2833 Orinoco Ct SW · Altoona, IA 50009

$205,000

2 bd · 2.5 ba · 1,148 sqft · Townhouse public records · 56 Days on market

Built 2006 1,569 sqft lot $179/sqft · 13% below area Est $234k · 13% under $184/mo HOA · 12% of rent

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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 +13.1/15.0
• Schools +6.4/10.0
• Cash flow +5.4/30.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of comfort and efficiency! This stunning two-story townhome features an airy, open floor plan highlighted by soaring vaulted ceilings and large windows that flood the living space with natural light. The heart of the home is a spacious kitchen equipped with a large center island and a dedicated dining area that flows seamlessly into the living room-ideal for entertaining. The upper level serves as a private retreat, featuring a spacious primary suite with a full bath, plus a second bedroom, another full bathroom and conveniently located laundry. The finished basement adds significant living space with a large third bedroom and a versatile rec room. Outside, enjoy a charming front patio and the convenience of a two-car garage. Best of all, this home is incredibly efficient: Gas and electric average just $70/mo, while water, recycling, and garbage average only $52/mo.

Key facts

• Open floor plan
• Large center island
• Charming front patio

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• LARGE CENTER ISLAND
• DEDICATED DINING AREA
• FINISHED BASEMENT
• CHARMING FRONT PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $205k.

Deal economics

• At list price, monthly cash flow is $-451 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (38.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (27.7% below list).
• Recommended offer: $125k (38.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#85 in IA, #1,757 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Southeast Polk Community School District (rural): math 73% / reading 73% proficiency, ranked #70 of 289 in IA (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Willowbrook Elementary (math 69% / reading 64%, grade B+, #313 of 616 statewide, top 51%, 533 students, 50% FRL); Southeast Polk Junior High (math 74% / reading 71%, grade A, #90 of 246 statewide, top 38%, 1,088 students, 37% FRL); Southeast Polk High School (math 65% / reading 74%, grade B, #152 of 336 statewide, top 52%, 2,353 students, 32% FRL) — zoned schools average 40% FRL vs 23% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 310 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 56 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $125,361 (38.8% 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 56 days. Have you received any prior offers? Is the seller open to a 39% 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. 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: 0.72% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.42%
• DSCR: 0.58
• GRM: 11.5

CMA / ARV

• ARV (median comp): $234,326
• List price: $205,000
• Delta: -12.52%
• 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
2815 Orinoco Ct SW	0.02mi	3/2.5 (+1)	1,148 (0%)	2mo	$199,900	$174	92
2806 Ithica Ct	0.04mi	2/2.5	1,188 (+4%)	2mo	$199,000	$168	91
2802 Ithica Ct	0.04mi	2/2.5	1,145 (-0%)	13mo	$238,000	$208	87
2845 Orinoco Ct SW	0.01mi	3/3.0 (+1)	1,027 (-10%)	2mo	$222,000	$216	74
2819 Ashland Ct	0.09mi	2/2.5	1,304 (+14%)	9mo	$206,000	$158	65
1655 34th Ave SW #1	0.44mi	3/2.0 (+1)	1,200 (+4%)	0mo	$175,000	$146	65
1655 34th Ave SW #3	0.44mi	3/2.0 (+1)	1,200 (+4%)	7mo	$151,000	$126	59
2842 Ithica Ct	0.02mi	3/2.5 (+1)	1,318 (+15%)	13mo	$233,000	$177	59
1735 34th Ave SW #10	0.50mi	3/2.0 (+1)	1,200 (+4%)	8mo	$165,000	$138	55
1735 34th Ave SW #1	0.50mi	3/2.0 (+1)	1,200 (+4%)	11mo	$157,000	$131	53
1709 34th Ave SW #5	0.48mi	2/2.0	976 (-15%)	2mo	$150,000	$154	49
1735 34th Ave SW #2	0.50mi	2/2.0	976 (-15%)	6mo	$149,500	$153	45

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.03×
• Total profit: $-59,343
• Equity at exit: $30,566

