3901 NE 6th St · Ankeny, IA 50021

$294,900

3 bd · 2.5 ba · 1,400 sqft · SingleFamily public records · 3 Days on market

Built 2022 5,170 sqft lot $211/sqft · 12% below area Est $334k · 12% under $13/mo HOA · 1% 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 +12.8/15.0
• Cash flow +7.4/30.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Destiny Homes presents their Union floor plan. This two story plan features 3 bedrooms, 2 baths, and over 1300 square feet of finished space. The open concept living area hosts the dining, kitchen, and living room. The kitchen sits at the front of the home featuring quartz countertops, stainless steel appliances, and island. The kitchen opens up to the large living room with large picture windows and an electric fireplace. The staircase at the back of the home leads to the three bedrooms upstairs, 2 baths, and laundry. Owner's suite features a large walk-in closet, oversized vanity and shower. Ask about $2,000 in closing costs provided by a preferred lender. 3/23/2022 Predig.

Key facts

• Quartz countertops
• Electric fireplace
• Large walk in closet

Tags

• OPEN CONCEPT MAIN LEVEL
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CENTER ISLAND WITH BAR SEATING
• ELECTRIC FIREPLACE
• LARGE WALK IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association (Crossings at Deer Creek) managed by Sentry Mgmt; HOA fee $150 annually

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story home; Vinyl siding exterior; Poured foundation
• Construction: Built by GENESIS HOMES INC; Asphalt shingle roof
• Exterior features: Asphalt road access; PUD zoning; Lot dimensions 47 x 110

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfinished basement; Electric fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-378 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (28.2% below list).
• Recommended offer: $212k (28.2% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.0% 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; 712 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $9k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $211,719 (28.2% 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: 0.72% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

• ARV (median comp): $333,863
• List price: $294,900
• Delta: -10.15%
• 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
4223 NE 3rd St	0.23mi	3/2.0	1,408 (+1%)	0mo	$344,990	$245	86
4307 NE 3rd St	0.23mi	3/3.0	1,373 (-2%)	1mo	$384,900	$280	83
4208 NE 5th St	0.23mi	3/2.0	1,435 (+2%)	1mo	$334,990	$233	82
4116 NE 5th St	0.20mi	3/2.0	1,474 (+5%)	1mo	$339,990	$231	78
715 NE Whitetail Dr	0.13mi	3/3.0	1,211 (-14%)	1mo	$345,000	$285	68
3517 NE Winding Trail Dr	0.34mi	3/2.5	1,560 (+11%)	0mo	$356,000	$228	65
4216 NE 11th St	0.35mi	4/3.0 (+1)	1,498 (+7%)	0mo	$360,000	$240	65
4407 NE 8th St	0.26mi	3/2.0	1,577 (+13%)	0mo	$384,990	$244	64
4209 NE 12th St	0.37mi	4/3.0 (+1)	1,498 (+7%)	0mo	$36,990	$25	64
1332 NE Country Meadow Dr	0.49mi	3/2.5	1,511 (+8%)	1mo	$264,990	$175	63
3217 NE 4th Ln	0.44mi	4/3.0 (+1)	1,505 (+8%)	0mo	$360,000	$239	60
4221 NE 16th St	0.61mi	4/3.0 (+1)	1,495 (+7%)	1mo	$342,000	$229	52

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: -28.0%
• Equity multiple: 0.08×
• Total profit: $-76,188
• Equity at exit: $43,971

10-year hold

• IRR: -37.0%
• Equity multiple: -0.38×
• Total profit: $-114,299
• Equity at exit: $25,498

Cash invested: $82,572 (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 50021

• Rents YoY: 0.9%
• Active inventory: 712
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,117 medium
• Mortgage (P&I): −$1,546
• Tax est. 1.5%: −$369 /mo · $4,424/yr
• Insurance: −$123
• HOA: −$13
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-378

Break-even live

Break-even rent $2,596

Max offer price $240,145

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-277	+0% $-378	+5% $-480	+10% $-582
Rent	-10% $-546	-5% $-462	+0% $-378	+5% $-295	+10% $-211
Rate	-1.0pp $-230	-0.5pp $-303	base $-378	+0.5pp $-455	+1.0pp $-533

