640/642 W 61st St · Davenport, IA 52806

$160,000

4 bd · 2.5 ba · 1,536 sqft · MultiFamily public records · 18 Days on market

Built 1979 10,430 sqft lot

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Why this score? — see what drove the C- 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Ranch duplex 2 bedroom 1 bath with 2 car garage property sold" as is"24 hr notice to show com box on door

Key facts

• 0.24 acre lot
• 2 parking spots
• Built 1979

Property features AI

Finance

• Financial info: $925 total rent reported for one unit (as listed)
• HOA & community: Association fee billed annually

Exterior

• Parking: 2 parking spaces total
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential multi-family property; Single-story building
• Construction: Vinyl siding and frame construction
• Exterior features: Front porch; Sloped lot; Sidewalks in the community

Interior

• Kitchen: Refrigerator included
• Bedrooms: Units include living room and dining room configurations (varies by unit)
• Flooring: Laminate
• Bathrooms: Some units have 1 bathroom; no half or 3/4 baths reported in unit descriptions
• Heating & cooling: Central air conditioning; Heating by electric and natural gas with forced air
• Interior features: Refrigerator, Washer, Dryer included; Laminate flooring; No fireplace
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive. Per door: $113/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.4% in Davenport — 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 79/100 on livability (#126 in IA, #2,312 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F.
• Davenport Community School District (urban): math 43% / reading 50% proficiency, ranked #288 of 289 in IA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 162 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Scott County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $157,600 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-13,628
• Equity at exit: $23,857

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,655
• Equity at exit: $13,834

Cash invested: $44,800 (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 52806

• Rents YoY: 1.8%
• Active inventory: 162
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$839
• Tax from tax record: −$299 /mo · $3,582/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $226

Break-even live

Break-even rent $1,524

Max offer price $160,000

Occupancy floor 83%

Sensitivity live

Price	-10% $316	-5% $271	+0% $226	+5% $180	+10% $135
Rent	-10% $83	-5% $154	+0% $226	+5% $297	+10% $369
Rate	-1.0pp $306	-0.5pp $266	base $226	+0.5pp $184	+1.0pp $142

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,810
Total (2 units)			$1,810

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5337 Villa Dr Davenport, IA	2.0–3.0	2.5	1650	$2,045	$1.24	14d	1	0.97mi
105 Colony Dr Davenport, IA	3.0	2.5	1500	$1,700	$1.13	45d	1	1.22mi

Listing history 13 events

1. 2026-06-21
   days on market $160,000 Active 18 DOM
2. 2026-06-18
   days on market $160,000 Active 15 DOM
3. 2026-06-17
   days on market $160,000 Active 14 DOM
4. 2026-06-16
   days on market $160,000 Active 13 DOM
5. 2026-06-15
   days on market $160,000 Active 12 DOM
6. 2026-06-14
   days on market $160,000 Active 10 DOM
7. 2026-06-13
   days on market $160,000 Active 9 DOM
8. 2026-06-10
   days on market $160,000 Active 7 DOM
9. 2026-06-09
   days on market $160,000 Active 6 DOM
10. 2026-06-08
    days on market $160,000 Active 5 DOM
11. 2026-06-07
    pricedays on market $160,000 Active 4 DOM
12. 2026-06-03
    remarks 237-char remark
13. 2026-06-03
    listed $155,000 Active 1 DOM

ⓘ 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: $3,582 · $299/mo
• Projected year-2 tax: $3,582 · $299/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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,720
• − Mortgage interest: −$8,962
• − Property taxes: −$3,582
• − Insurance: −$800
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$4,655
• Taxable income: $245
• Est. tax owed @ 24.0%: −$59
• After-tax cash flow: $2,649/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: Davenport Community School District
• NCES district ID: 1908580
• Math proficiency: 43% ▼ -11.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $46,157
• Composite: 39.49/100
• National rank: #3951
• State rank: #288 of 289 in IA

Livability — Davenport

• Score: 79/100
• State rank: #126
• US rank: #2312

Category grades

Amenities A Commute B+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Davenport, IA
• County: Scott County · 144,583 people
• City population: 103,319
• Metro: Davenport-Moline-Rock Island, IA-IL
• Population (ZIP): 26,871
• Household income: $74,297
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 735.0

Population outlook (Scott County) Hauer SSP2

• Today (2025): 188,878 people
• By 2030: 196,648 · +4.1%
• By 2040: 210,860 · +11.6%
• By 2050: 224,359 · +18.8%
• By 2075: 258,884 · +37.1%
• By 2100: 286,447 · +51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Vietnamese 1% Chinese 1%

Political lean MEDSL · Scott

• 2024 margin: Toss-up / Even · D 47.3% · R 51.2% · Other 1.4%
• 2008→2024 swing: -18.4pp toward R · 2008: 14.6pp · 2024: -3.9pp
• All cycles: 2024: R+3.9 2020: D+3.5 2016: D+1.4 2012: D+13.8 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.41%
• Current HPI: 185.0808
• Rent YoY: ▲ 1.80%
• Metro: Davenport-Moline-Rock Island, IA-IL
• 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

+40.9% since first listed

14 events — show timeline

• 2026-06-03 Listed $155,000 ICAARMLS
• 2025-06-05 Sold (Public Records) $146,000 Public Records
• 2025-04-30 Sold (MLS) $146,000 RMLSA as Distributed by MLS Grid
• 2025-04-30 Sold (MLS) $146,000 MRED as Distributed by MLS Grid
• 2025-01-21 Pending — RMLSA as Distributed by MLS Grid
• 2025-01-13 Listed $149,900 RMLSA as Distributed by MLS Grid
• 2025-01-13 Listed $149,900 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2008-05-27 Sold (MLS) $40,000 MRED as Distributed by MLS Grid
• 2008-05-27 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2008-04-16 Listed $63,000 MRED as Distributed by MLS Grid
• 2008-04-16 Listed $63,000 RMLSA as Distributed by MLS Grid
• 2007-03-01 Listing Removed — MRED as Distributed by MLS Grid
• 2006-05-25 Sold (Public Records) $110,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $3,582 · +12.7% YoY. Source: county tax records.