9556 Crestview Dr · West Des Moines, IA 50266

$257,900

3 bd · 2.5 ba · 1,636 sqft · Other public records · 248 Days on market

Built 2021 1,742 sqft lot $158/sqft · 12% below area Est $292k · 12% under $170/mo HOA · 9% 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 +12.7/15.0
• Schools +7.1/10.0
• Cash flow +5.8/30.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This like 2 Story townhome has been used as a seasonal/2nd home by the current owners since it was built and its current condition makes that evident. It is truly move-in ready and "like-new". Near countless restaurants and amenities, the location of this place is great for anyone looking to be in the middle of everything. The sleek, modern exterior separates it from other townhomes in the area. The interior features 3 bedrooms, 2.5 bathrooms, and just over 1,600 finished sq feet. The main floor is bright and inviting with a gorgeous all white kitchen. Along with the bedrooms, the upper level is also where you'll find a 2nd living room or loft area, a unique feature in this townhome layout. The primary bedroom is cozy and offers "his & her" closets! If you're after a new construction townhome but don't love the 2025 new construction prices, this may be a great option for you. Reach out to set up a showing! All information obtained from seller and public records.

Key facts

• Modern exterior
• Move in ready
• Loft area

Tags

• MOVE IN READY
• MODERN EXTERIOR
• GORGEOUS ALL WHITE KITCHEN
• 2ND LIVING ROOM
• LOFT AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $258k.

Deal economics

• At list price, monthly cash flow is $-516 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (35.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (29.3% below list).
• Recommended offer: $167k (35.3% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 2.5% in West Des Moines — 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 87/100 on livability (#11 in IA, #336 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living 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.
• Market conditions: Rents rising (+1.9%/yr); 588 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $8k 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 248 days — a 12% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $166,819 (35.3% 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 248 days. Have you received any prior offers? Is the seller open to a 35% 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: 0.71% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.57%
• DSCR: 0.62
• GRM: 11.8

CMA / ARV

• ARV (median comp): $291,919
• List price: $257,900
• Delta: -11.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -32.7%
• Equity multiple: -0.06×
• Total profit: $-76,419
• Equity at exit: $38,454

10-year hold

• IRR: -45.8%
• Equity multiple: -0.61×
• Total profit: $-116,010
• Equity at exit: $22,298

Cash invested: $72,212 (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 50266

• Home prices YoY: -17.5%
• Rents YoY: 1.9%
• Active inventory: 588
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,822 high
• Mortgage (P&I): −$1,352
• Tax from tax record: −$325 /mo · $3,902/yr
• Insurance: −$107
• HOA: −$170
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-516

Break-even live

Break-even rent $2,475

Max offer price $166,819

Occupancy floor —

Sensitivity live

Price	-10% $-370	-5% $-443	+0% $-516	+5% $-589	+10% $-662
Rent	-10% $-660	-5% $-588	+0% $-516	+5% $-444	+10% $-372
Rate	-1.0pp $-386	-0.5pp $-450	base $-516	+0.5pp $-582	+1.0pp $-650

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: $64,475
• Closing costs: $7,737
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9160 Greenspire Dr #108 West Des Moines, IA	2.0	2.5	1526	$1,550	$1.02	15d	1	0.35mi
9065 Greenspire Dr #103 West Des Moines, IA	3.0	2.5	1525	$1,695	$1.11	24d	1	0.39mi
9055 Coneflower Dr #106 West Des Moines, IA	2.0	2.5	1510	$1,850	$1.23	15d	1	0.41mi
1284 SE Brownstone Way Waukee, IA	2.0	2.5	1254	$1,700	$1.36	24d	1	0.45mi
1276 SE Brownstone Way Waukee, IA	2.0	2.5	1254	$1,700	$1.36	45d	1	0.46mi
1695 SE Olson Dr Waukee, IA	4.0	3.0	1739	$2,495	$1.43	15d	1	0.47mi
1422 SE Emerald Dr Waukee, IA	2.0–3.0	2.0–2.5	1312	$1,800	$1.37	22d	4	0.48mi
2295 SE Glacier Trl Waukee, IA	1.0–2.0	1.0–2.0	870	$1,550	$1.78	24d	1	0.66mi
1439 SE Superior Ln Waukee, IA	2.0	2.5	1201	$1,800	$1.50	24d	1	0.72mi
1150 SE Olson Dr Waukee, IA	1.0–3.0	1.0–2.0	1076	$1,531	$1.42	15d	47	0.84mi
9068 Hayden Dr Waukee, IA	3.0	2.0	1461	$2,295	$1.57	15d	1	0.86mi
425 SE Waco Pl Waukee, IA	3.0	2.5	1816	$2,250	$1.24	22d	1	0.93mi
8601 Westown Pkwy West Des Moines, IA	2.0–3.0	2.0	1099	$1,395	$1.27	24d	1	0.95mi
730 SE Booth Ave Waukee, IA	4.0	2.5	2163	$2,600	$1.20	15d	1	1.01mi
260 SE Waco Pl Waukee, IA	3.0	2.0	1263	$1,795	$1.42	20d	1	1.06mi
266 SE Boulder Ct Waukee, IA	3.0	2.0	1263	$1,750	$1.39	45d	1	1.07mi
8602 Westown Pkwy West Des Moines, IA	2.0–3.0	2.0	1222	$1,378	$1.13	15d	9	1.09mi
8302 Westown Pkwy #2107 West Des Moines, IA	2.0	1.5	1056	$1,495	$1.42	45d	1	1.16mi
1325 SE Centennial Pkwy Waukee, IA	2.0–3.0	2.0	1358	$2,561	$1.89	15d	9	1.44mi

