793 SE Willow Brook Dr · Waukee, IA 50263

$210,000

2 bd · 2.5 ba · 1,468 sqft · Townhouse public records · 6 Days on market

Built 2006 1,443 sqft lot $143/sqft · 7% below area Est $226k · 7% under $295/mo HOA · 19% 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 +10.7/15.0
• Schools +7.1/10.0
• Cash flow +5.3/30.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready two story, end unit, townhouse in the heart of Waukee! You love the open main level floor plan. The kitchen tons of cabinet and counter space, perfect for the cook in the family. Directly off the kitchen is a slider that leads to a concrete pad, perfect for grilling or a cafe table, dining area and living room w/ fireplace. The first floor is rounded off with a half bath and laundry room. Upper level has two bedrooms and two full baths and a loft that'd be perfect for an office or reading nook. The two car attached garage is a great spot to keep your vehicles out of the elements. This home is conveniently located near schools, all your daily amenities and easy access to Hickman, University and I-80. Come check it out and make this your next home sweet home.

Key facts

• Spacious living area
• Natural light
• Tile flooring

Tags

• NATURAL LIGHT
• SPACIOUS LIVING AREA
• FIREPLACE
• WELL-APPOINTED KITCHEN
• BREAKFAST BAR
• TILE FLOORING

Property features AI

Finance

• Other: Pet restrictions apply
• HOA & community: Homeowners association (Willow Brook Association) with a monthly fee of $295 covering grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story; Brick construction; Asphalt shingle roof; Slab foundation; Zoned residential; Concrete driveway/road access
• Construction: Built with brick; Asphalt shingle roof; Slab foundation
• Exterior features: Open patio

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dining area; Eat-in kitchen; Gas log fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry located on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (38.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (24.5% below list).
• Recommended offer: $128k (38.9% 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: crime A+, employment A+, housing 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.
• Zoned schools: Waukee Elementary School (math 86% / reading 77%, grade A+, #60 of 616 statewide, top 10%, 682 students, 20% 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).
• Market conditions: Rents rising (+1.8%/yr); 892 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $128,349 (38.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.43%
• DSCR: 0.58
• GRM: 11.0

CMA / ARV

• ARV (median comp): $226,018
• List price: $210,000
• Delta: -7.09%
• 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
806 SE White Oak Ln	0.03mi	2/2.5	1,468 (0%)	2mo	$200,000	$136	97
834 SE Crabapple Dr	0.06mi	3/2.5 (+1)	1,452 (-1%)	2mo	$225,000	$155	89
857 SE Lakeview Ln	0.07mi	2/2.5	1,430 (-3%)	5mo	$238,500	$167	88
1162 SE Williams Ct	0.64mi	3/2.5 (+1)	1,477 (+1%)	2mo	$248,500	$168	63
656 SE Williams Ct	0.67mi	3/2.5 (+1)	1,492 (+2%)	1mo	$232,000	$155	60
1313 SE University Ave #105	0.56mi	3/2.0 (+1)	1,420 (-3%)	4mo	$172,500	$121	58
1313 SE University Ave #206	0.56mi	3/2.0 (+1)	1,402 (-4%)	2mo	$185,000	$132	57
812 SE Williams Ct	0.72mi	2/2.5	1,538 (+5%)	2mo	$279,900	$182	57
1456 SE Primrose Ln	0.69mi	3/3.0 (+1)	1,406 (-4%)	3mo	$317,500	$226	52
1416 SE Primrose Ln	0.66mi	3/2.5 (+1)	1,406 (-4%)	8mo	$316,520	$225	51
1329 SE University Ave #102	0.61mi	3/2.0 (+1)	1,328 (-10%)	2mo	$193,000	$145	46
264 SE Booth Ave	0.73mi	3/2.5 (+1)	1,678 (+14%)	4mo	$219,000	$131	34

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -34.6%
• Equity multiple: -0.11×
• Total profit: $-65,141
• Equity at exit: $31,312

10-year hold

• IRR: -54.3%
• Equity multiple: -0.72×
• Total profit: $-101,329
• Equity at exit: $18,157

Cash invested: $58,800 (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: 892
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$230 /mo · $2,764/yr
• Insurance: −$88
• HOA: −$295
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-462

Break-even live

Break-even rent $2,170

Max offer price $128,349

Occupancy floor —

Sensitivity live

Price	-10% $-343	-5% $-403	+0% $-462	+5% $-522	+10% $-581
Rent	-10% $-587	-5% $-525	+0% $-462	+5% $-400	+10% $-337
Rate	-1.0pp $-356	-0.5pp $-409	base $-462	+0.5pp $-517	+1.0pp $-572

