4024 NE Timber Ln · Ankeny, IA 50021

$254,900

3 bd · 2.5 ba · 1,473 sqft · Townhouse public records · 62 Days on market

Built 2022 Good condition 1,413 sqft lot $173/sqft · at area comps Est $260k · at est. $175/mo HOA · 8% of rent

---

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
• Cash flow +7.7/30.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.7/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This like-new 2-story townhome offers easy living with a smart, functional floor plan and plenty of natural light. With 3 bedrooms and 2.5 baths, the layout provides comfortable everyday living. The main level features an open living area anchored by a corner fireplace, creating a warm, inviting focal point. The kitchen and dining space flow seamlessly to the patio and yard, giving you a private outdoor spot for grilling & relaxing. Upstairs, all three bedrooms are well-sized with good closet space, and the primary suite includes its own bath for added convenience. Located on a quiet side of town, this home offers quick, low-stress access to the interstate—perfect for commuters or anyone who wants to stay connected without the noise. Low monthly dues and a peaceful neighborhood!

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 $255k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-291 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (18.3% below list).
• Recommended offer: $208k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: schools A+, amenities A+, employment 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.
• Market conditions: Rents flat; 708 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $8k 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 62 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 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 $208,321 (18.3% 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 62 days. Have you received any prior offers? Is the seller open to a 18% 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: 0.82% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.89%
• DSCR: 0.78
• GRM: 10.2

CMA / ARV

• ARV (median comp): $260,408
• List price: $254,900
• Delta: -2.12%
• 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
210 NE Doe Pointe Ln	0.13mi	3/2.5	1,500 (+2%)	2mo	$289,900	$193	90
202 NE Doe Pointe Ln	0.13mi	3/2.5	1,500 (+2%)	2mo	$299,900	$200	89
4220 NE Timber Ln	0.13mi	3/3.5	1,500 (+2%)	3mo	$320,000	$213	85
103 NE Doe Pointe Ln	0.16mi	3/2.5	1,546 (+5%)	1mo	$269,900	$175	84
3110 NE 2nd Ln	0.62mi	3/2.5	1,473 (0%)	1mo	$216,500	$147	71
234 NE Meadow Ln	0.64mi	3/2.5	1,473 (0%)	0mo	$232,000	$158	70
596 NE Hart Ln	0.43mi	3/2.5	1,376 (-7%)	0mo	$249,900	$182	68
4411 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	2mo	$229,990	$152	68
4342 NE Spear Ln	0.53mi	3/3.0	1,511 (+3%)	2mo	$227,490	$151	68
3202 NE 4th Ln	0.59mi	4/3.0 (+1)	1,505 (+2%)	0mo	$383,000	$254	62
301 NE Meadow Ln	0.62mi	4/3.0 (+1)	1,509 (+2%)	1mo	$369,000	$245	60
602 NE Hart Ln	0.43mi	2/2.5 (-1)	1,328 (-10%)	1mo	$249,990	$188	58

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: -27.1%
• Equity multiple: 0.10×
• Total profit: $-63,959
• Equity at exit: $38,006

10-year hold

• IRR: -35.5%
• Equity multiple: -0.34×
• Total profit: $-95,791
• Equity at exit: $22,039

Cash invested: $71,372 (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: 708
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,083 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,824/yr
• Insurance: −$106
• HOA: −$175
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-291

Break-even live

Break-even rent $2,451

Max offer price $212,819

Occupancy floor —

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: $63,725
• Closing costs: $7,647
• 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	43d	1	0.24mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	14d	1	0.26mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	43d	1	0.53mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	14d	1	0.76mi

HOA detail

• Monthly dues: $175 · $2,100/yr

Listing history 21 events

1. 2026-06-18
   days on market $254,900 Active 62 DOM
2. 2026-06-17
   days on market $254,900 Active 61 DOM
3. 2026-06-16
   days on market $254,900 Active 60 DOM
4. 2026-06-15
   days on market $254,900 Active 59 DOM
5. 2026-06-14
   days on market $254,900 Active 57 DOM
6. 2026-06-13
   days on market $254,900 Active 56 DOM
7. 2026-06-10
   days on market $254,900 Active 54 DOM
8. 2026-06-09
   days on market $254,900 Active 53 DOM
9. 2026-06-08
   days on market $254,900 Active 52 DOM
10. 2026-06-07
    days on market $254,900 Active 51 DOM
11. 2026-06-03
    days on market $254,900 Active 47 DOM
12. 2026-06-02
    days on market $254,900 Active 46 DOM
13. 2026-06-01
    days on market $254,900 Active 45 DOM
14. 2026-05-31
    days on market $254,900 Active 44 DOM
15. 2026-05-31
    days on market $254,900 Active 43 DOM
16. 2026-05-08
    price $254,900 801-char remark

    Show marketing remark (801 chars)

    This like-new 2-story townhome offers easy living with a smart, functional floor plan and plenty of natural light. With 3 bedrooms and 2.5 baths, the layout provides comfortable everyday living. The main level features an open living area anchored by a corner fireplace, creating a warm, inviting focal point. The kitchen and dining space flow seamlessly to the patio and yard, giving you a private outdoor spot for grilling & relaxing. Upstairs, all three bedrooms are well-sized with good closet space, and the primary suite includes its own bath for added convenience. Located on a quiet side of town, this home offers quick, low-stress access to the interstate—perfect for commuters or anyone who wants to stay connected without the noise. Low monthly dues and a peaceful neighborhood!

17. 2026-04-17
    listed $260,000 Active 801-char remark

    Show marketing remark (801 chars)

    This like-new 2-story townhome offers easy living with a smart, functional floor plan and plenty of natural light. With 3 bedrooms and 2.5 baths, the layout provides comfortable everyday living. The main level features an open living area anchored by a corner fireplace, creating a warm, inviting focal point. The kitchen and dining space flow seamlessly to the patio and yard, giving you a private outdoor spot for grilling & relaxing. Upstairs, all three bedrooms are well-sized with good closet space, and the primary suite includes its own bath for added convenience. Located on a quiet side of town, this home offers quick, low-stress access to the interstate—perfect for commuters or anyone who wants to stay connected without the noise. Low monthly dues and a peaceful neighborhood!

18. 2023-05-22
    soldstatus $245,000
19. 2023-05-19
    soldstatus $245,000 Closed 982-char remark

    Show marketing remark (982 chars)

    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. Model located at 220 NE Woods LN

20. 2023-04-13
    status Pending 982-char remark

    Show marketing remark (982 chars)

    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. Model located at 220 NE Woods LN

21. 2022-09-30
    listed $245,000 Active 982-char remark

    Show marketing remark (982 chars)

    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. Model located at 220 NE Woods LN

ⓘ 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: $24,999
• − Mortgage interest: −$14,278
• − Property taxes: −$3,824
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − HOA: −$2,100
• − Depreciation: −$7,415
• Taxable loss: −$7,893
• Est. tax savings @ 24.0%: +$1,894
• After-tax cash flow: $-1,595/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+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