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5718 NE Dawson Ln
D- Composite 39.8
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 +10.7/15.0
  • Schools +8.4/10.0
  • Cash flow +6.2/30.0
  • Livability +4.6/5.0
  • Condition / age +4.0/5.0
  • 1% rule +2.7/10.0
  • Rent growth +2.7/5.0
  • DSCR +0.5/10.0
  • Appreciation +0.0/10.0

$229,000

5718 NE Dawson Ln · Ankeny, IA 50021
3 bd · 2.5 ba · 1,380 sqft · Townhouse public records · 116 Days on market
Built 2021 Good condition 6,292 sqft lot 2-car garage $166/sqft · 7% below area Est $247k · 7% under $160/mo HOA · 9% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

24hr Sale

Key facts

  • $160 HOA
  • 2 garage spots
  • Built 2021

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.5-bath townhouse listed at $229k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-420 ($-5k/yr) — negative.
  • To cash-flow at today's rent, offer at most $155k (32.4% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (23.2% below list).
  • Recommended offer: $155k (32.4% below list) — sets the bar for cash-flow.
  • Cap rate 4.1% 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; 869 active listings in the ZIP; 23 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 116 days — a 9% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
  • 3 sale attempts since 5y 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 $154,812 (32.4% 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. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 32% 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
0.77%
Cap rate
4.09%
Cash-on-cash
-7.86%
DSCR
0.65
GRM
10.8

CMA / ARV

ARV (median comp)
$246,572
List price
$229,000
Delta
-5.71%
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
1013 NE 58th Ln 0.04mi 2/2.5 (-1) 1,328 (-4%) 0mo $199,999 $151 87
1018 NE 57th Ln 0.06mi 2/2.5 (-1) 1,331 (-4%) 1mo $207,900 $156 86
5429 NE Briarwood Dr 0.17mi 2/2.0 (-1) 1,341 (-3%) 0mo $268,000 $200 80
5710 NE Creek Ridge Dr 0.07mi 3/3.0 1,521 (+10%) 2mo $439,990 $289 76
1201 NE 56th St 0.26mi 3/3.0 1,300 (-6%) 1mo $327,500 $252 75
1145 NE 56th St 0.26mi 3/3.0 1,300 (-6%) 2mo $323,500 $249 75
1205 NE 56th St 0.27mi 3/3.0 1,300 (-6%) 2mo $327,500 $252 74
5901 NE Seneca Ln 0.48mi 3/2.5 1,511 (+10%) 2mo $244,000 $161 60
1015 NE 49th Ln 0.61mi 2/2.5 (-1) 1,238 (-10%) 0mo $197,000 $159 49
4845 NE Mcdougal Ln 0.63mi 2/2.5 (-1) 1,238 (-10%) 1mo $200,000 $162 47
4814 NE Grove Ln 0.65mi 2/2.5 (-1) 1,228 (-11%) 2mo $170,000 $138 45
1008 NE Kamies Ln 0.72mi 4/3.5 (+1) 1,520 (+10%) 1mo $220,000 $145 39

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
-32.7%
Equity multiple
-0.05×
Total profit
$-67,297
Equity at exit
$34,145
10-year hold
IRR
-55.8%
Equity multiple
-0.66×
Total profit
$-106,564
Equity at exit
$19,800

Cash invested: $64,120 (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.
Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
16 active · 28 under contract
Months of supply
2.3 mo (44%/mo absorbed)
Median asking
$227,495 ($162/sqft)
Median days on market
67 d
This list price
50% of active listings are priced below it
ARV vs active asking
+10.4% 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
869
Price-to-rent
10.8×

Monthly cashflow live

Estimated rent
$1,759 high interval (Pro) →
Mortgage (P&I)
$1,201
Tax from tax record
$354 /mo · $4,242/yr
Insurance
$95
HOA
$160
Vacancy / Maint / Mgmt
$369
Net cashflow
$-420

Break-even live

Break-even rent $2,291
Max offer price $154,812
Occupancy floor

Sensitivity live

Price -10% $-290 -5% $-355 +0% $-420 +5% $-485 +10% $-550
Rent -10% $-559 -5% $-489 +0% $-420 +5% $-350 +10% $-281
Rate -1.0pp $-305 -0.5pp $-362 base $-420 +0.5pp $-479 +1.0pp $-540

