Holland Plan · Urbandale, IA 50323

$404,990

4 bd · 2.5 ba · 2,356 sqft · SingleFamily · 104 Days on market

---

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 +4.4/30.0
• 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 to the Holland floor plan at Mallard Prairie in Urbandale, IA. This 2-story home offers 4 bedrooms, 2.5 bathrooms, a 3-car garage, and 2,356 sq. ft. of living space. Multiple exterior options and an open-concept layout make this home a popular choice. The foyer leads to a flex room perfect for an office, a guest bathroom, and access to the garage and stairs. The heart of the home features a living room with 9-ft ceilings, an electric fireplace, and a gourmet kitchen with quartz countertops, stainless steel appliances, subway tile backsplash, a walk-in pantry, and an oversized island for gathering. Sliding glass doors open to the back patio/deck, making entertaining easy. Upstairs, three secondary bedrooms share a bathroom with dual vanities, a water closet, and tub, along with an oversized laundry and bonus room for extra flexibility. The primary bedroom offers a private ensuite with dual sinks, ceramic-tile walk-in shower, and a spacious walk-in closet. The finished basement offers a rec area, the fifth bedroom, and third full bathroom. Step into your new home in the Mallard Prairie community today!

Key facts

• Quartz countertops
• Gourmet kitchen
• Flex room

Tags

• HOLLAND FLOOR PLAN
• OPEN-CONCEPT LAYOUT
• FLEX ROOM
• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

🏗️ New construction. The $404,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $433,942.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $405k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (33.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (41.9% below list).
• Recommended offer: $235k (41.9% below list) — sets the bar for 1% rule.
• Cap rate 3.1% 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; 2 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 16% 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 $24k of equity ($3k loan paydown + $21k 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 ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($369k) is reasonable based on typical stale-listing flexibility.

Recommended offer $235,454 (41.9% 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 104 days. Have you received any prior offers? Is the seller open to a 42% 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: 3.14%
• Cash-on-cash: -11.25%
• DSCR: 0.50
• GRM: 15.4

CMA / ARV

• ARV (median comp): $433,942
• List price: $404,990
• Delta: -6.67%
• 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
4676 180th St	0.46mi	4/2.5	2,330 (-1%)	1mo	$486,958	$209	76
4648 177th St	0.28mi	4/2.5	2,225 (-6%)	4mo	$495,500	$223	75
4774 172nd Way	0.12mi	4/2.5	2,153 (-9%)	7mo	$460,000	$214	75
4647 178th St	0.47mi	4/2.5	2,208 (-6%)	2mo	$489,900	$222	66
17511 N Valley Dr	0.36mi	5/3.5 (+1)	2,075 (-12%)	2mo	$961,352	$463	53
5114 168th St	0.51mi	4/3.0	2,053 (-13%)	1mo	$358,990	$175	52
17519 North Valley Dr	0.69mi	5/4.0 (+1)	2,293 (-3%)	0mo	$1,005,000	$438	52
17987 Alpine Dr	0.64mi	3/2.5 (-1)	2,073 (-12%)	1mo	$379,900	$183	45
4668 178th St	0.47mi	5/3.5 (+1)	2,066 (-12%)	6mo	$659,900	$319	43
4500 NW 167th St	0.68mi	5/4.5 (+1)	2,489 (+6%)	4mo	$591,500	$238	43
5104 168th St	0.50mi	5/4.0 (+1)	2,053 (-13%)	3mo	$413,990	$202	42
4623 179th St	0.47mi	5/3.5 (+1)	2,039 (-14%)	7mo	$1,149,708	$564	40

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: 2.9%
• Equity multiple: 1.19×
• Total profit: $22,766
• Equity at exit: $240,849

10-year hold

• IRR: 5.9%
• Equity multiple: 2.10×
• Total profit: $133,978
• Equity at exit: $411,547

Cash invested: $121,504 (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: 14.3×

Monthly cashflow live

• Estimated rent: $2,355 medium
• Mortgage (P&I): −$2,276
• Tax est. 1.5%: −$542 /mo · $6,509/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-1,139

Break-even live

Break-even rent $3,796

Max offer price $269,157

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: $108,486
• Closing costs: $13,018
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4736 167th St Urbandale, IA	3.0	2.5	1585	$2,296	$1.45	14d	1	0.55mi
16008 Springbrook Trl Urbandale, IA	5.0	3.0	1670	$2,900	$1.74	44d	1	1.11mi

Listing history 17 events

1. 2026-06-18
   days on market $404,990 Active 104 DOM
2. 2026-06-17
   days on market $404,990 Active 103 DOM
3. 2026-06-16
   days on market $404,990 Active 102 DOM
4. 2026-06-15
   days on market $404,990 Active 101 DOM
5. 2026-06-14
   days on market $404,990 Active 99 DOM
6. 2026-06-13
   days on market $404,990 Active 98 DOM
7. 2026-06-10
   days on market $404,990 Active 96 DOM
8. 2026-06-09
   days on market $404,990 Active 95 DOM
9. 2026-06-08
   days on market $404,990 Active 94 DOM
10. 2026-06-07
    days on market $404,990 Active 93 DOM
11. 2026-06-05
    days on market $404,990 Active 90 DOM
12. 2026-06-03
    days on market $404,990 Active 89 DOM
13. 2026-06-02
    days on market $404,990 Active 88 DOM
14. 2026-06-01
    days on market $404,990 Active 87 DOM
15. 2026-05-31
    days on market $404,990 Active 86 DOM
16. 2026-05-31
    days on market $404,990 Active 85 DOM
17. 2026-03-06
    listed $404,990 Active 1125-char remark

    Show marketing remark (1125 chars)

    Welcome to the Holland floor plan at Mallard Prairie in Urbandale, IA. This 2-story home offers 4 bedrooms, 2.5 bathrooms, a 3-car garage, and 2,356 sq. ft. of living space. Multiple exterior options and an open-concept layout make this home a popular choice. The foyer leads to a flex room perfect for an office, a guest bathroom, and access to the garage and stairs. The heart of the home features a living room with 9-ft ceilings, an electric fireplace, and a gourmet kitchen with quartz countertops, stainless steel appliances, subway tile backsplash, a walk-in pantry, and an oversized island for gathering. Sliding glass doors open to the back patio/deck, making entertaining easy. Upstairs, three secondary bedrooms share a bathroom with dual vanities, a water closet, and tub, along with an oversized laundry and bonus room for extra flexibility. The primary bedroom offers a private ensuite with dual sinks, ceramic-tile walk-in shower, and a spacious walk-in closet. The finished basement offers a rec area, the fifth bedroom, and third full bathroom. Step into your new home in the Mallard Prairie community today!

ⓘ 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: $28,254
• − Mortgage interest: −$24,308
• − Property taxes: −$6,509
• − Insurance: −$2,170
• − Repairs & maintenance: −$2,260
• − Management: −$2,260
• − Depreciation: −$12,624
• Taxable loss: −$21,876
• Est. tax savings @ 24.0%: +$5,250
• After-tax cash flow: $-8,415/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

• 2026-03-06 Listed $404,990 Zillow