Sydney Plan · Urbandale, IA 50323

$239,990

3 bd · 2.5 ba · 1,511 sqft · Townhouse · 4 Days on market

Good condition 2-car garage

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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 +7.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.4/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0

Listing remarks

Welcome to the Sydney floor plan in the Mallard Prairie Townhomes community in Urbandale, IA. This popular two-story townhome features 3 bedrooms, 2.5 bathrooms, a 2-car garage, and 1,511 sq. ft. of comfortable living space, complete with all appliances included. As you enter through the front door, the foyer leads past a guest bath into the spacious living room, complete with an electric fireplace and large windows that fill the main level with natural light. The open-concept kitchen overlooks the living and dining areas and features white cabinetry, quartz countertops, stainless steel appliances, a generous pantry, and a built-in island with seating for the adjacent dining nook.

Key facts

• Large windows
• Quartz countertops
• Open-concept kitchen

Tags

• ELECTRIC FIREPLACE
• LARGE WINDOWS
• OPEN-CONCEPT KITCHEN
• WHITE CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

🏗️ New construction. The $239,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $264,812.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (18.4% below list).
• Recommended offer: $196k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.5% 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: crime A+, amenities A+, employment 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.
• Zoned schools: Walnut Hills Elementary School (math 91% / reading 81%, grade A+, #26 of 616 statewide, top 4%, 625 students, 9% FRL); Waukee Middle School (math 83% / reading 81%, grade A+, #22 of 246 statewide, top 12%, 1,069 students, 12% FRL); Waukee High School (math 74% / reading 82%, grade A-, #53 of 336 statewide, top 16%, 1,268 students, 24% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 564 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).
• This rent is only 13% 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 $15k of equity ($2k loan paydown + $13k appreciation (4.8% local appreciation)).
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $195,809 (18.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.58%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (median comp): $264,812
• List price: $239,990
• Delta: -9.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4736 170th Pl	0.00mi	3/2.5	1,511 (0%)	1mo	$249,990	$165	99
4742 170th Pl	0.01mi	3/2.5	1,511 (0%)	3mo	$244,990	$162	97
4734 170th Pl	0.01mi	3/2.5	1,511 (0%)	4mo	$243,990	$161	97
4744 170th Pl	0.02mi	3/2.5	1,511 (0%)	3mo	$245,000	$162	96
4751 170th Pl	0.04mi	3/2.5	1,511 (0%)	3mo	$254,990	$169	96
4741 170th Pl	0.03mi	3/2.5	1,511 (0%)	4mo	$249,990	$165	95
4745 170th Pl	0.03mi	3/2.5	1,511 (0%)	5mo	$243,590	$161	94
4743 170th Pl	0.03mi	3/2.5	1,511 (0%)	5mo	$239,990	$159	94
4747 170th Pl	0.04mi	3/2.5	1,511 (0%)	5mo	$244,990	$162	94
17021 Persimmon Ln	0.04mi	3/2.5	1,511 (0%)	5mo	$240,000	$159	94
4754 171st St	0.05mi	3/2.5	1,511 (0%)	6mo	$242,990	$161	93
4776 172nd St	0.13mi	3/3.0	1,410 (-7%)	2mo	$323,390	$229	79

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

Projected returns pro-forma

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

5-year hold

• IRR: 8.5%
• Equity multiple: 1.54×
• Total profit: $40,127
• Equity at exit: $146,977

10-year hold

• IRR: 10.3%
• Equity multiple: 2.87×
• Total profit: $138,406
• Equity at exit: $251,146

Cash invested: $74,147 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 10 active · 21 under contract
• Months of supply: 2.7 mo (37%/mo absorbed)
• Median asking: $354,900 ($229/sqft)
• Median days on market: 205 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -23.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50323

• Home prices YoY: 2.5%
• Active inventory: 564
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$1,389
• Tax est. 1.5%: −$331 /mo · $3,972/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-283

