626 Elizabeth Ln NW · Bondurant, IA 50035

$280,000

3 bd · 2.5 ba · 1,896 sqft · SingleFamily public records · 257 Days on market

Built 2019 4,593 sqft lot $148/sqft · 14% below area Est $325k · 14% under $8/mo HOA

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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 +13.7/15.0
• Cash flow +7.8/30.0
• Schools +6.2/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

Key facts

• 4,593 sq ft lot
• 2 garage spots
• Built 2019

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (23.3% below list).
• Recommended offer: $215k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.0% in Bondurant — 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 76/100 on livability (#205 in IA, #3,724 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Bondurant-Farrar Community School District (rural): math 68% / reading 75% proficiency, ranked #89 of 289 in IA (top 31%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Morris Elementary (621 students, 14% FRL); Bondurant - Farrar Intermediate School (math 67% / reading 79%, grade A, #87 of 246 statewide, top 36%, 380 students, 19% FRL); Bondurant-Farrar High School (math 72% / reading 80%, grade A-, #75 of 336 statewide, top 23%, 761 students, 21% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: 253 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,953 units permitted in Polk County in 2024 (540 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.
• 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 257 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.
• Current owner paid $226k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $214,660 (23.3% 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 257 days. Have you received any prior offers? Is the seller open to a 23% 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: 0.77% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.73%
• DSCR: 0.79
• GRM: 10.9

CMA / ARV

• ARV (median comp): $324,685
• List price: $280,000
• Delta: -13.76%
• 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
505 Colbie Blossom Ln NW	0.24mi	3/2.5	1,829 (-4%)	2mo	$422,930	$231	81
800 Fireside Dr NW	0.28mi	4/2.5 (+1)	2,053 (+8%)	2mo	$329,990	$161	66
801 Fireside Dr NW	0.31mi	4/2.5 (+1)	2,053 (+8%)	4mo	$314,990	$153	64
313 Aspen Dr NW	0.64mi	4/2.5 (+1)	1,901 (+0%)	3mo	$349,200	$184	62
1105 Westridge St SW	0.41mi	4/2.5 (+1)	2,053 (+8%)	3mo	$378,990	$185	60
600 Sycamore Dr NW	0.61mi	3/2.5	1,730 (-9%)	1mo	$316,000	$183	56
341 Aspen Dr NW	0.59mi	4/2.5 (+1)	1,778 (-6%)	1mo	$375,000	$211	56
511 Mallard Pointe Dr NW	0.38mi	4/3.0 (+1)	1,654 (-13%)	1mo	$360,000	$218	53
532 Shiloh Rose Pkwy NW	0.34mi	4/3.5 (+1)	1,638 (-14%)	1mo	$445,000	$272	52
817 Mulberry Dr NW	0.63mi	4/3.0 (+1)	1,754 (-8%)	0mo	$440,000	$251	51
617 Mallard Pointe Dr NW	0.39mi	4/3.5 (+1)	1,658 (-13%)	2mo	$450,000	$271	50
1017 Meadowland Ct NW	0.69mi	4/3.0 (+1)	2,037 (+7%)	3mo	$643,435	$316	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-64,990
• Equity at exit: $41,749

10-year hold

• IRR: -19.6%
• Equity multiple: -0.04×
• Total profit: $-81,644
• 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 50035

• Home prices YoY: -19.9%
• Active inventory: 253
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,147 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$412 /mo · $4,944/yr
• Insurance: −$117
• HOA: −$8
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $-309

Break-even live

Break-even rent $2,538

Max offer price $225,378

Occupancy floor —

Sensitivity live

Price	-10% $-151	-5% $-230	+0% $-309	+5% $-388	+10% $-468
Rent	-10% $-479	-5% $-394	+0% $-309	+5% $-224	+10% $-140
Rate	-1.0pp $-168	-0.5pp $-238	base $-309	+0.5pp $-382	+1.0pp $-456

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Buffalo Ave SW Bondurant, IA	3.0	2.5	1404	$1,995	$1.42	15d	1	0.33mi
1024 Cove St SE Bondurant, IA	4.0	2.5	1850	$2,395	$1.29	25d	1	1.42mi
1101 Cove St SE Bondurant, IA	4.0	2.5	1907	$2,395	$1.26	23d	1	1.47mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 26 events

1. 2026-06-17
   days on market $280,000 Active 257 DOM
2. 2026-06-16
   days on market $280,000 Active 256 DOM
3. 2026-06-15
   days on market $280,000 Active 255 DOM
4. 2026-06-14
   days on market $280,000 Active 253 DOM
5. 2026-06-13
   days on market $280,000 Active 252 DOM
6. 2026-06-10
   days on market $280,000 Active 250 DOM
7. 2026-06-09
   days on market $280,000 Active 249 DOM
8. 2026-06-08
   days on market $280,000 Active 248 DOM
9. 2026-06-07
   days on market $280,000 Active 247 DOM
10. 2026-06-05
    days on market $280,000 Active 244 DOM
11. 2026-06-03
    days on market $280,000 Active 243 DOM
12. 2026-06-02
    days on market $280,000 Active 242 DOM
13. 2026-06-01
    days on market $280,000 Active 241 DOM
14. 2026-05-31
    days on market $280,000 Active 240 DOM
15. 2026-05-31
    days on market $280,000 Active 239 DOM
16. 2026-05-11
    status Active 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

17. 2026-03-12
    price $280,000 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

18. 2026-01-29
    price $283,000 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

19. 2025-11-18
    price $285,000 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

20. 2025-10-17
    price $287,500 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

21. 2025-09-22
    listed $290,000 Active 863-char remark

    Show marketing remark (863 chars)

    Built in 2020, this charming 2-story home offers the perfect blend of modern design and everyday comfort. Featuring 3 spacious bedrooms and 2.5 bathrooms, there’s room for everyone to spread out and enjoy. The open layout flows seamlessly from the main living area to the kitchen, making it ideal for both daily living and entertaining. Upstairs, you’ll find generously sized bedrooms—including a relaxing primary suite with its own private bath and walk-in closet. On top of all this, the home comes equipped with solar panels, offering energy efficiency and potential savings on utility bills. With its newer build, this home provides peace of mind while also being a fantastic value for its size, age, and features. Located in the welcoming community of Bondurant, you’ll enjoy small-town charm with easy access to the Des Moines metro.

