4784 172nd St · Urbandale, IA 50323

$308,990

3 bd · 3.0 ba · 1,410 sqft · Other · 122 Days on market

Built 2025 9,726 sqft lot $21/mo HOA · 1% of rent

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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 +7.5/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Cash flow +6.3/30.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0

Listing remarks

Welcome to the Olsen in Mallard Prairie Twinhomes - a ranch-style duplex offering 3 bedrooms, 3 bathrooms, and 2,199 sq. ft. of finished living space. Step into a bright foyer that leads past a spacious secondary bedroom, full bathroom, and laundry room. The main level opens to a beautifully designed kitchen with white cabinetry, stainless steel appliances, a walk-in pantry, and a large island that flows into the dining area and great room with a cozy electric fireplace. Tucked at the back, the primary suite includes a walk-in closet and a private bathroom with dual vanities and a walk-in shower. The finished basement adds a spacious rec room, third bedroom, and third full bath. Visit today

Key facts

• Quartz countertops
• Open floorplan
• Finished basement

Tags

• FINISHED BASEMENT
• OPEN FLOORPLAN
• SOLID SURFACE FLOORING
• CONVENIENT PANTRY
• LARGE ISLAND
• QUARTZ COUNTERTOPS

Property features AI

Finance

• HOA & community: Homeowners association: Mallard Prairie (managed by Edge Property Management); HOA fee $250 annually

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; New construction; Below-grade finished area included (basement)
• Construction: Vinyl siding; Asphalt shingle roof; Poured foundation; Built by DR Horton; Home warranty included
• Exterior features: Concrete road access; Lot in residential zoning (R)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two main-level bedrooms
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dining area; Eat-in kitchen; Finished basement with egress windows; Electric fireplace (1)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $309k.

Deal economics

• At list price, monthly cash flow is $-543 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (25.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (33.9% below list).
• Recommended offer: $204k (33.9% below list) — sets the bar for 1% rule.
• Cap rate 4.2% 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: 381 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent is only 14% of the median local income ($176k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,248 (33.9% 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 122 days. Have you received any prior offers? Is the seller open to a 34% 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: 0.66% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.53%
• DSCR: 0.67
• GRM: 12.6

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: 6.0%
• Equity multiple: 1.38×
• Total profit: $33,303
• Equity at exit: $171,497

10-year hold

• IRR: 8.4%
• Equity multiple: 2.53×
• Total profit: $132,344
• Equity at exit: $293,043

Cash invested: $86,517 (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: 381
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,620
• Tax est. 1.5%: −$386 /mo · $4,635/yr
• Insurance: −$129
• HOA: −$21
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-543

Break-even live

Break-even rent $2,730

Max offer price $230,446

Occupancy floor —

Sensitivity live

Price	-10% $-329	-5% $-436	+0% $-543	+5% $-650	+10% $-756
Rent	-10% $-704	-5% $-623	+0% $-543	+5% $-462	+10% $-381
Rate	-1.0pp $-387	-0.5pp $-464	base $-543	+0.5pp $-623	+1.0pp $-704

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: $77,248
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	16d	1	0.15mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	16d	1	0.49mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	45d	1	0.51mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	45d	1	0.61mi
4401 N Warrior Ln Clive, IA	2.0	2.0	2022	$2,875	$1.42	21d	1	0.99mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	45d	1	1.37mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	25d	1	1.39mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	16d	8	1.41mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	45d	1	1.44mi
835 NE Redwood Blvd Waukee, IA	2.0	2.0	1457	$2,235	$1.53	16d	3	1.46mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	23d	1	1.47mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	21d	1	1.48mi

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: electric

Listing history 5 events

1. 2026-05-23
   price $308,990
2. 2026-04-20
   status Pending
3. 2026-01-22
   price $318,990
4. 2025-12-19
   listed $324,990 Active
5. 2023-03-17
   soldstatus $980,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 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: $24,510
• − Mortgage interest: −$17,308
• − Property taxes: −$4,635
• − Insurance: −$1,545
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − HOA: −$252
• − Depreciation: −$8,989
• Taxable loss: −$12,141
• Est. tax savings @ 24.0%: +$2,914
• After-tax cash flow: $-3,600/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): 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

-68.5% since first listed

5 events — show timeline

• 2026-05-23 Price Changed $308,990 DMMLS
• 2026-04-20 Pending — DMMLS
• 2026-01-22 Price Changed $318,990 DMMLS
• 2025-12-19 Listed $324,990 DMMLS
• 2023-03-17 Sold (Public Records) $980,000 Public Records

Property tax history

-9.1%/yr

Latest (2025): $6 · +0.0% YoY. Source: county tax records.