603 Leclaire St · Davenport, IA 52803

$89,500

3 bd · 1.0 ba · 1,625 sqft · SingleFamily public records

Built 1890 5,227 sqft lot Est $83k · 8% over

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• ARV discount +3.9/15.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attn Investors!! Tenant occupied rental property. Tenant pays $1,700/mo. Tenants pay all utilities and do their own lawncare and snow removal. Can be purchased as individual rental property or as a package deal. Here are all of the listings included in the package deal: QC4268668, QC4268952, QC4268671, QC4267866, QC42687901, QC4267134, QC4267185. Sellers are motivated and willing to consider selling on contract or doing some creative financing. Schedule your showing today! 48hr notice required to show. Agent is licensed in IA & IL and is manager of 2MK Investment Group IA LLC

Key facts

• 5,227 sq ft lot
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 14.4% 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 fast (+4.6%/yr); 160 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $619 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,500

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.77% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.87%
• DSCR: 2.28
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $82,875
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 Leclaire St	0.00mi	3/1.0	1,616 (-1%)	6mo	$83,000	$51	94
616 E 6th St	0.11mi	4/1.0 (+1)	1,578 (-3%)	4mo	$67,000	$42	82
715 Iowa St	0.12mi	3/2.0	1,710 (+5%)	1mo	$94,000	$55	81
1108 Arlington Ave	0.45mi	3/1.0	1,668 (+3%)	2mo	$99,999	$60	73
1127 N Ripley St St	0.67mi	4/1.0 (+1)	1,660 (+2%)	3mo	$93,000	$56	57
420 Kirkwood Blvd Blvd	0.73mi	3/1.5	1,582 (-3%)	4mo	$64,000	$40	56
1110 Oneida Ave	0.58mi	4/2.0 (+1)	1,764 (+9%)	0mo	$45,000	$26	49
1222 Pershing Ave	0.50mi	4/1.5 (+1)	1,800 (+11%)	3mo	$90,000	$50	49
1030 Oneida Ave	0.55mi	4/2.0 (+1)	1,386 (-15%)	12mo	$200,000	$144	31

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.06×
• Total profit: $26,485
• Equity at exit: $13,345

10-year hold

• IRR: 33.8%
• Equity multiple: 4.33×
• Total profit: $83,462
• Equity at exit: $7,738

Cash invested: $25,060 (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 52803

• Home prices YoY: -34.5%
• Rents YoY: 4.6%
• Active inventory: 160
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$469
• Tax from tax record: −$143 /mo · $1,714/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $603

