4226 NE Mongoose Ln · Ankeny, IA 50021

$223,900

3 bd · 2.5 ba · 1,562 sqft · Townhouse public records · 169 Days on market

Built 2023 Good condition 1,170 sqft lot Garage $143/sqft · 15% below area Est $263k · 15% under $175/mo HOA · 9% of rent ↓ 8% 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 +14.2/15.0
• Cash flow +8.5/30.0
• Schools +7.7/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +2.7/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* MOVE-IN READY * D. R. Horton, America’s Builder, presents the Sydney townhome. ALL APPLIANCES AND WINDOW BLINDS INCLUDED!! This Two-Story Townhome boasts 3 Bedrooms, 2.5 Bathrooms, and a 2-Car Garage in a spacious open floorplan. As you enter the home, you’ll be greeted with a beautiful Great Room featuring a cozy fireplace. The Gourmet Kitchen offers an Oversized Pantry and a Large Island, perfect for entertaining! On the second level, you’ll find the Primary Bedroom with an ensuite Bathroom featuring a dual vanity sink as well as a spacious Walk-In Closet. You’ll also find Two additional Large Bedrooms, full Bathroom, and Laundry Room! All D. R. Horton Iowa homes include our America’s Smart Home™ Technology and comes with an industry-leading suite of smart home products. Video doorbell, garage door control, lighting, door lock, thermostat, and voice - all controlled through one convenient app! Also included are DEAKO® decorative plug-n-play light switches with smart switch capability. Photos may be similar but not necessarily of subject property, including interior and exterior colors, finishes and appliances.

Key facts

• Gourmet kitchen
• Large island
• Cozy fireplace

Tags

• GOURMET KITCHEN
• LARGE ISLAND
• OVERSIZED PANTRY
• COZY FIREPLACE
• SMART HOME TECHNOLOGY

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $224k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (13.7% below list).
• Recommended offer: $193k (13.7% 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; 1128 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 169 days — a 12% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $193,181 (13.7% 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 169 days. Have you received any prior offers? Is the seller open to a 14% 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: 0.86% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.76%
• DSCR: 0.83
• GRM: 9.7

CMA / ARV

• ARV (median comp): $263,400
• List price: $223,900
• Delta: -15.00%
• 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
4325 NE Spear Ln	0.08mi	3/3.0	1,511 (-3%)	3mo	$239,990	$159	86
4338 NE Spear Ln	0.08mi	3/3.0	1,511 (-3%)	3mo	$219,990	$146	86
4407 NE Spear Ln	0.11mi	3/3.0	1,511 (-3%)	4mo	$217,990	$144	84
4415 NE Spear Ln	0.12mi	3/3.0	1,511 (-3%)	4mo	$217,990	$144	84
4341 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	2mo	$217,990	$144	74
4330 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	3mo	$219,990	$146	73
4424 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	4mo	$226,190	$150	72
4334 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	4mo	$214,990	$142	72
4411 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	6mo	$229,990	$152	71
4342 NE Spear Ln	0.35mi	3/3.0	1,511 (-3%)	6mo	$227,490	$151	71
596 NE Hart Ln	0.75mi	3/2.5	1,376 (-12%)	5mo	$249,900	$182	41
602 NE Hart Ln	0.73mi	2/2.5 (-1)	1,328 (-15%)	6mo	$249,990	$188	32

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: -25.2%
• Equity multiple: 0.16×
• Total profit: $-52,601
• Equity at exit: $33,384

10-year hold

• IRR: -30.1%
• Equity multiple: -0.23×
• Total profit: $-76,928
• Equity at exit: $19,359

Cash invested: $62,692 (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: 40 active · 19 under contract
• Months of supply: 15.0 mo (7%/mo absorbed)
• Median asking: $244,990 ($178/sqft)
• Median days on market: 188 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -5.3% 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: 1128
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,932 high
• Mortgage (P&I): −$1,174
• Tax est. 1.5%: −$280 /mo · $3,358/yr
• Insurance: −$93
• HOA: −$175
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-196

Break-even live

Break-even rent $2,180

Max offer price $195,511

Occupancy floor —

Sensitivity live

Price	-10% $-41	-5% $-119	+0% $-196	+5% $-274	+10% $-351
Rent	-10% $-349	-5% $-272	+0% $-196	+5% $-120	+10% $-44
Rate	-1.0pp $-83	-0.5pp $-139	base $-196	+0.5pp $-254	+1.0pp $-313