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
$57,250
Closing costs
$6,870
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 23 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
5711 NE Lowell Ln Ankeny, IA 3.0 3.0 1380 $1,655 $1.20 15d 1 0.08mi
1424 NE 56th Ln Ankeny, IA 3.0–4.0 2.5 1658 $2,025 $1.22 15d 12 0.20mi
5007 NE McDougal Ln Unit 4921 Ankeny, IA 2.0 2.0 1036 $1,500 $1.45 15d 1 0.48mi
5007 NE McDougal Ln Unit 4916 McDougal Ankeny, IA 2.0 2.0 1036 $1,475 $1.42 15d 1 0.48mi
1005 NE Kamies Ln Ankeny, IA 3.0 2.5 1520 $1,895 $1.25 16d 1 0.72mi
4543 NE McDougal Ln Ankeny, IA 3.0 3.5 1520 $1,895 $1.25 16d 1 0.76mi
4536 NE McDougal Ln Ankeny, IA 4.0 3.0 1520 $1,895 $1.25 16d 1 0.77mi
110 NE 46th Ln Ankeny, IA 2.0 2.0 995 $1,300 $1.31 15d 1 1.10mi
3921 NE Gardenia Ln Ankeny, IA 2.0 1.5 1300 $1,595 $1.23 93d 1 1.14mi
203 NE 45th Ln Ankeny, IA 3.0 2.5 1500 $1,650 $1.10 16d 1 1.17mi
170 NE 41st St Ankeny, IA 1.0–3.0 1.0–2.0 1158 $1,706 $1.47 15d 21 1.30mi
3611 NE Otterview Cir Ankeny, IA 1.0–2.0 1.0–2.0 778 $1,700 $2.19 15d 18 1.31mi
3707 NE Marissa Ln Ankeny, IA 3.0 2.5 1480 $1,795 $1.21 72d 1 1.36mi
3654 NE Kara Ln Ankeny, IA 2.0 2.0 1368 $1,950 $1.43 93d 1 1.37mi
3639 NE Kara Ln Ankeny, IA 2.0 2.0 1368 $1,900 $1.39 16d 1 1.38mi
3635 NE Kara Ln Ankeny, IA 3.0 2.0 1740 $1,950 $1.12 72d 1 1.38mi
3653 NE Marissa Ln Ankeny, IA 3.0 2.5 1740 $1,950 $1.12 16d 1 1.38mi
3619 NE Kara Ln Ankeny, IA 3.0 2.5 1700 $1,950 $1.15 72d 1 1.39mi
3641 NE Marissa Ln Ankeny, IA 2.0 2.0 1336 $1,900 $1.42 72d 1 1.40mi
3630 NE Kara Ln Ankeny, IA 2.0 2.0 1336 $1,900 $1.42 93d 1 1.40mi
3622 NE Kara Ln Ankeny, IA 3.0 2.5 1740 $1,950 $1.12 93d 1 1.40mi
3624 NE Marissa Ln Ankeny, IA 3.0 3.0 1740 $1,950 $1.12 93d 1 1.42mi
3620 NE Marissa Ln Ankeny, IA 3.0 2.5 1740 $1,950 $1.12 16d 1 1.43mi

Property features AI

Finance

HOA & community
Homeowners association (Northgate Rowhouses HOA)HOA management: HOA Management SolutionsHOA fee $160 per monthHOA includes grounds and structure maintenance, snow removal, and trash

Exterior

Parking
Attached 2-car garage
Security
Fire alarm
Utilities
Public waterPublic sewer
Home design
Two-storyPlanned Unit Development (PUD)
Construction
Vinyl sidingAsphalt shingle roofPoured slab foundation
Exterior features
Patio (open)Sprinkler/irrigationConcrete road surface

Interior

Kitchen
DishwasherMicrowaveRefrigeratorStove
Flooring
Carpet
Bathrooms
One full bathroomOne three-quarter bathroomOne half bathroom
Heating & cooling
Central air conditioningForced-air heating (natural gas)
Interior features
Dining areaCarpet flooringFireplace (1)
Laundry & utility
WasherDryer

