600 NE Hart Ln · Ankeny, IA 50021

$244,990

3 bd · 2.5 ba · 1,376 sqft · Townhouse · 215 Days on market

Built 2026 Good condition 1,240 sqft lot $178/sqft · 29% below area Est $346k · 29% under $175/mo HOA · 9% of rent ↓ 2% since listing

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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
• Cash flow +7.7/30.0
• Schools +7.7/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.7/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Builder incentive package for the first 5 units sold! This promotion includes full white vinyl blinds, one year of pre-paid HOA dues, and closing costs paid with preferred lender. Offers must be non-contingent and scheduled to close within 60 days of the agreement. Welcome to quality, affordable living at Deer Creek rowhomes, just minutes from the interstate and all Ankeny has to offer. Open concept main floor features a spacious great room with electric fireplace and half bath. Large black framed windows offer tons of natural light. Kitchen has LVP flooring, an abundance of cabinetry, quartz countertops, and island plus a dining area. Fridge, stove, dishwasher, microwave, washer and dryer all included! Upstairs in the Everly plan is a separate laundry room, 2 bathrooms and 3 bedrooms. Working at home? Easy for a bedroom to function as your private office space or gym. Primary suite complete with walk in closet and bathroom with shower. Attached 2 car garage, landscaping, open patio for your outdoor enjoyment. No more yard work or snow shoveling, exterior maintenance/ lawn care is provided for you. Irrigation and trash is included in monthly HOA dues. Mi- Fiber internet. Home warranty included. Excellent Ankeny schools. Jerry's Homes is a local builder and has been building homes since 1957.

Key facts

• Quartz countertops
• Electric fireplace
• $175 HOA

Tags

• OPEN CONCEPT MAIN FLOOR
• ELECTRIC FIREPLACE
• LARGE BLACK FRAMED WINDOWS
• ABUNDANCE OF CABINETRY
• QUARTZ COUNTERTOPS
• SEPARATE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (18.3% below list).
• Recommended offer: $200k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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; 992 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 215 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $200,037 (18.3% 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 215 days. Have you received any prior offers? Is the seller open to a 18% 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: 0.82% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 10.2

CMA / ARV

• ARV (median comp): $346,133
• List price: $244,990
• Delta: -29.22%
• 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
593 Hart Ln	0.04mi	3/2.5	1,376 (0%)	1mo	$249,990	$182	97
601 NE Hart Ln	0.00mi	3/2.5	1,376 (0%)	3mo	$254,990	$185	97
592 NE Hart Ln	0.03mi	3/2.5	1,376 (0%)	3mo	$254,990	$185	96
596 NE Hart Ln	0.02mi	3/2.5	1,376 (0%)	4mo	$249,900	$182	96
3112 NE Chandler Ln	0.37mi	3/2.5	1,473 (+7%)	1mo	$226,000	$153	70
234 NE Meadow Ln	0.40mi	3/2.5	1,473 (+7%)	3mo	$232,000	$158	67
3202 NE 4th Ln	0.29mi	4/3.0 (+1)	1,505 (+9%)	4mo	$383,000	$254	61
4341 NE Spear Ln	0.52mi	3/3.0	1,511 (+10%)	1mo	$217,990	$144	57
4330 NE Spear Ln	0.52mi	3/3.0	1,511 (+10%)	2mo	$219,990	$146	56
4424 NE Spear Ln	0.52mi	3/3.0	1,511 (+10%)	3mo	$226,190	$150	55
4334 NE Spear Ln	0.52mi	3/3.0	1,511 (+10%)	3mo	$214,990	$142	55
4325 NE Spear Ln	0.75mi	3/3.0	1,511 (+10%)	1mo	$239,990	$159	46

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: -27.4%
• Equity multiple: 0.10×
• Total profit: $-61,991
• Equity at exit: $36,529

10-year hold

• IRR: -36.4%
• Equity multiple: -0.36×
• Total profit: $-93,165
• Equity at exit: $21,182