HOA detail

• Monthly dues: $170 · $2,040/yr

Listing history 36 events

1. 2026-06-21
   days on market $257,900 Active 248 DOM
2. 2026-06-18
   days on market $257,900 Active 245 DOM
3. 2026-06-17
   days on market $257,900 Active 244 DOM
4. 2026-06-16
   days on market $257,900 Active 243 DOM
5. 2026-06-15
   days on market $257,900 Active 242 DOM
6. 2026-06-14
   days on market $257,900 Active 240 DOM
7. 2026-06-13
   days on market $257,900 Active 239 DOM
8. 2026-06-10
   days on market $257,900 Active 237 DOM
9. 2026-06-09
   days on market $257,900 Active 236 DOM
10. 2026-06-08
    days on market $257,900 Active 235 DOM
11. 2026-06-07
    days on market $257,900 Active 234 DOM
12. 2026-06-05
    days on market $257,900 Active 231 DOM
13. 2026-06-03
    days on market $257,900 Active 230 DOM
14. 2026-06-02
    days on market $257,900 Active 229 DOM
15. 2026-06-01
    days on market $257,900 Active 228 DOM
16. 2026-05-31
    days on market $257,900 Active 227 DOM
17. 2026-05-31
    days on market $257,900 Active 226 DOM
18. 2026-04-16
    status Active 1002-char remark

    Show marketing remark (1002 chars)

    This like 2 Story townhome has been used as a seasonal/2nd home by the current owners since it was built and its current condition makes that evident. It is truly move-in ready and "like-new". Near countless restaurants and amenities, the location of this place is great for anyone looking to be in the middle of everything. The sleek, modern exterior separates it from other townhomes in the area. The interior features 3 bedrooms, 2.5 bathrooms, and just over 1,600 finished sq feet. The main floor is bright and inviting with a gorgeous all white kitchen. Along with the bedrooms, the upper level is also where you'll find a 2nd living room or loft area, a unique feature in this townhome layout. The primary bedroom is cozy and offers "his & her" closets! If you're after a new construction townhome but don't love the 2025 new construction prices, this may be a great option for you. Reach out to set up a showing! All information obtained from seller and public records.

19. 2026-04-14
    historical 1002-char remark

    Show marketing remark (1002 chars)

    This like 2 Story townhome has been used as a seasonal/2nd home by the current owners since it was built and its current condition makes that evident. It is truly move-in ready and "like-new". Near countless restaurants and amenities, the location of this place is great for anyone looking to be in the middle of everything. The sleek, modern exterior separates it from other townhomes in the area. The interior features 3 bedrooms, 2.5 bathrooms, and just over 1,600 finished sq feet. The main floor is bright and inviting with a gorgeous all white kitchen. Along with the bedrooms, the upper level is also where you'll find a 2nd living room or loft area, a unique feature in this townhome layout. The primary bedroom is cozy and offers "his & her" closets! If you're after a new construction townhome but don't love the 2025 new construction prices, this may be a great option for you. Reach out to set up a showing! All information obtained from seller and public records.

