1008 NE Kamies Ln · Ankeny, IA 50021

$221,500

3 bd · 2.5 ba · 1,520 sqft · Condo public records · 33 Days on market

Built 2004 $254/mo HOA · 14% 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 +7.5/15.0
• Cash flow +7.1/30.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• 1% rule +3.4/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This townhome won't last long! Over 1850 sq feet of finished living space with geo-thermal units, walk-out lot, central vac and deck. Come see this well maintained 4BR and 3.5BA with large kitchen/ movable center island, family room and half bath. Lower level offers a guest room with full bath and laundry/ mud room. Upstairs offers large master room with a full bathroom, walk in closet and additional 2 bedrooms with another full bath.

Key facts

• New water heater
• Deck replacement
• Updated kitchen

Tags

• UPDATED KITCHEN
• PRIVATE PRIMARY SUITE
• FINISHED LOWER LEVEL
• NEW WATER HEATER
• DECK REPLACEMENT
• ENERGY-EFFICIENT FEATURES

Property features AI

Finance

• Other: Pets allowed with restrictions
• HOA & community: Homeowners association: Creekside Brownstones (management: Triplett Property Management); Monthly association fee of $254; HOA covers grounds and structure maintenance, snow removal, and trash; Community clubhouse

Exterior

• Parking: Attached two-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Two stories; Vinyl siding; Shingle (asphalt) roof; Poured foundation
• Construction: Built with vinyl siding; Asphalt shingle roof; Poured foundation
• Exterior features: Deck; Concrete road frontage; Planned Unit Development (PUD) zoning

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Flooring: Carpet; Tile
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Geothermal heating; Central air conditioning
• Interior features: Eat-in kitchen; Partially finished walk-out basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $-318 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (16.5% below list).
• Recommended offer: $165k (25.3% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.0% in Ankeny — 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 92/100 on livability (#3 in IA, #29 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: commute C-.
• Ankeny Community School District (suburban): math 80% / reading 82% proficiency, ranked #15 of 289 in IA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Rock Creek Elementary (math 85% / reading 79%, grade A+, #44 of 616 statewide, top 9%, 732 students, 18% FRL); Prairie Ridge Middle School (math 81% / reading 84%, grade A+, #16 of 246 statewide, top 8%, 1,025 students, 16% FRL); Ankeny Centennial High School (math 79% / reading 85%, grade A, #20 of 336 statewide, top 7%, 1,443 students, 16% FRL).
• Market conditions: Rents flat; 712 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2k of loan paydown is wiped out by about $7k 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 33 days — a 3% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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.
• Current owner paid $160k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $165,354 (25.3% 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 33 days. Have you received any prior offers? Is the seller open to a 25% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.15%
• DSCR: 0.73
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -29.6%
• Equity multiple: 0.04×
• Total profit: $-59,747
• Equity at exit: $33,026

10-year hold

• IRR: -44.5%
• Equity multiple: -0.49×
• Total profit: $-92,286
• Equity at exit: $19,151

Cash invested: $62,020 (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 50021

• Rents YoY: 0.9%
• Active inventory: 712
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$1,162
• Tax from tax record: −$271 /mo · $3,256/yr
• Insurance: −$92
• HOA: −$254
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-318

Break-even live

Break-even rent $2,252

Max offer price $165,354

Occupancy floor —

Sensitivity live

Price	-10% $-192	-5% $-255	+0% $-318	+5% $-381	+10% $-443
Rent	-10% $-464	-5% $-391	+0% $-318	+5% $-245	+10% $-172
Rate	-1.0pp $-206	-0.5pp $-261	base $-318	+0.5pp $-375	+1.0pp $-434

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: $55,375
• Closing costs: $6,645
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4543 NE McDougal Ln Ankeny, IA	3.0	3.5	1520	$1,895	$1.25	15d	1	0.07mi
3921 NE Gardenia Ln Ankeny, IA	2.0	1.5	1300	$1,595	$1.23	45d	1	0.44mi
1424 NE 56th Ln Ankeny, IA	4.0	2.5	1658	$2,300	$1.39	15d	6	0.64mi
3611 NE Otterview Cir Ankeny, IA	1.0–2.0	1.0–2.0	834	$1,800	$2.16	15d	20	0.72mi
110 NE 46th Ln Ankeny, IA	2.0–3.0	2.0	1099	$1,400	$1.27	15d	3	0.85mi
3635 NE Kara Ln Ankeny, IA	3.0	2.0	1740	$1,950	$1.12	25d	1	0.85mi
3707 NE Marissa Ln Ankeny, IA	3.0	2.5	1480	$1,795	$1.21	25d	1	0.86mi
3654 NE Kara Ln Ankeny, IA	2.0	2.0	1368	$1,950	$1.43	45d	1	0.86mi
3619 NE Kara Ln Ankeny, IA	3.0	2.5	1700	$1,950	$1.15	25d	1	0.86mi
3630 NE Kara Ln Ankeny, IA	2.0	2.0	1336	$1,900	$1.42	45d	1	0.88mi
3622 NE Kara Ln Ankeny, IA	3.0	2.5	1740	$1,950	$1.12	45d	1	0.88mi
3641 NE Marissa Ln Ankeny, IA	2.0	2.0	1336	$1,900	$1.42	25d	1	0.89mi
3624 NE Marissa Ln Ankeny, IA	3.0	3.0	1740	$1,950	$1.12	45d	1	0.92mi
2820 NE 38th St Ankeny, IA	1.0–2.0	1.0–2.0	861	$1,775	$2.06	15d	10	1.15mi

