265 NW Charlestown Ln · Waukee, IA 50263

$314,990

4 bd · 2.5 ba · 1,798 sqft · Other public records · 72 Days on market

Built 2021 5,395 sqft lot $175/sqft · 9% below area Est $347k · 9% under $17/mo HOA · 1% of rent

---

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 +11.7/15.0
• Schools +7.1/10.0
• Cash flow +6.8/30.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained home in the highly desirable Waukee community! Located at 265 NW Charlestown Ln, this property offers the perfect blend of comfort, space, and convenience. Step inside to an inviting open floor plan featuring a bright and spacious living area, ideal for both relaxing and entertaining. The kitchen is thoughtfully designed with ample cabinetry, modern appliances, and a generous dining space. This home features well-sized bedrooms, including a comfortable primary suite with a private bath and plenty of closet space. Additional bedrooms offer flexibility for family, guests, or a home office. Enjoy outdoor living with a nicely sized yard -perfect for gatherings, gardening, or simply unwinding. The property is situated in a great neighborhood with easy access to parks, shopping, dining, and top-rated Waukee schools. Whether you're a first-time buyer, growing family, or investor, this home is a fantastic opportunity you don't want to miss!

Key facts

• 5,395 sq ft lot
• 2 garage spots
• Built 2021

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $315k.

Deal economics

• At list price, monthly cash flow is $-492 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (30.2% below list).
• Recommended offer: $220k (30.2% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.0% in Waukee — 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 84/100 on livability (#22 in IA, #682 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, 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: Shuler Elementary School (math 91% / reading 86%, grade A+, #12 of 616 statewide, top 2%, 658 students, 7% 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 14% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 891 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $9k 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 72 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $219,753 (30.2% 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 72 days. Have you received any prior offers? Is the seller open to a 30% 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: 0.70% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.70%
• DSCR: 0.70
• GRM: 11.9

CMA / ARV

• ARV (median comp): $347,257
• List price: $314,990
• Delta: -9.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -29.2%
• Equity multiple: 0.04×
• Total profit: $-84,905
• Equity at exit: $46,966

10-year hold

• IRR: -35.2%
• Equity multiple: -0.41×
• Total profit: $-124,371
• Equity at exit: $27,235

Cash invested: $88,197 (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 50263

• Rents YoY: 1.8%
• Active inventory: 891
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,198 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$428 /mo · $5,138/yr
• Insurance: −$131
• HOA: −$17
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-492

Break-even live

Break-even rent $2,821

Max offer price $228,040

Occupancy floor —

Sensitivity live

Price	-10% $-314	-5% $-403	+0% $-492	+5% $-581	+10% $-671
Rent	-10% $-666	-5% $-579	+0% $-492	+5% $-405	+10% $-319
Rate	-1.0pp $-334	-0.5pp $-412	base $-492	+0.5pp $-574	+1.0pp $-657

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: $78,748
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
289 NW Charlestown Ln Waukee, IA	4.0	2.5	1767	$2,200	$1.25	46d	1	0.07mi
1036 NW Richmond Rd Waukee, IA	3.0	2.5	1450	$1,750	$1.21	25d	1	0.09mi
350 NW 6th St Waukee, IA	1.0–3.0	1.0–3.5	1163	$2,308	$1.98	16d	20	0.39mi
655 NW Williamsburg Ln Waukee, IA	4.0	2.5	1875	$2,445	$1.30	16d	1	0.46mi
1283 NW Williamsburg Ln Unit 1 Waukee, IA	4.0	3.0	1410	$2,495	$1.77	16d	1	0.56mi
1110 NW Sproul Dr Waukee, IA	4.0	3.0	2028	$2,800	$1.38	25d	1	0.60mi
284 NW Caspian Ct Waukee, IA	4.0	2.5	1605	$2,195	$1.37	16d	1	0.82mi
305 NW Morgan Ct Waukee, IA	5.0	3.5	2200	$2,595	$1.18	46d	1	0.87mi
175 NW Common Pl Waukee, IA	1.0–3.0	1.0–2.5	929	$1,775	$1.91	16d	10	0.98mi
122 NW Pike Cir Waukee, IA	4.0	2.5	1809	$2,495	$1.38	46d	1	1.07mi
330 NE Cardinal Ln Waukee, IA	4.0	3.0	1492	$2,500	$1.68	46d	1	1.38mi
940 10th St Waukee, IA	1.0–3.0	1.0–2.5	962	$1,795	$1.86	16d	79	1.42mi

