Pearson Plan · Urbandale, IA 50111

$209,990

3 bd · 2.5 ba · 1,418 sqft · Townhouse · 533 Days on market

Good condition ↓ 4% 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).

• Schools +8.6/10.0
• ARV discount +7.5/15.0
• Cash flow +5.2/30.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Pearson at Magnolia Heights Townhomes in Urbandale, IA. This two-story townhome offers 3 bedrooms, 2.5 bathrooms, and 1,418 sq. ft. of thoughtfully designed living space, complete with all appliances included. Step into a bright entryway that opens to an airy main level, perfect for daily living and entertaining. The kitchen is the heart of the home, featuring crisp white cabinetry, stainless steel appliances, and a spacious L-shaped island ideal for casual meals and gatherings. The dining area flows seamlessly into the great room, where an electric fireplace adds warmth and charm. A conveniently located half bathroom and direct access to the 1-car garage complete the main floor. Upstairs, the primary bedroom offers a generous walk-in closet and a private en-suite with dual vanities and a walk-in shower. Two additional bedrooms, a second full bathroom, and a centrally located laundry room provide comfort and convenience for everyone. Discover your new home at Magnolia Heights Townhomes in Urbandale today!

Key facts

• Quartz countertops
• Open concept living
• Large kitchen

Tags

• OPEN CONCEPT LIVING
• LARGE KITCHEN
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• BUILT-IN ELECTRIC FIREPLACE
• OUTDOOR COVERED PATIO

🏗️ New construction. The $209,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $329,450.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-746 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (7.7% below list).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.6% vs local median 2.5% 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: Rents flat; 576 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 33d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $10k 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 533 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,791 (12.0% 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 533 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.59% ✗
• Cap rate: 3.58%
• Cash-on-cash: -9.70%
• DSCR: 0.57
• GRM: 14.2

CMA / ARV

• ARV (median comp): $329,450
• List price: $209,990
• Delta: -36.26%
• 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
15345 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	0mo	$199,990	$141	77
15324 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	2mo	$201,990	$142	77
15344 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	3mo	$209,990	$148	76
15343 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	3mo	$198,990	$140	76
15342 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	5mo	$218,990	$154	75
15368 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	5mo	$227,590	$161	74
15367 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	4mo	$209,990	$148	74
15347 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	4mo	$212,490	$150	74
15340 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	6mo	$232,990	$164	74
15348 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	6mo	$230,000	$162	74
15346 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	6mo	$222,990	$157	74
15369 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	5mo	$226,990	$160	74

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -36.2%
• Equity multiple: -0.14×
• Total profit: $-105,215
• Equity at exit: $49,122

10-year hold

• IRR: -67.2%
• Equity multiple: -0.84×
• Total profit: $-169,767
• Equity at exit: $28,485

Cash invested: $92,246 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 22 under contract
• Months of supply: 7.1 mo (14%/mo absorbed)
• Median asking: $264,990 ($164/sqft)
• Median days on market: 72 d
• This list price: 16% of active listings are priced below it
• ARV vs active asking: +41.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50111

• Home prices YoY: -11.1%
• Rents YoY: 0.7%
• Active inventory: 576
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$1,728
• Tax est. 1.5%: −$412 /mo · $4,942/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-746

Break-even live

Break-even rent $2,882

Max offer price $221,548

Occupancy floor —

Sensitivity live

Price	-10% $-518	-5% $-632	+0% $-746	+5% $-860	+10% $-973
Rent	-10% $-899	-5% $-822	+0% $-746	+5% $-669	+10% $-593
Rate	-1.0pp $-580	-0.5pp $-662	base $-746	+0.5pp $-831	+1.0pp $-918

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: $82,362
• Closing costs: $9,884
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15231 Deerview Dr Urbandale, IA	3.0	2.5	1512	$2,300	$1.52	107d	1	0.16mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,850	$1.16	0d	8	0.17mi
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,195	$1.44	107d	1	0.20mi
15120 Goldenrod Dr Urbandale, IA	3.0	2.5	1022	$2,250	$2.20	107d	1	0.22mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	184d	1	0.61mi
14433 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,900	$1.21	0d	1	0.73mi
14433 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,900	$1.21	26d	1	0.73mi
14424 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,850	$1.17	0d	1	0.74mi
14422 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,850	$1.17	37d	1	0.75mi
14420 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,950	$1.24	43d	1	0.75mi
14420 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,950	$1.24	0d	1	0.75mi
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	155d	1	0.75mi
14405 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,900	$1.21	0d	1	0.76mi
14405 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,950	$1.24	32d	1	0.76mi
14405 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,900	$1.21	26d	1	0.76mi
5532 144th St Urbandale, IA	3.0	2.5	1511	$2,095	$1.39	107d	1	0.77mi
14304 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,800	$1.14	0d	1	0.80mi
14216 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,950	$1.24	0d	1	0.83mi
14214 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,850	$1.17	11d	1	0.83mi
14214 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,850	$1.17	24d	1	0.83mi
14214 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,800	$1.14	0d	1	0.83mi
14210 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$1,900	$1.21	0d	1	0.84mi
14210 Springbrook Trl Urbandale, IA	3.0	2.5	1575	$2,050	$1.30	11d	1	0.84mi
15229 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,475	$1.40	10d	1	1.07mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,400	$1.33	107d	1	1.08mi
16639 Mill Pond Dr Urbandale, IA	3.0	2.5	1580	$2,295	$1.45	2d	1	1.11mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	160d	1	1.12mi
16509 Oakwood Dr Urbandale, IA	3.0	2.5	1529	$2,295	$1.50	0d	1	1.12mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	184d	1	1.15mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	184d	1	1.16mi
15305 Townsend Ave Urbandale, IA	2.0	2.5	1240	$1,535	$1.24	10d	1	1.18mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	155d	1	1.18mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	164d	1	1.18mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	184d	1	1.19mi
4308 153rd Pl Urbandale, IA	3.0	2.5	1444	$1,775	$1.23	2d	1	1.20mi
16620 Oakwood Dr Urbandale, IA	3.0	3.5	1529	$2,400	$1.57	51d	1	1.20mi
4319 153rd St Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	43d	1	1.21mi
4306 152nd Pl Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	1d	1	1.21mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	155d	1	1.21mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	162d	1	1.21mi