HOA detail condo

• Monthly dues: $254 · $3,048/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-23
   listed $223,000 Active 1113-char remark
2. 2018-05-03
   soldstatus $160,000
3. 2018-04-12
   soldstatus $160,000 Sold 438-char remark

   Show marketing remark (438 chars)

   This townhome won't last long! Over 1850 sq feet of finished living space with geo-thermal units, walk-out lot, central vac and deck. Come see this well maintained 4BR and 3.5BA with large kitchen/ movable center island, family room and half bath. Lower level offers a guest room with full bath and laundry/ mud room. Upstairs offers large master room with a full bathroom, walk in closet and additional 2 bedrooms with another full bath.

4. 2018-02-19
   listed $160,000 438-char remark

   Show marketing remark (438 chars)

   This townhome won't last long! Over 1850 sq feet of finished living space with geo-thermal units, walk-out lot, central vac and deck. Come see this well maintained 4BR and 3.5BA with large kitchen/ movable center island, family room and half bath. Lower level offers a guest room with full bath and laundry/ mud room. Upstairs offers large master room with a full bathroom, walk in closet and additional 2 bedrooms with another full bath.

5. 2017-05-10
   soldstatus $158,000
6. 2017-05-05
   soldstatus $158,000

   Show marketing remark (450 chars)

   Incredible 4 BR 4 BA Townhome in an amazing family neighborhood. Located next to several parks in Ankeny, this townhome is perfect for all styles of families. The over-sized kitchen is great for entertaining family and friends and if extra space is needed, we have a Clubhouse available on request. All new paint, new carpet and wood laminate flooring. This unit has over 1850 sq ft of living space, geo-thermal units, Central vacuum system included.

7. 2017-03-10
   listed $158,000

   Show marketing remark (450 chars)

   Incredible 4 BR 4 BA Townhome in an amazing family neighborhood. Located next to several parks in Ankeny, this townhome is perfect for all styles of families. The over-sized kitchen is great for entertaining family and friends and if extra space is needed, we have a Clubhouse available on request. All new paint, new carpet and wood laminate flooring. This unit has over 1850 sq ft of living space, geo-thermal units, Central vacuum system included.

8. 2009-10-30
   soldstatus $129,900
9. 2009-10-30
   soldstatus $130,000
10. 2009-02-16
    listed $129,900
11. 2004-12-23
    listed $151,200

ⓘ 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: $3,256 · $271/mo
• Projected year-2 tax: $3,367 · $281/mo
• Expected delta: +$111/yr (+$9/mo · 3.4%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,198
• − Mortgage interest: −$12,407
• − Property taxes: −$3,256
• − Insurance: −$1,108
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − HOA: −$3,048
• − Depreciation: −$6,444
• Taxable loss: −$7,616
• Est. tax savings @ 24.0%: +$1,828
• After-tax cash flow: $-1,986/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: Ankeny Community School District
• NCES district ID: 1903690
• Math proficiency: 80% ▼ -5.00%
• Reading proficiency: 82% ▬ 0.00%
• Median HH income: $75,384
• Composite: 70.91/100
• National rank: #246
• State rank: #15 of 289 in IA

Livability — Ankeny

• Score: 92/100
• State rank: #3
• US rank: #29

Category grades

Amenities A+ Commute C- Cost of living A- Crime A Employment A+ Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ankeny, IA
• County: Polk County · 453,298 people
• City population: 76,589
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 30,283
• Household income: $99,572
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 472.0

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 6% Black 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Portuguese 4% Iranian 3%
• Foreign-born: 6% · Canada, South Korea, Jamaica
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -150.38%
• Current HPI: 208.945
• Rent YoY: ▲ 0.92%
• 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

+46.5% since first listed

13 events — show timeline

• 2026-05-26 Pending — DMMLS
• 2026-05-21 Price Changed $221,500 DMMLS
• 2026-04-23 Listed $223,000 DMMLS
• 2018-05-03 Sold (Public Records) $160,000 Public Records
• 2018-04-12 Sold (MLS) $160,000 DMMLS
• 2018-02-19 Listed $160,000 DMMLS
• 2017-05-10 Sold (Public Records) $158,000 Public Records
• 2017-05-05 Sold (MLS) $158,000 DMMLS
• 2017-03-10 Listed $158,000 DMMLS
• 2009-10-30 Sold (Public Records) $130,000 Public Records
• 2009-10-30 Sold (MLS) $129,900 DMMLS
• 2009-02-16 Listed $129,900 DMMLS
• 2004-12-23 Listed $151,200 DMMLS

Property tax history

+0.2%/yr

Latest (2025): $3,256 · +2.2% YoY. Source: county tax records.