3340 NW Stratford Ln · Ankeny, IA 50023

$235,000

3 bd · 2.5 ba · 1,534 sqft · Condo public records · 44 Days on market

Built 2022 $153/sqft · 10% below area Est $262k · 10% under $150/mo HOA · 8% of rent ↓ 4% 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 +12.1/15.0
• Cash flow +7.1/30.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• 1% rule +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Village at Aspen Ridge! This two-story townhome offers 1,490 square feet of finished living space. The main level features living room with fireplace, eat in kitchen with quartz countertops and a half bath. The second level offers three bedrooms, two bathrooms and a laundry room. The primary bedroom has en-suite with double vanity and a large walk-in closet. This home offers two car attached garage, concrete patio and is located close to interstate, restaurants and many other amenities Ankeny has to offer!

Key facts

• Lawn care included
• Open patio
• Near shopping

Tags

• CORNER ELECTRIC FIREPLACE
• KITCHEN PANTRY
• OPEN PATIO
• LAWN CARE INCLUDED
• SNOW REMOVAL INCLUDED
• NEAR SHOPPING

Property features AI

Finance

• HOA & community: Homeowners association (Village at Aspen Ridge Estate / Stanbrough Realty LLC); HOA fee $150 monthly; HOA covers grounds and structure maintenance, snow removal, and trash

Exterior

• Parking: Attached two-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: 2-story home; R-3 zoning
• Construction: Stone and vinyl siding exterior; Asphalt shingle roof; Poured slab foundation
• Exterior features: Open patio

Interior

• Kitchen: Dishwasher; Microwave; Stove
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dining area; Eat-in kitchen; Electric fireplace (1)
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (22.2% below list).
• Recommended offer: $183k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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: Ashland Ridge Elementary (math 88% / reading 78%, grade A+, #42 of 616 statewide, top 7%, 759 students, 11% FRL); Prairie Ridge Middle School (math 81% / reading 84%, grade A+, #16 of 246 statewide, top 8%, 1,025 students, 16% FRL); Ankeny Centennial High School (math 79% / reading 85%, grade A, #20 of 336 statewide, top 7%, 1,443 students, 16% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: Rents flat; 498 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 44 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $182,742 (22.2% 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. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 22% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.02%
• DSCR: 0.73
• GRM: 10.7

CMA / ARV

• ARV (median comp): $261,600
• List price: $235,000
• Delta: -10.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -29.4%
• Equity multiple: 0.04×
• Total profit: $-63,048
• Equity at exit: $35,039

10-year hold

• IRR: -44.2%
• Equity multiple: -0.48×
• Total profit: $-97,380
• Equity at exit: $20,319

Cash invested: $65,800 (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 50023

• Rents YoY: 0.8%
• Active inventory: 498
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,827 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$150
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-330

Break-even live

Break-even rent $2,246

Max offer price $187,195

Occupancy floor —

Sensitivity live

Price	-10% $-168	-5% $-249	+0% $-330	+5% $-412	+10% $-493
Rent	-10% $-475	-5% $-403	+0% $-330	+5% $-258	+10% $-186
Rate	-1.0pp $-212	-0.5pp $-271	base $-330	+0.5pp $-391	+1.0pp $-453