Break-even live

Break-even rent $822

Max offer price $89,500

Occupancy floor 57%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	43d	1	0.11mi
511 Pershing Ave Unit 402W Davenport, IA	2.0	2.0	1106	$1,478	$1.34	43d	1	0.17mi
511 Pershing Ave Unit 102W Davenport, IA	2.0	1.0	1173	$1,506	$1.28	43d	1	0.17mi
511 Pershing Ave Unit 407W Davenport, IA	2.0	2.0	1175	$1,568	$1.33	43d	1	0.17mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	43d	1	0.17mi
511 Pershing Ave Unit 105E Davenport, IA	2.0	2.0	1100	$1,635	$1.49	43d	1	0.17mi
511 Pershing Ave Unit 106E Davenport, IA	3.0	2.0	1349	$1,996	$1.48	43d	1	0.17mi
511 Pershing Ave Unit 202W Davenport, IA	2.0	1.0	1201	$1,601	$1.33	43d	1	0.17mi
511 Pershing Ave Unit 101W Davenport, IA	2.0	1.0	1280	$1,704	$1.33	43d	1	0.17mi
427 Pershing Ave Davenport, IA	3.0	2.0	1438	$2,288	$1.59	13d	3	0.18mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,868	$1.57	20d	1	0.24mi
427 N Brady St Unit 1 Davenport, IA	3.0	1.5	1126	$1,359	$1.21	43d	1	0.31mi
200 E 3rd St Davenport, IA	1.0–2.0	1.0–2.0	900	$1,700	$1.89	13d	2	0.32mi
401 Brady St Davenport, IA	1.0–3.0	1.0–2.0	870	$2,100	$2.41	13d	2	0.35mi
324 S Brady St Davenport, IA	1.0–2.0	1.0–2.0	965	$1,700	$1.76	20d	2	0.39mi
212 N Brady St Davenport, IA	2.0–3.0	2.0–3.0	1428	$2,600	$1.82	13d	4	0.44mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	43d	1	0.55mi
1017 E 13th St Unit 1017 Davenport, IA	2.0	1.0	1335	$950	$0.71	20d	1	0.62mi
317 Kirkwood Blvd Davenport, IA	2.0	1.0	1300	$950	$0.73	43d	1	0.70mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	43d	1	0.70mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	20d	1	0.85mi
1519 N Ripley St Davenport, IA	2.0	1.0	1144	$1,100	$0.96	13d	1	0.86mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	20d	1	0.92mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	13d	1	0.96mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	43d	1	0.98mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	20d	1	0.99mi
1527 Fulton Ct Davenport, IA	4.0	2.0	1850	$1,775	$0.96	43d	1	1.07mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	43d	1	1.10mi
2224 Iowa St Unit 2224 Davenport, IA	2.0	1.0	1214	$925	$0.76	43d	1	1.13mi
2224 Iowa St Davenport, IA	2.0	1.0	1214	$895	$0.74	43d	1	1.13mi
2209 Farnam St Unit 2211 Davenport, IA	3.0	1.0	1138	$1,050	$0.92	20d	1	1.13mi

Listing history 22 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-01-15
   soldstatus $83,000
5. 2026-01-08
   status Pending
6. 2026-01-05
   historical
7. 2025-12-22
   soldstatus $83,000 Closed
8. 2025-12-22
   soldstatus $83,000 Closed
9. 2025-12-22
   soldstatus $83,000 Closed
10. 2025-12-22
    soldstatus $83,000 Closed
11. 2025-12-16
    status Pending
12. 2025-11-16
    historical
13. 2025-11-16
    historical
14. 2025-10-31
    listed $89,500
15. 2025-10-31
    listed Active
16. 2021-08-06
    historical
17. 2021-08-06
    historical
18. 2019-10-10
    historical
19. 2018-01-22
    soldstatus $37,500
20. 2005-02-23
    soldstatus $76,500
21. 2005-02-18
    soldstatus $76,675
22. 2004-04-05
    listed $79,900

ⓘ 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: $1,714 · $143/mo
• Projected year-2 tax: $1,714 · $143/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 ≥103°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: $19,024
• − Mortgage interest: −$5,013
• − Property taxes: −$1,714
• − Insurance: −$448
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$2,604
• Taxable income: $6,202
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $5,747/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): 22,742
• Household income: $64,543
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 630.0

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 (69%)
• Race & ethnicity: White 69% Black 14% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Portuguese 2% Iranian 2%
• Foreign-born: 5% · Canada, United Kingdom, South Korea
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -96.00%
• Current HPI: 182.0976
• Rent YoY: ▲ 4.57%
• 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

+3.9% since first listed

22 events — show timeline

• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-22 Pending — MRED as Distributed by MLS Grid
• 2026-01-15 Sold (Public Records) $83,000 Public Records
• 2026-01-08 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-22 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2025-12-22 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2025-12-22 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2025-12-22 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2025-12-16 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-16 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-16 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-31 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-31 Listed $89,500 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-10-10 Listing Removed — MRED as Distributed by MLS Grid
• 2018-01-22 Sold (Public Records) $37,500 Public Records
• 2005-02-23 Sold (Public Records) $76,500 Public Records
• 2005-02-18 Sold (MLS) $76,675 RMLSA as Distributed by MLS Grid
• 2004-04-05 Listed $79,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $1,714 · +2.5% YoY. Source: county tax records.