent $3,901

Max offer price $241,819

Occupancy floor —

Sensitivity live

Price	-10% $-922	-5% $-1,066	+0% $-1,211	+5% $-1,355	+10% $-1,499
Rent	-10% $-1,398	-5% $-1,304	+0% $-1,211	+5% $-1,117	+10% $-1,023
Rate	-1.0pp $-1,001	-0.5pp $-1,105	base $-1,211	+0.5pp $-1,319	+1.0pp $-1,429

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: $104,248
• Closing costs: $12,510
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5440 154th Ct Urbandale, IA	4.0	3.5	2367	$2,200	$0.93	21d	1	0.67mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$2,096	$1.32	16d	8	0.67mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	46d	1	1.09mi

HOA detail

• Monthly dues: $200 · $2,400/yr
• Likely covers: electric

Listing history 18 events

1. 2026-06-21
   days on market $416,990 Active 62 DOM
2. 2026-06-18
   days on market $416,990 Active 59 DOM
3. 2026-06-17
   days on market $416,990 Active 58 DOM
4. 2026-06-16
   days on market $416,990 Active 57 DOM
5. 2026-06-15
   days on market $416,990 Active 56 DOM
6. 2026-06-14
   days on market $416,990 Active 54 DOM
7. 2026-06-13
   days on market $416,990 Active 53 DOM
8. 2026-06-10
   days on market $416,990 Active 51 DOM
9. 2026-06-09
   days on market $416,990 Active 50 DOM
10. 2026-06-08
    days on market $416,990 Active 49 DOM
11. 2026-06-07
    days on market $416,990 Active 48 DOM
12. 2026-06-05
    pricedays on market $416,990 Active 45 DOM
13. 2026-06-03
    days on market $414,900 Active 44 DOM
14. 2026-06-02
    days on market $414,900 Active 43 DOM
15. 2026-06-01
    days on market $414,900 Active 42 DOM
16. 2026-05-31
    days on market $414,900 Active 41 DOM
17. 2026-05-31
    days on market $414,900 Active 40 DOM
18. 2026-04-20
    listed $414,900 Active 1464-char remark

ⓘ 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: $28,423
• − Mortgage interest: −$23,358
• − Property taxes: −$6,255
• − Insurance: −$2,085
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − HOA: −$2,400
• − Depreciation: −$12,131
• Taxable loss: −$22,353
• Est. tax savings @ 24.0%: +$5,365
• After-tax cash flow: $-9,162/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

+0.5% since first listed

2 events — show timeline

• 2026-06-04 Price Changed $416,990 DMMLS
• 2026-04-20 Listed $414,900 DMMLS

Property tax history

-25.0%/yr

Latest (2025): $6 · -25.0% YoY. Source: county tax records.