Ryman Plan · Johnston, IA 50131

$340,000

5 bd · 3.0 ba · 2,609 sqft · SingleFamily · 953 Days on market

Excellent condition $12/mo HOA

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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 +6.9/10.0
• Cash flow +6.0/30.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• 1% rule +1.4/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Destiny Homes presents the Ryman plan within its attractive Launch series. The Ryman features 5 bedrooms, 3 baths, a large 2nd floor loft area and 2,609 total square feet of gorgeous living space. The open concept main level features large picture windows, kitchen with quartz counters, center island & pantry PLUS a 5th bedroom AND an office/den/flex room. The second level includes the spacious primary suite with a walk-in closet, 3 additional bedrooms, a large loft area and 2nd floor laundry. Unfinished lower level has plenty of options for future finish and storage. All Launch series homes are Energy Star rated & have a 2 year builder warranty. Striking the perfect balance between quality and efficiency, your path to homeownership starts right now! Ask about $2,000 in closing costs provided by a preferred lender!

Key facts

• 2 parking spots
• Listed 953 days

🏗️ New construction. The $340,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $444,931.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $340k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-844 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $323k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (16.5% below list).
• Recommended offer: $284k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 2.4% in Johnston — 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 81/100 on livability (#59 in IA, #1,344 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Johnston Community School District (suburban): math 78% / reading 78% proficiency, ranked #24 of 289 in IA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.5%/yr); 376 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent runs 32% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 953 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.

Recommended offer $283,940 (16.5% 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 953 days. Have you received any prior offers? Is the seller open to a 16% 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: 0.64% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.13%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (median comp): $444,931
• List price: $340,000
• Delta: -23.58%
• 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
6732 Bright St	0.13mi	5/4.0	2,628 (+1%)	1mo	$499,800	$190	87
6825 NW 98th St	0.28mi	5/3.5	2,559 (-2%)	0mo	$559,000	$218	82
10030 NW 68th Ave	0.20mi	5/3.5	2,628 (+1%)	18mo	$618,000	$235	72
10240 Powell Ave	0.13mi	4/2.5 (-1)	2,431 (-7%)	6mo	$394,700	$162	71
10014 NW 68th Ave	0.20mi	6/4.0 (+1)	2,408 (-8%)	8mo	$634,670	$264	62
6812 NW 106th St	0.34mi	4/3.0 (-1)	2,429 (-7%)	9mo	$420,000	$173	60
6708 NW 99th St	0.27mi	5/3.5	2,392 (-8%)	16mo	$543,000	$227	58
9424 Wickham Dr	0.49mi	4/4.5 (-1)	2,740 (+5%)	13mo	$750,000	$274	47
10682 NW 71st Ln	0.41mi	4/3.5 (-1)	2,744 (+5%)	22mo	$495,000	$180	47
9517 Enfield Dr	0.47mi	6/4.0 (+1)	2,799 (+7%)	12mo	$625,000	$223	47
7028 Northwood Dr	0.74mi	5/3.5	2,854 (+9%)	7mo	$653,000	$229	42
9505 Carmel Cir	0.67mi	5/3.5	2,346 (-10%)	10mo	$480,000	$205	42

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -32.3%
• Equity multiple: -0.04×
• Total profit: $-130,089
• Equity at exit: $66,341

10-year hold

• IRR: -47.2%
• Equity multiple: -0.60×
• Total profit: $-199,400
• Equity at exit: $38,470

Cash invested: $124,581 (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 50131

• Home prices YoY: -26.0%
• Rents YoY: 1.5%
• Active inventory: 376
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,839 medium
• Mortgage (P&I): −$2,333
• Tax est. 1.5%: −$556 /mo · $6,674/yr
• Insurance: −$185
• HOA: −$12
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $-844

Break-even live

Break-even rent $3,907

Max offer price $322,847

Occupancy floor —

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: $111,233
• Closing costs: $13,348
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10340 Powell Ave Johnston, IA	5.0	3.0	2620	$3,200	$1.22	14d	1	0.17mi
9817 Brightwater Dr Johnston, IA	6.0	5.0	2756	$3,500	$1.27	43d	1	1.20mi