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 SE Olson Dr Waukee, IA	1.0–3.0	1.0–2.0	1076	$1,340	$1.25	16d	47	0.44mi
1320 SE Florence Dr Unit 16 Waukee, IA	2.0	2.0	995	$1,295	$1.30	26d	1	0.52mi
1340 SE Florence Dr Unit 31 Waukee, IA	2.0	2.0	995	$1,295	$1.30	46d	1	0.55mi
1325 SE Centennial Pkwy Waukee, IA	2.0–3.0	2.0	1358	$1,950	$1.44	16d	9	0.61mi
1422 SE Emerald Dr Waukee, IA	2.0–3.0	2.0–2.5	1312	$1,575	$1.20	23d	4	0.75mi
425 SE Waco Pl Waukee, IA	3.0	2.5	1816	$2,250	$1.24	23d	1	0.79mi
1276 SE Brownstone Way Waukee, IA	2.0	2.5	1254	$1,700	$1.36	46d	1	0.79mi
1284 SE Brownstone Way Waukee, IA	2.0	2.5	1254	$1,700	$1.36	26d	1	0.80mi
260 SE Waco Pl Waukee, IA	3.0	2.0	1263	$1,795	$1.42	21d	1	0.81mi
1400 SE Bishop Dr Waukee, IA	1.0–2.0	1.0–2.0	797	$1,358	$1.70	16d	10	0.87mi
1760 SE L.A. Grant Pkwy #35 Waukee, IA	2.0	2.0	1000	$1,300	$1.30	46d	1	0.88mi
500 NE Horizon Dr Waukee, IA	3.0	1.0–2.0	1027	$1,352	$1.32	16d	24	0.89mi
266 SE Boulder Ct Waukee, IA	3.0	2.0	1263	$1,750	$1.39	46d	1	0.91mi
307 NE Sandalwood Waukee, IA	2.0	2.0	1108	$1,550	$1.40	46d	1	0.99mi
854 NE Phlox Ave Waukee, IA	3.0	3.0	1596	$1,750	$1.10	16d	1	0.99mi
856 NE Larkspur Ave Unit 1 Waukee, IA	3.0	2.5	1630	$1,800	$1.10	46d	1	1.02mi
324 NE Sandalwood Waukee, IA	2.0	2.0	1108	$1,400	$1.26	26d	1	1.03mi
293 NE Basswood Waukee, IA	2.0	2.0	1120	$1,345	$1.20	26d	1	1.04mi
878 NE Traverse Dr Waukee, IA	3.0	3.0	1868	$2,050	$1.10	46d	1	1.06mi
386 NE Satinwood Waukee, IA	2.0	2.0	1056	$1,395	$1.32	46d	1	1.07mi
869 NE Traverse Dr Waukee, IA	3.0	3.0	1868	$2,095	$1.12	16d	1	1.08mi
175 NW Common Pl Waukee, IA	1.0–3.0	1.0–2.5	929	$1,407	$1.51	16d	10	1.22mi
2295 SE Glacier Trl Waukee, IA	1.0–2.0	1.0–2.0	870	$1,550	$1.78	26d	1	1.25mi
714 NE Alice's Rd Unit 620 Waukee, IA	2.0	2.0	1095	$1,300	$1.19	46d	1	1.36mi
714 NE Alice's Rd Unit 710 Waukee, IA	2.0	2.0	990	$1,225	$1.24	46d	1	1.36mi
714 NE Alice's Rd Unit 660 Waukee, IA	2.0	2.0	990	$1,275	$1.29	46d	1	1.36mi
200 NW 2nd St Waukee, IA	2.0	1.0–2.0	746	$1,720	$2.31	16d	4	1.50mi

HOA detail

• Monthly dues: $295 · $3,540/yr

Listing history 8 events

1. 2026-05-04
   status Pending 1172-char remark
2. 2026-05-04
   status Active 1172-char remark
3. 2026-05-04
   status Pending 1172-char remark
4. 2026-04-28
   listed $210,000 Active 1172-char remark
5. 2015-05-15
   soldstatus $135,000 781-char remark

   Show marketing remark (781 chars)

   Move in ready two story, end unit, townhouse in the heart of Waukee! You love the open main level floor plan. The kitchen tons of cabinet and counter space, perfect for the cook in the family. Directly off the kitchen is a slider that leads to a concrete pad, perfect for grilling or a cafe table, dining area and living room w/ fireplace. The first floor is rounded off with a half bath and laundry room. Upper level has two bedrooms and two full baths and a loft that'd be perfect for an office or reading nook. The two car attached garage is a great spot to keep your vehicles out of the elements. This home is conveniently located near schools, all your daily amenities and easy access to Hickman, University and I-80. Come check it out and make this your next home sweet home.

6. 2015-03-19
   listed $135,000 781-char remark

   Show marketing remark (781 chars)

   Move in ready two story, end unit, townhouse in the heart of Waukee! You love the open main level floor plan. The kitchen tons of cabinet and counter space, perfect for the cook in the family. Directly off the kitchen is a slider that leads to a concrete pad, perfect for grilling or a cafe table, dining area and living room w/ fireplace. The first floor is rounded off with a half bath and laundry room. Upper level has two bedrooms and two full baths and a loft that'd be perfect for an office or reading nook. The two car attached garage is a great spot to keep your vehicles out of the elements. This home is conveniently located near schools, all your daily amenities and easy access to Hickman, University and I-80. Come check it out and make this your next home sweet home.

7. 2014-07-01
   soldstatus $115,000
8. 2004-05-16
   soldstatus $945,600

ⓘ 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: $2,764 · $230/mo
• Projected year-2 tax: $3,030 · $253/mo
• Expected delta: +$266/yr (+$22/mo · 9.6%)

ⓘ 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: $19,016
• − Mortgage interest: −$11,763
• − Property taxes: −$2,764
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − HOA: −$3,540
• − Depreciation: −$6,109
• Taxable loss: −$9,253
• Est. tax savings @ 24.0%: +$2,221
• After-tax cash flow: $-3,326/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

-77.8% since first listed

9 events — show timeline

• 2026-06-12 Sold (MLS) $210,000 DMMLS
• 2026-05-04 Pending — DMMLS
• 2026-05-04 Relisted — DMMLS
• 2026-05-04 Pending — DMMLS
• 2026-04-28 Listed $210,000 DMMLS
• 2015-05-15 Sold (MLS) $135,000 DMMLS
• 2015-03-19 Listed $135,000 DMMLS
• 2014-07-01 Sold (Public Records) $115,000 Public Records
• 2004-05-16 Sold (Public Records) $945,600 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,764 · -2.2% YoY. Source: county tax records.