22. 2020-06-01
    soldstatus $226,500
23. 2020-05-29
    soldstatus $226,410 Closed 952-char remark

    Show marketing remark (952 chars)

    D. R. Horton, America’s Builder, presents the Sierra plan. This two-story home features 3 bedrooms and 2.5 baths. The main level living area offers solid surface flooring throughout the for easy maintenance. Home features a turnback staircase situated away from foyer for convenience and privacy, as well as a loft area upstairs. The kitchen offers beautiful cabinetry, a large pantry and a built-in island with ample seating space. The secondary bedrooms have spacious walk in closets. The oversized owner’s suite features a deluxe bath with ample storage in the walk-in closet. All D. R. Horton Iowa homes include our America’s Smart HomeSM Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is an incredible value with all the benefits of new construction. Ask about our Main Street Stars Savings Program!

24. 2020-04-14
    status Pending 952-char remark

    Show marketing remark (952 chars)

    D. R. Horton, America’s Builder, presents the Sierra plan. This two-story home features 3 bedrooms and 2.5 baths. The main level living area offers solid surface flooring throughout the for easy maintenance. Home features a turnback staircase situated away from foyer for convenience and privacy, as well as a loft area upstairs. The kitchen offers beautiful cabinetry, a large pantry and a built-in island with ample seating space. The secondary bedrooms have spacious walk in closets. The oversized owner’s suite features a deluxe bath with ample storage in the walk-in closet. All D. R. Horton Iowa homes include our America’s Smart HomeSM Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is an incredible value with all the benefits of new construction. Ask about our Main Street Stars Savings Program!

25. 2020-02-13
    price $226,410 952-char remark

    Show marketing remark (952 chars)

    D. R. Horton, America’s Builder, presents the Sierra plan. This two-story home features 3 bedrooms and 2.5 baths. The main level living area offers solid surface flooring throughout the for easy maintenance. Home features a turnback staircase situated away from foyer for convenience and privacy, as well as a loft area upstairs. The kitchen offers beautiful cabinetry, a large pantry and a built-in island with ample seating space. The secondary bedrooms have spacious walk in closets. The oversized owner’s suite features a deluxe bath with ample storage in the walk-in closet. All D. R. Horton Iowa homes include our America’s Smart HomeSM Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is an incredible value with all the benefits of new construction. Ask about our Main Street Stars Savings Program!

26. 2020-02-04
    listed $224,490 Active 952-char remark

    Show marketing remark (952 chars)

    D. R. Horton, America’s Builder, presents the Sierra plan. This two-story home features 3 bedrooms and 2.5 baths. The main level living area offers solid surface flooring throughout the for easy maintenance. Home features a turnback staircase situated away from foyer for convenience and privacy, as well as a loft area upstairs. The kitchen offers beautiful cabinetry, a large pantry and a built-in island with ample seating space. The secondary bedrooms have spacious walk in closets. The oversized owner’s suite features a deluxe bath with ample storage in the walk-in closet. All D. R. Horton Iowa homes include our America’s Smart HomeSM Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is an incredible value with all the benefits of new construction. Ask about our Main Street Stars Savings Program!

ⓘ 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: $4,944 · $412/mo
• Projected year-2 tax: $4,944 · $412/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 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: $25,759
• − Mortgage interest: −$15,684
• − Property taxes: −$4,944
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,061
• − Management: −$2,061
• − HOA: −$96
• − Depreciation: −$8,145
• Taxable loss: −$8,632
• Est. tax savings @ 24.0%: +$2,072
• After-tax cash flow: $-1,639/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: Bondurant-Farrar Community School District
• NCES district ID: 1905070
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 75% ▲ 1.00%
• Median HH income: $67,433
• Composite: 62.25/100
• National rank: #701
• State rank: #89 of 289 in IA

Livability — Bondurant

• Score: 76/100
• State rank: #205
• US rank: #3724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bondurant, IA
• City population: 9,668
• Population (ZIP): 9,668

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 (90%)
• Race & ethnicity: White 90% Black 5% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Portuguese 7% Iranian 4% Swiss 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1%

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: ▼ -59.18%
• Current HPI: 237.4352
• Rent YoY: —
• Metro: —
• 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

+24.7% since first listed

11 events — show timeline

• 2026-05-11 Relisted — DMMLS
• 2026-03-12 Price Changed $280,000 DMMLS
• 2026-01-29 Price Changed $283,000 DMMLS
• 2025-11-18 Price Changed $285,000 DMMLS
• 2025-10-17 Price Changed $287,500 DMMLS
• 2025-09-22 Listed $290,000 DMMLS
• 2020-06-01 Sold (Public Records) $226,500 Public Records
• 2020-05-29 Sold (MLS) $226,410 DMMLS
• 2020-04-14 Pending — DMMLS
• 2020-02-13 Price Changed $226,410 DMMLS
• 2020-02-04 Listed $224,490 DMMLS

Property tax history

+315.3%/yr

Latest (2025): $4,944 · +2.3% YoY. Source: county tax records.