Break-even live

Break-even rent $2,317

Max offer price $223,838

Occupancy floor —

Sensitivity live

Price	-10% $-100	-5% $-192	+0% $-283	+5% $-375	+10% $-466
Rent	-10% $-438	-5% $-361	+0% $-283	+5% $-206	+10% $-128
Rate	-1.0pp $-150	-0.5pp $-216	base $-283	+0.5pp $-352	+1.0pp $-422

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: $66,203
• Closing costs: $7,944
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4735 171st St Urbandale, IA	3.0	2.5	1511	$1,875	$1.24	13d	1	0.02mi
4735 171st St Urbandale, IA	3.0	2.5	1511	$1,875	$1.24	0d	1	0.02mi
4732 170th Pl Urbandale, IA	3.0	2.5	1711	$1,875	$1.10	21d	1	0.03mi
4735 170th Pl Urbandale, IA	3.0	2.5	1511	$1,875	$1.24	28d	1	0.03mi
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	155d	1	0.03mi
4746 171st St Urbandale, IA	3.0	2.5	1711	$1,895	$1.11	0d	1	0.04mi
4723 170th Pl Urbandale, IA	3.0	2.5	1511	$1,895	$1.25	107d	1	0.05mi
17124 Larkspur Ln Urbandale, IA	4.0	3.5	1618	$2,195	$1.36	0d	1	0.17mi
4669 171st St Urbandale, IA	3.0	3.0	1548	$2,195	$1.42	0d	1	0.17mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	155d	1	0.36mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	184d	1	0.38mi
4620 167th St Urbandale, IA	3.0	2.5	1529	$2,045	$1.34	31d	1	0.44mi
16639 Mill Pond Dr Urbandale, IA	3.0	2.5	1580	$2,295	$1.45	2d	1	0.44mi
16620 Oakwood Dr Urbandale, IA	3.0	3.5	1529	$2,400	$1.57	51d	1	0.47mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	184d	1	0.48mi
16509 Oakwood Dr Urbandale, IA	3.0	2.5	1529	$2,295	$1.50	0d	1	0.52mi
18203 Alpine Dr Clive, IA	3.0	2.0	1158	$2,350	$2.03	107d	1	0.99mi
4401 N Warrior Ln Clive, IA	2.0	2.0	2022	$2,875	$1.42	160d	1	1.05mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	184d	1	1.25mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	164d	1	1.26mi
15404 Townsend Ave Urbandale, IA	2.0	2.5	1240	$1,525	$1.23	51d	1	1.27mi
15229 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,475	$1.40	10d	1	1.32mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,400	$1.33	107d	1	1.32mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,850	$1.16	0d	8	1.32mi
4319 153rd St Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	43d	1	1.34mi
15305 Townsend Ave Urbandale, IA	2.0	2.5	1240	$1,535	$1.24	10d	1	1.34mi
4308 153rd Pl Urbandale, IA	3.0	2.5	1444	$1,775	$1.23	2d	1	1.34mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	162d	1	1.35mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	160d	1	1.36mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	155d	1	1.39mi
4306 152nd Pl Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	1d	1	1.40mi
835 NE Redwood Blvd Waukee, IA	2.0	2.0	1457	$2,096	$1.44	0d	4	1.41mi
15231 Deerview Dr Urbandale, IA	3.0	2.5	1512	$2,300	$1.52	107d	1	1.47mi
5624 153rd St Urbandale, IA	4.0	2.5	2065	$2,400	$1.16	10d	1	1.50mi