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3305 NW Cameo Ln Ankeny, IA	2.0	2.5	1160	$1,650	$1.42	16d	12	0.06mi
1735 NW Fieldstream Ln Ankeny, IA	1.0–2.0	1.0–2.0	909	$1,354	$1.49	16d	40	0.29mi
2215 NW Bayberry Ln Ankeny, IA	3.0	2.5	1511	$2,000	$1.32	25d	1	0.65mi
1908 NW Ashton Ln #1 Ankeny, IA	2.0	2.0	1404	$1,650	$1.18	16d	1	0.80mi
3111 NW Cedarwood Ln Ankeny, IA	3.0	2.5	1611	$1,895	$1.18	45d	1	0.95mi
1914 NW School St Ankeny, IA	3.0	3.0	1831	$2,250	$1.23	45d	1	0.96mi
3219 NW Cedarwood Dr Ankeny, IA	3.0	2.5	1611	$1,895	$1.18	25d	1	1.04mi
4202 NW Linwood Dr Ankeny, IA	4.0	2.5	1865	$2,295	$1.23	25d	1	1.06mi
152 NE 22nd Ln Ankeny, IA	2.0	2.5	1158	$1,662	$1.44	16d	8	1.10mi
3624 NE Marissa Ln Ankeny, IA	3.0	3.0	1740	$1,950	$1.12	45d	1	1.10mi
4204 NW Cedarwood Dr Ankeny, IA	4.0	2.5	1865	$2,195	$1.18	45d	1	1.11mi
3089 NW Irvinedale Dr Ankeny, IA	2.0	2.0	1217	$1,895	$1.56	45d	1	1.12mi
3641 NE Marissa Ln Ankeny, IA	2.0	2.0	1336	$1,900	$1.42	25d	1	1.13mi
3707 NE Marissa Ln Ankeny, IA	3.0	2.5	1480	$1,795	$1.21	25d	1	1.14mi
2921 NW 40th Ln Ankeny, IA	3.0	2.5	1352	$1,895	$1.40	45d	1	1.14mi
3622 NE Kara Ln Ankeny, IA	3.0	2.5	1740	$1,950	$1.12	45d	1	1.15mi
3630 NE Kara Ln Ankeny, IA	2.0	2.0	1336	$1,900	$1.42	45d	1	1.15mi
3654 NE Kara Ln Ankeny, IA	2.0	2.0	1368	$1,950	$1.43	45d	1	1.15mi
4006 NW Northwood Ln Ankeny, IA	3.0	2.5	1457	$1,795	$1.23	15d	1	1.17mi
3619 NE Kara Ln Ankeny, IA	3.0	2.5	1700	$1,950	$1.15	25d	1	1.17mi
3635 NE Kara Ln Ankeny, IA	3.0	2.0	1740	$1,950	$1.12	25d	1	1.18mi
110 NE 46th Ln Ankeny, IA	2.0–3.0	2.0	1099	$1,400	$1.27	16d	3	1.18mi
2613 NW Lois Ln Ankeny, IA	3.0	2.5	1550	$1,850	$1.19	23d	1	1.22mi
2720 NW Casey Jones Ln Ankeny, IA	3.0	2.5	1550	$1,800	$1.16	45d	1	1.24mi
2724 NW Casey Jones Ln Ankeny, IA	2.0	2.5	1450	$1,700	$1.17	16d	1	1.25mi
3108 NW 29th St Ankeny, IA	4.0	2.5	2110	$2,395	$1.14	16d	1	1.27mi
2517 NW Woodbury Dr Ankeny, IA	4.0	3.0	2084	$2,795	$1.34	45d	1	1.31mi
1709 NE Sherman Ct Ankeny, IA	3.0	2.5	1855	$2,200	$1.19	25d	1	1.39mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $235,000 Active 44 DOM
2. 2026-06-18
   days on market $235,000 Active 41 DOM
3. 2026-06-17
   days on market $235,000 Active 40 DOM
4. 2026-06-16
   pricedays on market $235,000 Active 39 DOM
5. 2026-06-15
   days on market $239,900 Active 38 DOM
6. 2026-06-14
   days on market $239,900 Active 36 DOM
7. 2026-06-13
   days on market $239,900 Active 35 DOM
8. 2026-06-10
   days on market $239,900 Active 33 DOM
9. 2026-06-09
   days on market $239,900 Active 32 DOM
10. 2026-06-08
    days on market $239,900 Active 31 DOM
11. 2026-06-07
    days on market $239,900 Active 30 DOM
12. 2026-06-03
    days on market $239,900 Active 26 DOM
13. 2026-06-02
    days on market $239,900 Active 25 DOM
14. 2026-06-01
    days on market $239,900 Active 24 DOM
15. 2026-05-31
    days on market $239,900 Active 23 DOM
16. 2026-05-31
    days on market $239,900 Active 22 DOM
17. 2026-05-18
    price $239,900 1149-char remark
18. 2026-05-08
    listed $245,000 Active 1149-char remark
19. 2024-10-04
    soldstatus $240,000
20. 2024-10-03
    soldstatus $240,000 Closed 526-char remark

    Show marketing remark (526 chars)

    Welcome to the Village at Aspen Ridge! This two-story townhome offers 1,490 square feet of finished living space. The main level features living room with fireplace, eat in kitchen with quartz countertops and a half bath. The second level offers three bedrooms, two bathrooms and a laundry room. The primary bedroom has en-suite with double vanity and a large walk-in closet. This home offers two car attached garage, concrete patio and is located close to interstate, restaurants and many other amenities Ankeny has to offer!

21. 2024-09-03
    status Pending 526-char remark

    Show marketing remark (526 chars)

    Welcome to the Village at Aspen Ridge! This two-story townhome offers 1,490 square feet of finished living space. The main level features living room with fireplace, eat in kitchen with quartz countertops and a half bath. The second level offers three bedrooms, two bathrooms and a laundry room. The primary bedroom has en-suite with double vanity and a large walk-in closet. This home offers two car attached garage, concrete patio and is located close to interstate, restaurants and many other amenities Ankeny has to offer!

22. 2024-08-02
    price $240,000 526-char remark

    Show marketing remark (526 chars)

    Welcome to the Village at Aspen Ridge! This two-story townhome offers 1,490 square feet of finished living space. The main level features living room with fireplace, eat in kitchen with quartz countertops and a half bath. The second level offers three bedrooms, two bathrooms and a laundry room. The primary bedroom has en-suite with double vanity and a large walk-in closet. This home offers two car attached garage, concrete patio and is located close to interstate, restaurants and many other amenities Ankeny has to offer!

