2569 SE Hawkins Ave · West Des Moines, IA 50061

$231,000

3 bd · 2.5 ba · 1,562 sqft · Townhouse public records · 77 Days on market

Built 2023 Excellent condition 1,638 sqft lot $148/sqft · 13% below area Est $266k · 13% under $180/mo HOA · 9% of rent ↓ 6% since listing

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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).

• ARV discount +13.4/15.0
• Cash flow +9.8/30.0
• Schools +6.7/10.0
• Appreciation +5.1/10.0
• Condition / age +4.8/5.0
• Livability +4.4/5.0
• 1% rule +4.2/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

Built in 2023 and perfectly positioned in one of the most desirable spots in the neighborhood, this two-story townhome offers the ideal blend of style, space, and setting. Backing to a peaceful retention pond, you'll enjoy added privacy and scenic views right from your own backyard. Inside, the thoughtfully designed layout features 3 bedrooms and 3 bathrooms, with an open-concept main living area that's perfect for both everyday living and entertaining. The standout feature is the oversized primary suite, your own private retreat, with ample space to unwind and recharge. With its prime location, newer construction, and low-maintenance lifestyle, this home checks all the boxes for comfort and convenience in West Des Moines.

Key facts

• Newer construction
• Prime location
• $180 HOA

Tags

• OPEN-CONCEPT MAIN LIVING AREA
• OVERSIZED PRIMARY SUITE
• NEWER CONSTRUCTION
• LOW-MAINTENANCE LIFESTYLE
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $231k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (8.3% below list).
• Recommended offer: $205k (11.3% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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.
• Norwalk Community School District (suburban): math 76% / reading 76% proficiency, ranked #39 of 289 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 77 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($2k loan paydown + $620 appreciation (0.3% local appreciation)).
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $204,958 (11.3% 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 77 days. Have you received any prior offers? Is the seller open to a 11% 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: 0.92% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 9.1

CMA / ARV

• ARV (median comp): $265,826
• List price: $231,000
• Delta: -13.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4552 SE Rockford Ave	0.08mi	3/2.5	1,511 (-3%)	3mo	$224,900	$149	89
4528 SE Rockford Ave	0.08mi	3/2.5	1,511 (-3%)	4mo	$224,990	$149	88
2339 SE Callista Ave	0.12mi	3/2.5	1,511 (-3%)	2mo	$224,990	$149	87
2347 SE Callista Ave	0.12mi	3/2.5	1,511 (-3%)	3mo	$226,990	$150	87
2243 SE Morningdew Dr	0.15mi	3/2.5	1,511 (-3%)	1mo	$244,990	$162	86
2358 SE Callista Ave	0.11mi	3/2.5	1,511 (-3%)	5mo	$229,290	$152	85
4590 SE Rockford Ave	0.09mi	3/2.5	1,511 (-3%)	6mo	$244,990	$162	85
2248 SE Morningdew Dr	0.17mi	3/2.5	1,511 (-3%)	2mo	$240,000	$159	85
2224 SE Morningdew Dr	0.18mi	3/2.5	1,511 (-3%)	3mo	$239,990	$159	84
2374 SE Callista Ave	0.10mi	3/2.5	1,511 (-3%)	9mo	$239,990	$159	83
2331 SE Callista Ave	0.13mi	3/2.5	1,511 (-3%)	8mo	$239,990	$159	82
2366 SE Callista Ave	0.11mi	3/2.5	1,511 (-3%)	9mo	$239,990	$159	82

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

Projected returns pro-forma

0.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.80×
• Total profit: $-13,046
• Equity at exit: $70,193

10-year hold

• IRR: 1.5%
• Equity multiple: 1.17×
• Total profit: $10,892
• Equity at exit: $86,906

Cash invested: $64,680 (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 50061

• Home prices YoY: 0.1%
• Active inventory: 77
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,117 medium
• Mortgage (P&I): −$1,211
• Tax from tax record: −$332 /mo · $3,990/yr
• Insurance: −$96
• HOA: −$180
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-147

Break-even live

Break-even rent $2,304

Max offer price $204,958

Occupancy floor —

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: $57,750
• Closing costs: $6,930
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2486 SE Morningdew Dr West Des Moines, IA	3.0	2.5	1750	$2,250	$1.29	21d	1	0.06mi
2374 SE Callista Ave Cumming, IA	3.0	2.5	1511	$1,995	$1.32	44d	1	0.09mi

HOA detail

• Monthly dues: $180 · $2,160/yr

Listing history 25 events

1. 2026-06-18
   days on market $231,000 Active 77 DOM
2. 2026-06-17
   price $231,000 Active 76 DOM
3. 2026-06-17
   days on market $234,900 Active 76 DOM
4. 2026-06-16
   days on market $234,900 Active 75 DOM
5. 2026-06-15
   days on market $234,900 Active 74 DOM
6. 2026-06-14
   days on market $234,900 Active 72 DOM
7. 2026-06-13
   days on market $234,900 Active 71 DOM
8. 2026-06-10
   days on market $234,900 Active 69 DOM
9. 2026-06-09
   days on market $234,900 Active 68 DOM
10. 2026-06-08
    days on market $234,900 Active 67 DOM
11. 2026-06-07
    days on market $234,900 Active 66 DOM
12. 2026-06-05
    days on market $234,900 Active 63 DOM
13. 2026-06-03
    days on market $234,900 Active 62 DOM
14. 2026-06-02
    days on market $234,900 Active 61 DOM
15. 2026-06-01
    days on market $234,900 Active 60 DOM
16. 2026-05-31
    days on market $234,900 Active 59 DOM
17. 2026-05-31
    days on market $234,900 Active 58 DOM
18. 2026-05-12
    price $234,900 732-char remark

    Show marketing remark (732 chars)

    Built in 2023 and perfectly positioned in one of the most desirable spots in the neighborhood, this two-story townhome offers the ideal blend of style, space, and setting. Backing to a peaceful retention pond, you'll enjoy added privacy and scenic views right from your own backyard. Inside, the thoughtfully designed layout features 3 bedrooms and 3 bathrooms, with an open-concept main living area that's perfect for both everyday living and entertaining. The standout feature is the oversized primary suite, your own private retreat, with ample space to unwind and recharge. With its prime location, newer construction, and low-maintenance lifestyle, this home checks all the boxes for comfort and convenience in West Des Moines.

