Reilly Plan · West Des Moines, IA 50266

$292,300

3 bd · 2.5 ba · 1,631 sqft · Townhouse · 684 Days on market

↓ 17% since listing

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Why this score? — see what drove the F 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
• Schools +7.1/10.0
• Livability +4.4/5.0
• Cash flow +3.4/30.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Reilly plan has three bedrooms, two and a half baths, and a two-car garage. This Brownstone-style home has a garage entry at the back and an inviting porch on the front entry. The open-concept living room, kitchen, and dining room are on the main level. The upper level has three bedrooms, including two baths and a laundry room. The lower level can be partially finished to add an additional family room and bath. All lower-level finish options are available.

Key facts

• 2 garage spots
• Listed 684 days

🏗️ New construction. The $292,300 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $418,628.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $292k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (30.7% below list).
• Recommended offer: $203k (30.7% below list) — sets the bar for 1% rule.

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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3k of loan paydown is wiped out by about $13k 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 684 days — a 12% lower offer ($257k) is reasonable based on typical stale-listing flexibility.

Recommended offer $202,622 (30.7% 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 684 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.48% ✗
• Cap rate: 2.59%
• Cash-on-cash: -13.23%
• DSCR: 0.41
• GRM: 17.2

CMA / ARV

• ARV (median comp): $418,628
• List price: $292,300
• Delta: -30.18%
• 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
1175 S 91st St	0.07mi	3/2.5	1,688 (+4%)	1mo	$288,000	$171	90
9108 Robinson Dr	0.18mi	3/2.5	1,591 (-2%)	2mo	$290,225	$182	86
9015 Jean Louise Dr	0.12mi	3/3.0	1,590 (-2%)	5mo	$395,000	$248	84
9024 Calpurnia Dr	0.00mi	3/3.0	1,588 (-3%)	11mo	$375,000	$236	84
1111 S 91st St	0.13mi	3/2.5	1,678 (+3%)	7mo	$285,750	$170	84
8932 Mockingbird Dr	0.07mi	3/3.0	1,588 (-3%)	9mo	$420,000	$264	83
9020 Mockingbird Dr	0.06mi	3/3.0	1,595 (-2%)	11mo	$397,500	$249	82
9042 Mockingbird Dr	0.06mi	3/3.0	1,595 (-2%)	11mo	$390,000	$245	82
1149 S Atticus St	0.14mi	3/3.0	1,588 (-3%)	13mo	$426,000	$268	77
9156 Jamison Dr	0.33mi	4/3.0 (+1)	1,674 (+3%)	1mo	$570,000	$341	72
1195 S 91st St	0.06mi	3/3.5	1,521 (-7%)	12mo	$295,900	$195	72
8915 Jamison Dr	0.35mi	3/3.0	1,486 (-9%)	5mo	$415,000	$279	63

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -42.2%
• Equity multiple: -0.30×
• Total profit: $-152,253
• Equity at exit: $62,419

10-year hold

• IRR: -79.3%
• Equity multiple: -1.11×
• Total profit: $-247,031
• Equity at exit: $36,195

Cash invested: $117,216 (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: 12.0×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$2,195
• Tax est. 1.5%: −$523 /mo · $6,279/yr
• Insurance: −$174
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-1,292

Break-even live

Break-even rent $3,662

Max offer price $231,626

Occupancy floor —

Sensitivity live

Price	-10% $-1,003	-5% $-1,148	+0% $-1,292	+5% $-1,437	+10% $-1,582
Rent	-10% $-1,452	-5% $-1,372	+0% $-1,292	+5% $-1,212	+10% $-1,132
Rate	-1.0pp $-1,082	-0.5pp $-1,186	base $-1,292	+0.5pp $-1,401	+1.0pp $-1,511

