216 NE Country Meadow Ln · Ankeny, IA 50021

$293,000

3 bd · 2.5 ba · 1,526 sqft · Townhouse public records · 135 Days on market

Built 2022 2,176 sqft lot $192/sqft · 8% below area Est $320k · 8% under

---

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 +11.3/15.0
• Cash flow +7.3/30.0
• Schools +7.1/10.0
• Livability +4.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful two-story corner-lot townhouse offers 1,500 sq. ft. of finished living space, featuring 3 bedrooms and 2.5 baths with an inviting layout. It includes upgrades throughout including updated finishes and fresh neutral paint it sets this home apart from the standard new-build units, creating a brighter, more refined, and modern feel. The main level boasts 9 ft. ceilings and a light-filled great room with expansive picture windows. The kitchen is complete with quartz countertops, a functional island, pantry, and an adjacent dining area that opens directly to the deck. Upstairs, the primary suite provides a private retreat with vaulted ceilings, a generous walk-in closet, an en-suite bathroom, and its own exclusive balcony. Two additional bedrooms, a full bath, and a convenient laundry room complete the upper level. The lower level offers future potential with ample space and pre-plumbing for a bathroom, ready to be finished to fit your needs. Included with the home are all appliances (including washer and dryer), integrated SMART home technology, and a passive radon system.

Key facts

• Corner-lot townhouse
• Quartz countertops
• Updated finishes

Tags

• CORNER-LOT TOWNHOUSE
• UPDATED FINISHES
• LIGHT-FILLED GREAT ROOM
• EXPANSIVE PICTURE WINDOWS
• QUARTZ COUNTERTOPS
• FUNCTIONAL ISLAND

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $293k.

Deal economics

• At list price, monthly cash flow is $-392 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (19.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (29.4% below list).
• Recommended offer: $207k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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 $9k 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 135 days — a 12% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $206,738 (29.4% 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 135 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 4.69%
• Cash-on-cash: -5.73%
• DSCR: 0.75
• GRM: 11.8

CMA / ARV

• ARV (median comp): $320,004
• List price: $293,000
• Delta: -8.44%
• 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	0.04mi	3/2.5	1,500 (-2%)	2mo	$289,900	$193	94
103 NE Doe Pointe Ln	0.08mi	3/2.5	1,546 (+1%)	1mo	$269,900	$175	94
202 NE Doe Pointe Ln	0.04mi	3/2.5	1,500 (-2%)	2mo	$299,900	$200	93
4228 NE Timber Ln	0.05mi	4/2.5 (+1)	1,720 (+13%)	1mo	$277,000	$161	71
4411 NE Spear Ln	0.53mi	3/3.0	1,511 (-1%)	2mo	$229,990	$152	70
4342 NE Spear Ln	0.53mi	3/3.0	1,511 (-1%)	2mo	$227,490	$151	70
3110 NE 2nd Ln	0.70mi	3/2.5	1,473 (-4%)	1mo	$216,500	$147	61
234 NE Meadow Ln	0.73mi	3/2.5	1,473 (-4%)	0mo	$232,000	$158	60
596 NE Hart Ln	0.51mi	3/2.5	1,376 (-10%)	0mo	$249,900	$182	59
3202 NE 4th Ln	0.67mi	4/3.0 (+1)	1,505 (-1%)	0mo	$383,000	$254	59
301 NE Meadow Ln	0.71mi	4/3.0 (+1)	1,509 (-1%)	1mo	$369,000	$245	58
602 NE Hart Ln	0.51mi	2/2.5 (-1)	1,328 (-13%)	1mo	$249,990	$188	49

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: -28.4%
• Equity multiple: 0.07×
• Total profit: $-76,629
• Equity at exit: $43,687

10-year hold

• IRR: -38.2%
• Equity multiple: -0.41×
• Total profit: $-115,402
• Equity at exit: $25,333

Cash invested: $82,040 (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: 11.8×

Monthly cashflow live

• Estimated rent: $2,067 medium
• Mortgage (P&I): −$1,537
• Tax est. 1.5%: −$366 /mo · $4,395/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-392

Break-even live

Break-even rent $2,563

Max offer price $236,331

Occupancy floor —

Sensitivity live

Price	-10% $-189	-5% $-290	+0% $-392	+5% $-493	+10% $-594
Rent	-10% $-555	-5% $-473	+0% $-392	+5% $-310	+10% $-228
Rate	-1.0pp $-244	-0.5pp $-317	base $-392	+0.5pp $-468	+1.0pp $-545

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: $73,250
• Closing costs: $8,790
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	14d	1	0.16mi
604 NE Pearl Dr Ankeny, IA	3.0	2.0	1464	$2,395	$1.64	44d	1	0.31mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	44d	1	0.51mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	14d	1	0.75mi

Listing history 20 events

1. 2026-06-18
   days on market $293,000 Active 135 DOM
2. 2026-06-17
   days on market $293,000 Active 134 DOM
3. 2026-06-16
   days on market $293,000 Active 133 DOM
4. 2026-06-15
   days on market $293,000 Active 132 DOM
5. 2026-06-14
   days on market $293,000 Active 130 DOM
6. 2026-06-13
   days on market $293,000 Active 129 DOM
7. 2026-06-10
   days on market $293,000 Active 127 DOM
8. 2026-06-09
   days on market $293,000 Active 126 DOM
9. 2026-06-08
   days on market $293,000 Active 125 DOM
10. 2026-06-07
    pricedays on market $293,000 Active 124 DOM
11. 2026-06-03
    days on market $308,000 Active 120 DOM
12. 2026-06-02
    days on market $308,000 Active 119 DOM
13. 2026-06-01
    days on market $308,000 Active 118 DOM
14. 2026-05-31
    days on market $308,000 Active 117 DOM
15. 2026-05-31
    days on market $308,000 Active 116 DOM
16. 2026-02-16
    price $308,000 1100-char remark

