4622 153rd St · Urbandale, IA 50323

$574,500

4 bd · 4.5 ba · 3,233 sqft · SingleFamily public records · 22 Days on market

Built 2007 0.39 ac lot $178/sqft · 40% below area Est $724k · 21% under

---

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
• Cash flow +2.5/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This is it! This beautiful WALKOUT two story in prime Urbandale location is ready for new owners. With over 3,200 sqft of finish you'll love the attention to detail throughout the home. Upon entering you'll be greeted an oversized office on the main level with built in shelving and cabinets. Grand entry to living room with 3 picture windows overlooking your beautiful backyard. 9' ceilings on main level and basement. Large living room with corner fireplace transitions into breakfast area and great kitchen with TONS of cabinet space incl pantry. Slider off of kitchen to a composite deck. Locker system and 1/2 bath off garage. Upstairs offers 4 large bedrooms along with 3 FULL bathrooms. Master tucked to the rear of the home with COMPLETELY updated and remodeled master bath. New full tile shower, free standing tub, tiled backsplash, flooring and much more. Good sized walk-in closet off master bath. 2nd and 3rd bedrooms measure extremely well and share jack/jill bath. 4th bedroom w vaulted ceiling and private full bath. Laundry room w/ deep utility sink. Walk-out lower level has been recently finished with just over 800 sqft of finish. Brand new carpet down with wet bar w/ full size fridge overlooking living room, additional bonus living area tucked back. 3/4 bath rounds out the basement. Basketball court w/ hoop in back yard. Irrigation, new AC, new roof, new paint throughout house, plus much more. All information obtained from seller and public records.

Key facts

• Two story walkout
• Spa inspired bath
• Custom built ins

Tags

• TWO STORY WALKOUT
• DEDICATED OVERSIZED OFFICE
• CUSTOM BUILT INS
• LOW MAINTENANCE COMPOSITE DECK
• DROP ZONE WITH LOCKERS
• SPA INSPIRED BATH

Property features AI

Exterior

• Parking: Attached three-car garage
• Utilities: Public water; Public sewer
• Home design: Two stories; Vinyl siding; Asphalt shingle roof
• Construction: Vinyl siding construction; Asphalt shingle roof; Below-grade finished area
• Exterior features: Concrete road access; Smoke detectors

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: Three full bathrooms; One three-quarter bathroom; One half bathroom
• Heating & cooling: Forced air gas heating (natural gas); Central air conditioning
• Interior features: Dining area; Finished basement; One gas, vented fireplace
• Laundry & utility: Upper-level laundry; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath single-family listed at $574k.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (61.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (58.3% below list).
• Recommended offer: $222k (61.4% below list) — sets the bar for cash-flow.

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; 2 comparable units currently listed for rent nearby; 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 22 days — a 2% lower offer ($566k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $221,836 (61.4% 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: 0.42% ✗
• Cap rate: 2.12%
• Cash-on-cash: -14.89%
• DSCR: 0.34
• GRM: 20.0

CMA / ARV

• ARV (median comp): $723,971
• List price: $574,500
• Delta: -20.65%
• 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
15115 Goodman Dr	0.12mi	4/4.0	3,280 (+2%)	18mo	$657,000	$200	75
15217 Oakwood Dr	0.04mi	4/5.0	2,750 (-15%)	9mo	$1,100,000	$400	64
4812 160th St	0.60mi	5/4.5 (+1)	3,212 (-1%)	4mo	$857,500	$267	63
4829 159th St	0.42mi	5/5.0 (+1)	3,627 (+12%)	0mo	$1,300,000	$358	53
4724 162nd St	0.65mi	4/3.5	3,020 (-7%)	5mo	$885,000	$293	50
16202 Brookview Dr	0.75mi	4/4.5	3,068 (-5%)	10mo	$735,000	$240	48
16210 Goodman Dr	0.65mi	4/3.5	2,874 (-11%)	0mo	$800,000	$278	47
4300 161st St	0.73mi	5/4.5 (+1)	3,366 (+4%)	9mo	$635,000	$189	47
4315 162nd St	0.69mi	5/4.5 (+1)	3,423 (+6%)	12mo	$690,000	$202	43
4728 162nd St	0.65mi	5/4.5 (+1)	3,075 (-5%)	18mo	$849,624	$276	41
4704 162nd St	0.62mi	4/3.5	3,014 (-7%)	18mo	$875,000	$290	40
14419 Oakwood Dr	0.62mi	4/4.5	2,787 (-14%)	14mo	$595,000	$213	37

