4226 NE Mongoose Ln · Ankeny, IA 50021

$238,990

3 bd · 2.5 ba · 1,562 sqft · Condo public records · 35 Days on market

Built 2023 Good condition $175/mo HOA · 8% of rent ↓ 6% 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).

• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• DSCR +2.5/10.0
• 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

Property features AI

Finance

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

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story property; Asphalt shingle roof
• Construction: Poured slab foundation
• Exterior features: Concrete road access; Zoned residential

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Flooring: Carpet
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Electric heating; Forced air; Natural gas heating
• Interior features: Window treatments; One electric fireplace
• Laundry & utility: Washer; Dryer; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $239k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (13.0% below list).
• Recommended offer: $208k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: 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; 712 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 35 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 2 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 $207,840 (13.0% 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 35 days. Have you received any prior offers? Is the seller open to a 13% 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: 0.87% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.18×
• Total profit: $-54,611
• Equity at exit: $35,634

10-year hold

• IRR: -28.1%
• Equity multiple: -0.18×
• Total profit: $-78,907
• Equity at exit: $20,663

Cash invested: $66,917 (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: 712
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$175
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-185

Break-even live

Break-even rent $2,312

Max offer price $212,268

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-102	+0% $-185	+5% $-267	+10% $-350
Rent	-10% $-349	-5% $-267	+0% $-185	+5% $-103	+10% $-20
Rate	-1.0pp $-64	-0.5pp $-124	base $-185	+0.5pp $-247	+1.0pp $-310

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: $59,748
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	16d	1	0.16mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	46d	1	0.39mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	46d	1	0.72mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	16d	1	0.87mi
2820 NE 38th St Ankeny, IA	1.0–2.0	1.0–2.0	861	$1,775	$2.06	16d	10	1.45mi

HOA detail condo

• Monthly dues: $175 · $2,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $238,990 Active 35 DOM
2. 2026-06-18
   days on market $238,990 Active 32 DOM
3. 2026-06-17
   days on market $238,990 Active 31 DOM
4. 2026-06-16
   days on market $238,990 Active 30 DOM
5. 2026-06-15
   days on market $238,990 Active 29 DOM
6. 2026-06-14
   days on market $238,990 Active 27 DOM
7. 2026-06-13
   days on market $238,990 Active 26 DOM
8. 2026-06-10
   days on market $238,990 Active 24 DOM
9. 2026-06-09
   days on market $238,990 Active 23 DOM
10. 2026-06-08
    days on market $238,990 Active 22 DOM
11. 2026-06-07
    days on market $238,990 Active 21 DOM
12. 2026-06-03
    days on market $238,990 Active 17 DOM
13. 2026-06-02
    days on market $238,990 Active 16 DOM
14. 2026-06-01
    days on market $238,990 Active 15 DOM
15. 2026-05-31
    days on market $238,990 Active 14 DOM
16. 2026-05-31
    days on market $238,990 Active 13 DOM
17. 2026-05-15
    listed $238,990 Active
18. 2023-08-29
    soldstatus $238,990 Closed 1172-char remark

    Show marketing remark (1172 chars)

    * 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.

19. 2023-07-10
    status Pending 1172-char remark

    Show marketing remark (1172 chars)

    * 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.

20. 2023-05-31
    price $249,990 1172-char remark

    Show marketing remark (1172 chars)

    * 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.

21. 2023-04-10
    listed $254,990 Active 1172-char remark

    Show marketing remark (1172 chars)

    * 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.

ⓘ 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: $24,941
• − Mortgage interest: −$13,387
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − HOA: −$2,100
• − Depreciation: −$6,952
• Taxable loss: −$6,269
• Est. tax savings @ 24.0%: +$1,505
• After-tax cash flow: $-711/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

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.

Renovation cost estimate screening

Value-add ROI direction

• 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. ↑

ⓘ 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

-6.3% since first listed

5 events — show timeline

• 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