19. 2026-04-17
    price $239,900 732-char remark

    Show marketing remark (732 chars)

    Built in 2023 and perfectly positioned in one of the most desirable spots in the neighborhood, this two-story townhome offers the ideal blend of style, space, and setting. Backing to a peaceful retention pond, you'll enjoy added privacy and scenic views right from your own backyard. Inside, the thoughtfully designed layout features 3 bedrooms and 3 bathrooms, with an open-concept main living area that's perfect for both everyday living and entertaining. The standout feature is the oversized primary suite, your own private retreat, with ample space to unwind and recharge. With its prime location, newer construction, and low-maintenance lifestyle, this home checks all the boxes for comfort and convenience in West Des Moines.

20. 2026-04-05
    historical $2,200
21. 2026-04-02
    listed $245,000 Active 732-char remark

    Show marketing remark (732 chars)

    Built in 2023 and perfectly positioned in one of the most desirable spots in the neighborhood, this two-story townhome offers the ideal blend of style, space, and setting. Backing to a peaceful retention pond, you'll enjoy added privacy and scenic views right from your own backyard. Inside, the thoughtfully designed layout features 3 bedrooms and 3 bathrooms, with an open-concept main living area that's perfect for both everyday living and entertaining. The standout feature is the oversized primary suite, your own private retreat, with ample space to unwind and recharge. With its prime location, newer construction, and low-maintenance lifestyle, this home checks all the boxes for comfort and convenience in West Des Moines.

22. 2025-12-30
    listed $2,200
23. 2023-11-15
    soldstatus $249,990 Closed 1435-char remark

    Show marketing remark (1435 chars)

    D. R. Horton, America’s Builder, presents the Sydney townhome. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! ATTENTION CYLCLING ENTHUSIASTS, The Great Western Bike Train runs through the community!! A 19-mile journey awaits you! Hike, bike, run, walk, or cross-country ski along the former Great Western Railroad between Des Moines and Martensdale. This Two-Story Townhome 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 comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

24. 2023-07-24
    status Pending 1435-char remark

    Show marketing remark (1435 chars)

    D. R. Horton, America’s Builder, presents the Sydney townhome. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! ATTENTION CYLCLING ENTHUSIASTS, The Great Western Bike Train runs through the community!! A 19-mile journey awaits you! Hike, bike, run, walk, or cross-country ski along the former Great Western Railroad between Des Moines and Martensdale. This Two-Story Townhome 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 comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

25. 2023-06-27
    listed $249,990 Active 1435-char remark

    Show marketing remark (1435 chars)

    D. R. Horton, America’s Builder, presents the Sydney townhome. ALL APPLIANCES AND WINDOW BLINDS INCLUDED! ATTENTION CYLCLING ENTHUSIASTS, The Great Western Bike Train runs through the community!! A 19-mile journey awaits you! Hike, bike, run, walk, or cross-country ski along the former Great Western Railroad between Des Moines and Martensdale. This Two-Story Townhome 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 comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

ⓘ 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: $3,990 · $332/mo
• Projected year-2 tax: $3,990 · $332/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,408
• − Mortgage interest: −$12,940
• − Property taxes: −$3,990
• − Insurance: −$1,155
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − HOA: −$2,160
• − Depreciation: −$6,720
• Taxable loss: −$5,622
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $-420/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 · 13 photos

Excellent 95/100 None rehab

This 2023-built townhome is in excellent condition with no visible repairs needed. It offers a modern, open floor plan and is well-maintained, making it an ideal choice for both resale and rental.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances curb appeal and adds value
• Both Painting interior walls — Fresh paint can make a home more inviting
• Both Add smart home features — Improves convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances curb appeal and adds value ↑
• Both Painting interior walls — Fresh paint can make a home more inviting ↑
• Both Add smart home features — Improves convenience and adds modern appeal ↑

ⓘ 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: Norwalk Community School District
• NCES district ID: 1921240
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $76,652
• Composite: 66.9/100
• National rank: #401
• State rank: #39 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
• City population: 71,011
• Population (ZIP): 2,327

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 5% Lithuanian 4% American 3%
• Foreign-born: 7% · South Korea, China
• Languages at home: 93% English-only · Russian/Polish/Slavic 5% Chinese 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.27%
• Current HPI: 231.7596
• Rent YoY: —
• Metro: —
• 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

-6.0% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $234,900 DMMLS
• 2026-04-17 Price Changed $239,900 DMMLS
• 2026-04-05 Rental Removed $2,200 Avail
• 2026-04-02 Listed $245,000 DMMLS
• 2025-12-30 Listed for Rent $2,200 Avail
• 2023-11-15 Sold (MLS) $249,990 DMMLS
• 2023-07-24 Pending — DMMLS
• 2023-06-27 Listed $249,990 DMMLS

Property tax history

+199400.0%/yr

Latest (2025): $3,990 · +199400.0% YoY. Source: county tax records.