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	45d	1	0.02mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	45d	1	0.38mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	16d	1	0.39mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	16d	1	0.60mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: electric

Listing history 24 events

1. 2026-06-21
   days on market $294,900 Active 3 DOM
2. 2026-06-18
   remarks 681-char remark
3. 2026-06-18
   pricedays on marketlisting id $294,900 Active 1 DOM
4. 2026-06-10
   days on market $299,990 Active 37 DOM
5. 2026-06-09
   days on market $299,990 Active 36 DOM
6. 2026-06-08
   days on market $299,990 Active 35 DOM
7. 2026-06-07
   days on market $299,990 Active 34 DOM
8. 2026-06-03
   days on market $299,990 Active 30 DOM
9. 2026-06-02
   days on market $299,990 Active 29 DOM
10. 2026-06-01
    days on market $299,990 Active 28 DOM
11. 2026-05-31
    days on market $299,990 Active 27 DOM
12. 2026-05-31
    days on market $299,990 Active 26 DOM
13. 2026-05-04
    listed $299,990 Active 984-char remark
14. 2024-04-23
    historical $1,995
15. 2024-04-17
    price $1,995
16. 2024-04-10
    listed $2,095
17. 2024-04-10
    historical $2,095
18. 2024-03-13
    listed $2,095
19. 2023-10-16
    historical $2,095
20. 2023-09-15
    price $2,095
21. 2023-09-07
    listed $2,195
22. 2022-07-22
    soldstatus $290,000 Closed 684-char remark

    Show marketing remark (684 chars)

    Destiny Homes presents their Union floor plan. This two story plan features 3 bedrooms, 2 baths, and over 1300 square feet of finished space. The open concept living area hosts the dining, kitchen, and living room. The kitchen sits at the front of the home featuring quartz countertops, stainless steel appliances, and island. The kitchen opens up to the large living room with large picture windows and an electric fireplace. The staircase at the back of the home leads to the three bedrooms upstairs, 2 baths, and laundry. Owner's suite features a large walk-in closet, oversized vanity and shower. Ask about $2,000 in closing costs provided by a preferred lender. 3/23/2022 Predig.

23. 2022-03-30
    status Pending 684-char remark

    Show marketing remark (684 chars)

    Destiny Homes presents their Union floor plan. This two story plan features 3 bedrooms, 2 baths, and over 1300 square feet of finished space. The open concept living area hosts the dining, kitchen, and living room. The kitchen sits at the front of the home featuring quartz countertops, stainless steel appliances, and island. The kitchen opens up to the large living room with large picture windows and an electric fireplace. The staircase at the back of the home leads to the three bedrooms upstairs, 2 baths, and laundry. Owner's suite features a large walk-in closet, oversized vanity and shower. Ask about $2,000 in closing costs provided by a preferred lender. 3/23/2022 Predig.

24. 2022-03-23
    listed $290,000 Active 684-char remark

    Show marketing remark (684 chars)

    Destiny Homes presents their Union floor plan. This two story plan features 3 bedrooms, 2 baths, and over 1300 square feet of finished space. The open concept living area hosts the dining, kitchen, and living room. The kitchen sits at the front of the home featuring quartz countertops, stainless steel appliances, and island. The kitchen opens up to the large living room with large picture windows and an electric fireplace. The staircase at the back of the home leads to the three bedrooms upstairs, 2 baths, and laundry. Owner's suite features a large walk-in closet, oversized vanity and shower. Ask about $2,000 in closing costs provided by a preferred lender. 3/23/2022 Predig.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $25,406
• − Mortgage interest: −$16,519
• − Property taxes: −$4,424
• − Insurance: −$1,474
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − HOA: −$156
• − Depreciation: −$8,579
• Taxable loss: −$9,811
• Est. tax savings @ 24.0%: +$2,355
• After-tax cash flow: $-2,186/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

Price history

+3.4% since first listed

5 events — show timeline

• 2026-06-10 Listing Removed — DMMLS
• 2026-05-04 Listed $299,990 DMMLS
• 2022-07-22 Sold (MLS) $290,000 DMMLS
• 2022-03-30 Pending — DMMLS
• 2022-03-23 Listed $290,000 DMMLS