10-year hold

• IRR: -25.9%
• Equity multiple: -0.35×
• Total profit: $-77,695
• Equity at exit: $17,725

Cash invested: $57,400 (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 50009

• Rents YoY: 4.6%
• Active inventory: 310
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$278 /mo · $3,332/yr
• Insurance: −$85
• HOA: −$184
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-451

Break-even live

Break-even rent $2,053

Max offer price $125,361

Occupancy floor —

Sensitivity live

Price	-10% $-335	-5% $-393	+0% $-451	+5% $-509	+10% $-567
Rent	-10% $-568	-5% $-509	+0% $-451	+5% $-392	+10% $-334
Rate	-1.0pp $-348	-0.5pp $-399	base $-451	+0.5pp $-504	+1.0pp $-558

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 34th Ave SW Altoona, IA	3.0	2.0	1216	$1,299	$1.07	16d	1	0.12mi
1550 28th Ave SW Altoona, IA	3.0	1.0	1051	$1,400	$1.33	16d	1	0.23mi
1554 28th Ave SW Altoona, IA	3.0	1.0	1051	$1,400	$1.33	45d	1	0.24mi
1490 34th Ave SW Altoona, IA	1.0–3.0	1.0–2.0	996	$1,587	$1.59	16d	11	0.37mi
2822 20th St SW Altoona, IA	3.0	2.0	1180	$2,095	$1.78	16d	1	0.59mi
4216 E 50th St Des Moines, IA	1.0–3.0	1.0–2.0	870	$1,240	$1.42	16d	17	0.96mi
908 8th St SW Altoona, IA	1.0–2.0	1.0–2.0	756	$955	$1.26	16d	5	1.07mi
615 17th Ave NW Altoona, IA	1.0–3.0	1.0–2.0	795	$1,240	$1.56	16d	12	1.31mi
1414 Adventureland Dr Altoona, IA	4.0	2.0	916	$2,074	$2.26	16d	10	1.46mi

HOA detail

• Monthly dues: $184 · $2,208/yr
• Likely covers: watertrashgaselectric

Listing history 22 events

1. 2026-06-09
   status $205,000 Pending 56 DOM
2. 2026-06-08
   days on market $205,000 Active 56 DOM
3. 2026-06-07
   days on market $205,000 Active 55 DOM
4. 2026-06-03
   days on market $205,000 Active 51 DOM
5. 2026-06-02
   days on market $205,000 Active 50 DOM
6. 2026-06-01
   days on market $205,000 Active 49 DOM
7. 2026-05-31
   days on market $205,000 Active 48 DOM
8. 2026-05-31
   days on market $205,000 Active 47 DOM
9. 2026-04-13
   listed $205,000 Active 905-char remark

   Show marketing remark (905 chars)

   Discover the perfect blend of comfort and efficiency! This stunning two-story townhome features an airy, open floor plan highlighted by soaring vaulted ceilings and large windows that flood the living space with natural light. The heart of the home is a spacious kitchen equipped with a large center island and a dedicated dining area that flows seamlessly into the living room-ideal for entertaining. The upper level serves as a private retreat, featuring a spacious primary suite with a full bath, plus a second bedroom, another full bathroom and conveniently located laundry. The finished basement adds significant living space with a large third bedroom and a versatile rec room. Outside, enjoy a charming front patio and the convenience of a two-car garage. Best of all, this home is incredibly efficient: Gas and electric average just $70/mo, while water, recycling, and garbage average only $52/mo.

10. 2021-08-31
    soldstatus $181,000
11. 2021-08-09
    soldstatus $181,000 Closed 544-char remark

    Show marketing remark (544 chars)

    Amazingly, Well Kept Two Story Townhome in Altoona. Enjoy the open concept main level floor plan the features the living with vaulted ceilings and an eat-in kitchen with all white appliances and island with sink and dishwasher. The upper level has two bedrooms, 2 full baths and a laundry room. The basement is finished and contains a family room, third bedroom and extra storage space. The extra piece of mind of not having to take care of the lawn or any snow removal is a plus. Come check out this unique townhome and make it your next home.

