4024 NE Timber Ln · Ankeny, IA 50021

$235,000

3 bd · 2.5 ba · 1,473 sqft · Townhouse public records · 159 Days on market

Built 2022 Good condition 1,413 sqft lot 2-car garage $160/sqft · 10% below area Est $261k · 10% under $175/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 +12.0/15.0
• Cash flow +8.4/30.0
• Schools +7.7/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +2.7/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

What if you could buy this townhome for less than rent? This townhome checks all of the boxes. Look no further, the Greenland Homes townhomes in The Landing At Deer Creek Crossing is the place to be! These townhomes not only come with all appliances but also include a 2-year builder warranty! This home features 3 bedrooms and 2.5 bathrooms. These townhomes are not short on space. The kitchen is lined with white cabinets, quartz countertops and backsplash. The main living area features a captivating ship-lap fireplace in the living room area. The second level contains all 3 bedrooms, 2 full bathrooms, and a laundry room for added convenience. The master bedroom has a walk-in closet in addition to its own private bathroom. This community offers easy commute to Des Moines or Ames, just a few minutes from I-35. Call TODAY for your private showing or visit an open house Wednesday & Thursday 3-6:00, Saturday 9-Noon and Sundays 1-4:00.

Key facts

• Open living area
• Private outdoor spot
• Corner fireplace

Tags

• OPEN LIVING AREA
• CORNER FIREPLACE
• PRIVATE OUTDOOR SPOT
• QUICK ACCESS TO INTERSTATE
• PEACEFUL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (14.5% below list).
• Recommended offer: $201k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 48% 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 159 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $200,901 (14.5% 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 159 days. Have you received any prior offers? Is the seller open to a 15% 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: 0.85% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 9.7

CMA / ARV

• ARV (median comp): $261,403
• List price: $235,000
• Delta: -10.10%
• 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
103 NE Doe Pointe Ln	0.16mi	3/2.5	1,546 (+5%)	4mo	$269,900	$175	81
3112 NE Chandler Ln	0.61mi	3/2.5	1,473 (0%)	1mo	$226,000	$153	70
593 Hart Ln	0.40mi	3/2.5	1,376 (-7%)	1mo	$249,990	$182	70
4341 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	1mo	$217,990	$144	68
4330 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	2mo	$219,990	$146	68
234 NE Meadow Ln	0.64mi	3/2.5	1,473 (0%)	3mo	$232,000	$158	67
601 NE Hart Ln	0.42mi	3/2.5	1,376 (-7%)	3mo	$254,990	$185	67
4424 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	3mo	$226,190	$150	67
4334 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	3mo	$214,990	$142	67
592 NE Hart Ln	0.44mi	3/2.5	1,376 (-7%)	3mo	$254,990	$185	66
596 NE Hart Ln	0.43mi	3/2.5	1,376 (-7%)	4mo	$249,900	$182	66
3202 NE 4th Ln	0.59mi	4/3.0 (+1)	1,505 (+2%)	4mo	$383,000	$254	59

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: -25.4%
• Equity multiple: 0.16×
• Total profit: $-55,558
• Equity at exit: $35,039

10-year hold

• IRR: -30.5%
• Equity multiple: -0.24×
• Total profit: $-81,411
• 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 →

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 ($178/sqft)
• Median days on market: 142 d
• This list price: 23% of active listings are priced below it
• ARV vs active asking: -0.3% 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: 992
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$175
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-212

Break-even live

Break-even rent $2,277

Max offer price $204,336

Occupancy floor —

Sensitivity live

Price	-10% $-50	-5% $-131	+0% $-212	+5% $-293	+10% $-374
Rent	-10% $-371	-5% $-291	+0% $-212	+5% $-133	+10% $-53
Rate	-1.0pp $-94	-0.5pp $-152	base $-212	+0.5pp $-273	+1.0pp $-335

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 NE 2nd Ln Ankeny, IA	3.0	3.0	1500	$1,750	$1.17	3d	1	0.07mi
4031 NE 5th St Ankeny, IA	4.0	2.5	1620	$2,095	$1.29	6d	1	0.13mi
4026 NE 5th St Ankeny, IA	4.0	2.5	1620	$2,095	$1.29	6d	1	0.15mi
4009 NE 6th St Ankeny, IA	3.0	3.0	1800	$2,095	$1.16	6d	1	0.18mi
3905 NE 6th St Ankeny, IA	4.0	3.0	1796	$2,295	$1.28	6d	1	0.21mi
4213 NE 6th St Ankeny, IA	4.0	3.0	1858	$2,295	$1.24	62d	1	0.23mi
4416 NE Timber Ln Ankeny, IA	4.0	2.5	1709	$1,995	$1.17	0d	1	0.24mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	139d	1	0.24mi
610 NE Hunter Dr Ankeny, IA	4.0	3.0	1621	$2,145	$1.32	6d	1	0.46mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	139d	1	0.53mi
3212 NE Fawn Ln Ankeny, IA	4.0	3.0	1492	$2,995	$2.01	62d	1	0.56mi
3101 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,895	$1.30	62d	1	0.62mi
3106 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,825	$1.25	6d	1	0.62mi
4331 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
4421 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	61d	1	0.67mi
1333 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	61d	1	0.70mi
1407 NE Crossing Oaks Dr Ankeny, IA	4.0	3.0	1498	$2,995	$2.00	61d	1	0.73mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1756	$2,095	$1.19	0d	1	0.77mi
4428 NE 16th St Ankeny, IA	4.0	3.0	1498	$2,095	$1.40	0d	1	0.83mi
1631 NE Crossing Oaks Ln Ankeny, IA	3.0	2.5	1562	$1,850	$1.18	0d	1	0.89mi

