5239 172nd St · Urbandale, IA 50323

$574,900

4 bd · 3.5 ba · 1,895 sqft · Other · 67 Days on market

Built 2026 8,400 sqft lot $303/sqft · 18% below area Est $703k · 18% under $15/mo HOA · 1% 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 +15.0/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.7/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to the Oakley by Destiny Homes, located in Urbandale's Bentley Ridge with Waukee Schools. This impressive ranch home offers 4 bedrooms, 4 bathrooms, and a 3-car garage. Designed with elevated finishes throughout, this home features a finished basement with 9' foundation walls. The spacious main level showcases a tray ceiling in the great room with large picture windows letting in abundant light. The kitchen is beautifully appointed with Legacy soft-close cabinetry, quartz countertops, gas appliances with vented range hood, built-in oven and microwave, and a large island with wainscoting detail, and upgraded fixtures to enhance the space. The primary suite includes a tray ceiling, a full tile shower and thoughtful design touches throughout. LVP flooring runs through the main living areas. A beautifully upgraded market home in a prime Urbandale location. Schedule your showing today! All information obtained from seller and public record. Estimated completion date of late June to early July. All information obtained from seller and public record.

Key facts

• 8,400 sq ft lot
• 3 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath other listed at $575k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (55.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (60.4% below list).
• Recommended offer: $228k (60.4% below list) — sets the bar for 1% rule.
• Cap rate 1.7% vs local median 2.4% in Urbandale — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 381 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 16% 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 $32k of equity ($4k loan paydown + $28k 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 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $227,546 (60.4% 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. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 60% 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: 0.40% ✗
• Cap rate: 1.72%
• Cash-on-cash: -16.33%
• DSCR: 0.27
• GRM: 21.1

CMA / ARV

• ARV (median comp): $703,270
• List price: $574,900
• Delta: -18.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.3%
• Equity multiple: 0.92×
• Total profit: $-13,260
• Equity at exit: $319,084

10-year hold

• IRR: 2.7%
• Equity multiple: 1.52×
• Total profit: $83,767
• Equity at exit: $545,230

Cash invested: $160,972 (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: 21.1×

Monthly cashflow live

• Estimated rent: $2,275 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,624/yr
• Insurance: −$240
• HOA: −$15
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-2,190

Break-even live

Break-even rent $5,048

Max offer price $257,947

Occupancy floor —

Sensitivity live

Price	-10% $-1,793	-5% $-1,992	+0% $-2,190	+5% $-2,389	+10% $-2,588
Rent	-10% $-2,370	-5% $-2,280	+0% $-2,190	+5% $-2,101	+10% $-2,011
Rate	-1.0pp $-1,901	-0.5pp $-2,044	base $-2,190	+0.5pp $-2,339	+1.0pp $-2,491

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: $143,725
• Closing costs: $17,247
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	16d	1	0.51mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	16d	1	0.81mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	45d	1	0.82mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	45d	1	0.92mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	45d	1	0.93mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$2,096	$1.32	16d	8	1.36mi
5440 154th Ct Urbandale, IA	4.0	3.5	2367	$2,200	$0.93	21d	1	1.42mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: gas

Listing history 19 events

1. 2026-06-21
   pricedays on market $574,900 Active 67 DOM
2. 2026-06-18
   days on market $590,500 Active 64 DOM
3. 2026-06-17
   days on market $590,500 Active 63 DOM
4. 2026-06-16
   days on market $590,500 Active 62 DOM
5. 2026-06-15
   days on market $590,500 Active 61 DOM
6. 2026-06-14
   days on market $590,500 Active 59 DOM
7. 2026-06-13
   days on market $590,500 Active 58 DOM
8. 2026-06-10
   days on market $590,500 Active 56 DOM
9. 2026-06-09
   days on market $590,500 Active 55 DOM
10. 2026-06-08
    days on market $590,500 Active 54 DOM
11. 2026-06-07
    days on market $590,500 Active 53 DOM
12. 2026-06-05
    days on market $590,500 Active 50 DOM
13. 2026-06-03
    days on market $590,500 Active 49 DOM
14. 2026-06-02
    days on market $590,500 Active 48 DOM
15. 2026-06-01
    days on market $590,500 Active 47 DOM
16. 2026-05-31
    days on market $590,500 Active 46 DOM
17. 2026-05-31
    days on market $590,500 Active 45 DOM
18. 2026-04-17
    listed $590,500 Active 1067-char remark

    Show marketing remark (1067 chars)

    Welcome to the Oakley by Destiny Homes, located in Urbandale's Bentley Ridge with Waukee Schools. This impressive ranch home offers 4 bedrooms, 4 bathrooms, and a 3-car garage. Designed with elevated finishes throughout, this home features a finished basement with 9' foundation walls. The spacious main level showcases a tray ceiling in the great room with large picture windows letting in abundant light. The kitchen is beautifully appointed with Legacy soft-close cabinetry, quartz countertops, gas appliances with vented range hood, built-in oven and microwave, and a large island with wainscoting detail, and upgraded fixtures to enhance the space. The primary suite includes a tray ceiling, a full tile shower and thoughtful design touches throughout. LVP flooring runs through the main living areas. A beautifully upgraded market home in a prime Urbandale location. Schedule your showing today! All information obtained from seller and public record. Estimated completion date of late June to early July. All information obtained from seller and public record.

19. 2026-04-15
    listed $590,500 Active 1067-char remark

    Show marketing remark (1067 chars)

    Welcome to the Oakley by Destiny Homes, located in Urbandale's Bentley Ridge with Waukee Schools. This impressive ranch home offers 4 bedrooms, 4 bathrooms, and a 3-car garage. Designed with elevated finishes throughout, this home features a finished basement with 9' foundation walls. The spacious main level showcases a tray ceiling in the great room with large picture windows letting in abundant light. The kitchen is beautifully appointed with Legacy soft-close cabinetry, quartz countertops, gas appliances with vented range hood, built-in oven and microwave, and a large island with wainscoting detail, and upgraded fixtures to enhance the space. The primary suite includes a tray ceiling, a full tile shower and thoughtful design touches throughout. LVP flooring runs through the main living areas. A beautifully upgraded market home in a prime Urbandale location. Schedule your showing today! All information obtained from seller and public record. Estimated completion date of late June to early July. All information obtained from seller and public record.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,306
• − Mortgage interest: −$32,203
• − Property taxes: −$8,624
• − Insurance: −$2,874
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − HOA: −$180
• − Depreciation: −$16,724
• Taxable loss: −$37,669
• Est. tax savings @ 24.0%: +$9,041
• After-tax cash flow: $-17,244/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 — 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

+0.0% since first listed

2 events — show timeline

• 2026-04-17 Listed $590,500 Zillow
• 2026-04-15 Listed $590,500 DMMLS

Property tax history

+0.0%/yr

Latest (2025): $6 · +0.0% YoY. Source: county tax records.