3003 SW White Birch Dr · Ankeny, IA 50023

$219,900

3 bd · 2.5 ba · 1,380 sqft · SingleFamily public records · 61 Days on market

Built 2005 1,056 sqft lot $159/sqft · 30% below area Est $315k · 30% under $265/mo HOA · 16% 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 +15.0/15.0
• Schools +7.1/10.0
• Cash flow +5.5/30.0
• Livability +4.6/5.0
• Rent growth +2.7/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Super Nice area in Ankeny, Huge Living room! 2 car attached garage under unit. Nice big Deck and open Kitchen and Living room. Corner lot so lots of yard space. 2 Nice size bathrooms by the bedrooms.

Key facts

• Deck
• Open kitchen
• Corner lot

Tags

• DECK
• OPEN KITCHEN
• CORNER LOT
• YARD SPACE

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• HOA & community: Homeowners association (White Birch Townhomes HOA) with monthly fee of $265; Association managed by Sentry Management; HOA fee covers grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Concrete road access
• Home design: Two-story; Cement siding; Asphalt shingle roof; Block foundation; Zoned R
• Construction: Cement siding construction; Block foundation; Asphalt shingle roof
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Stove; Microwave; Refrigerator; Freezer
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (electric and gas); Central air conditioning
• Interior features: Dining area; Partial basement; Gas log fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-470 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (24.5% below list).
• Recommended offer: $137k (37.8% below list) — sets the bar for cash-flow.
• Cap rate 3.7% vs local median 3.0% in Ankeny — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Crocker Elementary School (math 88% / reading 76%, grade A+, #44 of 616 statewide, top 9%, 500 students, 19% FRL); Parkview Middle School (math 76% / reading 83%, grade A+, #35 of 246 statewide, top 16%, 867 students, 23% FRL); Ankeny High School (math 77% / reading 84%, grade A, #30 of 336 statewide, top 9%, 1,347 students, 20% FRL).
• Market conditions: Rents flat; 498 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 17% of the median local income ($118k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 61 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $141k; list at $220k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $136,878 (37.8% 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 61 days. Have you received any prior offers? Is the seller open to a 38% 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: 0.75% ✗
• Cap rate: 3.73%
• Cash-on-cash: -9.16%
• DSCR: 0.59
• GRM: 11.0

CMA / ARV

• ARV (median comp): $315,012
• List price: $219,900
• Delta: -30.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2523 SW 31st St	0.49mi	3/2.5	1,405 (+2%)	2mo	$325,000	$231	73
2506 SW 31st St	0.44mi	3/2.5	1,470 (+6%)	0mo	$300,000	$204	68
2617 SW 32nd St	0.57mi	3/2.5	1,405 (+2%)	3mo	$302,000	$215	68
3105 SW Townpark Dr	0.60mi	3/2.5	1,419 (+3%)	2mo	$303,000	$214	66
3213 SW Townpark Cir	0.64mi	3/2.5	1,367 (-1%)	4mo	$280,000	$205	66
2814 SW Homestead Cir	0.64mi	3/2.0	1,405 (+2%)	2mo	$310,000	$221	64
2821 SW Homestead Cir	0.66mi	3/1.5	1,367 (-1%)	2mo	$317,500	$232	62
2522 SW 32nd St	0.50mi	4/2.5 (+1)	1,462 (+6%)	2mo	$317,500	$217	60
1118 SW Ankeny Rd	0.63mi	3/2.5	1,288 (-7%)	1mo	$332,000	$258	58
2813 SW Tradition Cir	0.64mi	3/2.5	1,464 (+6%)	2mo	$268,500	$183	58
2822 SW Homestead Cir	0.66mi	3/2.5	1,520 (+10%)	2mo	$318,000	$209	50
2806 SW Homestead Cir	0.62mi	3/1.5	1,187 (-14%)	1mo	$300,000	$253	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -35.6%
• Equity multiple: -0.12×
• Total profit: $-69,055
• Equity at exit: $32,788

10-year hold

• IRR: -68.7%
• Equity multiple: -0.82×
• Total profit: $-112,335
• Equity at exit: $19,013

Cash invested: $61,572 (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 50023

• Rents YoY: 0.8%
• Active inventory: 498
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$271 /mo · $3,256/yr
• Insurance: −$92
• HOA: −$265
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-470

Break-even live

Break-even rent $2,255

Max offer price $136,878

Occupancy floor —

Sensitivity live

Price	-10% $-345	-5% $-408	+0% $-470	+5% $-532	+10% $-594
Rent	-10% $-601	-5% $-536	+0% $-470	+5% $-404	+10% $-339
Rate	-1.0pp $-359	-0.5pp $-414	base $-470	+0.5pp $-527	+1.0pp $-585

