1308 NE 59th Ln · Ankeny, IA 50021

$239,990

3 bd · 2.5 ba · 1,562 sqft · Townhouse public records · 2 Days on market

Built 2024 Good condition 1,430 sqft lot Garage $154/sqft · 5% below area Est $245k · at est. $185/mo HOA · 9% 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 +8.5/15.0
• Schools +8.4/10.0
• Cash flow +7.5/30.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.7/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

* MODEL HOME - NOT FOR SALE * D. R. Horton, America’s Builder, presents the Sydney Townhome located in our Kimberley Crossing community on the North side of Ankeny with easy access to I-35. Calls us for details on how to save THOUSANDS of dollars! This beautiful, new neighborhood is just minutes from North Polk schools, shops, trails & more! ALL APPLIANCES AND WINDOW BLINDS INCLUDED! This Two-Story Townhome boasts 3 Bedrooms, 2.5 Bathrooms, and a 2-Car Garage in a spacious open floorplan. As you enter the Sydney, you’ll be greeted with a beautiful Great Room featuring a cozy fireplace.

Key facts

• Dual vanity sink
• Gourmet kitchen
• Large island

Tags

• GOURMET KITCHEN
• OVERSIZED PANTRY
• LARGE ISLAND
• PRIMARY BEDROOM
• ENSUITE BATHROOM
• DUAL VANITY SINK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-297 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (18.4% below list).
• Recommended offer: $196k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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-.
• North Polk Community School District (rural): math 87% / reading 84% proficiency, ranked #7 of 289 in IA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: North Polk Central Elementary School (math 83% / reading 72%, grade A, #101 of 616 statewide, top 16%, 342 students, 11% FRL); North Polk Middle School (math 85% / reading 87%, grade A+, #8 of 246 statewide, top 3%, 455 students, 10% FRL); North Polk High School (math 88% / reading 89%, grade A, #3 of 336 statewide, top 1%, 647 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents flat; 1128 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $195,820 (18.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.81%
• Cash-on-cash: -5.30%
• DSCR: 0.76
• GRM: 10.2

CMA / ARV

• ARV (median comp): $245,471
• List price: $239,990
• Delta: -2.23%
• 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
1401 NE 59th Ln	0.09mi	3/2.5	1,511 (-3%)	1mo	$244,990	$162	90
5909 NE Seneca Ln	0.11mi	3/2.5	1,511 (-3%)	0mo	$226,990	$150	89
5917 NE Seneca Ln	0.11mi	3/2.5	1,511 (-3%)	1mo	$232,990	$154	88
1421 NE 59th Ln	0.12mi	3/2.5	1,511 (-3%)	1mo	$214,990	$142	88
5718 NE Creek Ridge Dr	0.43mi	2/3.5 (-1)	1,521 (-3%)	2mo	$439,990	$289	65
1058 NE 57th Ln	0.34mi	3/2.5	1,380 (-12%)	3mo	$217,500	$158	63
1004 NE 56th St	0.38mi	3/2.5	1,380 (-12%)	0mo	$220,000	$159	62
5718 NE Dawson Ln	0.38mi	3/2.5	1,380 (-12%)	2mo	$220,000	$159	61
5520 NE Briarwood Dr	0.46mi	3/3.0	1,373 (-12%)	1mo	$354,990	$259	55
1013 NE 58th Ln	0.38mi	2/2.5 (-1)	1,328 (-15%)	3mo	$199,999	$151	50
5516 NE Briarwood Dr	0.47mi	2/2.0 (-1)	1,373 (-12%)	2mo	$350,000	$255	49
5429 NE Briarwood Dr	0.47mi	2/2.0 (-1)	1,341 (-14%)	3mo	$268,000	$200	45

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: -27.9%
• Equity multiple: 0.08×
• Total profit: $-61,647
• Equity at exit: $35,783

10-year hold

• IRR: -38.0%
• Equity multiple: -0.39×
• Total profit: $-93,221
• Equity at exit: $20,750

Cash invested: $67,197 (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 →

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

Active competition Active MLS

• For sale now: 15 active · 39 under contract
• Months of supply: 2.0 mo (50%/mo absorbed)
• Median asking: $236,990 ($159/sqft)
• Median days on market: 73 d
• This list price: 53% of active listings are priced below it
• ARV vs active asking: -1.1% 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: 1128
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$185
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-297

Break-even live

Break-even rent $2,334

Max offer price $197,080

Occupancy floor —

Sensitivity live

Price	-10% $-131	-5% $-214	+0% $-297	+5% $-379	+10% $-462
Rent	-10% $-451	-5% $-374	+0% $-297	+5% $-219	+10% $-142
Rate	-1.0pp $-176	-0.5pp $-235	base $-297	+0.5pp $-359	+1.0pp $-422

