Bellhaven Plan · Altoona, IA 50009

$344,990

4 bd · 2.5 ba · 2,053 sqft · SingleFamily · 300 Days on market

↓ 3% since listing

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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 +6.4/10.0
• Cash flow +4.7/30.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to the Bellhaven floor plan in the Spring Creek Ridge West community in Altoona, Iowa. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 2 or 3-car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, a walk-in pantry, and a large island with built-in sink and dishwasher-ideal for meal prep, serving, or casual dining. Upstairs, the centrally located laundry room with shelving makes chores easy. Three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Spring Creek Ridge West.

Key facts

• Large windows
• Bellhaven floor plan
• Electric fireplace

Tags

• BELLHAVEN FLOOR PLAN
• STUDY FLEX SPACE
• OPEN CONCEPT FLOOR PLAN
• ELECTRIC FIREPLACE
• LARGE WINDOWS
• SPACIOUS DINING AREA

🏗️ New construction. The $344,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $412,782.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (32.9% below list).
• Recommended offer: $232k (32.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#85 in IA, #1,757 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Southeast Polk Community School District (rural): math 73% / reading 73% proficiency, ranked #70 of 289 in IA (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+4.6%/yr); 309 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent runs 31% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 300 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.

Recommended offer $231,521 (32.9% 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 300 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.56% ✗
• Cap rate: 3.32%
• Cash-on-cash: -10.63%
• DSCR: 0.53
• GRM: 14.9

CMA / ARV

• ARV (median comp): $412,782
• List price: $344,990
• Delta: -16.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1048 34th St SE	0.06mi	4/2.5	2,053 (0%)	11mo	$361,490	$176	88
3309 Heartland Ct SE	0.03mi	5/3.5 (+1)	2,053 (0%)	11mo	$389,990	$190	81
8091 NE 30th Pl	0.35mi	4/2.5	1,944 (-5%)	10mo	$620,000	$319	66
3418 5th Ave SE	0.50mi	4/2.5	2,107 (+3%)	8mo	$429,990	$204	66
7980 NE 27th Ave	0.24mi	3/3.5 (-1)	2,227 (+8%)	2mo	$600,000	$269	64
546 34th St SE	0.42mi	4/2.5	1,877 (-9%)	8mo	$415,000	$221	60
641 34th St SE	0.39mi	3/2.0 (-1)	1,800 (-12%)	0mo	$524,866	$292	54
3406 5th Ave SE	0.49mi	4/2.5	1,809 (-12%)	6mo	$369,990	$205	52
550 25th St SE	0.68mi	4/2.5	1,918 (-7%)	7mo	$329,990	$172	51
2720 13th Ave SE	0.47mi	4/2.0	1,771 (-14%)	6mo	$344,900	$195	48
3400 5th Ave SE	0.49mi	3/2.0 (-1)	1,800 (-12%)	11mo	$458,990	$255	40
316 34th St SE	0.59mi	4/3.0	1,747 (-15%)	10mo	$460,000	$263	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -33.8%
• Equity multiple: -0.11×
• Total profit: $-128,238
• Equity at exit: $61,547

10-year hold

• IRR: -33.8%
• Equity multiple: -0.55×
• Total profit: $-179,316
• Equity at exit: $35,690

Cash invested: $115,579 (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 50009

• Rents YoY: 4.6%
• Active inventory: 309
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,315 medium
• Mortgage (P&I): −$2,165
• Tax est. 1.5%: −$516 /mo · $6,192/yr
• Insurance: −$172
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $-1,024

Break-even live

Break-even rent $3,611

Max offer price $264,661

Occupancy floor —

Sensitivity live

Price	-10% $-738	-5% $-881	+0% $-1,024	+5% $-1,166	+10% $-1,309
Rent	-10% $-1,207	-5% $-1,115	+0% $-1,024	+5% $-932	+10% $-841
Rate	-1.0pp $-816	-0.5pp $-919	base $-1,024	+0.5pp $-1,131	+1.0pp $-1,239