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3011 SW Sharmin Ln Ankeny, IA	2.0	2.0	1056	$1,440	$1.36	45d	1	0.11mi
3044 SW Sharmin Ln Ankeny, IA	2.0	2.0	1056	$1,475	$1.40	45d	1	0.11mi
3181 SW Sharmin Ln Ankeny, IA	2.0	2.0	1056	$1,495	$1.42	16d	1	0.22mi
2333 SW Plaza Pkwy Ankeny, IA	2.0	1.0–2.0	886	$1,740	$1.96	16d	16	0.45mi
1210 SW 28th St Ankeny, IA	1.0–3.0	1.0–3.0	962	$1,950	$2.03	16d	20	0.50mi
905 SW 28th St Ankeny, IA	1.0–3.0	1.0–2.0	988	$1,760	$1.78	16d	13	0.61mi
1155 SW Prairie Trail Pkwy Ankeny, IA	1.0–2.0	1.0–2.0	837	$1,900	$2.27	16d	69	0.95mi
1205 SW Merchant St Ankeny, IA	1.0–2.0	1.0–2.0	874	$2,025	$2.32	16d	11	0.99mi
205 SW 48th St Ankeny, IA	4.0	3.0	1484	$2,295	$1.55	45d	1	1.31mi
1010 SW Magazine Rd Ankeny, IA	1.0–2.0	1.0–2.0	1080	$3,015	$2.79	16d	56	1.32mi
1370 SW Radcliffe Ln Ankeny, IA	2.0	2.0	1457	$2,027	$1.39	16d	11	1.49mi

HOA detail

• Monthly dues: $265 · $3,180/yr

Listing history 23 events

1. 2026-06-21
   days on market $219,900 Active 61 DOM
2. 2026-06-18
   days on market $219,900 Active 58 DOM
3. 2026-06-17
   days on market $219,900 Active 57 DOM
4. 2026-06-16
   days on market $219,900 Active 56 DOM
5. 2026-06-15
   days on market $219,900 Active 55 DOM
6. 2026-06-14
   days on market $219,900 Active 53 DOM
7. 2026-06-13
   days on market $219,900 Active 52 DOM
8. 2026-06-10
   days on market $219,900 Active 50 DOM
9. 2026-06-09
   days on market $219,900 Active 49 DOM
10. 2026-06-08
    days on market $219,900 Active 48 DOM
11. 2026-06-07
    days on market $219,900 Active 47 DOM
12. 2026-06-03
    days on market $219,900 Active 43 DOM
13. 2026-06-02
    days on market $219,900 Active 42 DOM
14. 2026-06-01
    days on market $219,900 Active 41 DOM
15. 2026-05-31
    days on market $219,900 Active 40 DOM
16. 2026-05-31
    days on market $219,900 Active 39 DOM
17. 2026-04-21
    listed $225,000 Active 199-char remark
18. 2026-01-31
    historical
19. 2025-11-03
    price $225,000
20. 2025-10-23
    price $230,000
21. 2025-09-30
    listed $235,000 Active
22. 2006-01-05
    soldstatus $141,000
23. 2005-10-27
    listed $139,900

ⓘ 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: $3,354 · $280/mo
• Expected delta: +$98/yr (+$8/mo · 3.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $19,917
• − Mortgage interest: −$12,318
• − Property taxes: −$3,256
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − HOA: −$3,180
• − Depreciation: −$6,397
• Taxable loss: −$9,521
• Est. tax savings @ 24.0%: +$2,285
• After-tax cash flow: $-3,355/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): 46,306
• Household income: $117,826
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 617.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 4% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -135.67%
• Current HPI: 215.1034
• Rent YoY: ▲ 0.75%
• 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

+57.2% since first listed

8 events — show timeline

• 2026-05-22 Price Changed $219,900 DMMLS
• 2026-04-21 Listed $225,000 DMMLS
• 2026-01-31 Listing Removed — DMMLS
• 2025-11-03 Price Changed $225,000 DMMLS
• 2025-10-23 Price Changed $230,000 DMMLS
• 2025-09-30 Listed $235,000 DMMLS
• 2006-01-05 Sold (Public Records) $141,000 Public Records
• 2005-10-27 Listed $139,900 DMMLS

Property tax history

+0.9%/yr

Latest (2025): $3,256 · +2.1% YoY. Source: county tax records.