Cash invested: $68,597 (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: 44 active · 25 under contract
• Months of supply: 8.8 mo (11%/mo absorbed)
• Median asking: $244,990 ($175/sqft)
• Median days on market: 142 d
• This list price: 45% of active listings are priced below it
• ARV vs active asking: +43.4% above 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: 992
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,000 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$175
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-288

Break-even live

Break-even rent $2,365

Max offer price $203,348

Occupancy floor —

Sensitivity live

Price	-10% $-118	-5% $-203	+0% $-288	+5% $-372	+10% $-457
Rent	-10% $-446	-5% $-367	+0% $-288	+5% $-209	+10% $-130
Rate	-1.0pp $-164	-0.5pp $-225	base $-288	+0.5pp $-351	+1.0pp $-416

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: $61,248
• Closing costs: $7,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 NE Hunter Dr Ankeny, IA	4.0	3.0	1621	$2,145	$1.32	6d	1	0.06mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	139d	1	0.20mi
3905 NE 6th St Ankeny, IA	4.0	3.0	1796	$2,295	$1.28	6d	1	0.23mi
4009 NE 6th St Ankeny, IA	3.0	3.0	1800	$2,095	$1.16	6d	1	0.30mi
3212 NE Fawn Ln Ankeny, IA	4.0	3.0	1492	$2,995	$2.01	62d	1	0.32mi
4026 NE 5th St Ankeny, IA	4.0	2.5	1620	$2,095	$1.29	6d	1	0.33mi
4031 NE 5th St Ankeny, IA	4.0	2.5	1620	$2,095	$1.29	6d	1	0.35mi
3106 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,825	$1.25	6d	1	0.43mi
4005 NE 2nd Ln Ankeny, IA	3.0	3.0	1500	$1,750	$1.17	3d	1	0.43mi
3101 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,895	$1.30	62d	1	0.44mi
4213 NE 6th St Ankeny, IA	4.0	3.0	1858	$2,295	$1.24	62d	1	0.49mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	139d	1	0.50mi
4331 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	61d	1	0.61mi
4416 NE Timber Ln Ankeny, IA	4.0	2.5	1709	$1,995	$1.17	0d	1	0.61mi
4421 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	61d	1	0.65mi
1313 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	61d	1	0.66mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1756	$2,095	$1.19	0d	1	0.67mi
1333 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	61d	1	0.68mi
1407 NE Crossing Oaks Dr Ankeny, IA	4.0	3.0	1498	$2,995	$2.00	61d	1	0.70mi
4428 NE 16th St Ankeny, IA	4.0	3.0	1498	$2,095	$1.40	0d	1	0.77mi
1631 NE Crossing Oaks Ln Ankeny, IA	3.0	2.5	1562	$1,850	$1.18	0d	1	0.81mi
1207 NE 5th Ln Ankeny, IA	2.0	2.0	1214	$1,050	$0.86	6d	1	1.34mi
1207 NE 5th Ln Unit C11 Ankeny, IA	3.0	2.0	1214	$1,425	$1.17	62d	1	1.34mi
1219 NE Windsor Dr Unit 1219-208 Ankeny, IA	2.0	2.0	1091	$1,350	$1.24	140d	1	1.39mi
1143 NE 8th Ln Ankeny, IA	2.0	2.5	1106	$1,420	$1.28	6d	1	1.40mi
1108 NE 7th Ln Ankeny, IA	2.0	3.0	1106	$1,450	$1.31	62d	1	1.43mi
1108 NE 7th Ln Ankeny, IA	2.0	3.0	1106	$1,345	$1.22	6d	1	1.43mi
1201 NE Windsor Dr Ankeny, IA	2.0	2.0	1091	$1,350	$1.24	6d	2	1.44mi
1211 NE Windsor Dr #208 Ankeny, IA	2.0	2.0	1048	$995	$0.95	139d	1	1.44mi
415 NE Delaware Ave Ankeny, IA	1.0–3.0	1.0–2.0	776	$1,400	$1.80	0d	15	1.45mi