Property features AI

Finance

• HOA & community: Has homeowners association (Deer Creek Crossing / Stanbrough Realty)HOA fee $175 monthlyHOA includes grounds and structure maintenance, snow removal, and trash

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detectors
• Utilities: Public waterPublic sewer
• Home design: Two-story homeBuilt by Greenland
• Construction: Stone and vinyl siding exteriorAsphalt shingle roofBlock and slab foundation
• Exterior features: Open patio

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove
• Bathrooms: 1 full bathroom1 three-quarter bathroom1 half bathroom
• Heating & cooling: Electric forced-air heatingCentral air conditioning
• Interior features: Dining areaWindow treatmentsElectric fireplace
• Laundry & utility: WasherDryerLaundry on main level

Listing history 50 events

1. 2026-09-23
   days on market $235,000 Active 159 DOM
2. 2026-09-22
   days on market $235,000 Active 158 DOM
3. 2026-09-21
   days on market $235,000 Active 157 DOM
4. 2026-09-20
   days on market $235,000 Active 156 DOM
5. 2026-09-19
   days on market $235,000 Active 155 DOM
6. 2026-09-18
   days on market $235,000 Active 154 DOM
7. 2026-09-17
   days on market $235,000 Active 153 DOM
8. 2026-09-16
   pricedays on market $235,000 Active 152 DOM
9. 2026-09-15
   days on market $238,900 Active 151 DOM
10. 2026-09-14
    days on market $238,900 Active 150 DOM
11. 2026-09-13
    days on market $238,900 Active 149 DOM
12. 2026-09-12
    days on market $238,900 Active 148 DOM
13. 2026-09-11
    pricedays on market $238,900 Active 147 DOM
14. 2026-09-05
    days on market $240,000 Active 141 DOM
15. 2026-09-04
    days on market $240,000 Active 140 DOM
16. 2026-09-03
    days on market $240,000 Active 139 DOM
17. 2026-08-31
    days on market $240,000 Active 136 DOM
18. 2026-08-30
    days on market $240,000 Active 135 DOM
19. 2026-08-29
    days on market $240,000 Active 134 DOM
20. 2026-08-28
    days on market $240,000 Active 133 DOM
21. 2026-08-27
    days on market $240,000 Active 132 DOM
22. 2026-08-26
    days on market $240,000 Active 131 DOM
23. 2026-08-25
    pricedays on market $240,000 Active 130 DOM
24. 2026-08-24
    days on market $245,900 Active 129 DOM
25. 2026-08-23
    days on market $245,900 Active 128 DOM
26. 2026-08-22
    days on market $245,900 Active 127 DOM
27. 2026-08-21
    days on market $245,900 Active 126 DOM
28. 2026-08-20
    days on market $245,900 Active 125 DOM
29. 2026-08-19
    days on market $245,900 Active 124 DOM
30. 2026-08-18
    days on market $245,900 Active 123 DOM
31. 2026-08-17
    days on market $245,900 Active 122 DOM
32. 2026-08-16
    days on market $245,900 Active 121 DOM
33. 2026-08-15
    days on market $245,900 Active 120 DOM
34. 2026-08-15
    days on market $245,900 Active 119 DOM
35. 2026-08-13
    days on market $245,900 Active 118 DOM
36. 2026-08-12
    days on market $245,900 Active 117 DOM
37. 2026-08-11
    days on market $245,900 Active 116 DOM
38. 2026-08-10
    days on market $245,900 Active 115 DOM
39. 2026-08-09
    days on market $245,900 Active 114 DOM
40. 2026-08-08
    days on market $245,900 Active 113 DOM
41. 2026-08-07
    days on market $245,900 Active 112 DOM
42. 2026-08-06
    days on market $245,900 Active 111 DOM
43. 2026-08-05
    days on market $245,900 Active 110 DOM
44. 2026-08-04
    days on market $245,900 Active 109 DOM
45. 2026-08-03
    pricedays on market $245,900 Active 108 DOM
46. 2026-07-31
    days on market $250,000 Active 105 DOM
47. 2026-07-30
    days on market $250,000 Active 104 DOM
48. 2026-07-29
    days on market $250,000 Active 103 DOM
49. 2026-07-27
    days on market $250,000 Active 101 DOM
50. 2026-07-25
    days on market $250,000 Active 99 DOM

ⓘ 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 ≥103°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: $24,108
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − HOA: −$2,100
• − Depreciation: −$6,836
• Taxable loss: −$6,549
• Est. tax savings @ 24.0%: +$1,572
• After-tax cash flow: $-971/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 Cosmetic rehab Est. rehab $7,365–$22,095 screening

This well-maintained townhouse is move-in ready with a good condition score and minimal repairs needed. It offers a good ROI with updates that can further increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract potential buyers ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

Property features AI

Finance

• HOA & community: Has homeowners association (Deer Creek Crossing / Stanbrough Realty)HOA fee $175 monthlyHOA includes grounds and structure maintenance, snow removal, and trash

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detectors
• Utilities: Public waterPublic sewer
• Home design: Two-story homeBuilt by Greenland
• Construction: Stone and vinyl siding exteriorAsphalt shingle roofBlock and slab foundation
• Exterior features: Open patio

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove
• Bathrooms: 1 full bathroom1 three-quarter bathroom1 half bathroom
• Heating & cooling: Electric forced-air heatingCentral air conditioning
• Interior features: Dining areaWindow treatmentsElectric fireplace
• Laundry & utility: WasherDryerLaundry on main level

Price history

+4.0% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $254,900 DMMLS
• 2026-04-17 Listed $260,000 DMMLS
• 2023-05-22 Sold (Public Records) $245,000 Public Records
• 2023-05-19 Sold (MLS) $245,000 DMMLS
• 2023-04-13 Pending — DMMLS
• 2022-09-30 Listed $245,000 DMMLS