3960 NE Timber Ln · Ankeny, IA 50021

$234,900

3 bd · 2.5 ba · 1,534 sqft · Townhouse public records · 109 Days on market

Built 2022 Good condition 1,308 sqft lot $153/sqft · 9% below area Est $259k · 9% under $175/mo HOA · 8% 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 +11.7/15.0
• Cash flow +9.5/30.0
• Schools +7.7/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a perfectly located home in Ankeny with an easy commute to Ames or Des Moines? Look no further! This townhome, just minutes off I-35, is exactly what you're looking for. It features 3 bedrooms and 3 bathrooms, including a spacious master bedroom with a walk-in closet and private bath. The kitchen boasts quartz countertops, updated appliances, and a stylish backsplash. Don't forget about the cozy family room with its stunning shiplap fireplace! Don't miss out on this total-package townhome in one of the metro's most popular areas! All information obtained from seller and public records.

Key facts

• Updated appliances
• Quartz countertops
• Stylish backsplash

Tags

• MINUTES OFF I-35
• QUARTZ COUNTERTOPS
• UPDATED APPLIANCES
• STYLISH BACKSPLASH
• SHIPLAP FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-163 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (11.9% below list).
• Recommended offer: $207k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: 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: East Elementary School (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 413 students, 37% 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) — zoned schools average 26% FRL vs 10% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 869 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 109 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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 $206,980 (11.9% 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 109 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.88% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• GRM: 9.5

CMA / ARV

• ARV (median comp): $258,910
• List price: $234,900
• Delta: -9.27%
• 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
103 NE Doe Pointe Ln	0.21mi	3/2.5	1,546 (+1%)	2mo	$269,900	$175	87
4330 NE Spear Ln	0.54mi	3/3.0	1,511 (-2%)	0mo	$219,990	$146	70
4334 NE Spear Ln	0.54mi	3/3.0	1,511 (-2%)	1mo	$214,990	$142	69
4424 NE Spear Ln	0.54mi	3/3.0	1,511 (-2%)	1mo	$226,190	$150	69
4236 NE Timber Ln	0.14mi	4/2.5 (+1)	1,711 (+12%)	1mo	$275,000	$161	68
3110 NE 2nd Ln	0.57mi	3/2.5	1,473 (-4%)	2mo	$216,500	$147	65
234 NE Meadow Ln	0.60mi	3/2.5	1,473 (-4%)	2mo	$232,000	$158	64
601 NE Hart Ln	0.38mi	3/2.5	1,376 (-10%)	2mo	$254,990	$185	64
592 NE Hart Ln	0.41mi	3/2.5	1,376 (-10%)	1mo	$254,990	$185	63
3202 NE 4th Ln	0.54mi	4/3.0 (+1)	1,505 (-2%)	2mo	$383,000	$254	63
596 NE Hart Ln	0.40mi	3/2.5	1,376 (-10%)	2mo	$249,900	$182	62
301 NE Meadow Ln	0.58mi	4/3.0 (+1)	1,509 (-2%)	2mo	$369,000	$245	62

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 · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.20×
• Total profit: $-52,563
• Equity at exit: $35,024

10-year hold

• IRR: -26.7%
• Equity multiple: -0.14×
• Total profit: $-75,294
• Equity at exit: $20,310

Cash invested: $65,772 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 41 active · 24 under contract
• Months of supply: 8.5 mo (12%/mo absorbed)
• Median asking: $244,990 ($178/sqft)
• Median days on market: 169 d
• This list price: 17% of active listings are priced below it
• ARV vs active asking: -5.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50021

• Rents YoY: 0.9%
• Active inventory: 869
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,524/yr
• Insurance: −$98
• HOA: −$175
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-163

Break-even live

Break-even rent $2,276

Max offer price $211,285

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-82	+0% $-163	+5% $-244	+10% $-326
Rent	-10% $-327	-5% $-245	+0% $-163	+5% $-81	+10% $0
Rate	-1.0pp $-45	-0.5pp $-103	base $-163	+0.5pp $-224	+1.0pp $-286

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: $58,725
• Closing costs: $7,047
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 NE 2nd Ln Ankeny, IA	3.0	3.0	1500	$1,900	$1.27	16d	1	0.06mi
4031 NE 5th St Bondurant, IA	4.0	2.5	1620	$2,295	$1.42	16d	1	0.14mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	93d	1	0.22mi
4213 NE 6th St Ankeny, IA	4.0	3.0	1858	$2,295	$1.24	16d	1	0.27mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	15d	1	0.31mi
3212 NE Fawn Ln Ankeny, IA	4.0	3.0	1492	$2,995	$2.01	16d	1	0.51mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	93d	1	0.54mi
3101 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,895	$1.30	16d	1	0.57mi
4331 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	15d	1	0.67mi
1313 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	15d	1	0.68mi
4421 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	15d	1	0.69mi
1333 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	15d	1	0.72mi
1407 NE Crossing Oaks Dr Ankeny, IA	4.0	3.0	1498	$2,995	$2.00	15d	1	0.75mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1756	$2,095	$1.19	15d	1	0.78mi