Listing history 50 events

  1. 2026-08-08
    days on market $229,000 Active 116 DOM
  2. 2026-08-07
    days on market $229,000 Active 115 DOM
  3. 2026-08-06
    days on market $229,000 Active 114 DOM
  4. 2026-08-05
    days on market $229,000 Active 113 DOM
  5. 2026-08-04
    days on market $229,000 Active 112 DOM
  6. 2026-08-03
    days on market $229,000 Active 111 DOM
  7. 2026-07-31
    pricedays on market $229,000 Active 108 DOM
  8. 2026-07-30
    days on market $232,500 Active 107 DOM
  9. 2026-07-29
    days on market $232,500 Active 106 DOM
  10. 2026-07-27
    days on market $232,500 Active 104 DOM
  11. 2026-07-25
    days on market $232,500 Active 102 DOM
  12. 2026-07-24
    days on market $232,500 Active 101 DOM
  13. 2026-07-23
    days on market $232,500 Active 100 DOM
  14. 2026-07-22
    days on market $232,500 Active 99 DOM
  15. 2026-07-21
    days on market $232,500 Active 98 DOM
  16. 2026-07-18
    days on market $232,500 Active 95 DOM
  17. 2026-07-16
    days on market $232,500 Active 93 DOM
  18. 2026-07-16
    days on market $232,500 Active 92 DOM
  19. 2026-07-14
    days on market $232,500 Active 91 DOM
  20. 2026-07-13
    days on market $232,500 Active 90 DOM
  21. 2026-07-12
    days on market $232,500 Active 89 DOM
  22. 2026-07-11
    days on market $232,500 Active 88 DOM
  23. 2026-07-10
    days on market $232,500 Active 87 DOM
  24. 2026-07-09
    days on market $232,500 Active 86 DOM
  25. 2026-07-08
    days on market $232,500 Active 85 DOM
  26. 2026-07-07
    days on market $232,500 Active 84 DOM
  27. 2026-07-06
    days on market $232,500 Active 83 DOM
  28. 2026-07-05
    days on market $232,500 Active 82 DOM
  29. 2026-07-04
    days on market $232,500 Active 81 DOM
  30. 2026-07-03
    days on market $232,500 Active 80 DOM
  31. 2026-07-02
    days on market $232,500 Active 79 DOM
  32. 2026-07-01
    days on market $232,500 Active 78 DOM
  33. 2026-06-30
    days on market $232,500 Active 77 DOM
  34. 2026-06-29
    days on market $232,500 Active 76 DOM
  35. 2026-06-28
    days on market $232,500 Active 75 DOM
  36. 2026-06-28
    days on market $232,500 Active 74 DOM
  37. 2026-06-27
    days on market $232,500 Active 73 DOM
  38. 2026-06-25
    days on market $232,500 Active 71 DOM
  39. 2026-06-23
    days on market $232,500 Active 69 DOM
  40. 2026-06-21
    days on market $232,500 Active 68 DOM
  41. 2026-06-18
    days on market $232,500 Active 65 DOM
  42. 2026-06-17
    days on market $232,500 Active 64 DOM
  43. 2026-06-16
    days on market $232,500 Active 63 DOM
  44. 2026-06-15
    days on market $232,500 Active 62 DOM
  45. 2026-06-14
    days on market $232,500 Active 60 DOM
  46. 2026-06-13
    days on market $232,500 Active 59 DOM
  47. 2026-06-10
    days on market $232,500 Active 57 DOM
  48. 2026-06-09
    days on market $232,500 Active 56 DOM
  49. 2026-06-08
    days on market $232,500 Active 55 DOM
  50. 2026-06-07
    days on market $232,500 Active 54 DOM

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

Tax reassessment forecast IA · Partial reset (capped growth)

Current annual tax
$4,242 · $354/mo
Projected year-2 tax
$4,242 · $354/mo
Expected delta
$0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥103°F today · 15 d/yr by 30 yrs out
  • 💨 Wind 2/10 Low
  • 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$21,112
− Mortgage interest
−$12,828
− Property taxes
−$4,242
− Insurance
−$1,145
− Repairs & maintenance
−$1,689
− Management
−$1,689
− HOA
−$1,920
− Depreciation
−$6,662
Taxable loss
−$9,063
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,175
After-tax cash flow
$-2,865/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 move-in ready end-unit townhome in NE Ankeny offers a stylish, open-concept layout with modern appliances and neutral paint. It's in good condition with minimal maintenance needed.

Value-add opportunities

  • Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics
  • Both Replace ceiling fans with energy-efficient models — Energy-efficient fans can save on energy costs and improve comfort
  • Both Install smart home devices — Smart home devices can increase home's value and appeal to tech-savvy buyers
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

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

Price history

+4.8% since first listed
7 events — show timeline
  • 2026-05-26 Price Changed $232,500 DMMLS
  • 2026-04-22 Relisted DMMLS
  • 2026-04-19 Pending DMMLS
  • 2026-04-10 Listed $235,000 DMMLS
  • 2022-06-17 Sold (MLS) $221,816 DMMLS
  • 2021-11-29 Listing Removed DMMLS
  • 2021-11-29 Listed $221,816 DMMLS

Property tax history

+271.4%/yr

Latest (2025): $4,242 · +2.2% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…