4745 170th Pl · Urbandale, IA 50323

$243,590

3 bd · 2.5 ba · 1,511 sqft · Other · 212 Days on market

Built 2025 Good condition 1,560 sqft lot $161/sqft · 7% below area Est $262k · 7% under $175/mo HOA · 9% of rent ↓ 3% 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 +10.6/15.0
• Cash flow +8.1/30.0
• Appreciation +7.4/10.0
• Schools +7.1/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• DSCR +2.1/10.0

Listing remarks MLS

* MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

Key facts

• Gourmet kitchen
• Acadia park
• Great room

Tags

• MALLARD PRAIRIE COMMUNITY
• RADIANT ELEMENTARY SCHOOL
• ACADIA PARK
• GREAT ROOM
• COZY FIREPLACE
• GOURMET KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $244k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (15.9% below list).
• Recommended offer: $205k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: 378 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent is only 14% 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 $13k of equity ($2k loan paydown + $12k 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 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($214k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,765 (15.9% 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 212 days. Have you received any prior offers? Is the seller open to a 16% 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: 0.84% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 9.9

CMA / ARV

• ARV (median comp): $261,832
• List price: $243,590
• Delta: -6.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.8%
• Equity multiple: 1.56×
• Total profit: $38,278
• Equity at exit: $135,198

10-year hold

• IRR: 10.6%
• Equity multiple: 2.91×
• Total profit: $130,574
• Equity at exit: $231,018

Cash invested: $68,205 (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: 378
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$1,277
• Tax est. 1.5%: −$304 /mo · $3,654/yr
• Insurance: −$101
• HOA: −$175
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-241

Break-even live

Break-even rent $2,352

Max offer price $208,753

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: $60,898
• Closing costs: $7,308
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4743 170th Pl Waukee, IA	3.0	2.5	1511	$2,050	$1.36	14d	1	0.02mi
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	14d	1	0.32mi
4735 NW 167th St Waukee, IA	3.0	3.0	1557	$2,300	$1.48	43d	1	0.34mi
16605 Oakwood Dr Urbandale, IA	3.0	2.5	1572	$2,350	$1.49	43d	1	0.44mi
4401 N Warrior Ln Clive, IA	2.0	2.0	2022	$2,875	$1.42	18d	1	1.09mi
4304 154th St Urbandale, IA	2.0	2.5	1240	$1,595	$1.29	43d	1	1.20mi
4307 154th St Urbandale, IA	3.0	2.5	1445	$1,850	$1.28	23d	1	1.22mi
15221 Alpine Dr Urbandale, IA	2.0	2.0	1056	$1,550	$1.47	43d	1	1.27mi
5437 155th St Urbandale, IA	3.0–4.0	2.5	1590	$1,969	$1.24	14d	8	1.30mi
4304 153rd Pl Urbandale, IA	2.0	2.5	1240	$1,450	$1.17	21d	1	1.30mi
15211 Greenbelt Dr Urbandale, IA	2.0	2.0	1056	$1,450	$1.37	18d	1	1.31mi
4315 152nd Ct Urbandale, IA	2.0	2.5	1240	$1,495	$1.21	14d	1	1.35mi
835 NE Redwood Blvd Waukee, IA	2.0	2.0	1457	$2,235	$1.53	14d	3	1.42mi
4015 154th St Urbandale, IA	3.0	2.5	1428	$2,295	$1.61	18d	1	1.49mi

HOA detail

• Monthly dues: $175 · $2,100/yr
• Likely covers: electric

Listing history 6 events

1. 2026-05-08
   price $244,990 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

2. 2026-04-09
   price $242,990 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

3. 2026-03-06
   price $245,990 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

4. 2026-01-08
   price $244,990 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

5. 2025-11-18
   price $249,990 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

6. 2025-10-21
   listed $251,990 Active 926-char remark

   Show marketing remark (926 chars)

   * MOVE IN READY * Welcome to the Sydney, a two-story townhome in Mallard Prairie Townhomes - offering 3 bedrooms, 2.5 bathrooms, and 1,511 sq. ft. of thoughtfully designed space with appliances included. Step through the foyer into a bright, open-concept main level that flows seamlessly from the kitchen to the dining and great room, complete with a cozy electric fireplace. The kitchen shines with white cabinetry, stainless steel appliances, and a large island perfect for cooking and entertaining. Upstairs, the primary suite features a walk-in closet and en-suite with dual vanities and a walk-in shower. Two additional bedrooms with large closets, a full bathroom, and an upstairs laundry area provide flexibility and convenience. All D. R. Horton homes include smart home features. Visit today and see why the Sydney is built for the way you live! Ask about builder incentives with preferred lender. Photos similar to.

ⓘ 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: $24,572
• − Mortgage interest: −$13,645
• − Property taxes: −$3,654
• − Insurance: −$1,218
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − HOA: −$2,100
• − Depreciation: −$7,086
• Taxable loss: −$7,063
• Est. tax savings @ 24.0%: +$1,695
• After-tax cash flow: $-1,194/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 · 1 photo

Good 80/100 Cosmetic rehab

This move-in ready townhome in Mallard Prairie Townhomes is in good condition with a fresh paint job and modern appliances. It offers a bright, open-concept layout and thoughtfully designed space, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers or renters.
• Both Upgrading light fixtures — Modernizes the space and can improve energy efficiency.
• Both Adding smart home features — Enhances convenience and can increase property value in the future.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers or renters. ↑
• Both Upgrading light fixtures — Modernizes the space and can improve energy efficiency. ↑
• Both Adding smart home features — Enhances convenience and can increase property value in the future. ↑

ⓘ 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): 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

-2.8% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $244,990 DMMLS
• 2026-04-09 Price Changed $242,990 DMMLS
• 2026-03-06 Price Changed $245,990 DMMLS
• 2026-01-08 Price Changed $244,990 DMMLS
• 2025-11-18 Price Changed $249,990 DMMLS
• 2025-10-21 Listed $251,990 DMMLS