Listing history 50 events

1. 2026-11-08
   days on market $209,990 Active 533 DOM
2. 2026-11-07
   days on market $209,990 Active 532 DOM
3. 2026-11-06
   days on market $209,990 Active 531 DOM
4. 2026-11-05
   days on market $209,990 Active 530 DOM
5. 2026-11-04
   days on market $209,990 Active 529 DOM
6. 2026-11-02
   days on market $209,990 Active 527 DOM
7. 2026-11-01
   days on market $209,990 Active 526 DOM
8. 2026-10-31
   days on market $209,990 Active 525 DOM
9. 2026-10-30
   days on market $209,990 Active 524 DOM
10. 2026-10-29
    days on market $209,990 Active 523 DOM
11. 2026-10-28
    days on market $209,990 Active 522 DOM
12. 2026-10-27
    days on market $209,990 Active 521 DOM
13. 2026-10-26
    days on market $209,990 Active 520 DOM
14. 2026-10-26
    days on market $209,990 Active 519 DOM
15. 2026-10-24
    days on market $209,990 Active 518 DOM
16. 2026-10-23
    days on market $209,990 Active 517 DOM
17. 2026-10-22
    days on market $209,990 Active 516 DOM
18. 2026-10-21
    days on market $209,990 Active 515 DOM
19. 2026-10-20
    days on market $209,990 Active 514 DOM
20. 2026-10-19
    days on market $209,990 Active 513 DOM
21. 2026-10-18
    days on market $209,990 Active 512 DOM
22. 2026-10-17
    days on market $209,990 Active 511 DOM
23. 2026-10-16
    days on market $209,990 Active 510 DOM
24. 2026-10-15
    days on market $209,990 Active 509 DOM
25. 2026-10-14
    days on market $209,990 Active 508 DOM
26. 2026-10-13
    days on market $209,990 Active 507 DOM
27. 2026-10-12
    days on market $209,990 Active 506 DOM
28. 2026-10-11
    days on market $209,990 Active 505 DOM
29. 2026-10-10
    days on market $209,990 Active 504 DOM
30. 2026-10-09
    days on market $209,990 Active 503 DOM
31. 2026-10-08
    days on market $209,990 Active 502 DOM
32. 2026-10-07
    days on market $209,990 Active 501 DOM
33. 2026-10-06
    days on market $209,990 Active 500 DOM
34. 2026-10-05
    days on market $209,990 Active 499 DOM
35. 2026-10-04
    days on market $209,990 Active 498 DOM
36. 2026-10-04
    days on market $209,990 Active 497 DOM
37. 2026-10-02
    days on market $209,990 Active 496 DOM
38. 2026-10-01
    days on market $209,990 Active 495 DOM
39. 2026-09-30
    days on market $209,990 Active 494 DOM
40. 2026-09-29
    days on market $209,990 Active 493 DOM
41. 2026-09-28
    days on market $209,990 Active 492 DOM
42. 2026-09-27
    days on market $209,990 Active 491 DOM
43. 2026-09-25
    days on market $209,990 Active 489 DOM
44. 2026-09-24
    days on market $209,990 Active 488 DOM
45. 2026-09-23
    days on market $209,990 Active 487 DOM
46. 2026-09-22
    days on market $209,990 Active 486 DOM
47. 2026-09-21
    days on market $209,990 Active 485 DOM
48. 2026-09-20
    days on market $209,990 Active 484 DOM
49. 2026-09-19
    days on market $209,990 Active 483 DOM
50. 2026-09-18
    days on market $209,990 Active 482 DOM

ⓘ 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: $23,257
• − Mortgage interest: −$18,454
• − Property taxes: −$4,942
• − Insurance: −$1,647
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$9,584
• Taxable loss: −$15,092
• Est. tax savings @ 24.0%: +$3,622
• After-tax cash flow: $-5,326/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 · 12 photos

Good 80/100 None rehab

This well-maintained townhome in Urbandale, IA, offers a good condition with no immediate repairs needed. It has a good resale and rental value with potential for minor updates to enhance curb appeal and value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Replace window treatments — Enhances curb appeal and value ↑

A Composite school gradezoned avg 86/100

Zoned Schools

Elementary Walnut Hills Elementary School A+ IA #26/616 Nat'l #458/41,679 High Northwest High School

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

A Composite livability gradescore 90/100

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 · 111,904 people
• City population: 49,196
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 16,865
• Household income: $120,769
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Languages at home: 92% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 1%

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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: ▼ -30.93%
• Current HPI: 249.0614
• Rent YoY: ▲ 0.71%
• Metro: Des Moines-West Des Moines, IA
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-3.5% since first listed

3 events — show timeline

• 2026-03-05 Price Changed $219,990 Zillow
• 2025-11-06 Price Changed $222,990 Zillow
• 2025-05-24 Listed $227,990 Zillow