15369 Coyote Dr · Urbandale, IA 50111

$226,990

3 bd · 2.5 ba · 1,418 sqft · Other · 288 Days on market

Built 2025 1,120 sqft lot $195/mo HOA · 10% of rent ↓ 5% 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).

• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• 1% rule +3.8/10.0
• Rent growth +2.7/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Pearson, a townhome in Magnolia Heights Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,418 sq. ft. of thoughtfully designed living space with appliances included. Step into a welcoming foyer that leads into an open-concept main level, perfect for daily living and entertaining. The kitchen features white cabinetry, stainless steel appliances, and a large L-shaped island, ideal for casual dining and gatherings. The kitchen flows into the dining area and great room, where an electric fireplace adds a cozy touch. A half bathroom and access to the 1-car garage complete the main level. Upstairs, retreat to the spacious primary suite with a walk-in closet and private bath wit

Key facts

• Dual vanity sink
• Dedicated pantry
• Cozy fireplace

Tags

• ACCESS TO WAUKEE SCHOOLS
• COZY FIREPLACE
• DEDICATED PANTRY
• ISLAND OVER-LOOKING DINING
• ENSUITE BATHROOM
• DUAL VANITY SINK

Property features AI

Finance

• HOA & community: Homeowners association (Magnolia HOA) with a $195 monthly fee; managed by Edge Property Management

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: 2 stories; New construction; Vinyl siding
• Construction: Asphalt shingle roof; Poured slab foundation; Built by DR HORTON
• Exterior features: Open patio; Concrete road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bathrooms: One full bathroom; One three-quarter bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Electric, forced-air and gas heating
• Interior features: Dining area; Eat-in kitchen; Electric fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $227k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (11.7% below list).
• Recommended offer: $200k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.3% 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: 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: Rents flat; 329 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• It's been on market 288 days — a 12% lower offer ($200k) is reasonable based on typical stale-listing flexibility.

Recommended offer $199,751 (12.0% 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 288 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.88% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.42%
• DSCR: 0.85
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.17×
• Total profit: $-52,675
• Equity at exit: $33,845

10-year hold

• IRR: -30.8%
• Equity multiple: -0.22×
• Total profit: $-77,793
• Equity at exit: $19,626

Cash invested: $63,557 (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 50111

• Home prices YoY: -11.1%
• Rents YoY: 0.7%
• Active inventory: 329
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,003 high
• Mortgage (P&I): −$1,190
• Tax est. 1.5%: −$284 /mo · $3,405/yr
• Insurance: −$95
• HOA: −$195
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-181

Break-even live

Break-even rent $2,233

Max offer price $200,795

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-103	+0% $-181	+5% $-259	+10% $-338
Rent	-10% $-339	-5% $-260	+0% $-181	+5% $-102	+10% $-23
Rate	-1.0pp $-67	-0.5pp $-123	base $-181	+0.5pp $-240	+1.0pp $-300

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: $56,748
• Closing costs: $6,810
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	16d	1	0.45mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	16d	8	0.50mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	45d	1	0.62mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	45d	1	0.63mi
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	16d	1	1.00mi

HOA detail

• Monthly dues: $195 · $2,340/yr
• Likely covers: electric

Listing history 7 events

1. 2026-04-29
   status Pending
2. 2026-02-12
   price $226,990
3. 2026-01-08
   price $227,990
4. 2025-12-08
   price $229,990
5. 2025-11-06
   price $232,990
6. 2025-10-21
   price $237,990
7. 2025-07-15
   listed $239,990 Active

ⓘ 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: $24,040
• − Mortgage interest: −$12,715
• − Property taxes: −$3,405
• − Insurance: −$1,135
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − HOA: −$2,340
• − Depreciation: −$6,603
• Taxable loss: −$6,004
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $-731/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): 16,865
• Household income: $120,769
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 249.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 3% Italian 3% Iranian 2%
• Foreign-born: 6% · China, Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -30.93%
• Current HPI: 249.0614
• Rent YoY: ▲ 0.71%
• 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

-5.4% since first listed

7 events — show timeline

• 2026-04-29 Pending — DMMLS
• 2026-02-12 Price Changed $226,990 DMMLS
• 2026-01-08 Price Changed $227,990 DMMLS
• 2025-12-08 Price Changed $229,990 DMMLS
• 2025-11-06 Price Changed $232,990 DMMLS
• 2025-10-21 Price Changed $237,990 DMMLS
• 2025-07-15 Listed $239,990 DMMLS