16524 Bentwood Dr · Urbandale, IA 50323

$379,900

4 bd · 3.0 ba · 2,191 sqft · Other public records · 222 Days on market

Built 2025 0.25 ac lot $23/mo HOA · 1% of rent ↓ 46% since listing

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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 +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Cash flow +5.4/30.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to this Urbandale community of Waterford Landing! This neighborhood features many home plans that includes the popular Jasmine ranch. This spacious main floor features open-concept living with a vaulted ceiling and a kitchen with an island and pantry. The main level also features three bedrooms and two baths. Finished lower level provides a large family room, fourth bedroom and additional bath. Our homes feature 15-year water proofing foundation, LVP flooring, passive radon system and more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice. ) Don't miss this incredible opportunity—schedule your to

Key facts

• Large family room
• Vaulted ceiling
• Lvp flooring

Tags

• OPEN-CONCEPT LIVING
• VAULTED CEILING
• KITCHEN WITH ISLAND
• FINISHED LOWER LEVEL
• LARGE FAMILY ROOM
• LVP FLOORING

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $380k.

Deal economics

• At list price, monthly cash flow is $-831 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (39.4% below list).
• Recommended offer: $230k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 3.7% 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: 378 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $21k of equity ($3k loan paydown + $18k 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 ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.

Recommended offer $230,057 (39.4% 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 222 days. Have you received any prior offers? Is the seller open to a 39% 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: 0.61% ✗
• Cap rate: 3.67%
• Cash-on-cash: -9.37%
• DSCR: 0.58
• GRM: 13.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.5%
• Equity multiple: 1.29×
• Total profit: $30,522
• Equity at exit: $210,854

10-year hold

• IRR: 7.2%
• Equity multiple: 2.32×
• Total profit: $140,202
• Equity at exit: $360,294

Cash invested: $106,372 (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: 378
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,301 high
• Mortgage (P&I): −$1,992
• Tax est. 1.5%: −$475 /mo · $5,698/yr
• Insurance: −$158
• HOA: −$23
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-831

Break-even live

Break-even rent $3,352

Max offer price $259,660

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	43d	1	0.51mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$2,096	$1.32	14d	8	0.87mi
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	14d	1	0.88mi
5440 154th Ct Urbandale, IA	4.0	3.5	2367	$2,200	$0.93	19d	1	0.88mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	43d	1	1.00mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	14d	1	1.01mi
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	14d	1	1.01mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	43d	1	1.07mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	43d	1	1.11mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	43d	1	1.37mi

HOA detail

• Monthly dues: $23 · $276/yr
• Likely covers: water

Listing history 7 events

1. 2026-03-23
   status Pending
2. 2026-03-12
   price $379,900
3. 2026-02-16
   price $384,900
4. 2026-02-02
   price $397,500
5. 2025-10-01
   price $399,900
6. 2025-08-13
   listed $429,900 Active
7. 2025-07-14
   soldstatus $702,000

ⓘ 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: $27,607
• − Mortgage interest: −$21,280
• − Property taxes: −$5,698
• − Insurance: −$1,900
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − HOA: −$276
• − Depreciation: −$11,052
• Taxable loss: −$17,016
• Est. tax savings @ 24.0%: +$4,084
• After-tax cash flow: $-5,888/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

-45.9% since first listed

7 events — show timeline

• 2026-03-23 Pending — DMMLS
• 2026-03-12 Price Changed $379,900 DMMLS
• 2026-02-16 Price Changed $384,900 DMMLS
• 2026-02-02 Price Changed $397,500 DMMLS
• 2025-10-01 Price Changed $399,900 DMMLS
• 2025-08-13 Listed $429,900 DMMLS
• 2025-07-14 Sold (Public Records) $702,000 Public Records

Property tax history

-10.6%/yr

Latest (2025): $8 · +33.3% YoY. Source: county tax records.