202 NE Whitetail Ln · Ankeny, IA 50021

$254,900

3 bd · 2.5 ba · 1,534 sqft · Townhouse public records · 103 Days on market

Built 2023 Good condition 1,413 sqft lot $166/sqft · at area comps Est $261k · at est. $175/mo HOA · 8% of rent ↓ 2% 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 +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

* * * LIMITED TIME OPPORTUNITY * * * SELLERS ARE OFFERING $10,00 IN SELLERS CONCESSIONS WITH AN ACCEPTABLE OFFER-USE IT TOWARDS CLOSING COSTS OR TO BUY DOWN YOUR INTREST RATE. SUBMIT OFFER BY MAY 15, 2026 RENTAL OPTION AVAILABLE $1,925/month | $2,000 deposit 1-year lease | $200 per pet (non-refundable) Welcome to this well-maintained 3 bedroom, 2.5 bath corner townhome offering 1,534 sq. ft. of comfortable living in a prime Ankeny location, Backing to a pond, this home provides added privacy and a peaceful setting. Inside, enjoy quartz countertops, lots of natural light, and smart features including a Nest thermostat and Google doorbell. The home comes with all appliances, making it truly move-in ready. Conveniently located near shopping, dining, and everyday essentials including Target and Costco. The HOA helps maintain the exterior and common areas, allowing for a low-maintenance living. A great opportunity to enjoy space, location and convenience all in one.

Key facts

• Move-in ready
• Corner townhome
• Quartz countertops

Tags

• CORNER TOWNHOME
• BACKING TO A POND
• QUARTZ COUNTERTOPS
• SMART FEATURES
• MOVE-IN READY
• LOW-MAINTENANCE LIVING

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 $-292 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (18.4% below list).
• Recommended offer: $208k (18.4% 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 45d 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 103 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 3 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 $208,109 (18.4% 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 103 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: -4.92%
• DSCR: 0.78
• GRM: 10.2

CMA / ARV

• ARV (median comp): $260,805
• List price: $254,900
• Delta: -2.26%
• 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
103 NE Doe Pointe Ln	0.21mi	3/2.5	1,546 (+1%)	1mo	$269,900	$175	88
210 NE Doe Pointe Ln	0.18mi	3/2.5	1,500 (-2%)	2mo	$289,900	$193	86
202 NE Doe Pointe Ln	0.18mi	3/2.5	1,500 (-2%)	2mo	$299,900	$200	86
4411 NE Spear Ln	0.58mi	3/3.0	1,511 (-2%)	2mo	$229,990	$152	67
4342 NE Spear Ln	0.58mi	3/3.0	1,511 (-2%)	2mo	$227,490	$151	67
3110 NE 2nd Ln	0.56mi	3/2.5	1,473 (-4%)	1mo	$216,500	$147	66
4228 NE Timber Ln	0.16mi	4/2.5 (+1)	1,720 (+12%)	1mo	$277,000	$161	66
234 NE Meadow Ln	0.59mi	3/2.5	1,473 (-4%)	0mo	$232,000	$158	65
3202 NE 4th Ln	0.55mi	4/3.0 (+1)	1,505 (-2%)	0mo	$383,000	$254	64
301 NE Meadow Ln	0.57mi	4/3.0 (+1)	1,509 (-2%)	1mo	$369,000	$245	63
596 NE Hart Ln	0.42mi	3/2.5	1,376 (-10%)	0mo	$249,900	$182	63
602 NE Hart Ln	0.43mi	2/2.5 (-1)	1,328 (-13%)	1mo	$249,990	$188	52

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: -27.2%
• Equity multiple: 0.10×
• Total profit: $-64,062
• Equity at exit: $38,006

10-year hold

• IRR: -35.7%
• Equity multiple: -0.35×
• Total profit: $-96,001
• 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: $2,081 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: $-292

Break-even live

Break-even rent $2,451

Max offer price $212,575

Occupancy floor —

Sensitivity live

Price	-10% $-116	-5% $-204	+0% $-292	+5% $-381	+10% $-469
Rent	-10% $-457	-5% $-375	+0% $-292	+5% $-210	+10% $-128
Rate	-1.0pp $-164	-0.5pp $-228	base $-292	+0.5pp $-359	+1.0pp $-426

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	44d	1	0.29mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	15d	1	0.33mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	44d	1	0.61mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	15d	1	0.84mi

HOA detail

• Monthly dues: $175 · $2,100/yr

Listing history 14 events

1. 2026-06-02
   days on market $254,900 Active 103 DOM
2. 2026-06-01
   days on market $254,900 Active 102 DOM
3. 2026-05-31
   days on market $254,900 Active 101 DOM
4. 2026-05-31
   days on market $254,900 Active 100 DOM
5. 2026-04-21
   price $254,900 990-char remark

   Show marketing remark (990 chars)