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 26 events

1. 2026-06-21
   days on market $314,990 Active 72 DOM
2. 2026-06-18
   days on market $314,990 Active 69 DOM
3. 2026-06-17
   days on market $314,990 Active 68 DOM
4. 2026-06-16
   days on market $314,990 Active 67 DOM
5. 2026-06-15
   days on market $314,990 Active 66 DOM
6. 2026-06-14
   days on market $314,990 Active 64 DOM
7. 2026-06-13
   days on market $314,990 Active 63 DOM
8. 2026-06-10
   days on market $314,990 Active 61 DOM
9. 2026-06-09
   days on market $314,990 Active 60 DOM
10. 2026-06-08
    days on market $314,990 Active 59 DOM
11. 2026-06-07
    days on market $314,990 Active 58 DOM
12. 2026-06-05
    days on market $314,990 Active 55 DOM
13. 2026-06-03
    days on market $314,990 Active 54 DOM
14. 2026-06-02
    pricedays on market $314,990 Active 53 DOM
15. 2026-06-01
    days on market $319,990 Active 52 DOM
16. 2026-05-31
    days on market $319,990 Active 51 DOM
17. 2026-05-31
    days on market $319,990 Active 50 DOM
18. 2026-04-10
    listed $319,990 Active 985-char remark

    Show marketing remark (985 chars)

    Welcome to this beautifully maintained home in the highly desirable Waukee community! Located at 265 NW Charlestown Ln, this property offers the perfect blend of comfort, space, and convenience. Step inside to an inviting open floor plan featuring a bright and spacious living area, ideal for both relaxing and entertaining. The kitchen is thoughtfully designed with ample cabinetry, modern appliances, and a generous dining space. This home features well-sized bedrooms, including a comfortable primary suite with a private bath and plenty of closet space. Additional bedrooms offer flexibility for family, guests, or a home office. Enjoy outdoor living with a nicely sized yard -perfect for gatherings, gardening, or simply unwinding. The property is situated in a great neighborhood with easy access to parks, shopping, dining, and top-rated Waukee schools. Whether you're a first-time buyer, growing family, or investor, this home is a fantastic opportunity you don't want to miss!

19. 2022-04-14
    soldstatus $316,390 Closed 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

20. 2022-03-03
    status Pending 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

21. 2022-02-28
    price $311,990 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

22. 2022-01-31
    price $309,990 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

23. 2022-01-10
    price $316,990 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

24. 2021-12-27
    price $315,990 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

25. 2021-12-10
    price $313,990 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

26. 2021-08-30
    listed $308,190 Active 964-char remark

    Show marketing remark (964 chars)

    D. R. Horton, America's Builder, presents the Emerson plan. This two-story twinhome presents 4 bedrooms and 2.5 baths in an open-concept layout. The main level features solid surface flooring throughout, as well as a spacious, gourmet kitchen with a large kitchen island, perfect for entertaining friends and family. Upstairs, you'll find a lovely bedroom that features a walk-in closet with ample storage space and ensuite bathroom with a double vanity sink. Three additional bedrooms, a bathroom, and laundry room round out the rest of the upper level. All D. R. Horton Iowa homes include our America’s Smart Home® Technology which allows you to monitor and control your home from your couch or from 500 miles away and connect to your home with your smartphone, tablet or computer. This home is currently under construction. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

ⓘ 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: $5,138 · $428/mo
• Projected year-2 tax: $5,138 · $428/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $26,370
• − Mortgage interest: −$17,644
• − Property taxes: −$5,138
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − HOA: −$204
• − Depreciation: −$9,163
• Taxable loss: −$11,574
• Est. tax savings @ 24.0%: +$2,778
• After-tax cash flow: $-3,129/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 — Waukee

• Score: 84/100
• State rank: #22
• US rank: #682

Category grades

Amenities F 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: Waukee, IA
• County: Dallas County · 77,082 people
• City population: 29,611
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 29,611
• Household income: $102,762
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 468.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 7% Asian 6% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 3% Lithuanian 3% Iranian 3%
• Foreign-born: 13% · Canada, India
• Languages at home: 85% English-only · Other Asian/Pacific 3% Spanish 3% Arabic 2%

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: ▼ -97.95%
• Current HPI: 169.2421
• Rent YoY: ▲ 1.82%
• 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

+3.8% since first listed

9 events — show timeline

• 2026-04-10 Listed $319,990 DMMLS
• 2022-04-14 Sold (MLS) $316,390 DMMLS
• 2022-03-03 Pending — DMMLS
• 2022-02-28 Price Changed $311,990 DMMLS
• 2022-01-31 Price Changed $309,990 DMMLS
• 2022-01-10 Price Changed $316,990 DMMLS
• 2021-12-27 Price Changed $315,990 DMMLS
• 2021-12-10 Price Changed $313,990 DMMLS
• 2021-08-30 Listed $308,190 DMMLS

Property tax history

+318.5%/yr

Latest (2025): $5,138 · -1.8% YoY. Source: county tax records.