HOA detail $175/mo · $2,100/yr

• Likely covers: trashelectricinternetlandscapingexterior maint.gym

Listing history 50 events

1. 2026-09-23
   days on market $244,990 Active 215 DOM
2. 2026-09-22
   days on market $244,990 Active 214 DOM
3. 2026-09-21
   days on market $244,990 Active 213 DOM
4. 2026-09-20
   days on market $244,990 Active 212 DOM
5. 2026-09-19
   days on market $244,990 Active 211 DOM
6. 2026-09-18
   days on market $244,990 Active 210 DOM
7. 2026-09-17
   days on market $244,990 Active 209 DOM
8. 2026-09-16
   days on market $244,990 Active 208 DOM
9. 2026-09-15
   days on market $244,990 Active 207 DOM
10. 2026-09-14
    days on market $244,990 Active 206 DOM
11. 2026-09-13
    days on market $244,990 Active 205 DOM
12. 2026-09-12
    days on market $244,990 Active 204 DOM
13. 2026-09-11
    days on market $244,990 Active 203 DOM
14. 2026-09-05
    days on market $244,990 Active 197 DOM
15. 2026-09-04
    days on market $244,990 Active 196 DOM
16. 2026-09-03
    days on market $244,990 Active 195 DOM
17. 2026-08-31
    days on market $244,990 Active 192 DOM
18. 2026-08-30
    days on market $244,990 Active 191 DOM
19. 2026-08-29
    days on market $244,990 Active 190 DOM
20. 2026-08-28
    days on market $244,990 Active 189 DOM
21. 2026-08-27
    days on market $244,990 Active 188 DOM
22. 2026-08-26
    days on market $244,990 Active 187 DOM
23. 2026-08-25
    days on market $244,990 Active 186 DOM
24. 2026-08-24
    days on market $244,990 Active 185 DOM
25. 2026-08-23
    days on market $244,990 Active 184 DOM
26. 2026-08-22
    days on market $244,990 Active 183 DOM
27. 2026-08-21
    days on market $244,990 Active 182 DOM
28. 2026-08-20
    days on market $244,990 Active 181 DOM
29. 2026-08-19
    days on market $244,990 Active 180 DOM
30. 2026-08-18
    days on market $244,990 Active 179 DOM
31. 2026-08-17
    days on market $244,990 Active 178 DOM
32. 2026-08-16
    days on market $244,990 Active 177 DOM
33. 2026-08-15
    days on market $244,990 Active 176 DOM
34. 2026-08-15
    days on market $244,990 Active 175 DOM
35. 2026-08-13
    days on market $244,990 Active 174 DOM
36. 2026-08-12
    days on market $244,990 Active 173 DOM
37. 2026-08-11
    days on market $244,990 Active 172 DOM
38. 2026-08-10
    days on market $244,990 Active 171 DOM
39. 2026-08-09
    days on market $244,990 Active 170 DOM
40. 2026-08-08
    days on market $244,990 Active 169 DOM
41. 2026-08-07
    days on market $244,990 Active 168 DOM
42. 2026-08-06
    days on market $244,990 Active 167 DOM
43. 2026-08-05
    days on market $244,990 Active 166 DOM
44. 2026-08-04
    days on market $244,990 Active 165 DOM
45. 2026-08-03
    days on market $244,990 Active 164 DOM
46. 2026-07-31
    days on market $244,990 Active 161 DOM
47. 2026-07-30
    days on market $244,990 Active 160 DOM
48. 2026-07-29
    days on market $244,990 Active 159 DOM
49. 2026-07-27
    days on market $244,990 Active 157 DOM
50. 2026-07-25
    days on market $244,990 Active 155 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: $24,004
• − Mortgage interest: −$13,723
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$2,100
• − Depreciation: −$7,127
• Taxable loss: −$7,686
• Est. tax savings @ 24.0%: +$1,845
• After-tax cash flow: $-1,609/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 None rehab

This well-maintained rowhome is move-in ready with a good condition score and minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the flooring in the bathrooms — Replacing dated flooring with modern options can improve both resale and rental value ↑
• Both Adding smart home features — Smart home technology can increase both resale and rental appeal ↑

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

-2.0% since first listed

2 events — show timeline

• 2026-03-25 Price Changed $249,990 DMMLS
• 2026-02-20 Listed $254,990 DMMLS