1288 NW Williamsburg Ln · Waukee, IA 50263

$355,000

4 bd · 2.5 ba · 1,875 sqft · Other public records · 73 Days on market

Built 2024 5,400 sqft lot $189/sqft · at area comps Est $352k · at est. $17/mo HOA · 1% 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).

• Cash flow +9.8/30.0
• ARV discount +7.1/15.0
• Schools +7.1/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautiful two-story Waukee home featuring 4 bedrooms and 2.5 bathrooms with a bright, open-concept design perfect for everyday living and entertaining. From the welcoming foyer, you’re drawn into a spacious and inviting great room highlighted by a stylish updated electric fireplace. The gourmet kitchen shines with quartz countertops, an oversized island, and updated lighting, seamlessly connecting to the dining and living areas ideal for hosting gatherings or enjoying quiet nights at home. Upstairs, the oversized primary suite offers a private retreat with an ensuite bathroom and a large walk-in closet. Three additional bedrooms, a dual-vanity bathroom, and a generous laundry room complete the upper level. Step outside to enjoy the deck with easy access to a fully fenced backyard featuring a 6-foot white vinyl privacy fence perfect for relaxing or entertaining. A security system adds extra peace of mind. Located near Waukee Northwest schools and all the amenities Waukee has to offer, this home is move-in ready and waiting for you!

Key facts

• 5,400 sq ft lot
• 2 garage spots
• Built 2024

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $355k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (32.3% below list).
• Recommended offer: $240k (32.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.0% in Waukee — 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 84/100 on livability (#22 in IA, #682 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment 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.
• Market conditions: Rents rising (+1.8%/yr); 886 active listings in the ZIP; 10 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 $2k of loan paydown is wiped out by about $11k 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 73 days — a 6% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Recommended offer $240,215 (32.3% 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 73 days. Have you received any prior offers? Is the seller open to a 32% 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: 0.68% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.75%
• DSCR: 0.88
• GRM: 12.3

CMA / ARV

• ARV (median comp): $351,783
• List price: $355,000
• Delta: 0.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.25×
• Total profit: $-75,034
• Equity at exit: $52,932

10-year hold

• IRR: -18.9%
• Equity multiple: 0.03×
• Total profit: $-96,007
• Equity at exit: $30,694

Cash invested: $99,400 (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: 886
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,402 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$99 /mo · $1,190/yr
• Insurance: −$148
• HOA: −$17
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $-228

Break-even live

Break-even rent $2,691

Max offer price $314,715

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-128	+0% $-228	+5% $-329	+10% $-429
Rent	-10% $-418	-5% $-323	+0% $-228	+5% $-133	+10% $-38
Rate	-1.0pp $-49	-0.5pp $-138	base $-228	+0.5pp $-320	+1.0pp $-414

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1283 NW Williamsburg Ln Unit 1 Waukee, IA	4.0	3.0	1410	$2,495	$1.77	15d	1	0.07mi
655 NW Williamsburg Ln Waukee, IA	4.0	2.5	1875	$2,445	$1.30	15d	1	0.18mi
1110 NW Sproul Dr Waukee, IA	4.0	3.0	2028	$2,800	$1.38	24d	1	0.34mi
289 NW Charlestown Ln Waukee, IA	4.0	2.5	1767	$2,200	$1.25	44d	1	0.43mi
1036 NW Richmond Rd Waukee, IA	3.0	2.5	1450	$1,750	$1.21	24d	1	0.47mi
350 NW 6th St Waukee, IA	1.0–3.0	1.0–3.5	1163	$2,308	$1.98	15d	20	0.80mi
305 NW Morgan Ct Waukee, IA	5.0	3.5	2200	$2,595	$1.18	44d	1	1.11mi
284 NW Caspian Ct Waukee, IA	4.0	2.5	1605	$2,195	$1.37	15d	1	1.24mi
122 NW Pike Cir Waukee, IA	4.0	2.5	1809	$2,495	$1.38	44d	1	1.38mi
175 NW Common Pl Waukee, IA	1.0–3.0	1.0–2.5	929	$1,775	$1.91	15d	10	1.40mi

HOA detail

• Monthly dues: $17 · $204/yr
• Likely covers: electricsecurity

Listing history 22 events

1. 2026-06-18
   days on market $355,000 Active 73 DOM
2. 2026-06-17
   days on market $355,000 Active 72 DOM
3. 2026-06-16
   days on market $355,000 Active 71 DOM
4. 2026-06-15
   days on market $355,000 Active 70 DOM
5. 2026-06-14
   days on market $355,000 Active 68 DOM
6. 2026-06-13
   pricedays on market $355,000 Active 67 DOM
7. 2026-06-10
   days on market $364,900 Active 65 DOM
8. 2026-06-09
   days on market $364,900 Active 64 DOM
9. 2026-06-08
   days on market $364,900 Active 63 DOM
10. 2026-06-07
    days on market $364,900 Active 62 DOM
11. 2026-06-05
    days on market $364,900 Active 59 DOM
12. 2026-06-03
    days on market $364,900 Active 58 DOM
13. 2026-06-02
    days on market $364,900 Active 57 DOM
14. 2026-06-01
    days on market $364,900 Active 56 DOM
15. 2026-05-31
    days on market $364,900 Active 55 DOM
16. 2026-05-31
    days on market $364,900 Active 54 DOM
17. 2026-04-06
    listed $364,900 Active 1067-char remark