20. 2026-02-03
    price $257,900 1002-char remark

    Show marketing remark (1002 chars)

    This like 2 Story townhome has been used as a seasonal/2nd home by the current owners since it was built and its current condition makes that evident. It is truly move-in ready and "like-new". Near countless restaurants and amenities, the location of this place is great for anyone looking to be in the middle of everything. The sleek, modern exterior separates it from other townhomes in the area. The interior features 3 bedrooms, 2.5 bathrooms, and just over 1,600 finished sq feet. The main floor is bright and inviting with a gorgeous all white kitchen. Along with the bedrooms, the upper level is also where you'll find a 2nd living room or loft area, a unique feature in this townhome layout. The primary bedroom is cozy and offers "his & her" closets! If you're after a new construction townhome but don't love the 2025 new construction prices, this may be a great option for you. Reach out to set up a showing! All information obtained from seller and public records.

21. 2025-10-14
    listed $259,900 Active 1002-char remark

    Show marketing remark (1002 chars)

    This like 2 Story townhome has been used as a seasonal/2nd home by the current owners since it was built and its current condition makes that evident. It is truly move-in ready and "like-new". Near countless restaurants and amenities, the location of this place is great for anyone looking to be in the middle of everything. The sleek, modern exterior separates it from other townhomes in the area. The interior features 3 bedrooms, 2.5 bathrooms, and just over 1,600 finished sq feet. The main floor is bright and inviting with a gorgeous all white kitchen. Along with the bedrooms, the upper level is also where you'll find a 2nd living room or loft area, a unique feature in this townhome layout. The primary bedroom is cozy and offers "his & her" closets! If you're after a new construction townhome but don't love the 2025 new construction prices, this may be a great option for you. Reach out to set up a showing! All information obtained from seller and public records.

22. 2025-10-10
    historical
23. 2025-06-30
    price $260,000
24. 2025-05-13
    listed $265,000 Active
25. 2022-02-14
    soldstatus $252,490 Closed
26. 2022-01-14
    status Pending
27. 2022-01-10
    price $254,990
28. 2021-12-27
    price $250,990
29. 2021-12-10
    price $248,990
30. 2021-11-09
    price $244,990
31. 2021-07-20
    status Active
32. 2021-07-20
    price $248,990
33. 2021-05-10
    historical
34. 2021-05-05
    price $237,990
35. 2021-05-03
    price $231,990
36. 2021-04-07
    listed $231,490 Active

ⓘ 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: $3,902 · $325/mo
• Projected year-2 tax: $3,976 · $331/mo
• Expected delta: +$74/yr (+$6/mo · 1.9%)

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

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: $21,866
• − Mortgage interest: −$14,446
• − Property taxes: −$3,902
• − Insurance: −$1,290
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − HOA: −$2,040
• − Depreciation: −$7,503
• Taxable loss: −$10,813
• Est. tax savings @ 24.0%: +$2,595
• After-tax cash flow: $-3,592/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 — West Des Moines

• Score: 87/100
• State rank: #11
• US rank: #336

Category grades

Amenities A+ 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: West Des Moines, IA
• County: Dallas County · 77,082 people
• City population: 71,011
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 37,523
• Household income: $87,025
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1561.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 6% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 5% Italian 3% Iranian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Asian/Pacific 3% Other Indo-European 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: ▼ -43.24%
• Current HPI: 203.6979
• Rent YoY: ▲ 1.94%
• 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

+11.4% since first listed

19 events — show timeline

• 2026-04-16 Relisted — DMMLS
• 2026-04-14 Listing Removed — DMMLS
• 2026-02-03 Price Changed $257,900 DMMLS
• 2025-10-14 Listed $259,900 DMMLS
• 2025-10-10 Listing Removed — DMMLS
• 2025-06-30 Price Changed $260,000 DMMLS
• 2025-05-13 Listed $265,000 DMMLS
• 2022-02-14 Sold (MLS) $252,490 DMMLS
• 2022-01-14 Pending — DMMLS
• 2022-01-10 Price Changed $254,990 DMMLS
• 2021-12-27 Price Changed $250,990 DMMLS
• 2021-12-10 Price Changed $248,990 DMMLS
• 2021-11-09 Price Changed $244,990 DMMLS
• 2021-07-20 Relisted — DMMLS
• 2021-07-20 Price Changed $248,990 DMMLS
• 2021-05-10 Listing Removed — DMMLS
• 2021-05-05 Price Changed $237,990 DMMLS
• 2021-05-03 Price Changed $231,990 DMMLS
• 2021-04-07 Listed $231,490 DMMLS

Property tax history

+253.5%/yr

Latest (2025): $3,902 · +1.9% YoY. Source: county tax records.