Bellhaven Plan · Urbandale, IA 50323

$374,990

4 bd · 2.5 ba · 2,053 sqft · SingleFamily · 115 Days on market

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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
• Livability +4.5/5.0
• Cash flow +4.3/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome home to the Bellhaven floor plan in the Mallard Prairie community in Urbandale, IA. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 3 car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design with 9-ft ceilings connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, subway tile backsplash, a walk-in pantry, and a large island -ideal for meal prep, serving, or casual dining. Upstairs, three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Mallard Prairie.

Key facts

• Large windows
• Bellhaven floor plan
• Open concept design

Tags

• BELLHAVEN FLOOR PLAN
• MALLARD PRAIRIE COMMUNITY
• VERSATILE STUDY FLEX SPACE
• OPEN CONCEPT DESIGN
• COZY ELECTRIC FIREPLACE
• LARGE WINDOWS

🏗️ New construction. The $374,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $416,029.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (40.6% below list).
• Recommended offer: $223k (40.6% below list) — sets the bar for 1% rule.
• Cap rate 3.1% vs local median 2.4% in Urbandale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).
• This rent is only 15% 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 $23k of equity ($3k loan paydown + $20k 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 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.

Recommended offer $222,896 (40.6% 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 115 days. Have you received any prior offers? Is the seller open to a 41% 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: 0.54% ✗
• Cap rate: 3.08%
• Cash-on-cash: -11.48%
• DSCR: 0.49
• GRM: 15.6

CMA / ARV

• ARV (median comp): $416,029
• List price: $374,990
• Delta: -9.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5114 168th St	0.51mi	4/3.0	2,053 (0%)	1mo	$358,990	$175	74
4647 178th St	0.47mi	4/2.5	2,208 (+8%)	2mo	$489,900	$222	64
4664 177th St	0.27mi	4/3.0	1,800 (-12%)	2mo	$534,990	$297	64
17987 Alpine Dr	0.64mi	3/2.5 (-1)	2,073 (+1%)	1mo	$379,900	$183	63
17418 North Valley Dr	0.39mi	4/4.0	1,896 (-8%)	2mo	$699,900	$369	62
4701 177th St	0.24mi	3/2.0 (-1)	1,800 (-12%)	1mo	$517,519	$288	60
4654 180th St	0.46mi	3/2.0 (-1)	1,912 (-7%)	0mo	$506,990	$265	60
4676 180th St	0.46mi	4/2.5	2,330 (+14%)	1mo	$486,958	$209	56
17151 Plum Dr	0.39mi	4/3.5	1,762 (-14%)	1mo	$479,500	$272	54
4705 180th St	0.42mi	3/2.0 (-1)	1,800 (-12%)	1mo	$464,990	$258	52
16412 N Valley Dr	0.75mi	5/3.0 (+1)	1,869 (-9%)	2mo	$649,900	$348	42
17519 North Valley Dr	0.69mi	5/4.0 (+1)	2,293 (+12%)	1mo	$1,005,000	$438	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.18×
• Total profit: $20,397
• Equity at exit: $230,906

10-year hold

• IRR: 5.8%
• Equity multiple: 2.08×
• Total profit: $125,362
• Equity at exit: $394,558

Cash invested: $116,488 (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: 14.0×

Monthly cashflow live

• Estimated rent: $2,229 high
• Mortgage (P&I): −$2,182
• Tax est. 1.5%: −$520 /mo · $6,240/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-1,114

Break-even live

Break-even rent $3,639

Max offer price $254,802

Occupancy floor —

Sensitivity live

Price	-10% $-827	-5% $-970	+0% $-1,114	+5% $-1,258	+10% $-1,402
Rent	-10% $-1,290	-5% $-1,202	+0% $-1,114	+5% $-1,026	+10% $-938
Rate	-1.0pp $-905	-0.5pp $-1,008	base $-1,114	+0.5pp $-1,222	+1.0pp $-1,332

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: $104,007
• Closing costs: $12,481
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.24mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	16d	1	0.55mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	45d	1	0.58mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	45d	1	0.67mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	45d	1	1.11mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	25d	1	1.45mi

Listing history 18 events

1. 2026-06-21
   days on market $374,990 Active 115 DOM
2. 2026-06-18
   days on market $374,990 Active 112 DOM
3. 2026-06-17
   days on market $374,990 Active 111 DOM
4. 2026-06-16
   days on market $374,990 Active 110 DOM
5. 2026-06-15
   days on market $374,990 Active 109 DOM
6. 2026-06-14
   days on market $374,990 Active 107 DOM
7. 2026-06-13
   days on market $374,990 Active 106 DOM
8. 2026-06-10
   days on market $374,990 Active 104 DOM
9. 2026-06-09
   days on market $374,990 Active 103 DOM
10. 2026-06-08
    days on market $374,990 Active 102 DOM
11. 2026-06-07
    days on market $374,990 Active 101 DOM
12. 2026-06-05
    days on market $374,990 Active 98 DOM
13. 2026-06-03
    days on market $374,990 Active 97 DOM
14. 2026-06-02
    days on market $374,990 Active 96 DOM
15. 2026-06-01
    days on market $374,990 Active 95 DOM
16. 2026-05-31
    days on market $374,990 Active 94 DOM
17. 2026-05-31
    days on market $374,990 Active 93 DOM
18. 2026-02-26
    listed $374,990 Active 1345-char remark

    Show marketing remark (1345 chars)

    Welcome home to the Bellhaven floor plan in the Mallard Prairie community in Urbandale, IA. This two-story home offers 4 bedrooms, 2.5 bathrooms, a 3 car garage, and 2,053 sq. ft. of thoughtfully designed living space. Step inside to a versatile study/flex space off the foyer, perfect for a home office or playroom. The hallway leads past a guest bathroom and staircase to both the upper and lower levels, then opens into the heart of the home. The open-concept design with 9-ft ceilings connects the living room, dining area, and kitchen for an airy, functional feel. The living room features a cozy electric fireplace and large windows that fill the space with natural light. The dining area provides access to the back patio or deck through sliding glass doors, creating seamless indoor-outdoor living. The kitchen combines style and function with white cabinetry, stainless-steel appliances, white quartz countertops, subway tile backsplash, a walk-in pantry, and a large island -ideal for meal prep, serving, or casual dining. Upstairs, three secondary bedrooms share a full bathroom, while the oversized primary suite offers great community views, two walk-in closets, and an en-suite bathroom with dual sinks and a private water closet. Contact us today to learn more about the Bellhaven floor plan or schedule a tour in Mallard Prairie.

ⓘ 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: $26,748
• − Mortgage interest: −$23,304
• − Property taxes: −$6,240
• − Insurance: −$2,080
• − Repairs & maintenance: −$2,140
• − Management: −$2,140
• − Depreciation: −$12,103
• Taxable loss: −$21,259
• Est. tax savings @ 24.0%: +$5,102
• After-tax cash flow: $-8,268/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

1 event — show timeline

• 2026-02-26 Listed $374,990 Zillow