9124 Robinson Dr · West Des Moines, IA 50266

$280,000

3 bd · 2.5 ba · 1,591 sqft · Condo · 224 Days on market

Built 2025 $176/sqft · 29% below area Est $397k · 29% under $220/mo HOA · 11% of rent ↓ 11% 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 +15.0/15.0
• Schools +7.1/10.0
• Cash flow +5.8/30.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

Key facts

• Open main level
• Passive radon system
• Community amenities

Tags

• OPEN MAIN LEVEL
• FIREPLACE IN LIVING ROOM
• KITCHEN WITH PANTRY
• LVP FLOORING
• PASSIVE RADON SYSTEM
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-565 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (28.1% below list).
• Recommended offer: $198k (29.2% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 2.5% in West Des Moines — 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 87/100 on livability (#11 in IA, #336 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing 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: Woodland Hills Elementary School (math 79% / reading 68%, grade A, #172 of 616 statewide, top 28%, 537 students, 24% FRL); South Middle School (math 78% / reading 77%, grade A+, #50 of 246 statewide, top 20%, 909 students, 26% FRL); Waukee High School (math 74% / reading 82%, grade A-, #53 of 336 statewide, top 16%, 1,268 students, 24% FRL).
• Market conditions: Rents rising (+1.9%/yr); 591 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $8k 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 224 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Recommended offer $198,174 (29.2% 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 224 days. Have you received any prior offers? Is the seller open to a 29% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.72% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.66%
• DSCR: 0.61
• GRM: 11.6

CMA / ARV

• ARV (median comp): $396,627
• List price: $280,000
• Delta: -29.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -32.9%
• Equity multiple: -0.06×
• Total profit: $-83,346
• Equity at exit: $41,749

10-year hold

• IRR: -46.5%
• Equity multiple: -0.62×
• Total profit: $-126,810
• Equity at exit: $24,209

Cash invested: $78,400 (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 50266

• Home prices YoY: -17.5%
• Rents YoY: 1.9%
• Active inventory: 591
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$220
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-565

Break-even live

Break-even rent $2,728

Max offer price $198,174

Occupancy floor —

Sensitivity live

Price	-10% $-372	-5% $-469	+0% $-565	+5% $-662	+10% $-759
Rent	-10% $-724	-5% $-645	+0% $-565	+5% $-486	+10% $-407
Rate	-1.0pp $-424	-0.5pp $-494	base $-565	+0.5pp $-638	+1.0pp $-712

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 S 91st St West Des Moines, IA	3.0	3.5	1529	$2,200	$1.44	25d	1	0.08mi
1257 S 91st St West Des Moines, IA	3.0	3.5	1503	$2,200	$1.46	25d	1	0.18mi
8925 Cascade Ave West Des Moines, IA	1.0–3.0	1.0–2.0	1035	$1,595	$1.54	16d	11	0.36mi
455 S 85th St West Des Moines, IA	1.0–3.0	1.0–2.5	1215	$2,352	$1.94	16d	23	0.90mi
10101 Stark Dr West Des Moines, IA	3.0	2.5	1667	$2,095	$1.26	16d	1	0.92mi
9005 Bridgewood Blvd West Des Moines, IA	1.0–3.0	1.0–2.0	1044	$950	$0.91	23d	1	1.11mi
9128 Calvin Dr West Des Moines, IA	3.0	2.5	1799	$2,195	$1.22	45d	1	1.32mi
342 Harmony Ave West Des Moines, IA	3.0	2.5	1595	$2,195	$1.38	23d	1	1.34mi
8730 EP True Pkwy West Des Moines, IA	3.0	2.0	1225	$1,749	$1.43	16d	2	1.49mi
7425 Wistful Vista Dr #304 West Des Moines, IA	2.0	2.0	1268	$1,875	$1.48	16d	1	1.50mi
7425 Wistful Vista Dr #802 West Des Moines, IA	2.0	1.5	1276	$1,475	$1.16	45d	1	1.50mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-11
   status Pending 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

2. 2026-05-05
   price $280,000 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

3. 2026-04-29
   price $285,000 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

4. 2026-03-24
   price $290,000 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

5. 2026-02-18
   price $294,850 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

6. 2026-01-30
   price $299,850 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

7. 2025-12-31
   price $309,500 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

8. 2025-09-29
   listed $314,900 Active 769-char remark

   Show marketing remark (769 chars)

   Welcome to this West Des Moines community of Mill Ridge! This neighborhood features many home plans that includes the popular Lacona two-story townhome. The main level is open with a fireplace in the living room and a kitchen with a pantry. and powder room for guests. Upper-level features three bedrooms, two bathrooms and laundry. 15-year water proofing foundation, LVP flooring, passive radon system and more! Enjoy the community amenities like the pool and pickle ball court with quick access to Jordan Creek mall shopping, great restaurants, entertainment, interstate, schools, walking and bike path trail heads, parks & more! Hubbell Homes' Preferred Lenders offer $1750 in closing costs. Not valid with any other offer and subject to change without notice.

ⓘ 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: $24,145
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − HOA: −$2,640
• − Depreciation: −$8,145
• Taxable loss: −$11,788
• Est. tax savings @ 24.0%: +$2,829
• After-tax cash flow: $-3,957/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 — West Des Moines

• Score: 87/100
• State rank: #11
• US rank: #336

Category grades

Amenities A+ Commute F Cost of living A+ Crime B+ Employment A Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Des Moines, IA
• County: Dallas County · 77,082 people
• City population: 71,011
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 37,523
• Household income: $87,025
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1561.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 6% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 5% Italian 3% Iranian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Asian/Pacific 3% Other Indo-European 2%

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: ▼ -43.24%
• Current HPI: 203.6979
• Rent YoY: ▲ 1.94%
• 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

-11.1% since first listed

8 events — show timeline

• 2026-05-11 Pending — DMMLS
• 2026-05-05 Price Changed $280,000 DMMLS
• 2026-04-29 Price Changed $285,000 DMMLS
• 2026-03-24 Price Changed $290,000 DMMLS
• 2026-02-18 Price Changed $294,850 DMMLS
• 2026-01-30 Price Changed $299,850 DMMLS
• 2025-12-31 Price Changed $309,500 DMMLS
• 2025-09-29 Listed $314,900 DMMLS