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: $55,975
• Closing costs: $6,717
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4415 NE 17th Ln Ankeny, IA	3.0	2.5	1418	$1,770	$1.25	0d	7	0.11mi
4343 NE Mongoose Ln Ankeny, IA	3.0	2.5	1562	$1,875	$1.20	17d	1	0.12mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1756	$2,095	$1.19	0d	1	0.16mi
1631 NE Crossing Oaks Ln Ankeny, IA	3.0	2.5	1562	$1,675	$1.07	0d	1	0.17mi
4428 NE 16th St Ankeny, IA	4.0	3.0	1498	$2,095	$1.40	37d	1	0.20mi
1407 NE Crossing Oaks Dr Ankeny, IA	4.0	3.0	1498	$2,995	$2.00	107d	1	0.27mi
4331 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	107d	1	0.28mi
1333 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	36d	1	0.30mi
4421 NE 14th St Ankeny, IA	3.0	2.5	1547	$1,845	$1.19	107d	1	0.30mi
1313 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	107d	1	0.33mi
1219 NE Crossing Oaks Dr Ankeny, IA	3.0	2.0	1200	$1,799	$1.50	0d	1	0.37mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	184d	1	0.39mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	184d	1	0.72mi
610 NE Hunter Dr Ankeny, IA	4.0	3.0	1621	$1,995	$1.23	33d	1	0.73mi
4009 NE 6th St Ankeny, IA	3.0	3.0	1800	$1,995	$1.11	33d	1	0.73mi
3905 NE 6th St Ankeny, IA	4.0	3.0	1796	$2,145	$1.19	10d	1	0.74mi
4213 NE 6th St Ankeny, IA	4.0	3.0	1858	$2,295	$1.24	108d	1	0.74mi
4026 NE 5th St Ankeny, IA	4.0	3.0	1620	$2,095	$1.29	10d	1	0.75mi
4031 NE 5th St Ankeny, IA	4.0	3.0	1620	$1,995	$1.23	9d	1	0.78mi
221 NE Crossing Oaks Ln Ankeny, IA	4.0	2.5	1726	$2,295	$1.33	16d	1	0.87mi
221 NE Crossing Oaks Ln Ankeny, IA	4.0	2.5	1726	$2,295	$1.33	10d	1	0.87mi
4416 NE Timber Ln Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	0d	1	0.90mi
4024 NE Timber Ln Ankeny, IA	3.0	3.0	1473	$1,795	$1.22	10d	1	0.90mi
4415 NE Timber Ln Ankeny, IA	4.0	2.5	1726	$2,295	$1.33	10d	1	0.92mi
4005 NE 2nd Ln Ankeny, IA	3.0	2.5	1500	$1,700	$1.13	10d	1	0.96mi
4005 NE 2nd Ln Ankeny, IA	3.0	3.0	1500	$1,700	$1.13	9d	1	0.96mi
3212 NE Fawn Ln Ankeny, IA	4.0	3.0	1492	$2,995	$2.01	108d	1	1.05mi
3106 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,825	$1.25	1d	1	1.17mi
3106 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,825	$1.25	51d	1	1.17mi
3101 NE 2nd Ln Ankeny, IA	3.0	2.5	1460	$1,895	$1.30	108d	1	1.18mi
2820 NE 38th St Ankeny, IA	1.0–2.0	1.0–2.0	861	$1,800	$2.09	0d	45	1.47mi

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Part of Canyon Landing Townhome association managed by Edge Property ManagementMonthly HOA fee of $175 covering grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Utilities: Public waterPublic sewer
• Home design: Two-story propertyAsphalt shingle roof
• Construction: Poured slab foundation
• Exterior features: Concrete road accessZoned residential

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove
• Flooring: Carpet
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Central air conditioningElectric heatingForced airNatural gas heating
• Interior features: Window treatmentsOne electric fireplace
• Laundry & utility: WasherDryerLaundry on upper level

