4734 170th Pl · Urbandale, IA 50323

$244,990

3 bd · 2.5 ba · 1,545 sqft · Other public records · 332 Days on market

Built 2023 Good condition 1,560 sqft lot $159/sqft · 10% below area Est $266k · 8% under $175/mo HOA · 9% of rent

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Why this score? — see what drove the C 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 +13.0/30.0
• ARV discount +11.0/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

* MODEL HOME - NOT FOR SALE * D. R. Horton, America’s Builder, presents the Sydney Townhome in our new Mallard Prairie community conveniently located just around the corner from Radiant Elementary School and Acadia Park. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! The Sydney boasts 3 Bedrooms, 2.5 Bathrooms, and a 2-Car Garage in a spacious open floorplan. As you enter the home, you’ll be greeted with a beautiful Great Room featuring a cozy fireplace. The Gourmet Kitchen offers an Oversized Pantry and a Large Island, perfect for entertaining! On the second level, you’ll find the Primary Bedroom with an ensuite Bathroom featuring a dual vanity sink as well as a spacious Walk-In Closet. You’ll also find Two additional Large Bedrooms, full Bathroom, and Laundry Room! All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and DEAKO® decorative plug-n-play light switches with smart switch capability. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

Key facts

• Dual vanity sink
• Gourmet kitchen
• Large island

Tags

• GOURMET KITCHEN
• OVERSIZED PANTRY
• LARGE ISLAND
• PRIMARY BEDROOM
• ENSUITE BATHROOM
• DUAL VANITY SINK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-15 ($-177/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (16.6% below list).
• Recommended offer: $204k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.4% in Urbandale — 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 90/100 on livability (#4 in IA, #69 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities 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: 381 active listings in the ZIP; 13 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 14% 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 $13k of equity ($2k loan paydown + $12k appreciation (4.8% local appreciation)).
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,312 (16.6% 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 332 days. Have you received any prior offers? Is the seller open to a 17% 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. 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: 0.83% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $265,515
• List price: $244,990
• Delta: -7.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.77×
• Total profit: $52,832
• Equity at exit: $135,975

10-year hold

• IRR: 13.3%
• Equity multiple: 3.36×
• Total profit: $161,852
• Equity at exit: $232,346

Cash invested: $68,597 (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: 10.0×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$102
• HOA: −$175
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-15

Break-even live

Break-even rent $2,062

Max offer price $242,381

Occupancy floor 96%

Sensitivity live

Price	-10% $124	-5% $55	+0% $-15	+5% $-84	+10% $-153
Rent	-10% $-176	-5% $-95	+0% $-15	+5% $66	+10% $147
Rate	-1.0pp $109	-0.5pp $48	base $-15	+0.5pp $-78	+1.0pp $-143

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: $61,248
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	15d	1	0.03mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	15d	1	0.36mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	45d	1	0.38mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	45d	1	0.48mi
4401 N Warrior Ln Clive, IA	2.0	2.0	2022	$2,875	$1.42	20d	1	1.05mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	45d	1	1.25mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	24d	1	1.26mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	45d	1	1.32mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	15d	8	1.35mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	22d	1	1.35mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	20d	1	1.36mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	15d	1	1.39mi
835 NE Redwood Blvd Waukee, IA	2.0	2.0	1457	$2,235	$1.53	15d	3	1.41mi

HOA detail

• Monthly dues: $175 · $2,100/yr

Listing history 14 events

1. 2026-06-13
   statusdays on market $244,990 Pending 332 DOM
2. 2026-06-10
   days on market $244,990 Active 330 DOM
3. 2026-06-09
   days on market $244,990 Active 329 DOM
4. 2026-06-08
   days on market $244,990 Active 328 DOM
5. 2026-06-07
   days on market $244,990 Active 327 DOM
6. 2026-06-05
   days on market $244,990 Active 324 DOM
7. 2026-06-03
   days on market $244,990 Active 323 DOM
8. 2026-06-02
   days on market $244,990 Active 322 DOM
9. 2026-06-01
   days on market $244,990 Active 321 DOM
10. 2026-05-31
    days on market $244,990 Active 320 DOM
11. 2026-05-31
    days on market $244,990 Active 319 DOM
12. 2025-10-15
    price $249,990 1094-char remark

    Show marketing remark (1094 chars)

    * MODEL HOME - NOT FOR SALE * D. R. Horton, America’s Builder, presents the Sydney Townhome in our new Mallard Prairie community conveniently located just around the corner from Radiant Elementary School and Acadia Park. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! The Sydney boasts 3 Bedrooms, 2.5 Bathrooms, and a 2-Car Garage in a spacious open floorplan. As you enter the home, you’ll be greeted with a beautiful Great Room featuring a cozy fireplace. The Gourmet Kitchen offers an Oversized Pantry and a Large Island, perfect for entertaining! On the second level, you’ll find the Primary Bedroom with an ensuite Bathroom featuring a dual vanity sink as well as a spacious Walk-In Closet. You’ll also find Two additional Large Bedrooms, full Bathroom, and Laundry Room! All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and DEAKO® decorative plug-n-play light switches with smart switch capability. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

13. 2025-07-15
    listed $259,990 Active 1094-char remark

    Show marketing remark (1094 chars)

    * MODEL HOME - NOT FOR SALE * D. R. Horton, America’s Builder, presents the Sydney Townhome in our new Mallard Prairie community conveniently located just around the corner from Radiant Elementary School and Acadia Park. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! The Sydney boasts 3 Bedrooms, 2.5 Bathrooms, and a 2-Car Garage in a spacious open floorplan. As you enter the home, you’ll be greeted with a beautiful Great Room featuring a cozy fireplace. The Gourmet Kitchen offers an Oversized Pantry and a Large Island, perfect for entertaining! On the second level, you’ll find the Primary Bedroom with an ensuite Bathroom featuring a dual vanity sink as well as a spacious Walk-In Closet. You’ll also find Two additional Large Bedrooms, full Bathroom, and Laundry Room! All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and DEAKO® decorative plug-n-play light switches with smart switch capability. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

14. 2023-11-08
    soldstatus $1,699,000

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $2,325 · $194/mo
• Expected delta: +$1,521/yr (+$127/mo · 189.2%)

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

Taxation est. · year 1

• Rental income: $24,517
• − Mortgage interest: −$13,723
• − Property taxes: −$804
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − HOA: −$2,100
• − Depreciation: −$7,127
• Taxable loss: −$4,385
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $875/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This model home is in excellent condition with good curb appeal and a spacious floor plan. Minor updates to the exterior and fireplace can further enhance its resale and rental value.

Value-add opportunities

• Resale Paint the exterior — Enhances curb appeal and can add value
• Both Replace the fireplace screen — Improves aesthetics and functionality
• Both Install smart home devices — Enhances convenience and can add value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior — Enhances curb appeal and can add value ↑
• Both Replace the fireplace screen — Improves aesthetics and functionality ↑
• Both Install smart home devices — Enhances convenience and can add value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-85.3% since first listed

3 events — show timeline

• 2025-10-15 Price Changed $249,990 DMMLS
• 2025-07-15 Listed $259,990 DMMLS
• 2023-11-08 Sold (Public Records) $1,699,000 Public Records

Property tax history

+638.0%/yr

Latest (2025): $804 · +40100.0% YoY. Source: county tax records.