7815 Douglas Ave #108 · Urbandale, IA 50322

$74,900

2 bd · 1.5 ba · 958 sqft · Condo public records · 42 Days on market

Built 1971 $225/mo HOA · 22% of rent

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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 +15.3/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• DSCR +4.7/10.0
• Livability +4.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

Key facts

• Dedicated parking
• $225 HOA
• Built 1971

Tags

• LOW MAINTENANCE CONDO LIVING
• SECURE BUILDING ACCESS
• DEDICATED PARKING
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

Property features AI

Finance

• Other: Annual tax amount listed
• HOA & community: Monthly HOA fee of $225; Association: Executive Manner Owners Assoc; Additional association name: Stanbrough Realty Co. LLC

Exterior

• Utilities: Public water; Public sewer
• Home design: Condominium unit (address includes unit number)
• Exterior features: Concrete road surface; Zoned R-2

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Main-level living

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $28 ($334/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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.
• Urbandale Community School District (suburban): math 67% / reading 72% proficiency, ranked #116 of 289 in IA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.9%/yr); 280 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 13% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.35% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.37×
• Total profit: $-13,156
• Equity at exit: $11,168

10-year hold

• IRR: -24.0%
• Equity multiple: 0.05×
• Total profit: $-19,927
• Equity at exit: $6,476

Cash invested: $20,972 (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 50322

• Rents YoY: -0.9%
• Active inventory: 280
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,011 high
• Mortgage (P&I): −$393
• Tax from tax record: −$122 /mo · $1,460/yr
• Insurance: −$31
• HOA: −$225
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $28

Break-even live

Break-even rent $976

Max offer price $74,900

Occupancy floor 92%

Sensitivity live

Price	-10% $70	-5% $49	+0% $28	+5% $7	+10% $-15
Rent	-10% $-52	-5% $-12	+0% $28	+5% $68	+10% $108
Rate	-1.0pp $66	-0.5pp $47	base $28	+0.5pp $8	+1.0pp $-11

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7815 Douglas Ave Urbandale, IA	2.0	1.0	958	$995	$1.04	20d	1	0.03mi
3705 Elm Dr Unit 7604-5 Urbandale, IA	2.0	1.0	820	$880	$1.07	24d	1	0.15mi
3705 Elm Dr Unit 7608-1 Urbandale, IA	2.0	1.0	820	$962	$1.17	24d	1	0.15mi
3705 Elm Dr Unit 3620-11 Urbandale, IA	3.0	2.0	920	$1,145	$1.24	44d	1	0.15mi
3705 Elm Dr Unit 7709-8 Urbandale, IA	2.0	1.0	820	$860	$1.05	24d	1	0.15mi
3705 Elm Dr Unit 3610-10 Urbandale, IA	3.0	2.0	920	$1,085	$1.18	22d	1	0.15mi
7511 Dennis Dr Unit 3 Urbandale, IA	2.0	1.0	800	$850	$1.06	20d	1	0.21mi
8301 Colby Pkwy Urbandale, IA	1.0–2.0	1.0–2.0	932	$1,555	$1.67	15d	10	0.41mi
3241 86th St Urbandale, IA	1.0–2.0	1.0–2.0	882	$1,695	$1.92	15d	1	0.68mi
7800 Iltis Dr Urbandale, IA	2.0	1.0	850	$1,045	$1.23	15d	3	0.80mi
2510 Canterbury Rd Urbandale, IA	3.0	1.0–1.5	1192	$1,335	$1.12	15d	25	0.88mi
7715 Hickman Rd Apt 92 Urbandale, IA	2.0	1.0	900	$940	$1.04	44d	1	1.00mi
7715 Hickman Rd Unit 11 Urbandale, IA	2.0	1.0	900	$875	$0.97	24d	1	1.00mi
7715 Hickman Rd Unit 44 Urbandale, IA	2.0	1.0	900	$895	$0.99	24d	1	1.00mi
7715 Hickman Rd Unit 51 Urbandale, IA	2.0	1.0	900	$940	$1.04	24d	1	1.00mi
2221 NW 82nd St Clive, IA	1.0	1.0	720	$799	$1.11	44d	2	1.13mi
2617 Patricia Dr Urbandale, IA	2.0	1.0	805	$1,095	$1.36	44d	1	1.22mi
2401 Rocklyn Dr Urbandale, IA	2.0	1.5	800	$725	$0.91	44d	1	1.24mi
8825 Hickman Rd Urbandale, IA	1.0–2.0	1.0–2.0	809	$954	$1.18	15d	9	1.30mi
2230 68th St Apt 3 Windsor Heights, IA	2.0	1.0	800	$795	$0.99	15d	1	1.35mi
3650 Patricia Dr Urbandale, IA	2.0	1.0–2.0	842	$1,038	$1.23	22d	7	1.35mi
2234 68th St Windsor Heights, IA	2.0	1.0	800	$795	$0.99	15d	2	1.36mi
2234 68th St Apt 8 Windsor Heights, IA	2.0	1.0	800	$795	$0.99	24d	1	1.36mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-28
   status Pending 769-char remark