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: -0.1%
• Equity multiple: 0.99×
• Total profit: $-1,047
• Equity at exit: $318,862

10-year hold

• IRR: 3.6%
• Equity multiple: 1.68×
• Total profit: $109,892
• Equity at exit: $544,850

Cash invested: $160,860 (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: 20.0×

Monthly cashflow live

• Estimated rent: $2,396 medium
• Mortgage (P&I): −$3,013
• Tax from tax record: −$637 /mo · $7,644/yr
• Insurance: −$239
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-1,996

Break-even live

Break-even rent $4,923

Max offer price $221,836

Occupancy floor —

Sensitivity live

Price	-10% $-1,671	-5% $-1,834	+0% $-1,996	+5% $-2,159	+10% $-2,322
Rent	-10% $-2,186	-5% $-2,091	+0% $-1,996	+5% $-1,902	+10% $-1,807
Rate	-1.0pp $-1,707	-0.5pp $-1,850	base $-1,996	+0.5pp $-2,145	+1.0pp $-2,297

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: $143,625
• Closing costs: $17,235
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5440 154th Ct Urbandale, IA	4.0	3.5	2367	$2,200	$0.93	21d	1	0.95mi
3701 161st St Urbandale, IA	5.0	4.0	2252	$3,150	$1.40	45d	1	1.31mi

Listing history 14 events

1. 2026-05-06
   listed $574,500 Active 1466-char remark
2. 2025-05-01
   historical
3. 2025-04-03
   listed $579,900 Active
4. 2022-12-20
   soldstatus $500,000
5. 2022-12-16
   soldstatus $499,900 Closed

   Show marketing remark (1475 chars)

   This is it! This beautiful WALKOUT two story in prime Urbandale location is ready for new owners. With over 3,200 sqft of finish you'll love the attention to detail throughout the home. Upon entering you'll be greeted an oversized office on the main level with built in shelving and cabinets. Grand entry to living room with 3 picture windows overlooking your beautiful backyard. 9' ceilings on main level and basement. Large living room with corner fireplace transitions into breakfast area and great kitchen with TONS of cabinet space incl pantry. Slider off of kitchen to a composite deck. Locker system and 1/2 bath off garage. Upstairs offers 4 large bedrooms along with 3 FULL bathrooms. Master tucked to the rear of the home with COMPLETELY updated and remodeled master bath. New full tile shower, free standing tub, tiled backsplash, flooring and much more. Good sized walk-in closet off master bath. 2nd and 3rd bedrooms measure extremely well and share jack/jill bath. 4th bedroom w vaulted ceiling and private full bath. Laundry room w/ deep utility sink. Walk-out lower level has been recently finished with just over 800 sqft of finish. Brand new carpet down with wet bar w/ full size fridge overlooking living room, additional bonus living area tucked back. 3/4 bath rounds out the basement. Basketball court w/ hoop in back yard. Irrigation, new AC, new roof, new paint throughout house, plus much more. All information obtained from seller and public records.

6. 2022-11-21
   status Pending

   Show marketing remark (1475 chars)