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 17 events

1. 2026-06-18
   days on market $340,000 Active 953 DOM
2. 2026-06-17
   days on market $340,000 Active 952 DOM
3. 2026-06-16
   days on market $340,000 Active 951 DOM
4. 2026-06-15
   days on market $340,000 Active 950 DOM
5. 2026-06-14
   days on market $340,000 Active 948 DOM
6. 2026-06-13
   days on market $340,000 Active 947 DOM
7. 2026-06-10
   days on market $340,000 Active 945 DOM
8. 2026-06-09
   days on market $340,000 Active 944 DOM
9. 2026-06-08
   days on market $340,000 Active 943 DOM
10. 2026-06-07
    days on market $340,000 Active 942 DOM
11. 2026-06-05
    days on market $340,000 Active 939 DOM
12. 2026-06-03
    days on market $340,000 Active 938 DOM
13. 2026-06-02
    days on market $340,000 Active 937 DOM
14. 2026-06-01
    days on market $340,000 Active 936 DOM
15. 2026-05-31
    days on market $340,000 Active 935 DOM
16. 2026-05-31
    days on market $340,000 Active 934 DOM
17. 2023-11-08
    listed $340,000 Active 837-char remark

    Show marketing remark (837 chars)

    Destiny Homes presents the Ryman plan within its attractive Launch series. The Ryman features 5 bedrooms, 3 baths, a large 2nd floor loft area and 2,609 total square feet of gorgeous living space. The open concept main level features large picture windows, kitchen with quartz counters, center island & pantry PLUS a 5th bedroom AND an office/den/flex room. The second level includes the spacious primary suite with a walk-in closet, 3 additional bedrooms, a large loft area and 2nd floor laundry. Unfinished lower level has plenty of options for future finish and storage. All Launch series homes are Energy Star rated & have a 2 year builder warranty. Striking the perfect balance between quality and efficiency, your path to homeownership starts right now! Ask about $2,000 in closing costs provided by a preferred lender!

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 14 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: $34,073
• − Mortgage interest: −$24,923
• − Property taxes: −$6,674
• − Insurance: −$2,225
• − Repairs & maintenance: −$2,726
• − Management: −$2,726
• − HOA: −$144
• − Depreciation: −$12,943
• Taxable loss: −$18,288
• Est. tax savings @ 24.0%: +$4,389
• After-tax cash flow: $-5,735/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This Ryman plan home in Johnston, IA is in excellent condition with no visible repairs needed. It offers a great layout and potential for value-adding improvements to enhance its resale and rental appeal.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value.
• Resale Kitchen appliances — Upgrading to high-end appliances can attract more buyers.
• Resale Bathroom fixtures — Modern fixtures can enhance the appeal of the bathrooms and attract more buyers.
• Both HVAC system upgrade — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value.
• Both Smart home integration — Adding smart home features can increase the home's appeal and marketability, benefiting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value. ↑
• Resale Kitchen appliances — Upgrading to high-end appliances can attract more buyers. ↑
• Resale Bathroom fixtures — Modern fixtures can enhance the appeal of the bathrooms and attract more buyers. ↑
• Both HVAC system upgrade — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both Smart home integration — Adding smart home features can increase the home's appeal and marketability, benefiting both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Johnston Community School District
• NCES district ID: 1915450
• Math proficiency: 78% ▼ -6.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $85,758
• Composite: 69.43/100
• National rank: #309
• State rank: #24 of 289 in IA

Livability — Johnston

• Score: 81/100
• State rank: #59
• US rank: #1344

Category grades

Amenities F Commute F Cost of living B 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: Johnston, IA
• County: Polk County · 453,298 people
• City population: 24,583
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 24,583
• Household income: $106,551
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 685.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Asian 7% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 4% American 3% Swiss 2%
• Foreign-born: 9% · China, Canada
• Languages at home: 88% English-only · Russian/Polish/Slavic 2% Chinese 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: ▼ -71.38%
• Current HPI: 203.3508
• Rent YoY: ▲ 1.47%
• 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

1 event — show timeline

• 2023-11-08 Listed $340,000 Zillow