   Show marketing remark (769 chars)

   Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

2. 2026-04-28
   status Pending

   Show marketing remark (769 chars)

   Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

3. 2026-04-22
   price $74,900 769-char remark

   Show marketing remark (769 chars)

   Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

4. 2026-04-22
   price $74,900

   Show marketing remark (769 chars)

   Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

5. 2026-03-18
   listed $85,000 Active 769-char remark

   Show marketing remark (769 chars)

   Unit 108 at 7815 Douglas Ave offers affordable, low-maintenance condo living in a convenient Northwest Des Moines location near Merle Hay Mall, Urbandale, and quick access to I-80/I-35. This well-maintained lower unit features a functional layout with a large living area that could be split into a dining room and living room that is all connected to the kitchen. Off of this area you will find your first bedroom, a full bath and the master bedroom at the end of the hall. A unique feature of this unit is its proximity to the building laundry. Secure building access, dedicated parking, and easy access to shopping, dining, and downtown Des Moines make this a great option for first-time buyers or down sizers. All information obtained from seller and public record.

6. 2026-03-17
   listed $85,000 Active
7. 2026-03-10
   historical
8. 2026-02-27
   listed $85,000 Active
9. 2008-08-08
   soldstatus $67,000

ⓘ 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: $1,460 · $122/mo
• Projected year-2 tax: $1,460 · $122/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: $12,129
• − Mortgage interest: −$4,196
• − Property taxes: −$1,460
• − Insurance: −$374
• − Repairs & maintenance: −$970
• − Management: −$970
• − HOA: −$2,700
• − Depreciation: −$2,179
• Taxable loss: −$721
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $507/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: Urbandale Community School District
• NCES district ID: 1928680
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $71,098
• Composite: 60.95/100
• National rank: #807
• State rank: #116 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): 31,931
• Household income: $92,085
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 885.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Black 8% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Portuguese 5% Italian 4% Slovak 3%
• Foreign-born: 11% · Canada, Philippines, Vietnam
• Languages at home: 85% English-only · Spanish 6% Russian/Polish/Slavic 2% Other Asian/Pacific 2%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.49%
• Current HPI: 219.4557
• Rent YoY: ▼ -0.92%
• 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

+11.8% since first listed

9 events — show timeline

• 2026-04-28 Pending — CIBOR
• 2026-04-28 Pending — DMMLS
• 2026-04-22 Price Changed $74,900 CIBOR
• 2026-04-22 Price Changed $74,900 DMMLS
• 2026-03-18 Listed $85,000 CIBOR
• 2026-03-17 Listed $85,000 DMMLS
• 2026-03-10 Listing Removed — DMMLS
• 2026-02-27 Listed $85,000 DMMLS
• 2008-08-08 Sold (Public Records) $67,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,460 · +2.4% YoY. Source: county tax records.