5201 172nd St · Urbandale, IA 50323

$544,900

4 bd · 2.5 ba · 2,683 sqft · Other · 227 Days on market

Built 2025 9,445 sqft lot $203/sqft · 21% below area Est $692k · 21% under $15/mo HOA · 1% of rent ↓ 2% since listing

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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 +15.0/15.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to your forever home by Destiny Homes in Urbandale's Bentley Ridge. This move in ready Belle plan is a spacious and flexible 1.5 story plan that is designed with family and modern living in mind. With just over 2600 square feet, this home offers 4 bedrooms and 2.5 bathrooms, making it ideal for growing families or those who need extra space. The main level features an open-concept layout that connects the great room, kitchen, and dinette, creating a welcoming space for both everyday living and entertaining. The kitchen includes a large island, walk-in double sided pantry, and ample cabinetry for storage. A private primary suite is conveniently located on the main floor, complete with a generous walk-in closet and dual vanities in the bathroom. You'll also find a dedicated office near the front entry, a drop zone with built-in bench, and laundry space. Upstairs, the Belle offers three additional bedrooms-each with its own walk-in closet-a full bath with double sinks, and a spacious loft area perfect for a second living room, play space, or homework zone. (Bentley Ridge is located in the Waukee School District) All Destiny homes 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 preferred lender. All information obtained from seller and public records.

Key facts

• Dual vanities
• Large island
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• LARGE ISLAND
• WALK-IN DOUBLE SIDED PANTRY
• PRIVATE PRIMARY SUITE
• GENEROUS WALK-IN CLOSET
• DUAL VANITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $545k.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (53.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (59.1% below list).
• Recommended offer: $223k (59.1% below list) — sets the bar for 1% rule.
• Cap rate 1.8% vs local median 2.4% in Urbandale — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1 comparable units currently listed for rent nearby; 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 $30k of equity ($4k loan paydown + $26k 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 ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $223,005 (59.1% 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 227 days. Have you received any prior offers? Is the seller open to a 59% 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: 0.41% ✗
• Cap rate: 1.85%
• Cash-on-cash: -15.88%
• DSCR: 0.29
• GRM: 20.4

CMA / ARV

• ARV (median comp): $692,390
• List price: $544,900
• Delta: -20.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-8,927
• Equity at exit: $302,433

10-year hold

• IRR: 3.0%
• Equity multiple: 1.57×
• Total profit: $87,260
• Equity at exit: $516,778

Cash invested: $152,572 (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: 20.4×

Monthly cashflow live

• Estimated rent: $2,230 medium
• Mortgage (P&I): −$2,858
• Tax est. 1.5%: −$681 /mo · $8,174/yr
• Insurance: −$227
• HOA: −$15
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-2,019

Break-even live

Break-even rent $4,786

Max offer price $252,756

Occupancy floor —

Sensitivity live

Price	-10% $-1,642	-5% $-1,831	+0% $-2,019	+5% $-2,207	+10% $-2,396
Rent	-10% $-2,195	-5% $-2,107	+0% $-2,019	+5% $-1,931	+10% $-1,843
Rate	-1.0pp $-1,745	-0.5pp $-1,880	base $-2,019	+0.5pp $-2,160	+1.0pp $-2,304

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: $136,225
• Closing costs: $16,347
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5440 154th Ct Urbandale, IA	4.0	3.5	2367	$2,200	$0.93	21d	1	1.40mi

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 23 events

1. 2026-06-21
   pricedays on market $544,900 Active 227 DOM
2. 2026-06-18
   days on market $549,900 Active 224 DOM
3. 2026-06-17
   days on market $549,900 Active 223 DOM
4. 2026-06-16
   days on market $549,900 Active 222 DOM
5. 2026-06-15
   days on market $549,900 Active 221 DOM
6. 2026-06-14
   days on market $549,900 Active 219 DOM
7. 2026-06-13
   days on market $549,900 Active 218 DOM
8. 2026-06-10
   days on market $549,900 Active 216 DOM
9. 2026-06-09
   days on market $549,900 Active 215 DOM
10. 2026-06-08
    days on market $549,900 Active 214 DOM
11. 2026-06-07
    days on market $549,900 Active 213 DOM
12. 2026-06-05
    days on market $549,900 Active 210 DOM
13. 2026-06-03
    days on market $549,900 Active 209 DOM
14. 2026-06-02
    days on market $549,900 Active 208 DOM
15. 2026-06-01
    days on market $549,900 Active 207 DOM
16. 2026-05-31
    days on market $549,900 Active 206 DOM
17. 2026-05-31
    days on market $549,900 Active 205 DOM
18. 2026-04-17
    listed $549,900 Active 1411-char remark

    Show marketing remark (1411 chars)

    Welcome to your forever home by Destiny Homes in Urbandale's Bentley Ridge. This move in ready Belle plan is a spacious and flexible 1.5 story plan that is designed with family and modern living in mind. With just over 2600 square feet, this home offers 4 bedrooms and 2.5 bathrooms, making it ideal for growing families or those who need extra space. The main level features an open-concept layout that connects the great room, kitchen, and dinette, creating a welcoming space for both everyday living and entertaining. The kitchen includes a large island, walk-in double sided pantry, and ample cabinetry for storage. A private primary suite is conveniently located on the main floor, complete with a generous walk-in closet and dual vanities in the bathroom. You'll also find a dedicated office near the front entry, a drop zone with built-in bench, and laundry space. Upstairs, the Belle offers three additional bedrooms-each with its own walk-in closet-a full bath with double sinks, and a spacious loft area perfect for a second living room, play space, or homework zone. (Bentley Ridge is located in the Waukee School District) All Destiny homes 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 preferred lender. All information obtained from seller and public records.

19. 2025-12-11
    price $549,900
20. 2025-11-06
    listed $558,550 Active
21. 2025-10-28
    historical
22. 2025-06-25
    price $565,400
23. 2025-06-13
    listed $558,550 Active

ⓘ 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: $26,761
• − Mortgage interest: −$30,523
• − Property taxes: −$8,174
• − Insurance: −$2,724
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − HOA: −$180
• − Depreciation: −$15,852
• Taxable loss: −$34,974
• Est. tax savings @ 24.0%: +$8,394
• After-tax cash flow: $-15,834/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

-1.5% since first listed

6 events — show timeline

• 2026-04-17 Listed $549,900 Zillow
• 2025-12-11 Price Changed $549,900 DMMLS
• 2025-11-06 Listed $558,550 DMMLS
• 2025-10-28 Listing Removed — DMMLS
• 2025-06-25 Price Changed $565,400 DMMLS
• 2025-06-13 Listed $558,550 DMMLS

Property tax history

+0.0%/yr

Latest (2025): $6 · +0.0% YoY. Source: county tax records.