Listing history 18 events

1. 2026-06-02
   days on market $234,900 Active 109 DOM
2. 2026-06-01
   days on market $234,900 Active 108 DOM
3. 2026-05-31
   days on market $234,900 Active 107 DOM
4. 2026-05-31
   days on market $234,900 Active 106 DOM
5. 2026-03-31
   price $234,900 604-char remark

   Show marketing remark (604 chars)

   Looking for a perfectly located home in Ankeny with an easy commute to Ames or Des Moines? Look no further! This townhome, just minutes off I-35, is exactly what you're looking for. It features 3 bedrooms and 3 bathrooms, including a spacious master bedroom with a walk-in closet and private bath. The kitchen boasts quartz countertops, updated appliances, and a stylish backsplash. Don't forget about the cozy family room with its stunning shiplap fireplace! Don't miss out on this total-package townhome in one of the metro's most popular areas! All information obtained from seller and public records.

6. 2026-03-31
   price $234,900 604-char remark

   Show marketing remark (604 chars)

   Looking for a perfectly located home in Ankeny with an easy commute to Ames or Des Moines? Look no further! This townhome, just minutes off I-35, is exactly what you're looking for. It features 3 bedrooms and 3 bathrooms, including a spacious master bedroom with a walk-in closet and private bath. The kitchen boasts quartz countertops, updated appliances, and a stylish backsplash. Don't forget about the cozy family room with its stunning shiplap fireplace! Don't miss out on this total-package townhome in one of the metro's most popular areas! All information obtained from seller and public records.

7. 2026-02-13
   listed $239,900 Active 604-char remark

   Show marketing remark (604 chars)

   Looking for a perfectly located home in Ankeny with an easy commute to Ames or Des Moines? Look no further! This townhome, just minutes off I-35, is exactly what you're looking for. It features 3 bedrooms and 3 bathrooms, including a spacious master bedroom with a walk-in closet and private bath. The kitchen boasts quartz countertops, updated appliances, and a stylish backsplash. Don't forget about the cozy family room with its stunning shiplap fireplace! Don't miss out on this total-package townhome in one of the metro's most popular areas! All information obtained from seller and public records.

8. 2026-02-13
   listed $239,900 Active 604-char remark

   Show marketing remark (604 chars)

   Looking for a perfectly located home in Ankeny with an easy commute to Ames or Des Moines? Look no further! This townhome, just minutes off I-35, is exactly what you're looking for. It features 3 bedrooms and 3 bathrooms, including a spacious master bedroom with a walk-in closet and private bath. The kitchen boasts quartz countertops, updated appliances, and a stylish backsplash. Don't forget about the cozy family room with its stunning shiplap fireplace! Don't miss out on this total-package townhome in one of the metro's most popular areas! All information obtained from seller and public records.

9. 2025-12-04
   historical
10. 2025-09-03
    price $245,000
11. 2025-08-18
    status Active
12. 2025-08-08
    status Pending
13. 2025-08-01
    listed $250,000 Active
14. 2023-06-01
    soldstatus $240,000 Closed
15. 2023-04-17
    status Pending
16. 2023-04-10
    listed $240,000 Active
17. 2023-01-03
    historical
18. 2022-12-01
    listed $235,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $24,838
• − Mortgage interest: −$13,158
• − Property taxes: −$3,524
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − HOA: −$2,100
• − Depreciation: −$6,833
• Taxable loss: −$5,926
• Est. tax savings @ 24.0%: +$1,422
• After-tax cash flow: $-536/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,670–$23,010 screening

This well-maintained townhouse in Ankeny is move-in ready with good condition and minimal repairs needed.

Value-add opportunities

• Resale paint exterior — enhances curb appeal ↑
• Rental replace ceiling fan — improves energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 77/100

Zoned Schools

Elementary Southeast Elementary School A- IA #181/616 Nat'l #2,792/41,679 Middle Parkview Middle School A+ IA #35/246 Nat'l #292/14,009 High Ankeny High School A IA #30/336 Nat'l #1,058/17,239

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

A Composite livability gradescore 92/100

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 · 548,042 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: 10% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-0.0% since first listed

14 events — show timeline

• 2026-03-31 Price Changed $234,900 CIBOR
• 2026-03-31 Price Changed $234,900 DMMLS
• 2026-02-13 Listed $239,900 DMMLS
• 2026-02-13 Listed $239,900 CIBOR
• 2025-12-04 Listing Removed — DMMLS
• 2025-09-03 Price Changed $245,000 DMMLS
• 2025-08-18 Relisted — DMMLS
• 2025-08-08 Pending — DMMLS
• 2025-08-01 Listed $250,000 DMMLS
• 2023-06-01 Sold (MLS) $240,000 DMMLS
• 2023-04-17 Pending — DMMLS
• 2023-04-10 Listed $240,000 DMMLS
• 2023-01-03 Listing Removed — DMMLS
• 2022-12-01 Listed $235,000 DMMLS