1382 Meadow Rose Pl · Waukee, IA 50263

$232,900

2 bd · 1.5 ba · 1,294 sqft · Other public records · 129 Days on market

Built 2025 2,933 sqft lot $180/sqft · 20% below area Est $290k · 20% under $160/mo HOA · 10% 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 +15.0/15.0
• Schools +7.1/10.0
• Cash flow +5.5/30.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready end-unit Cypress plan by Signature Homes in Waukee! This beautifully designed 2-bedroom townhome features a bright, open layout with stylish finishes and a stunning white kitchen that anchors the main living space. Enjoy maintenance-free living with all appliances included, a private deck for relaxing or entertaining, and the added comfort of a heated garage. As an end unit, you’ll appreciate the extra natural light and added privacy. Spend time outdoors on the patio or deck, and enjoy peace of mind knowing the HOA allows fenced yards; ideal for kids and pets. Ideally located near walking trails, Sugar Creek Golf Course, and all the shopping, dining, and amenities Waukee has to offer—this home offers the perfect blend of comfort, style, and convenience. Virtual tour: https://youtube.com/shorts/yFk6vcAhMs0?feature=share

Key facts

• Stylish finishes
• Heated garage
• Cypress plan

Tags

• CYPRESS PLAN
• OPEN LAYOUT
• STYLISH FINISHES
• HEATED GARAGE
• MAINTENANCE-FREE LIVING
• WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $233k.

Deal economics

• At list price, monthly cash flow is $-499 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (31.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (31.0% below list).
• Recommended offer: $161k (31.0% below list) — sets the bar for cash-flow.
• Cap rate 3.7% vs local median 3.0% in Waukee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $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 129 days — a 12% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 3 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 $160,675 (31.0% 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. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 31% 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: 0.69% ✗
• Cap rate: 3.72%
• Cash-on-cash: -9.18%
• DSCR: 0.59
• GRM: 12.1

CMA / ARV

• ARV (median comp): $290,053
• List price: $232,900
• Delta: -19.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -34.0%
• Equity multiple: -0.09×
• Total profit: $-71,294
• Equity at exit: $34,726

10-year hold

• IRR: -51.6%
• Equity multiple: -0.69×
• Total profit: $-110,080
• Equity at exit: $20,137

Cash invested: $65,212 (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: 12.1×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$1,221
• Tax est. 1.5%: −$291 /mo · $3,494/yr
• Insurance: −$97
• HOA: −$160
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $-499

Break-even live

Break-even rent $2,240

Max offer price $160,675

Occupancy floor —

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: $58,225
• Closing costs: $6,987
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
940 10th St Waukee, IA	1.0–3.0	1.0–2.5	962	$1,435	$1.49	14d	79	0.28mi
1008 Maple St Waukee, IA	2.0	2.5	1524	$1,875	$1.23	14d	1	0.85mi
200 NW 2nd St Waukee, IA	2.0	1.0–2.0	746	$1,720	$2.31	14d	4	1.38mi
395 NW Blackberry St Waukee, IA	2.0	2.0	1349	$1,989	$1.47	14d	3	1.39mi
191 NW Lexington Dr Waukee, IA	1.0–2.0	1.0–2.0	911	$2,845	$3.12	14d	8	1.40mi

HOA detail

• Monthly dues: $160 · $1,920/yr

Listing history 21 events

1. 2026-06-18
   days on market $232,900 Active 129 DOM
2. 2026-06-17
   days on market $232,900 Active 128 DOM
3. 2026-06-16
   days on market $232,900 Active 127 DOM
4. 2026-06-15
   price $232,900 Active 126 DOM
5. 2026-06-15
   days on market $237,900 Active 126 DOM
6. 2026-06-14
   days on market $237,900 Active 124 DOM
7. 2026-06-13
   days on market $237,900 Active 123 DOM
8. 2026-06-10
   days on market $237,900 Active 121 DOM
9. 2026-06-09
   days on market $237,900 Active 120 DOM
10. 2026-06-08
    days on market $237,900 Active 119 DOM
11. 2026-06-07
    days on market $237,900 Active 118 DOM
12. 2026-06-05
    days on market $237,900 Active 115 DOM
13. 2026-06-03
    days on market $237,900 Active 114 DOM
14. 2026-06-02
    days on market $237,900 Active 113 DOM
15. 2026-06-01
    days on market $237,900 Active 112 DOM
16. 2026-05-31
    days on market $237,900 Active 111 DOM
17. 2026-05-31
    days on market $237,900 Active 110 DOM
18. 2026-02-12
    status Active 856-char remark

    Show marketing remark (856 chars)

    Move-in ready end-unit Cypress plan by Signature Homes in Waukee! This beautifully designed 2-bedroom townhome features a bright, open layout with stylish finishes and a stunning white kitchen that anchors the main living space. Enjoy maintenance-free living with all appliances included, a private deck for relaxing or entertaining, and the added comfort of a heated garage. As an end unit, you’ll appreciate the extra natural light and added privacy. Spend time outdoors on the patio or deck, and enjoy peace of mind knowing the HOA allows fenced yards; ideal for kids and pets. Ideally located near walking trails, Sugar Creek Golf Course, and all the shopping, dining, and amenities Waukee has to offer—this home offers the perfect blend of comfort, style, and convenience. Virtual tour: https://youtube.com/shorts/yFk6vcAhMs0?feature=share

19. 2025-11-11
    listed $242,900 Active 856-char remark

    Show marketing remark (856 chars)

    Move-in ready end-unit Cypress plan by Signature Homes in Waukee! This beautifully designed 2-bedroom townhome features a bright, open layout with stylish finishes and a stunning white kitchen that anchors the main living space. Enjoy maintenance-free living with all appliances included, a private deck for relaxing or entertaining, and the added comfort of a heated garage. As an end unit, you’ll appreciate the extra natural light and added privacy. Spend time outdoors on the patio or deck, and enjoy peace of mind knowing the HOA allows fenced yards; ideal for kids and pets. Ideally located near walking trails, Sugar Creek Golf Course, and all the shopping, dining, and amenities Waukee has to offer—this home offers the perfect blend of comfort, style, and convenience. Virtual tour: https://youtube.com/shorts/yFk6vcAhMs0?feature=share

20. 2025-11-03
    historical
21. 2025-07-09
    listed $242,900 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: $19,297
• − Mortgage interest: −$13,046
• − Property taxes: −$3,494
• − Insurance: −$1,164
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − HOA: −$1,920
• − Depreciation: −$6,775
• Taxable loss: −$10,190
• Est. tax savings @ 24.0%: +$2,446
• After-tax cash flow: $-3,544/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

+0.0% since first listed

4 events — show timeline

• 2026-02-12 Relisted — DMMLS
• 2025-11-11 Listed $242,900 DMMLS
• 2025-11-03 Listing Removed — DMMLS
• 2025-07-09 Listed $242,900 DMMLS

Property tax history

+0.0%/yr

Latest (2025): $2 · +0.0% YoY. Source: county tax records.