12. 2021-06-21
    status Pending 544-char remark

    Show marketing remark (544 chars)

    Amazingly, Well Kept Two Story Townhome in Altoona. Enjoy the open concept main level floor plan the features the living with vaulted ceilings and an eat-in kitchen with all white appliances and island with sink and dishwasher. The upper level has two bedrooms, 2 full baths and a laundry room. The basement is finished and contains a family room, third bedroom and extra storage space. The extra piece of mind of not having to take care of the lawn or any snow removal is a plus. Come check out this unique townhome and make it your next home.

13. 2021-06-21
    price $181,000 544-char remark

    Show marketing remark (544 chars)

    Amazingly, Well Kept Two Story Townhome in Altoona. Enjoy the open concept main level floor plan the features the living with vaulted ceilings and an eat-in kitchen with all white appliances and island with sink and dishwasher. The upper level has two bedrooms, 2 full baths and a laundry room. The basement is finished and contains a family room, third bedroom and extra storage space. The extra piece of mind of not having to take care of the lawn or any snow removal is a plus. Come check out this unique townhome and make it your next home.

14. 2021-06-16
    listed $180,000 Active 544-char remark

    Show marketing remark (544 chars)

    Amazingly, Well Kept Two Story Townhome in Altoona. Enjoy the open concept main level floor plan the features the living with vaulted ceilings and an eat-in kitchen with all white appliances and island with sink and dishwasher. The upper level has two bedrooms, 2 full baths and a laundry room. The basement is finished and contains a family room, third bedroom and extra storage space. The extra piece of mind of not having to take care of the lawn or any snow removal is a plus. Come check out this unique townhome and make it your next home.

15. 2018-09-13
    soldstatus $144,000
16. 2018-09-12
    soldstatus $144,000 Sold
17. 2018-08-13
    status Pending
18. 2018-07-24
    price $147,900
19. 2018-07-02
    listed $149,900 Active
20. 2009-07-10
    soldstatus $111,000
21. 2009-02-02
    listed $117,900
22. 2004-12-30
    soldstatus $165,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $3,332 · $278/mo
• Projected year-2 tax: $3,332 · $278/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥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: $17,792
• − Mortgage interest: −$11,483
• − Property taxes: −$3,332
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − HOA: −$2,208
• − Depreciation: −$5,964
• Taxable loss: −$9,067
• Est. tax savings @ 24.0%: +$2,176
• After-tax cash flow: $-3,234/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: Southeast Polk Community School District
• NCES district ID: 1926820
• Math proficiency: 73% ▼ -8.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $73,440
• Composite: 64.1/100
• National rank: #575
• State rank: #70 of 289 in IA

Livability — Altoona

• Score: 80/100
• State rank: #85
• US rank: #1757

Category grades

Amenities F 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: Altoona, IA
• County: Polk County · 453,298 people
• City population: 22,886
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 22,886
• Household income: $88,447
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 566.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 5% Portuguese 3% Italian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Arabic 1%

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: ▼ -154.79%
• Current HPI: 215.9041
• Rent YoY: ▲ 4.61%
• 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

+24.2% since first listed

14 events — show timeline

• 2026-04-13 Listed $205,000 DMMLS
• 2021-08-31 Sold (Public Records) $181,000 Public Records
• 2021-08-09 Sold (MLS) $181,000 DMMLS
• 2021-06-21 Pending — DMMLS
• 2021-06-21 Price Changed $181,000 DMMLS
• 2021-06-16 Listed $180,000 DMMLS
• 2018-09-13 Sold (Public Records) $144,000 Public Records
• 2018-09-12 Sold (MLS) $144,000 DMMLS
• 2018-08-13 Pending — DMMLS
• 2018-07-24 Price Changed $147,900 DMMLS
• 2018-07-02 Listed $149,900 DMMLS
• 2009-07-10 Sold (MLS) $111,000 DMMLS
• 2009-02-02 Listed $117,900 DMMLS
• 2004-12-30 Sold (Public Records) $165,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $3,332 · +2.4% YoY. Source: county tax records.