    Show marketing remark (1067 chars)

    Step into this beautiful two-story Waukee home featuring 4 bedrooms and 2.5 bathrooms with a bright, open-concept design perfect for everyday living and entertaining. From the welcoming foyer, you’re drawn into a spacious and inviting great room highlighted by a stylish updated electric fireplace. The gourmet kitchen shines with quartz countertops, an oversized island, and updated lighting, seamlessly connecting to the dining and living areas ideal for hosting gatherings or enjoying quiet nights at home. Upstairs, the oversized primary suite offers a private retreat with an ensuite bathroom and a large walk-in closet. Three additional bedrooms, a dual-vanity bathroom, and a generous laundry room complete the upper level. Step outside to enjoy the deck with easy access to a fully fenced backyard featuring a 6-foot white vinyl privacy fence perfect for relaxing or entertaining. A security system adds extra peace of mind. Located near Waukee Northwest schools and all the amenities Waukee has to offer, this home is move-in ready and waiting for you!

18. 2024-06-03
    soldstatus $329,575 Closed 1208-char remark

    Show marketing remark (1208 chars)

    D. R. Horton, America's Builder, presents the Edmon. This two-story home presents 4 Bedrooms and 2.5 Bathrooms in an open-concept layout. As you make your way through the Foyer, you’ll find a spacious and cozy Great Room complete with an electric fireplace. The Gourmet Kitchen with included Quartz countertops is perfect for entertaining with its Oversized Island overlooking the Dining and living areas. Heading up to the second level, you’ll find the oversized Primary Bedroom featuring an ensuite bathroom and large Walk-In Closet. The additional 3 Bedrooms, second dual-vanity Bathroom, and large Laundry Room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

19. 2023-12-02
    status Pending 1208-char remark

    Show marketing remark (1208 chars)

    D. R. Horton, America's Builder, presents the Edmon. This two-story home presents 4 Bedrooms and 2.5 Bathrooms in an open-concept layout. As you make your way through the Foyer, you’ll find a spacious and cozy Great Room complete with an electric fireplace. The Gourmet Kitchen with included Quartz countertops is perfect for entertaining with its Oversized Island overlooking the Dining and living areas. Heading up to the second level, you’ll find the oversized Primary Bedroom featuring an ensuite bathroom and large Walk-In Closet. The additional 3 Bedrooms, second dual-vanity Bathroom, and large Laundry Room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

20. 2023-11-13
    soldstatus $4,578,000
21. 2023-11-09
    listed $326,990 Active 1208-char remark

    Show marketing remark (1208 chars)

    D. R. Horton, America's Builder, presents the Edmon. This two-story home presents 4 Bedrooms and 2.5 Bathrooms in an open-concept layout. As you make your way through the Foyer, you’ll find a spacious and cozy Great Room complete with an electric fireplace. The Gourmet Kitchen with included Quartz countertops is perfect for entertaining with its Oversized Island overlooking the Dining and living areas. Heading up to the second level, you’ll find the oversized Primary Bedroom featuring an ensuite bathroom and large Walk-In Closet. The additional 3 Bedrooms, second dual-vanity Bathroom, and large Laundry Room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

22. 2023-04-04
    soldstatus $1,230,500

ⓘ 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: $1,190 · $99/mo
• Projected year-2 tax: $3,382 · $282/mo
• Expected delta: +$2,192/yr (+$183/mo · 184.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,826
• − Mortgage interest: −$19,886
• − Property taxes: −$1,190
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,306
• − Management: −$2,306
• − HOA: −$204
• − Depreciation: −$10,327
• Taxable loss: −$9,168
• Est. tax savings @ 24.0%: +$2,200
• After-tax cash flow: $-536/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

-70.3% since first listed

6 events — show timeline

• 2026-04-06 Listed $364,900 DMMLS
• 2024-06-03 Sold (MLS) $329,575 DMMLS
• 2023-12-02 Pending — DMMLS
• 2023-11-13 Sold (Public Records) $4,578,000 Public Records
• 2023-11-09 Listed $326,990 DMMLS
• 2023-04-04 Sold (Public Records) $1,230,500 Public Records

Property tax history

+315.3%/yr

Latest (2025): $1,190 · +29650.0% YoY. Source: county tax records.