   * * * LIMITED TIME OPPORTUNITY * * * SELLERS ARE OFFERING $10,00 IN SELLERS CONCESSIONS WITH AN ACCEPTABLE OFFER-USE IT TOWARDS CLOSING COSTS OR TO BUY DOWN YOUR INTREST RATE. SUBMIT OFFER BY MAY 15, 2026 RENTAL OPTION AVAILABLE $1,925/month | $2,000 deposit 1-year lease | $200 per pet (non-refundable) Welcome to this well-maintained 3 bedroom, 2.5 bath corner townhome offering 1,534 sq. ft. of comfortable living in a prime Ankeny location, Backing to a pond, this home provides added privacy and a peaceful setting. Inside, enjoy quartz countertops, lots of natural light, and smart features including a Nest thermostat and Google doorbell. The home comes with all appliances, making it truly move-in ready. Conveniently located near shopping, dining, and everyday essentials including Target and Costco. The HOA helps maintain the exterior and common areas, allowing for a low-maintenance living. A great opportunity to enjoy space, location and convenience all in one.

6. 2026-04-02
   price $264,900 990-char remark

   Show marketing remark (990 chars)

   * * * LIMITED TIME OPPORTUNITY * * * SELLERS ARE OFFERING $10,00 IN SELLERS CONCESSIONS WITH AN ACCEPTABLE OFFER-USE IT TOWARDS CLOSING COSTS OR TO BUY DOWN YOUR INTREST RATE. SUBMIT OFFER BY MAY 15, 2026 RENTAL OPTION AVAILABLE $1,925/month | $2,000 deposit 1-year lease | $200 per pet (non-refundable) Welcome to this well-maintained 3 bedroom, 2.5 bath corner townhome offering 1,534 sq. ft. of comfortable living in a prime Ankeny location, Backing to a pond, this home provides added privacy and a peaceful setting. Inside, enjoy quartz countertops, lots of natural light, and smart features including a Nest thermostat and Google doorbell. The home comes with all appliances, making it truly move-in ready. Conveniently located near shopping, dining, and everyday essentials including Target and Costco. The HOA helps maintain the exterior and common areas, allowing for a low-maintenance living. A great opportunity to enjoy space, location and convenience all in one.

7. 2026-02-19
   listed $269,900 Active 990-char remark

   Show marketing remark (990 chars)

   * * * LIMITED TIME OPPORTUNITY * * * SELLERS ARE OFFERING $10,00 IN SELLERS CONCESSIONS WITH AN ACCEPTABLE OFFER-USE IT TOWARDS CLOSING COSTS OR TO BUY DOWN YOUR INTREST RATE. SUBMIT OFFER BY MAY 15, 2026 RENTAL OPTION AVAILABLE $1,925/month | $2,000 deposit 1-year lease | $200 per pet (non-refundable) Welcome to this well-maintained 3 bedroom, 2.5 bath corner townhome offering 1,534 sq. ft. of comfortable living in a prime Ankeny location, Backing to a pond, this home provides added privacy and a peaceful setting. Inside, enjoy quartz countertops, lots of natural light, and smart features including a Nest thermostat and Google doorbell. The home comes with all appliances, making it truly move-in ready. Conveniently located near shopping, dining, and everyday essentials including Target and Costco. The HOA helps maintain the exterior and common areas, allowing for a low-maintenance living. A great opportunity to enjoy space, location and convenience all in one.

8. 2025-04-04
   historical
9. 2025-03-06
   price $265,900
10. 2025-02-04
    listed $270,000 Active
11. 2024-01-09
    soldstatus $260,000
12. 2024-01-05
    soldstatus $260,000 Closed
13. 2023-11-27
    status Pending
14. 2023-08-07
    listed $260,000 Active

ⓘ 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: $24,973
• − Mortgage interest: −$14,278
• − Property taxes: −$3,824
• − Insurance: −$1,274
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − HOA: −$2,100
• − Depreciation: −$7,415
• Taxable loss: −$7,914
• Est. tax savings @ 24.0%: +$1,899
• After-tax cash flow: $-1,611/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 3-bedroom townhome offers a good condition with modern amenities and smart features, ready for immediate occupancy.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Smart home integration — Improves convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Smart home integration — Improves convenience and adds modern appeal ↑

ⓘ 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

-2.0% since first listed

10 events — show timeline

• 2026-04-21 Price Changed $254,900 DMMLS
• 2026-04-02 Price Changed $264,900 DMMLS
• 2026-02-19 Listed $269,900 DMMLS
• 2025-04-04 Listing Removed — DMMLS
• 2025-03-06 Price Changed $265,900 DMMLS
• 2025-02-04 Listed $270,000 DMMLS
• 2024-01-09 Sold (Public Records) $260,000 Public Records
• 2024-01-05 Sold (MLS) $260,000 DMMLS
• 2023-11-27 Pending — DMMLS
• 2023-08-07 Listed $260,000 DMMLS