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: $103,195
• Closing costs: $12,383
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2605 6th Ave SW Altoona, IA	3.0	2.0	1642	$2,195	$1.34	24d	1	1.12mi
1500 Primrose Dr SE Altoona, IA	3.0	3.0	2750	$2,200	$0.80	44d	1	1.28mi

Listing history 17 events

1. 2026-06-18
   days on market $344,990 Active 300 DOM
2. 2026-06-17
   days on market $344,990 Active 299 DOM
3. 2026-06-16
   days on market $344,990 Active 298 DOM
4. 2026-06-15
   days on market $344,990 Active 297 DOM
5. 2026-06-14
   days on market $344,990 Active 295 DOM
6. 2026-06-10
   days on market $344,990 Active 292 DOM
7. 2026-06-09
   days on market $344,990 Active 291 DOM
8. 2026-06-08
   days on market $344,990 Active 290 DOM
9. 2026-06-07
   days on market $344,990 Active 289 DOM
10. 2026-06-03
    days on market $344,990 Active 285 DOM
11. 2026-06-02
    days on market $344,990 Active 284 DOM
12. 2026-06-01
    days on market $344,990 Active 283 DOM
13. 2026-05-31
    days on market $344,990 Active 282 DOM
14. 2026-05-31
    days on market $344,990 Active 281 DOM
15. 2026-01-23
    price $344,990 1424-char remark

    Show marketing remark (1424 chars)

    Welcome home to the Bellhaven floor plan in the Spring Creek Ridge West community in Altoona, Iowa. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 2 or 3-car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, a walk-in pantry, and a large island with built-in sink and dishwasher-ideal for meal prep, serving, or casual dining. Upstairs, the centrally located laundry room with shelving makes chores easy. Three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Spring Creek Ridge West.

16. 2025-11-06
    price $349,990 1424-char remark

    Show marketing remark (1424 chars)

    Welcome home to the Bellhaven floor plan in the Spring Creek Ridge West community in Altoona, Iowa. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 2 or 3-car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, a walk-in pantry, and a large island with built-in sink and dishwasher-ideal for meal prep, serving, or casual dining. Upstairs, the centrally located laundry room with shelving makes chores easy. Three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Spring Creek Ridge West.

17. 2025-08-22
    listed $354,990 Active 1424-char remark

    Show marketing remark (1424 chars)

    Welcome home to the Bellhaven floor plan in the Spring Creek Ridge West community in Altoona, Iowa. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 2 or 3-car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, a walk-in pantry, and a large island with built-in sink and dishwasher-ideal for meal prep, serving, or casual dining. Upstairs, the centrally located laundry room with shelving makes chores easy. Three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Spring Creek Ridge West.

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $27,783
• − Mortgage interest: −$23,122
• − Property taxes: −$6,192
• − Insurance: −$2,064
• − Repairs & maintenance: −$2,223
• − Management: −$2,223
• − Depreciation: −$12,008
• Taxable loss: −$20,049
• Est. tax savings @ 24.0%: +$4,812
• After-tax cash flow: $-7,472/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: Southeast Polk Community School District
• NCES district ID: 1926820
• Math proficiency: 73% ▼ -8.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $73,440
• Composite: 64.1/100
• National rank: #575
• State rank: #70 of 289 in IA

Livability — Altoona

• Score: 80/100
• State rank: #85
• US rank: #1757

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment A Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, IA
• County: Polk County · 453,298 people
• City population: 22,886
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 22,886
• Household income: $88,447
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 566.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 5% Portuguese 3% Italian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Arabic 1%

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: ▼ -154.79%
• Current HPI: 215.9041
• Rent YoY: ▲ 4.61%
• 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

-2.8% since first listed

3 events — show timeline

• 2026-01-23 Price Changed $344,990 Zillow
• 2025-11-06 Price Changed $349,990 Zillow
• 2025-08-22 Listed $354,990 Zillow