Pearson Plan · Urbandale, IA 50111

$219,990

3 bd · 2.5 ba · 1,418 sqft · Townhouse · 390 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).

• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Cash flow +5.4/30.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• 1% rule +1.0/10.0
• 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 $219,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $328,839.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-718 ($-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 $197k (10.5% below list).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.7% 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: schools A+, crime A+, amenities 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.
• Market conditions: Rents flat; 327 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

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 390 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Recommended offer $193,591 (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 390 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: 0.60% ✗
• Cap rate: 3.67%
• Cash-on-cash: -9.35%
• DSCR: 0.58
• GRM: 13.9

CMA / ARV

• ARV (median comp): $328,839
• List price: $219,990
• Delta: -33.10%
• 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
15368 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	1mo	$227,590	$161	78
15348 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	2mo	$230,000	$162	78
15340 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	2mo	$232,990	$164	78
15346 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	2mo	$222,990	$157	77
15369 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	0mo	$226,990	$160	77
15363 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	2mo	$214,990	$152	76
15365 Coyote Dr	0.48mi	3/2.5	1,418 (0%)	4mo	$214,990	$152	74
15366 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	8mo	$229,990	$162	72
15362 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	8mo	$232,990	$164	72
15364 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	8mo	$229,990	$162	72
15360 Coyote Dr	0.45mi	3/2.5	1,418 (0%)	8mo	$244,990	$173	72
5722 155th Pl	0.46mi	3/2.5	1,418 (0%)	10mo	$229,990	$162	70

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: -35.5%
• Equity multiple: -0.12×
• Total profit: $-103,397
• Equity at exit: $49,031

10-year hold

• IRR: -64.8%
• Equity multiple: -0.80×
• Total profit: $-166,147
• Equity at exit: $28,432

Cash invested: $92,075 (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 50111

• Home prices YoY: -11.1%
• Rents YoY: 0.7%
• Active inventory: 327
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,968 high
• Mortgage (P&I): −$1,724
• Tax est. 1.5%: −$411 /mo · $4,933/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-718

Break-even live

Break-even rent $2,877

Max offer price $224,996

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: $82,210
• Closing costs: $9,865
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	14d	8	0.02mi
15133 Foxglove Ln Urbandale, IA	3.0	2.5	1529	$2,350	$1.54	14d	1	0.20mi
15118 Deerview Dr Urbandale, IA	3.0	2.5	1600	$2,195	$1.37	43d	1	0.26mi
5506 144th St Urbandale, IA	3.0	2.5	1575	$1,875	$1.19	43d	1	0.61mi
14420 Springbrook Trl Grimes, IA	3.0	2.5	1575	$1,950	$1.24	14d	1	0.75mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	43d	1	1.08mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	19d	1	1.12mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	43d	1	1.15mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	43d	1	1.16mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	14d	1	1.18mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	23d	1	1.18mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	43d	1	1.19mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	14d	1	1.21mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	21d	1	1.21mi
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	14d	1	1.31mi
4454 142nd St Urbandale, IA	1.0–3.0	1.0–2.0	949	$1,384	$1.46	14d	6	1.41mi

Listing history 19 events

1. 2026-06-18
   days on market $219,990 Active 390 DOM
2. 2026-06-17
   days on market $219,990 Active 389 DOM
3. 2026-06-16
   days on market $219,990 Active 388 DOM
4. 2026-06-15
   days on market $219,990 Active 387 DOM
5. 2026-06-14
   days on market $219,990 Active 385 DOM
6. 2026-06-13
   days on market $219,990 Active 384 DOM
7. 2026-06-10
   days on market $219,990 Active 382 DOM
8. 2026-06-09
   days on market $219,990 Active 381 DOM
9. 2026-06-08
   days on market $219,990 Active 380 DOM
10. 2026-06-07
    days on market $219,990 Active 379 DOM
11. 2026-06-05
    days on market $219,990 Active 376 DOM
12. 2026-06-03
    days on market $219,990 Active 375 DOM
13. 2026-06-02
    days on market $219,990 Active 374 DOM
14. 2026-06-01
    days on market $219,990 Active 373 DOM
15. 2026-05-31
    days on market $219,990 Active 372 DOM
16. 2026-05-31
    days on market $219,990 Active 371 DOM
17. 2026-03-05
    price $219,990 1035-char remark

    Show marketing remark (1035 chars)

    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!

18. 2025-11-06
    price $222,990 1035-char remark

    Show marketing remark (1035 chars)

    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!

19. 2025-05-24
    listed $227,990 Active 1035-char remark

    Show marketing remark (1035 chars)

    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!

ⓘ 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: $23,619
• − Mortgage interest: −$18,420
• − Property taxes: −$4,933
• − Insurance: −$1,644
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$9,566
• Taxable loss: −$14,723
• Est. tax savings @ 24.0%: +$3,534
• After-tax cash flow: $-5,078/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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ 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: 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): 16,865
• Household income: $120,769
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 249.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 3% Italian 3% Iranian 2%
• Foreign-born: 6% · China, Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -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

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