   This is it! This beautiful WALKOUT two story in prime Urbandale location is ready for new owners. With over 3,200 sqft of finish you'll love the attention to detail throughout the home. Upon entering you'll be greeted an oversized office on the main level with built in shelving and cabinets. Grand entry to living room with 3 picture windows overlooking your beautiful backyard. 9' ceilings on main level and basement. Large living room with corner fireplace transitions into breakfast area and great kitchen with TONS of cabinet space incl pantry. Slider off of kitchen to a composite deck. Locker system and 1/2 bath off garage. Upstairs offers 4 large bedrooms along with 3 FULL bathrooms. Master tucked to the rear of the home with COMPLETELY updated and remodeled master bath. New full tile shower, free standing tub, tiled backsplash, flooring and much more. Good sized walk-in closet off master bath. 2nd and 3rd bedrooms measure extremely well and share jack/jill bath. 4th bedroom w vaulted ceiling and private full bath. Laundry room w/ deep utility sink. Walk-out lower level has been recently finished with just over 800 sqft of finish. Brand new carpet down with wet bar w/ full size fridge overlooking living room, additional bonus living area tucked back. 3/4 bath rounds out the basement. Basketball court w/ hoop in back yard. Irrigation, new AC, new roof, new paint throughout house, plus much more. All information obtained from seller and public records.

7. 2022-11-17
   listed $499,900 Active

   Show marketing remark (1475 chars)

   This is it! This beautiful WALKOUT two story in prime Urbandale location is ready for new owners. With over 3,200 sqft of finish you'll love the attention to detail throughout the home. Upon entering you'll be greeted an oversized office on the main level with built in shelving and cabinets. Grand entry to living room with 3 picture windows overlooking your beautiful backyard. 9' ceilings on main level and basement. Large living room with corner fireplace transitions into breakfast area and great kitchen with TONS of cabinet space incl pantry. Slider off of kitchen to a composite deck. Locker system and 1/2 bath off garage. Upstairs offers 4 large bedrooms along with 3 FULL bathrooms. Master tucked to the rear of the home with COMPLETELY updated and remodeled master bath. New full tile shower, free standing tub, tiled backsplash, flooring and much more. Good sized walk-in closet off master bath. 2nd and 3rd bedrooms measure extremely well and share jack/jill bath. 4th bedroom w vaulted ceiling and private full bath. Laundry room w/ deep utility sink. Walk-out lower level has been recently finished with just over 800 sqft of finish. Brand new carpet down with wet bar w/ full size fridge overlooking living room, additional bonus living area tucked back. 3/4 bath rounds out the basement. Basketball court w/ hoop in back yard. Irrigation, new AC, new roof, new paint throughout house, plus much more. All information obtained from seller and public records.

8. 2015-12-18
   soldstatus $327,000
9. 2015-12-18
   soldstatus $327,000
10. 2015-11-13
    listed $325,000
11. 2007-12-31
    soldstatus $310,204
12. 2007-07-20
    listed $305,900
13. 2005-01-21
    soldstatus $119,000
14. 2005-01-04
    soldstatus $432,000

ⓘ 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: $7,644 · $637/mo
• Projected year-2 tax: $8,332 · $694/mo
• Expected delta: +$688/yr (+$57/mo · 9.0%)

ⓘ 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 3/10 Moderate
• 🌡 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: $28,751
• − Mortgage interest: −$32,181
• − Property taxes: −$7,644
• − Insurance: −$2,872
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − Depreciation: −$16,713
• Taxable loss: −$35,259
• Est. tax savings @ 24.0%: +$8,462
• After-tax cash flow: $-15,494/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

+33.0% since first listed

15 events — show timeline

• 2026-05-28 Pending — DMMLS
• 2026-05-06 Listed $574,500 DMMLS
• 2025-05-01 Listing Removed — DMMLS
• 2025-04-03 Listed $579,900 DMMLS
• 2022-12-20 Sold (Public Records) $500,000 Public Records
• 2022-12-16 Sold (MLS) $499,900 DMMLS
• 2022-11-21 Pending — DMMLS
• 2022-11-17 Listed $499,900 DMMLS
• 2015-12-18 Sold (Public Records) $327,000 Public Records
• 2015-12-18 Sold (MLS) $327,000 DMMLS
• 2015-11-13 Listed $325,000 DMMLS
• 2007-12-31 Sold (MLS) $310,204 DMMLS
• 2007-07-20 Listed $305,900 DMMLS
• 2005-01-21 Sold (Public Records) $119,000 Public Records
• 2005-01-04 Sold (Public Records) $432,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $7,644 · +1.8% YoY. Source: county tax records.