2431 SE Four Seasons Dr · Ankeny, IA 50021

$62,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 6 Days on market

Built 2026

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Why this score? — see what drove the B 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained three bedroom two bathroom manufactured home located in the desirable Autumn Ridge community in Ankeny Iowa. Offering a comfortable and functional layout this home provides the perfect blend of space convenience and affordability. Step inside to find a bright and inviting living area filled with natural light creating a warm and welcoming atmosphere for both everyday living and entertaining. The spacious kitchen features ample cabinetry generous counter space and a convenient dining area ideal for meals gatherings and everyday enjoyment. The primary suite serves as a private retreat complete with an en suite bathroom and plenty of closet space. Tw

Key facts

• Bright living area
• Ample cabinetry
• Spacious kitchen

Tags

• AUTUMN RIDGE COMMUNITY
• BRIGHT LIVING AREA
• SPACIOUS KITCHEN
• AMPLE CABINETRY
• GENEROUS COUNTER SPACE
• PRIVATE RETREAT

Property features AI

Finance

• Financial info: List price $62,900

Exterior

• Home design: Single-section plan (3 Bed 2 Bath single section)
• Construction: Living area approximately 1,216; Spec inventory (new construction)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Dishwasher; Disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $63k.

Deal economics

• At list price, monthly cash flow is $800 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• Cap rate 21.6% vs local median 2.9% 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: schools A+, amenities A+, employment 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.
• Market conditions: Rents flat; 708 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $435 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $62,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.49% ✓
• Cap rate: 21.56%
• Cash-on-cash: 54.52%
• DSCR: 3.43
• GRM: 3.4

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: 50.4%
• Equity multiple: 3.13×
• Total profit: $37,589
• Equity at exit: $9,379

10-year hold

• IRR: 54.9%
• Equity multiple: 5.87×
• Total profit: $85,837
• Equity at exit: $5,438

Cash invested: $17,612 (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: 708
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$330
• Tax est. 1.5%: −$79 /mo · $944/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $800

Break-even live

Break-even rent $550

Max offer price $62,900

Occupancy floor 44%

Sensitivity live

Price	-10% $844	-5% $822	+0% $800	+5% $778	+10% $757
Rent	-10% $677	-5% $738	+0% $800	+5% $862	+10% $924
Rate	-1.0pp $832	-0.5pp $816	base $800	+0.5pp $784	+1.0pp $767

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2131 Windover Dr Unit B20 Ankeny, IA	3.0	2.0	1216	$1,449	$1.19	15d	1	0.18mi
2130 Four Seasons Dr Unit 36 Ankeny, IA	3.0	2.0	1408	$1,479	$1.05	24d	1	0.25mi
2001 Summer Park Dr Unit 140 Ankeny, IA	3.0	2.0	1196	$1,549	$1.30	24d	1	0.31mi
1961 Four Seasons Dr Unit 172 Ankeny, IA	3.0	2.0	1216	$1,449	$1.19	44d	1	0.32mi
905 SW 28th St Ankeny, IA	1.0–3.0	1.0–2.0	988	$1,760	$1.78	15d	13	1.02mi
205 SW 48th St Ankeny, IA	4.0	3.0	1484	$2,295	$1.55	44d	1	1.05mi
1102 SE Belmont Dr Ankeny, IA	2.0	1.0	850	$995	$1.17	44d	1	1.07mi
548 SW Heritage Ln Ankeny, IA	3.0	2.5	1500	$800	$0.53	24d	1	1.10mi
1210 SW 28th St Ankeny, IA	1.0–3.0	1.0–3.0	962	$1,950	$2.03	15d	20	1.13mi
1155 SW Prairie Trail Pkwy Ankeny, IA	1.0–2.0	1.0–2.0	837	$1,900	$2.27	15d	69	1.17mi
1205 SW Merchant St Ankeny, IA	1.0–2.0	1.0–2.0	874	$2,025	$2.32	15d	11	1.23mi
1010 SW Magazine Rd Ankeny, IA	1.0–2.0	1.0–2.0	1080	$3,015	$2.79	15d	56	1.39mi
602 SE Grant St Unit 06 Ankeny, IA	2.0	1.0	792	$825	$1.04	20d	1	1.50mi
602 SE Grant St Apt 3 Ankeny, IA	2.0	1.0	792	$825	$1.04	44d	1	1.50mi

Listing history 6 events

1. 2026-06-18
   days on market $62,900 Active 6 DOM
2. 2026-06-17
   days on market $62,900 Active 5 DOM
3. 2026-06-16
   days on market $62,900 Active 4 DOM
4. 2026-06-15
   days on market $62,900 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $62,900 Active 1 DOM

ⓘ 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: $18,757
• − Mortgage interest: −$3,523
• − Property taxes: −$944
• − Insurance: −$314
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$1,830
• Taxable income: $9,145
• Est. tax owed @ 24.0%: −$2,195
• After-tax cash flow: $7,407/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