1508 W Lombard St · Davenport, IA 52804

$125,000

5 bd · 2.5 ba · 1,390 sqft · SingleFamily public records · 112 Days on market

Built 1874 7,405 sqft lot $90/sqft · 32% below area Est $183k · 32% under

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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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this beautiful farm house in the middle of the city. This lovely historical 1 1/2 story home boasts 6 bedrooms and 2 bath. Enjoy the beautiful hardwood floors throughout. So much potential! Don't miss you chance to enjoy this gem!

Key facts

• 7,405 sq ft lot
• 4 parking spots
• Built 1874

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+4.0%/yr); 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 + 4.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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.
• Current owner paid $87k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1874 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.30% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 6.4

CMA / ARV

• ARV (median comp): $182,990
• List price: $125,000
• Delta: -31.69%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1820 W Hayes St	0.53mi	4/2.5 (-1)	1,503 (+8%)	11mo	$232,000	$154	48
1527 N Marquette St	0.52mi	4/1.5 (-1)	1,558 (+12%)	1mo	$80,444	$52	46
1034 W 14th St	0.68mi	4/1.5 (-1)	1,544 (+11%)	6mo	$140,000	$91	36

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 · 3.99% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,150
• Equity at exit: $18,638

10-year hold

• IRR: 12.3%
• Equity multiple: 2.02×
• Total profit: $35,673
• Equity at exit: $10,808

Cash invested: $35,000 (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 52804

• Home prices YoY: -25.3%
• Rents YoY: 4.0%
• Active inventory: 161
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,620 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$248 /mo · $2,971/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $325

Break-even live

Break-even rent $1,209

Max offer price $125,000

Occupancy floor 75%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	14d	1	0.91mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	21d	1	0.95mi
1716 W 7th St Davenport, IA	4.0	1.0	1278	$1,712	$1.34	14d	1	1.05mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	1.07mi

Listing history 30 events

1. 2026-06-18
   days on market $125,000 Active 112 DOM
2. 2026-06-17
   days on market $125,000 Active 111 DOM
3. 2026-06-16
   days on market $125,000 Active 110 DOM
4. 2026-06-15
   days on market $125,000 Active 109 DOM
5. 2026-06-14
   days on market $125,000 Active 107 DOM
6. 2026-06-13
   days on market $125,000 Active 106 DOM
7. 2026-06-10
   days on market $125,000 Active 104 DOM
8. 2026-06-09
   days on market $125,000 Active 103 DOM
9. 2026-06-08
   days on market $125,000 Active 102 DOM
10. 2026-06-07
    days on market $125,000 Active 101 DOM
11. 2026-06-03
    days on market $125,000 Active 97 DOM
12. 2026-06-02
    days on market $125,000 Active 96 DOM
13. 2026-06-01
    days on market $125,000 Active 95 DOM
14. 2026-05-31
    days on market $125,000 Active 94 DOM
15. 2026-05-30
    days on market $125,000 Active 93 DOM
16. 2026-02-26
    historical

    Show marketing remark (245 chars)

    Come check out this beautiful farm house in the middle of the city. This lovely historical 1 1/2 story home boasts 6 bedrooms and 2 bath. Enjoy the beautiful hardwood floors throughout. So much potential! Don't miss you chance to enjoy this gem!

17. 2026-02-26
    listed $125,000 Active 245-char remark

    Show marketing remark (245 chars)

    Come check out this beautiful farm house in the middle of the city. This lovely historical 1 1/2 story home boasts 6 bedrooms and 2 bath. Enjoy the beautiful hardwood floors throughout. So much potential! Don't miss you chance to enjoy this gem!

18. 2026-02-16
    listed Active
19. 2026-02-16
    historical
20. 2026-02-05
    listed Active
21. 2026-02-05
    historical
22. 2026-01-22
    listed Active
23. 2021-08-06
    historical
24. 2012-11-01
    soldstatus $87,000
25. 2012-09-28
    soldstatus $87,000
26. 2012-09-28
    soldstatus $87,000
27. 2012-03-26
    listed $91,000
28. 2012-03-26
    listed $91,000
29. 2002-03-25
    soldstatus $80,800
30. 2002-01-29
    listed $84,900

ⓘ 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: $2,971 · $248/mo
• Projected year-2 tax: $2,971 · $248/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: $19,445
• − Mortgage interest: −$7,002
• − Property taxes: −$2,971
• − Insurance: −$625
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$3,636
• Taxable income: $2,099
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $3,395/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): 26,835
• Household income: $65,849
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 830.0

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 (71%)
• Race & ethnicity: White 71% Black 10% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 2% Romanian 2% Portuguese 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -66.50%
• Current HPI: 196.2267
• Rent YoY: ▲ 3.99%
• 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

+47.2% since first listed

15 events — show timeline

• 2026-02-26 Listed $125,000 MRED as Distributed by MLS Grid
• 2026-02-26 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-16 Listed — MRED as Distributed by MLS Grid
• 2026-02-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-05 Listed — MRED as Distributed by MLS Grid
• 2026-01-22 Listed — MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2012-11-01 Sold (Public Records) $87,000 Public Records
• 2012-09-28 Sold (MLS) $87,000 MRED as Distributed by MLS Grid
• 2012-09-28 Sold (MLS) $87,000 RMLSA as Distributed by MLS Grid
• 2012-03-26 Listed $91,000 MRED as Distributed by MLS Grid
• 2012-03-26 Listed $91,000 RMLSA as Distributed by MLS Grid
• 2002-03-25 Sold (MLS) $80,800 RMLSA as Distributed by MLS Grid
• 2002-01-29 Listed $84,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $2,971 · +17.0% YoY. Source: county tax records.