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: $59,998
• Closing costs: $7,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 NE 59th Ln Ankeny, IA	3.0	2.5	1511	$1,950	$1.29	1d	1	0.08mi
1405 NE 59th Ln Ankeny, IA	3.0	2.5	1511	$1,950	$1.29	9d	1	0.08mi
1409 NE 59th Ln Ankeny, IA	3.0	2.5	1511	$1,950	$1.29	0d	1	0.08mi
5809 NE Verona Dr Ankeny, IA	4.0	2.5	2053	$2,195	$1.07	51d	1	0.09mi
5806 NE Verona Dr Elkhart, IA	4.0	2.5	2110	$2,195	$1.04	29d	1	0.13mi
1424 NE 56th Ln Ankeny, IA	2.0–3.0	2.5	1658	$2,325	$1.40	0d	7	0.26mi
5711 NE Lowell Ln Ankeny, IA	3.0	3.0	1380	$1,655	$1.20	107d	1	0.34mi
5113 NE Ledgestone Ct Ankeny, IA	4.0	2.5	1470	$2,100	$1.43	0d	1	0.60mi
1005 NE Kamies Ln Ankeny, IA	3.0	2.5	1520	$1,895	$1.25	107d	1	0.87mi
1005 NE Kamies Ln Ankeny, IA	3.0	2.5	1520	$1,725	$1.13	22d	1	0.87mi
4543 NE McDougal Ln Ankeny, IA	3.0	3.5	1520	$1,895	$1.25	107d	1	0.90mi
4612 NE Milligan Ln Ankeny, IA	3.0	2.5	1440	$1,725	$1.20	36d	1	0.91mi
4536 NE McDougal Ln Ankeny, IA	4.0	3.0	1520	$1,895	$1.25	107d	1	0.91mi
211 NE 62nd St Ankeny, IA	3.0	2.5	1707	$2,700	$1.58	10d	1	1.15mi
3921 NE Gardenia Ln Ankeny, IA	2.0	1.5	1300	$1,595	$1.23	184d	1	1.25mi
5016 NE Innsbruck Dr Ankeny, IA	4.0	3.0	1921	$2,595	$1.35	107d	1	1.26mi
3611 NE Otterview Cir Ankeny, IA	1.0–2.0	1.0–2.0	840	$1,775	$2.11	0d	11	1.26mi
2820 NE 38th St Ankeny, IA	1.0–2.0	1.0–2.0	861	$1,800	$2.09	0d	45	1.41mi
110 NE 46th Ln Ankeny, IA	2.0–3.0	2.0	1099	$1,400	$1.27	0d	2	1.47mi

Property features AI

Finance

• HOA & community: Kimberley Crossing HOA, managed by Edge Property ManagementMonthly HOA fee includes grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Utilities: Public waterPublic sewer
• Home design: Two stories
• Construction: New constructionVinyl sidingAsphalt shingle roofPoured slab foundation

Interior

• Kitchen: Dishwasher, microwave, refrigerator, stoveDining areaEat-in kitchen
• Bathrooms: 1 full bathroom1 three-quarter bathroom1 half bathroom
• Heating & cooling: Electric and gas forced-air heatingCentral air conditioning
• Interior features: Electric fireplace
• Laundry & utility: Washer and dryer

Listing history 5 events

1. 2026-11-08
   days on market $239,990 Active 2 DOM
2. 2026-11-07
   statusdays on marketlisting id $239,990 Active 1 DOM
3. 2025-10-15
   price $239,990
4. 2024-10-16
   listed $249,990 Active
5. 2024-10-09
   soldstatus $700,000

ⓘ 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: $23,498
• − Mortgage interest: −$13,443
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − HOA: −$2,220
• − Depreciation: −$6,982
• Taxable loss: −$7,706
• Est. tax savings @ 24.0%: +$1,849
• After-tax cash flow: $-1,709/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 · 3 photos

Good 80/100 None rehab

This model home is in excellent condition with no visible repairs needed. It offers a spacious and modern living space with good curb appeal, making it a strong candidate for both resale and rental markets.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's appeal and value ↑
• Both Landscaping the front yard — A well-maintained front yard can improve curb appeal and rental value ↑

A Composite school gradezoned avg 84/100

Zoned Schools

Elementary North Polk Central Elementary School A IA #101/616 Nat'l #1,614/41,679 Middle North Polk Middle School A+ IA #8/246 Nat'l #104/14,009 High North Polk High School A IA #3/336 Nat'l #508/17,239

Schools (NCES district)

• District: North Polk Community School District
• NCES district ID: 1920910
• Math proficiency: 87% ▼ -2.00%
• Reading proficiency: 84% ▼ -3.00%
• Median HH income: $80,205
• Composite: 75.13/100
• National rank: #140
• State rank: #7 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%
• 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

Property features AI

Finance

• HOA & community: Kimberley Crossing HOA, managed by Edge Property ManagementMonthly HOA fee includes grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Utilities: Public waterPublic sewer
• Home design: Two stories
• Construction: New constructionVinyl sidingAsphalt shingle roofPoured slab foundation

Interior

• Kitchen: Dishwasher, microwave, refrigerator, stoveDining areaEat-in kitchen
• Bathrooms: 1 full bathroom1 three-quarter bathroom1 half bathroom
• Heating & cooling: Electric and gas forced-air heatingCentral air conditioning
• Interior features: Electric fireplace
• Laundry & utility: Washer and dryer

Price history

-65.7% since first listed

4 events — show timeline

• 2026-11-06 Listed $239,990 DMMLS
• 2025-10-15 Price Changed $239,990 DMMLS
• 2024-10-16 Listed $249,990 DMMLS
• 2024-10-09 Sold (Public Records) $700,000 Public Records