    Show marketing remark (1100 chars)

    This beautiful two-story corner-lot townhouse offers 1,500 sq. ft. of finished living space, featuring 3 bedrooms and 2.5 baths with an inviting layout. It includes upgrades throughout including updated finishes and fresh neutral paint it sets this home apart from the standard new-build units, creating a brighter, more refined, and modern feel. The main level boasts 9 ft. ceilings and a light-filled great room with expansive picture windows. The kitchen is complete with quartz countertops, a functional island, pantry, and an adjacent dining area that opens directly to the deck. Upstairs, the primary suite provides a private retreat with vaulted ceilings, a generous walk-in closet, an en-suite bathroom, and its own exclusive balcony. Two additional bedrooms, a full bath, and a convenient laundry room complete the upper level. The lower level offers future potential with ample space and pre-plumbing for a bathroom, ready to be finished to fit your needs. Included with the home are all appliances (including washer and dryer), integrated SMART home technology, and a passive radon system.

17. 2026-02-03
    listed $312,000 Active 1100-char remark

    Show marketing remark (1100 chars)

    This beautiful two-story corner-lot townhouse offers 1,500 sq. ft. of finished living space, featuring 3 bedrooms and 2.5 baths with an inviting layout. It includes upgrades throughout including updated finishes and fresh neutral paint it sets this home apart from the standard new-build units, creating a brighter, more refined, and modern feel. The main level boasts 9 ft. ceilings and a light-filled great room with expansive picture windows. The kitchen is complete with quartz countertops, a functional island, pantry, and an adjacent dining area that opens directly to the deck. Upstairs, the primary suite provides a private retreat with vaulted ceilings, a generous walk-in closet, an en-suite bathroom, and its own exclusive balcony. Two additional bedrooms, a full bath, and a convenient laundry room complete the upper level. The lower level offers future potential with ample space and pre-plumbing for a bathroom, ready to be finished to fit your needs. Included with the home are all appliances (including washer and dryer), integrated SMART home technology, and a passive radon system.

18. 2023-05-01
    soldstatus $282,000 Closed 975-char remark

    Show marketing remark (975 chars)

    Destiny Homes presents their popular Bellevue floor plan in Ankeny's First Street Commons community. This two-story townhome boasts 3 bedrooms and 2.5 bathrooms. The main level offers 9 ft ceilings, a great room with large picture windows, a gorgeous kitchen with an island, quartz countertops, pantry, and a dining area with a slider to the deck. Upstairs you’ll find a spacious primary suite with a bathroom, large walk-in closet, and private balcony. You’ll also find two additional bedrooms, a full bathroom, and a convenient laundry room. The lower level is ready for future finish, including pre plumb for bath. There is a long list of standard features including; passive radon system, 2x6 construction, SMART Home Automation and 2 year builder warranty. Plus ALL appliances are included! Ask about $2,000 in closing costs provided by a preferred lender. Ask about $2,000 in closing costs provided by a preferred lender. Home is complete and move-in ready.

19. 2023-02-20
    status Pending 975-char remark

    Show marketing remark (975 chars)

    Destiny Homes presents their popular Bellevue floor plan in Ankeny's First Street Commons community. This two-story townhome boasts 3 bedrooms and 2.5 bathrooms. The main level offers 9 ft ceilings, a great room with large picture windows, a gorgeous kitchen with an island, quartz countertops, pantry, and a dining area with a slider to the deck. Upstairs you’ll find a spacious primary suite with a bathroom, large walk-in closet, and private balcony. You’ll also find two additional bedrooms, a full bathroom, and a convenient laundry room. The lower level is ready for future finish, including pre plumb for bath. There is a long list of standard features including; passive radon system, 2x6 construction, SMART Home Automation and 2 year builder warranty. Plus ALL appliances are included! Ask about $2,000 in closing costs provided by a preferred lender. Ask about $2,000 in closing costs provided by a preferred lender. Home is complete and move-in ready.

20. 2022-07-06
    listed $282,000 Active 975-char remark

    Show marketing remark (975 chars)

    Destiny Homes presents their popular Bellevue floor plan in Ankeny's First Street Commons community. This two-story townhome boasts 3 bedrooms and 2.5 bathrooms. The main level offers 9 ft ceilings, a great room with large picture windows, a gorgeous kitchen with an island, quartz countertops, pantry, and a dining area with a slider to the deck. Upstairs you’ll find a spacious primary suite with a bathroom, large walk-in closet, and private balcony. You’ll also find two additional bedrooms, a full bathroom, and a convenient laundry room. The lower level is ready for future finish, including pre plumb for bath. There is a long list of standard features including; passive radon system, 2x6 construction, SMART Home Automation and 2 year builder warranty. Plus ALL appliances are included! Ask about $2,000 in closing costs provided by a preferred lender. Ask about $2,000 in closing costs provided by a preferred lender. Home is complete and move-in ready.

ⓘ 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: $24,809
• − Mortgage interest: −$16,413
• − Property taxes: −$4,395
• − Insurance: −$1,465
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$8,524
• Taxable loss: −$9,957
• Est. tax savings @ 24.0%: +$2,390
• After-tax cash flow: $-2,310/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.

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

+9.2% since first listed

5 events — show timeline

• 2026-02-16 Price Changed $308,000 ForSaleByOwner.com
• 2026-02-03 Listed $312,000 ForSaleByOwner.com
• 2023-05-01 Sold (MLS) $282,000 DMMLS
• 2023-02-20 Pending — DMMLS
• 2022-07-06 Listed $282,000 DMMLS