Property features AI

Exterior

• Parking: 2-car garage

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom

Listing history 50 events

1. 2026-11-08
   days on market $239,990 Active 4 DOM
2. 2026-11-07
   days on market $239,990 Active 3 DOM
3. 2026-11-06
   days on market $239,990 Active 2 DOM
4. 2026-11-04
   days on marketlisting id $239,990 Active 1 DOM
5. 2026-11-02
   days on market $239,990 Active 1055 DOM
6. 2026-11-01
   days on market $239,990 Active 1054 DOM
7. 2026-10-31
   days on market $239,990 Active 1053 DOM
8. 2026-10-30
   days on market $239,990 Active 1052 DOM
9. 2026-10-29
   days on market $239,990 Active 1051 DOM
10. 2026-10-28
    days on market $239,990 Active 1050 DOM
11. 2026-10-27
    days on market $239,990 Active 1049 DOM
12. 2026-10-26
    days on market $239,990 Active 1048 DOM
13. 2026-10-26
    days on market $239,990 Active 1047 DOM
14. 2026-10-24
    days on market $239,990 Active 1046 DOM
15. 2026-10-23
    days on market $239,990 Active 1045 DOM
16. 2026-10-22
    days on market $239,990 Active 1044 DOM
17. 2026-10-21
    days on market $239,990 Active 1043 DOM
18. 2026-10-20
    days on market $239,990 Active 1042 DOM
19. 2026-10-19
    days on market $239,990 Active 1041 DOM
20. 2026-10-18
    days on market $239,990 Active 1040 DOM
21. 2026-10-17
    days on market $239,990 Active 1039 DOM
22. 2026-10-16
    days on market $239,990 Active 1038 DOM
23. 2026-10-15
    days on market $239,990 Active 1037 DOM
24. 2026-10-14
    days on market $239,990 Active 1036 DOM
25. 2026-10-13
    days on market $239,990 Active 1035 DOM
26. 2026-10-12
    days on market $239,990 Active 1034 DOM
27. 2026-10-11
    days on market $239,990 Active 1033 DOM
28. 2026-10-10
    days on market $239,990 Active 1032 DOM
29. 2026-10-09
    days on market $239,990 Active 1031 DOM
30. 2026-10-08
    days on market $239,990 Active 1030 DOM
31. 2026-10-07
    days on market $239,990 Active 1029 DOM
32. 2026-10-06
    days on market $239,990 Active 1028 DOM
33. 2026-10-05
    days on market $239,990 Active 1027 DOM
34. 2026-10-04
    days on market $239,990 Active 1026 DOM
35. 2026-10-04
    days on market $239,990 Active 1025 DOM
36. 2026-10-02
    days on market $239,990 Active 1024 DOM
37. 2026-10-01
    days on market $239,990 Active 1023 DOM
38. 2026-09-30
    days on market $239,990 Active 1022 DOM
39. 2026-09-29
    days on market $239,990 Active 1021 DOM
40. 2026-09-28
    days on market $239,990 Active 1020 DOM
41. 2026-09-27
    days on market $239,990 Active 1019 DOM
42. 2026-09-25
    days on market $239,990 Active 1017 DOM
43. 2026-09-24
    days on market $239,990 Active 1016 DOM
44. 2026-09-23
    days on market $239,990 Active 1015 DOM
45. 2026-09-22
    days on market $239,990 Active 1014 DOM
46. 2026-09-21
    days on market $239,990 Active 1013 DOM
47. 2026-09-20
    days on market $239,990 Active 1012 DOM
48. 2026-09-19
    days on market $239,990 Active 1011 DOM
49. 2026-09-18
    days on market $239,990 Active 1010 DOM
50. 2026-09-17
    days on market $239,990 Active 1009 DOM

ⓘ 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 ≥102°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: $23,497
• − Mortgage interest: −$14,834
• − Property taxes: −$3,972
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − Depreciation: −$7,704
• Taxable loss: −$8,096
• Est. tax savings @ 24.0%: +$1,943
• After-tax cash flow: $-1,455/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 None rehab

This well-maintained townhouse in the Mallard Prairie Townhomes community in Urbandale, IA, is move-in ready with good condition and potential for further value enhancement.

Value-add opportunities

• Resale Paint the exterior siding — Enhances curb appeal and can add value ↑
• Both Replace carpet with hardwood flooring in bedrooms — Improves aesthetics and can increase both resale and rental value ↑
• Both Install smart home technology — Enhances convenience and can attract tech-savvy buyers ↑

B Composite school gradezoned avg 74/100

Zoned Schools

Elementary Radiant Elementary School A IA #172/616 Nat'l #2,597/41,679 High Northwest High School

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

A Composite livability gradescore 90/100

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 · 111,904 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: 10% of renters

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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%

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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%
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Chinese 1% Spanish 1%

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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

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Property features AI

Exterior

• Parking: 2-car garage

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom