3112 NE Chandler Ln · Ankeny, IA 50021

$223,000

3 bd · 2.5 ba · 1,473 sqft · Townhouse public records · 79 Days on market

Built 2019 1,308 sqft lot $151/sqft · 9% below area Est $245k · 9% under $230/mo HOA · 13% of rent

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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 +11.5/15.0
• Schools +7.1/10.0
• Cash flow +6.4/30.0
• Livability +4.6/5.0
• 1% rule +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Thoughtfully designed and well maintained, this 3-bedroom, 2.5-bath townhome in the desirable Deer Creek community offers a great mix of style and everyday functionality. The main level features a bright, open-concept layout where the living, dining, and kitchen spaces flow together, highlighted by a shiplap electric fireplace and a clean, modern kitchen with quartz countertops, white cabinetry, subway tile backsplash, and stainless steel appliances, along with easy access to the patio. Upstairs, the primary suite offers a spacious layout with a walk-in closet and en-suite bath, along with two additional bedrooms, a full bath, and a conveniently located laundry room. Enjoy low-maintenance living with HOA-covered lawn care and snow removal. Ideally located just minutes from I-35 with quick access to schools, shopping, dining, and trails, this home makes everyday living easy and convenient. BUYER INCENTIVE: Seller to pay the HOA initiation fee and monthly HOA dues through the end of 2026.

Key facts

• Quartz countertops
• Modern kitchen
• White cabinetry

Tags

• OPEN-CONCEPT LAYOUT
• SHIPLAP ELECTRIC FIREPLACE
• MODERN KITCHEN
• QUARTZ COUNTERTOPS
• WHITE CABINETRY
• SUBWAY TILE BACKSPLASH

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $223k.

Deal economics

• At list price, monthly cash flow is $-382 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (30.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (19.6% below list).
• Recommended offer: $155k (30.3% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $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 79 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $155,480 (30.3% 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 79 days. Have you received any prior offers? Is the seller open to a 30% 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: 0.80% ✗
• Cap rate: 4.24%
• Cash-on-cash: -7.35%
• DSCR: 0.67
• GRM: 10.4

CMA / ARV

• ARV (median comp): $244,618
• List price: $223,000
• Delta: -8.84%
• 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
234 NE Meadow Ln	0.03mi	3/2.5	1,473 (0%)	0mo	$232,000	$158	98
3110 NE 2nd Ln	0.05mi	3/2.5	1,473 (0%)	1mo	$216,500	$147	97
246 NE Meadow Ln	0.03mi	3/2.5	1,481 (+0%)	3mo	$234,900	$159	96
301 NE Meadow Ln	0.04mi	4/3.0 (+1)	1,509 (+2%)	1mo	$369,000	$245	86
3202 NE 4th Ln	0.10mi	4/3.0 (+1)	1,505 (+2%)	1mo	$383,000	$254	84
310 NE Meadow Ln	0.06mi	4/3.0 (+1)	1,509 (+2%)	4mo	$369,000	$245	83
596 NE Hart Ln	0.38mi	3/2.5	1,376 (-7%)	1mo	$249,900	$182	71
210 NE Doe Pointe Ln	0.74mi	3/2.5	1,500 (+2%)	2mo	$289,900	$193	61
202 NE Doe Pointe Ln	0.74mi	3/2.5	1,500 (+2%)	2mo	$299,900	$200	60
206 NE Doe Pointe Ln	0.74mi	3/2.5	1,500 (+2%)	3mo	$289,900	$193	60
602 NE Hart Ln	0.40mi	2/2.5 (-1)	1,328 (-10%)	1mo	$249,990	$188	59
4220 NE Timber Ln	0.74mi	3/3.5	1,500 (+2%)	3mo	$320,000	$213	56

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: -31.8%
• Equity multiple: -0.02×
• Total profit: $-63,969
• Equity at exit: $33,250

10-year hold

• IRR: -52.8%
• Equity multiple: -0.61×
• Total profit: $-100,759
• Equity at exit: $19,281

Cash invested: $62,440 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$1,169
• Tax from tax record: −$306 /mo · $3,668/yr
• Insurance: −$93
• HOA: −$230
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-382

Break-even live

Break-even rent $2,276

Max offer price $155,480

Occupancy floor —

Sensitivity live

Price	-10% $-256	-5% $-319	+0% $-382	+5% $-445	+10% $-508
Rent	-10% $-524	-5% $-453	+0% $-382	+5% $-311	+10% $-241
Rate	-1.0pp $-270	-0.5pp $-325	base $-382	+0.5pp $-440	+1.0pp $-499

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	45d	1	0.54mi
221 NE Crossing Oaks Dr Ankeny, IA	4.0	2.5	1709	$2,195	$1.28	16d	1	0.88mi
4342 NE Spear Ln Unit 4342 Ankeny, IA	3.0	2.5	1511	$1,850	$1.22	45d	1	0.91mi
4311 NE 16th St Ankeny, IA	4.0	2.5	1762	$2,395	$1.36	16d	1	1.08mi
1103 NE 7th Ln Ankeny, IA	3.0	3.0	1350	$1,795	$1.33	16d	1	1.15mi
1108 NE 7th Ln Ankeny, IA	2.0	3.0	1106	$1,550	$1.40	16d	1	1.16mi
1011 SE 3rd St #15 Ankeny, IA	2.0	1.0	900	$895	$0.99	45d	1	1.22mi
1011 SE 3rd St #7 Ankeny, IA	2.0	1.0	900	$945	$1.05	20d	1	1.22mi
1122 SE Mill Pond Ct Ankeny, IA	2.0	2.5	1162	$1,495	$1.29	45d	1	1.25mi
1219 NE Windsor Dr Unit 1219-208 Ankeny, IA	2.0	2.0	1091	$1,350	$1.24	46d	1	1.27mi
1211 NE Windsor Dr #208 Ankeny, IA	2.0	2.0	1048	$995	$0.95	45d	1	1.32mi
4200 NE 17th Ln Ankeny, IA	3.0	2.5	1418	$1,818	$1.28	16d	3	1.41mi

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: electriclandscapingsnow removal

Listing history 25 events

1. 2026-06-21
   days on market $223,000 Active 79 DOM
2. 2026-06-18
   days on market $223,000 Active 76 DOM
3. 2026-06-17
   days on market $223,000 Active 75 DOM
4. 2026-06-16
   days on market $223,000 Active 74 DOM
5. 2026-06-15
   days on market $223,000 Active 73 DOM
6. 2026-06-14
   days on market $223,000 Active 71 DOM
7. 2026-06-13
   pricedays on market $223,000 Active 70 DOM
8. 2026-06-10
   days on market $226,500 Active 68 DOM
9. 2026-06-09
   days on market $226,500 Active 67 DOM
10. 2026-06-08
    days on market $226,500 Active 66 DOM
11. 2026-06-07
    days on market $226,500 Active 65 DOM
12. 2026-06-03
    days on market $226,500 Active 61 DOM
13. 2026-06-02
    days on market $226,500 Active 60 DOM
14. 2026-06-01
    days on market $226,500 Active 59 DOM
15. 2026-05-31
    days on market $226,500 Active 58 DOM
16. 2026-05-31
    days on market $226,500 Active 57 DOM
17. 2026-05-08
    price $226,500 1001-char remark

    Show marketing remark (1001 chars)

    Thoughtfully designed and well maintained, this 3-bedroom, 2.5-bath townhome in the desirable Deer Creek community offers a great mix of style and everyday functionality. The main level features a bright, open-concept layout where the living, dining, and kitchen spaces flow together, highlighted by a shiplap electric fireplace and a clean, modern kitchen with quartz countertops, white cabinetry, subway tile backsplash, and stainless steel appliances, along with easy access to the patio. Upstairs, the primary suite offers a spacious layout with a walk-in closet and en-suite bath, along with two additional bedrooms, a full bath, and a conveniently located laundry room. Enjoy low-maintenance living with HOA-covered lawn care and snow removal. Ideally located just minutes from I-35 with quick access to schools, shopping, dining, and trails, this home makes everyday living easy and convenient. BUYER INCENTIVE: Seller to pay the HOA initiation fee and monthly HOA dues through the end of 2026.

18. 2026-04-30
    price $229,000 1001-char remark

    Show marketing remark (1001 chars)

    Thoughtfully designed and well maintained, this 3-bedroom, 2.5-bath townhome in the desirable Deer Creek community offers a great mix of style and everyday functionality. The main level features a bright, open-concept layout where the living, dining, and kitchen spaces flow together, highlighted by a shiplap electric fireplace and a clean, modern kitchen with quartz countertops, white cabinetry, subway tile backsplash, and stainless steel appliances, along with easy access to the patio. Upstairs, the primary suite offers a spacious layout with a walk-in closet and en-suite bath, along with two additional bedrooms, a full bath, and a conveniently located laundry room. Enjoy low-maintenance living with HOA-covered lawn care and snow removal. Ideally located just minutes from I-35 with quick access to schools, shopping, dining, and trails, this home makes everyday living easy and convenient. BUYER INCENTIVE: Seller to pay the HOA initiation fee and monthly HOA dues through the end of 2026.

19. 2026-04-03
    listed $229,900 Active 1001-char remark

    Show marketing remark (1001 chars)

    Thoughtfully designed and well maintained, this 3-bedroom, 2.5-bath townhome in the desirable Deer Creek community offers a great mix of style and everyday functionality. The main level features a bright, open-concept layout where the living, dining, and kitchen spaces flow together, highlighted by a shiplap electric fireplace and a clean, modern kitchen with quartz countertops, white cabinetry, subway tile backsplash, and stainless steel appliances, along with easy access to the patio. Upstairs, the primary suite offers a spacious layout with a walk-in closet and en-suite bath, along with two additional bedrooms, a full bath, and a conveniently located laundry room. Enjoy low-maintenance living with HOA-covered lawn care and snow removal. Ideally located just minutes from I-35 with quick access to schools, shopping, dining, and trails, this home makes everyday living easy and convenient. BUYER INCENTIVE: Seller to pay the HOA initiation fee and monthly HOA dues through the end of 2026.

20. 2020-04-01
    soldstatus $194,000
21. 2020-03-30
    soldstatus $193,900 643-char remark

    Show marketing remark (643 chars)

    Introducing Greenland Homes new townhouses in Deer Creek! This fully loaded 3 bed 2.5 bath two story interior unit has it all. Relax and enjoy the main living area with a beautiful shiplap fireplace. The kitchen has Quartz countertops with backsplash, and all appliances included. Upstairs you will find 3 spacious bedrooms and 2 full bathrooms. The master bedroom has a huge walk-in closet and a private bath. Washer and dryer included makes this home too good to be true. Easy commute to surrounding schools, shopping center, restaurants, and walking trails. Ask about our special financing through preferred lender. 2 year Builder Warranty.

22. 2020-03-30
    soldstatus $193,900 Closed

    Show marketing remark (643 chars)

    Introducing Greenland Homes new townhouses in Deer Creek! This fully loaded 3 bed 2.5 bath two story interior unit has it all. Relax and enjoy the main living area with a beautiful shiplap fireplace. The kitchen has Quartz countertops with backsplash, and all appliances included. Upstairs you will find 3 spacious bedrooms and 2 full bathrooms. The master bedroom has a huge walk-in closet and a private bath. Washer and dryer included makes this home too good to be true. Easy commute to surrounding schools, shopping center, restaurants, and walking trails. Ask about our special financing through preferred lender. 2 year Builder Warranty.

23. 2020-03-05
    status Pending
24. 2019-12-17
    listed $193,900 643-char remark

    Show marketing remark (643 chars)

    Introducing Greenland Homes new townhouses in Deer Creek! This fully loaded 3 bed 2.5 bath two story interior unit has it all. Relax and enjoy the main living area with a beautiful shiplap fireplace. The kitchen has Quartz countertops with backsplash, and all appliances included. Upstairs you will find 3 spacious bedrooms and 2 full bathrooms. The master bedroom has a huge walk-in closet and a private bath. Washer and dryer included makes this home too good to be true. Easy commute to surrounding schools, shopping center, restaurants, and walking trails. Ask about our special financing through preferred lender. 2 year Builder Warranty.

25. 2019-12-17
    listed $193,900 Active

    Show marketing remark (643 chars)

    Introducing Greenland Homes new townhouses in Deer Creek! This fully loaded 3 bed 2.5 bath two story interior unit has it all. Relax and enjoy the main living area with a beautiful shiplap fireplace. The kitchen has Quartz countertops with backsplash, and all appliances included. Upstairs you will find 3 spacious bedrooms and 2 full bathrooms. The master bedroom has a huge walk-in closet and a private bath. Washer and dryer included makes this home too good to be true. Easy commute to surrounding schools, shopping center, restaurants, and walking trails. Ask about our special financing through preferred lender. 2 year Builder Warranty.

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

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $3,668 · $306/mo
• Projected year-2 tax: $3,668 · $306/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥102°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: $21,506
• − Mortgage interest: −$12,491
• − Property taxes: −$3,668
• − Insurance: −$1,115
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$2,760
• − Depreciation: −$6,487
• Taxable loss: −$8,457
• Est. tax savings @ 24.0%: +$2,030
• After-tax cash flow: $-2,557/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

+16.8% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $226,500 DMMLS
• 2026-04-30 Price Changed $229,000 DMMLS
• 2026-04-03 Listed $229,900 DMMLS
• 2020-04-01 Sold (Public Records) $194,000 Public Records
• 2020-03-30 Sold (MLS) $193,900 DMMLS
• 2020-03-30 Sold (MLS) $193,900 CIBOR
• 2020-03-05 Pending — DMMLS
• 2019-12-17 Listed $193,900 DMMLS
• 2019-12-17 Listed $193,900 CIBOR

Property tax history

+211.7%/yr

Latest (2025): $3,668 · +2.2% YoY. Source: county tax records.