452 21st St · Bettendorf, IA 52722

$183,900

4 bd · 2.0 ba · 1,880 sqft · MultiFamily public records · 13 Days on market

Built 1900 9,147 sqft lot

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 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

EASY TO SHOW! Don't miss this rare chance to own an income-producing duplex in Bettendorf for under $185K. With a recent appraisal of $184,000 in hand, the seller has priced the property just below appraised value. Investment properties at this price point are becoming increasingly difficult to find, making this an attractive addition to any portfolio or an excellent opportunity for an owner-occupant looking to offset their housing expenses. This up/down duplex features a 2-bedroom lower unit and a 3-bedroom upper unit. Most recently leased for a combined gross monthly income of $1,950, offering immediate cash-flow potential with room to increase rents over time. Investors can appreciate th

Key facts

• Recent appraisal
• Newer furnace
• Off street parking

Tags

• INCOME PRODUCING DUPLEX
• RECENT APPRAISAL
• NEWER ROOF AND SIDING
• NEWER FURNACE
• OFF STREET PARKING

Property features AI

Finance

• Other: Building contains 2 units; Lot less than 0.25 acre; Gross income and expense figures reported
• Financial info: Gross rental income: $1,950; Unit 1 rent: $800; Unit 2 rent: $1,150; Owner projects water/sewer expense: $160; Insurance expense: $2,292

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building; Converted property; School bus service available; Over 100 years old; Entry directions: East on State Street to 21st St, north on 21st to property
• Construction: Vinyl siding; Brick/mortar and other foundation; Asphalt roof; Built before 1978
• Exterior features: Deck; Patio; Porch; Balcony; Level lot

Interior

• Kitchen: Unit 1: Stove, Refrigerator, Range hood; Unit 2: Stove, Refrigerator, Range hood
• Bedrooms: Unit 1: 2 bedrooms (1st floor); Unit 2: 3 bedrooms (2nd floor)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Street lights in the neighborhood; Unfinished partial basement
• Laundry & utility: Tenants pay electricity

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $184k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive. Per door: $295/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $184k).
• Cap rate 10.1% vs local median 3.0% in Bettendorf — 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 81/100 on livability (#73 in IA, #1,579 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Bettendorf Community School District (suburban): math 74% / reading 75% proficiency, ranked #57 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+2.9%/yr); 431 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $6k 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 + 2.9% rent growth), your $51k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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 $78k; list at $184k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,900

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 1900 — 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. 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. 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: 1.27% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.74%
• DSCR: 1.61
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,496
• Equity at exit: $27,420

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $53,824
• Equity at exit: $15,900

Cash invested: $51,492 (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 52722

• Rents YoY: 2.9%
• Active inventory: 431
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,327 high
• Mortgage (P&I): −$964
• Tax from tax record: −$208 /mo · $2,492/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $590

Break-even live

Break-even rent $1,581

Max offer price $183,900

Occupancy floor 70%

Sensitivity live

Price	-10% $694	-5% $642	+0% $590	+5% $538	+10% $486
Rent	-10% $406	-5% $498	+0% $590	+5% $682	+10% $773
Rate	-1.0pp $682	-0.5pp $636	base $590	+0.5pp $542	+1.0pp $494

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,091
1× unit	3	1	$1,236
Total (2 units)			$2,327

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: $45,975
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Central Ave Bettendorf, IA	3.0	2.0	1295	$1,995	$1.54	44d	1	0.52mi
2900 River Dr Moline, IL	1.0–3.0	1.0–2.0	1137	$1,599	$1.41	22d	1	0.98mi

Listing history 10 events

1. 2026-06-21
   days on market $183,900 Active 13 DOM
2. 2026-06-18
   days on market $183,900 Active 10 DOM
3. 2026-06-17
   days on market $183,900 Active 9 DOM
4. 2026-06-16
   days on market $183,900 Active 8 DOM
5. 2026-06-15
   days on market $183,900 Active 7 DOM
6. 2026-06-14
   days on market $183,900 Active 5 DOM
7. 2026-06-13
   days on market $183,900 Active 4 DOM
8. 2026-06-10
   days on market $183,900 Active 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $183,900 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: $2,492 · $208/mo
• Projected year-2 tax: $2,690 · $224/mo
• Expected delta: +$198/yr (+$16/mo · 7.9%)

ⓘ 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: $27,924
• − Mortgage interest: −$10,301
• − Property taxes: −$2,492
• − Insurance: −$920
• − Repairs & maintenance: −$2,234
• − Management: −$2,234
• − Depreciation: −$5,350
• Taxable income: $4,394
• Est. tax owed @ 24.0%: −$1,054
• After-tax cash flow: $6,021/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: Bettendorf Community School District
• NCES district ID: 1904860
• Math proficiency: 74% ▼ -6.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $66,823
• Composite: 64.71/100
• National rank: #522
• State rank: #57 of 289 in IA

Livability — Bettendorf

• Score: 81/100
• State rank: #73
• US rank: #1579

Category grades

Amenities F Commute F 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: Bettendorf, IA
• County: Scott County · 144,583 people
• City population: 41,264
• Metro: Davenport-Moline-Rock Island, IA-IL
• Population (ZIP): 41,264
• Household income: $101,546
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 935.0

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 (82%)
• Race & ethnicity: White 82% Asian 7% Two or more races 7% Hispanic / Latino 5% Black 2%
• Common ancestry: Portuguese 3% Italian 3% Romanian 2%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 92% English-only · Other Asian/Pacific 2% Spanish 2% Other Indo-European 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: ▼ -111.45%
• Current HPI: 194.8355
• Rent YoY: ▲ 2.88%
• 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

+73.7% since first listed

13 events — show timeline

• 2026-06-07 Listed $183,900 MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-28 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-25 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-12-17 Sold (MLS) $78,000 MRED as Distributed by MLS Grid
• 2015-12-17 Sold (MLS) $78,000 RMLSA as Distributed by MLS Grid
• 2015-10-23 Listed $85,000 MRED as Distributed by MLS Grid
• 2015-10-23 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2003-09-11 Sold (MLS) $107,000 RMLSA as Distributed by MLS Grid
• 2003-07-15 Listed $105,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2025): $2,492 · +0.8% YoY. Source: county tax records.