23. 2024-07-19
    listed $245,000 Active 526-char remark

    Show marketing remark (526 chars)

    Welcome to the Village at Aspen Ridge! This two-story townhome offers 1,490 square feet of finished living space. The main level features living room with fireplace, eat in kitchen with quartz countertops and a half bath. The second level offers three bedrooms, two bathrooms and a laundry room. The primary bedroom has en-suite with double vanity and a large walk-in closet. This home offers two car attached garage, concrete patio and is located close to interstate, restaurants and many other amenities Ankeny has to offer!

24. 2024-03-01
    soldstatus $245,000
25. 2024-02-29
    soldstatus $245,000 Closed

    Show marketing remark (1021 chars)

    Looking for a perfectly located townhome that fits all your needs? Look no further, the Greenland Homes townhomes in Aspen Ridge is the place to be! These townhomes not only come with all appliances, but also include a 2-year builder warranty! With 3 bedrooms and 2.5 bathrooms these homes are not short on space. The main living area comes with quartz countertops, a backsplash, and even a captivating ship-lap fireplace in the living room. The second level contains all 3 bedrooms, 2 full bathrooms, and even a laundry room to top it off! The master bedroom comes with a walk-in closet in addition to its own private bathroom. This charming neighborhood is just right down the street from restaurants, schools, golf courses, and many other desired amenities! Ask about our special financing offering the lowest 5/1 & 7/1 ARM rates in town! Greenland Homes is building in Altoona, Ankeny, Bondurant, Clive, Elkhart, Granger, Huxley, Madrid, Norwalk, and Waukee. Model Home located at 3403 NW Stratford Ln Ankeny IA

26. 2024-02-09
    status Pending

    Show marketing remark (1021 chars)

    Looking for a perfectly located townhome that fits all your needs? Look no further, the Greenland Homes townhomes in Aspen Ridge is the place to be! These townhomes not only come with all appliances, but also include a 2-year builder warranty! With 3 bedrooms and 2.5 bathrooms these homes are not short on space. The main living area comes with quartz countertops, a backsplash, and even a captivating ship-lap fireplace in the living room. The second level contains all 3 bedrooms, 2 full bathrooms, and even a laundry room to top it off! The master bedroom comes with a walk-in closet in addition to its own private bathroom. This charming neighborhood is just right down the street from restaurants, schools, golf courses, and many other desired amenities! Ask about our special financing offering the lowest 5/1 & 7/1 ARM rates in town! Greenland Homes is building in Altoona, Ankeny, Bondurant, Clive, Elkhart, Granger, Huxley, Madrid, Norwalk, and Waukee. Model Home located at 3403 NW Stratford Ln Ankeny IA

27. 2023-12-08
    listed $245,000 Active

    Show marketing remark (1021 chars)

    Looking for a perfectly located townhome that fits all your needs? Look no further, the Greenland Homes townhomes in Aspen Ridge is the place to be! These townhomes not only come with all appliances, but also include a 2-year builder warranty! With 3 bedrooms and 2.5 bathrooms these homes are not short on space. The main living area comes with quartz countertops, a backsplash, and even a captivating ship-lap fireplace in the living room. The second level contains all 3 bedrooms, 2 full bathrooms, and even a laundry room to top it off! The master bedroom comes with a walk-in closet in addition to its own private bathroom. This charming neighborhood is just right down the street from restaurants, schools, golf courses, and many other desired amenities! Ask about our special financing offering the lowest 5/1 & 7/1 ARM rates in town! Greenland Homes is building in Altoona, Ankeny, Bondurant, Clive, Elkhart, Granger, Huxley, Madrid, Norwalk, and Waukee. Model Home located at 3403 NW Stratford Ln Ankeny IA

ⓘ 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 ≥104°F today · 14 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

Taxation est. · year 1

• Rental income: $21,929
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − HOA: −$1,800
• − Depreciation: −$6,836
• Taxable loss: −$8,080
• Est. tax savings @ 24.0%: +$1,939
• After-tax cash flow: $-2,025/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): 46,306
• Household income: $117,826
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 617.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 6% Iranian 3% Slovak 2%
• Foreign-born: 4% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -135.67%
• Current HPI: 215.1034
• Rent YoY: ▲ 0.75%
• 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

-4.1% since first listed

12 events — show timeline

• 2026-06-16 Price Changed $235,000 DMMLS
• 2026-05-18 Price Changed $239,900 DMMLS
• 2026-05-08 Listed $245,000 DMMLS
• 2024-10-04 Sold (Public Records) $240,000 Public Records
• 2024-10-03 Sold (MLS) $240,000 DMMLS
• 2024-09-03 Pending — DMMLS
• 2024-08-02 Price Changed $240,000 DMMLS
• 2024-07-19 Listed $245,000 DMMLS
• 2024-03-01 Sold (Public Records) $245,000 Public Records
• 2024-02-29 Sold (MLS) $245,000 DMMLS
• 2024-02-09 Pending — DMMLS
• 2023-12-08 Listed $245,000 DMMLS