Olsen Plan · Urbandale, IA 50323

$314,990

3 bd · 3.0 ba · 1,410 sqft · MultiFamily · 400 Days on market

Good condition ↓ 4% 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).

• Cash flow +18.6/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

Key facts

• Quartz countertops
• Beautiful kitchen
• Finished basement

Tags

• FINISHED BASEMENT
• SPACIOUS ENTRYWAY
• GENEROUSLY SIZED GUEST BEDROOM
• BEAUTIFUL KITCHEN
• WHITE CABINETRY
• QUARTZ COUNTERTOPS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (0.2% below list).
• Recommended offer: $277k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (4.8% local appreciation)).
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 400 days — a 12% lower offer ($277k) 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 $277,191 (12.0% below list)

Questions for the listing agent

1. It's been on market 400 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 8.4

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: 16.0%
• Equity multiple: 2.01×
• Total profit: $88,694
• Equity at exit: $174,827

10-year hold

• IRR: 16.5%
• Equity multiple: 3.87×
• Total profit: $253,083
• Equity at exit: $298,734

Cash invested: $88,197 (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: 25.1×

Monthly cashflow live

• Estimated rent: $3,143 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $306

Break-even live

Break-even rent $2,755

Max offer price $314,990

Occupancy floor 85%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,144
Total (3 units)			$3,143

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: $78,748
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	14d	1	0.11mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	14d	1	0.39mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	43d	1	0.41mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	43d	1	0.50mi
4401 N Warrior Ln Clive, IA	2.0	2.0	2022	$2,875	$1.42	19d	1	0.97mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	43d	1	1.27mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	23d	1	1.28mi
835 NE Redwood Blvd Waukee, IA	2.0	2.0	1457	$2,235	$1.53	14d	3	1.33mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	43d	1	1.35mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	21d	1	1.37mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	19d	1	1.38mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	14d	1	1.41mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	14d	8	1.42mi

Listing history 21 events

1. 2026-06-18
   days on market $314,990 Active 400 DOM
2. 2026-06-17
   days on market $314,990 Active 399 DOM
3. 2026-06-16
   days on market $314,990 Active 398 DOM
4. 2026-06-15
   days on market $314,990 Active 397 DOM
5. 2026-06-14
   days on market $314,990 Active 395 DOM
6. 2026-06-13
   days on market $314,990 Active 394 DOM
7. 2026-06-10
   days on market $314,990 Active 392 DOM
8. 2026-06-09
   days on market $314,990 Active 391 DOM
9. 2026-06-08
   days on market $314,990 Active 390 DOM
10. 2026-06-07
    days on market $314,990 Active 389 DOM
11. 2026-06-05
    days on market $314,990 Active 386 DOM
12. 2026-06-03
    days on market $314,990 Active 385 DOM
13. 2026-06-02
    days on market $314,990 Active 384 DOM
14. 2026-06-01
    days on market $314,990 Active 383 DOM
15. 2026-05-31
    days on market $314,990 Active 382 DOM
16. 2026-05-31
    days on market $314,990 Active 381 DOM
17. 2026-01-24
    status Active 1135-char remark

    Show marketing remark (1135 chars)

    Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

18. 2025-12-09
    historical 1135-char remark

    Show marketing remark (1135 chars)

    Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

19. 2025-11-08
    price $314,990 1135-char remark

    Show marketing remark (1135 chars)

    Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

20. 2025-10-15
    price $318,990 1135-char remark

    Show marketing remark (1135 chars)

    Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

21. 2025-03-29
    listed $328,990 Active 1135-char remark

    Show marketing remark (1135 chars)

    Your new home awaits in the Mallard Prairie Twinhomes community in Urbandale, IA. The Olsen floor plan is a ranch-style home featuring 3 bedrooms, 3 bathrooms, and 1,410 sq. ft. of living space with a finished basement. As you enter from the front door, the foyer opens to a spacious entryway overlooking the stairs to the lower level. Across from the stairs, you'll find the laundry room, guest bathroom, and a generously sized bedroom. Continuing down the foyer, two closets for coats and linens lead to the heart of the home. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and a large island with seating, flowing into the dining and living areas for easy entertaining. At the rear, a full-panel glass door and large window lead to the covered patio, perfect for morning coffee or evening relaxation. The primary bedroom includes an en-suite bath with a separate water closet and walk-in closet. The finished basement offers an additional bedroom, a bathroom, a spacious rec room, and two large storage rooms. Make the Olsen floor plan your new home in the Mallard Prairie Twinhomes community!

ⓘ 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: $37,716
• − Mortgage interest: −$17,644
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,017
• − Management: −$3,017
• − Depreciation: −$9,163
• Taxable loss: −$1,426
• Est. tax savings @ 24.0%: +$342
• After-tax cash flow: $4,016/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready multi-family home in Urbandale, IA, offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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: 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

-4.3% since first listed

5 events — show timeline

• 2026-01-24 Relisted — Zillow
• 2025-12-09 Delisted — Zillow
• 2025-11-08 Price Changed $314,990 Zillow
• 2025-10-15 Price Changed $318,990 Zillow
• 2025-03-29 Listed $328,990 Zillow