Listing history 50 events

1. 2026-11-02
   days on market $223,900 Active 169 DOM
2. 2026-11-01
   days on market $223,900 Active 168 DOM
3. 2026-10-31
   days on market $223,900 Active 167 DOM
4. 2026-10-30
   days on market $223,900 Active 166 DOM
5. 2026-10-29
   days on market $223,900 Active 165 DOM
6. 2026-10-28
   days on market $223,900 Active 164 DOM
7. 2026-10-27
   days on market $223,900 Active 163 DOM
8. 2026-10-26
   days on market $223,900 Active 162 DOM
9. 2026-10-25
   days on market $223,900 Active 161 DOM
10. 2026-10-24
    days on market $223,900 Active 160 DOM
11. 2026-10-23
    days on market $223,900 Active 159 DOM
12. 2026-10-22
    days on market $223,900 Active 158 DOM
13. 2026-10-21
    days on market $223,900 Active 157 DOM
14. 2026-10-20
    days on market $223,900 Active 156 DOM
15. 2026-10-19
    days on market $223,900 Active 155 DOM
16. 2026-10-18
    days on market $223,900 Active 154 DOM
17. 2026-10-17
    days on market $223,900 Active 153 DOM
18. 2026-10-16
    days on market $223,900 Active 152 DOM
19. 2026-10-15
    days on market $223,900 Active 151 DOM
20. 2026-10-14
    days on market $223,900 Active 150 DOM
21. 2026-10-13
    days on market $223,900 Active 149 DOM
22. 2026-10-12
    days on market $223,900 Active 148 DOM
23. 2026-10-11
    days on market $223,900 Active 147 DOM
24. 2026-10-10
    days on market $223,900 Active 146 DOM
25. 2026-10-09
    days on market $223,900 Active 145 DOM
26. 2026-10-08
    days on market $223,900 Active 144 DOM
27. 2026-10-07
    days on market $223,900 Active 143 DOM
28. 2026-10-06
    days on market $223,900 Active 142 DOM
29. 2026-10-05
    days on market $223,900 Active 141 DOM
30. 2026-10-04
    days on market $223,900 Active 140 DOM
31. 2026-10-03
    days on market $223,900 Active 139 DOM
32. 2026-10-02
    days on market $223,900 Active 138 DOM
33. 2026-10-01
    days on market $223,900 Active 137 DOM
34. 2026-09-30
    days on market $223,900 Active 136 DOM
35. 2026-09-29
    days on market $223,900 Active 135 DOM
36. 2026-09-28
    days on market $223,900 Active 134 DOM
37. 2026-09-27
    days on market $223,900 Active 133 DOM
38. 2026-09-25
    days on market $223,900 Active 131 DOM
39. 2026-09-24
    days on market $223,900 Active 130 DOM
40. 2026-09-23
    days on market $223,900 Active 129 DOM
41. 2026-09-22
    days on market $223,900 Active 128 DOM
42. 2026-09-21
    days on market $223,900 Active 127 DOM
43. 2026-09-20
    days on market $223,900 Active 126 DOM
44. 2026-09-19
    days on market $223,900 Active 125 DOM
45. 2026-09-18
    pricedays on market $223,900 Active 124 DOM
46. 2026-09-17
    days on market $229,000 Active 123 DOM
47. 2026-09-16
    days on market $229,000 Active 122 DOM
48. 2026-09-15
    days on market $229,000 Active 121 DOM
49. 2026-09-14
    days on market $229,000 Active 120 DOM
50. 2026-09-13
    days on market $229,000 Active 119 DOM

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

Taxation est. · year 1

• Rental income: $23,182
• − Mortgage interest: −$12,542
• − Property taxes: −$3,358
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − HOA: −$2,100
• − Depreciation: −$6,513
• Taxable loss: −$6,161
• Est. tax savings @ 24.0%: +$1,479
• After-tax cash flow: $-876/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $7,810–$23,430 screening

This move-in ready townhome features a spacious open-concept layout with modern finishes and a well-maintained exterior. Minor touch-ups, such as painting the interior walls and cleaning the HVAC filter, can further enhance its value.

Value-add opportunities

• Both Paint the interior walls — Fresh paint can make the interior look new and improve curb appeal. ↑
• Both Replace the HVAC filter — A clean filter ensures efficient heating and cooling, improving comfort and energy efficiency. ↑

ⓘ 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%
• 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

• Financial info: Pets allowed
• HOA & community: Part of Canyon Landing Townhome association managed by Edge Property ManagementMonthly HOA fee of $175 covering grounds maintenance and snow removal

Exterior

• Parking: Attached two-car garage
• Utilities: Public waterPublic sewer
• Home design: Two-story propertyAsphalt shingle roof
• Construction: Poured slab foundation
• Exterior features: Concrete road accessZoned residential

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove
• Flooring: Carpet
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Central air conditioningElectric heatingForced airNatural gas heating
• Interior features: Window treatmentsOne electric fireplace
• Laundry & utility: WasherDryerLaundry on upper level

Price history

-7.9% since first listed

6 events — show timeline

• 2026-06-29 Price Changed $234,900 DMMLS
• 2026-05-15 Listed $238,990 DMMLS
• 2023-08-29 Sold (MLS) $238,990 DMMLS
• 2023-07-10 Pending — DMMLS
• 2023-05-31 Price Changed $249,990 DMMLS
• 2023-04-10 Listed $254,990 DMMLS