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: $104,657
• Closing costs: $12,559
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1257 S 91st St West Des Moines, IA	3.0	3.5	1503	$2,200	$1.46	25d	1	0.07mi
1139 S 91st St West Des Moines, IA	3.0	3.5	1529	$2,200	$1.44	25d	1	0.10mi
8925 Cascade Ave West Des Moines, IA	1.0–3.0	1.0–2.0	1035	$1,595	$1.54	16d	11	0.49mi
10101 Stark Dr West Des Moines, IA	3.0	2.5	1667	$2,095	$1.26	16d	1	0.95mi
455 S 85th St West Des Moines, IA	1.0–3.0	1.0–2.5	1215	$2,352	$1.94	16d	23	0.99mi
9005 Bridgewood Blvd West Des Moines, IA	1.0–3.0	1.0–2.0	1044	$950	$0.91	23d	1	1.24mi
6950 Stagecoach Dr West Des Moines, IA	2.0–3.0	2.5–3.5	1785	$2,585	$1.45	16d	20	1.45mi
9128 Calvin Dr West Des Moines, IA	3.0	2.5	1799	$2,195	$1.22	46d	1	1.46mi
342 Harmony Ave West Des Moines, IA	3.0	2.5	1595	$2,195	$1.38	23d	1	1.48mi

Listing history 20 events

1. 2026-06-21
   days on market $292,300 Active 684 DOM
2. 2026-06-18
   days on market $292,300 Active 681 DOM
3. 2026-06-17
   days on market $292,300 Active 680 DOM
4. 2026-06-16
   days on market $292,300 Active 679 DOM
5. 2026-06-15
   days on market $292,300 Active 678 DOM
6. 2026-06-14
   days on market $292,300 Active 676 DOM
7. 2026-06-13
   days on market $292,300 Active 675 DOM
8. 2026-06-10
   days on market $292,300 Active 673 DOM
9. 2026-06-09
   days on market $292,300 Active 672 DOM
10. 2026-06-08
    days on market $292,300 Active 671 DOM
11. 2026-06-07
    days on market $292,300 Active 670 DOM
12. 2026-06-05
    days on market $292,300 Active 667 DOM
13. 2026-06-03
    days on market $292,300 Active 666 DOM
14. 2026-06-02
    days on market $292,300 Active 665 DOM
15. 2026-06-01
    days on market $292,300 Active 664 DOM
16. 2026-05-31
    days on market $292,300 Active 663 DOM
17. 2026-05-31
    days on market $292,300 Active 662 DOM
18. 2026-04-04
    price $292,300 464-char remark

    Show marketing remark (464 chars)

    The Reilly plan has three bedrooms, two and a half baths, and a two-car garage. This Brownstone-style home has a garage entry at the back and an inviting porch on the front entry. The open-concept living room, kitchen, and dining room are on the main level. The upper level has three bedrooms, including two baths and a laundry room. The lower level can be partially finished to add an additional family room and bath. All lower-level finish options are available.

19. 2025-09-10
    price $323,800 464-char remark

    Show marketing remark (464 chars)

    The Reilly plan has three bedrooms, two and a half baths, and a two-car garage. This Brownstone-style home has a garage entry at the back and an inviting porch on the front entry. The open-concept living room, kitchen, and dining room are on the main level. The upper level has three bedrooms, including two baths and a laundry room. The lower level can be partially finished to add an additional family room and bath. All lower-level finish options are available.

20. 2024-08-06
    listed $353,000 Active 464-char remark

    Show marketing remark (464 chars)

    The Reilly plan has three bedrooms, two and a half baths, and a two-car garage. This Brownstone-style home has a garage entry at the back and an inviting porch on the front entry. The open-concept living room, kitchen, and dining room are on the main level. The upper level has three bedrooms, including two baths and a laundry room. The lower level can be partially finished to add an additional family room and bath. All lower-level finish options are available.

ⓘ 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 · 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: $24,315
• − Mortgage interest: −$23,450
• − Property taxes: −$6,279
• − Insurance: −$2,093
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$12,178
• Taxable loss: −$23,576
• Est. tax savings @ 24.0%: +$5,658
• After-tax cash flow: $-9,850/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

-17.2% since first listed

3 events — show timeline

• 2026-04-04 Price Changed $292,300 Zillow
• 2025-09-10 Price Changed $323,800 Zillow
• 2024-08-06 Listed $353,000 Zillow