1640 W 17th St · Davenport, IA 50804

$139,900

4 bd · 3.5 ba · 1,959 sqft · MultiFamily public records · 125 Days on market

Built 1890 6,969 sqft lot Est $131k · 7% 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Appreciation +5.0/10.0
• ARV discount +4.3/15.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

4-bed, 2-bath duplex in Davenport offering strong rental history & significant recent updates. This up-and-down property features an enclosed front porch that serves as a shared foyer for both units. Unit 1, located on the main floor, includes a living room, dining room, kitchen, 2 bedrooms, & 1 full bathroom. Unit 2, located upstairs, offers a living room, kitchen, 2 bedrooms, & 1 full bathroom. The basement provides laundry hookups & additional space with potential for future finish. Each unit includes a dedicated 1-car parking pad off the side alley, along with additional street parking. Both units are tenant-occupied on month-to-month leases. Approximately $50,000 in renovations have been completed over the past 3 years, including 2 new furnaces, 2 new water heaters, a new roof, & a new front porch. A well-maintained investment opportunity with major mechanical updates already completed.

Key facts

• Shared foyer
• Laundry hookups
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• SHARED FOYER
• LAUNDRY HOOKUPS
• DEDICATED PARKING PAD
• MAJOR MECHANICAL UPDATES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive. Per door: $232/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: 2 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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

• In year one you build about $5k of equity ($967 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y 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 $76k; list at $140k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 10.27%
• Cash-on-cash: 14.19%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (median comp): $130,629
• List price: $139,900
• Delta: 7.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.8%
• Equity multiple: 2.18×
• Total profit: $46,369
• Equity at exit: $62,905

10-year hold

• IRR: 21.9%
• Equity multiple: 4.16×
• Total profit: $123,753
• Equity at exit: $96,944

Cash invested: $39,172 (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 50804

• Active inventory: 2
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$734
• Tax from tax record: −$148 /mo · $1,774/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $463

Break-even live

Break-even rent $1,190

Max offer price $139,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,776
Total (2 units)			$1,776

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1723 W Locust St Davenport, IA	3.0	1.0	1690	$1,395	$0.83	43d	1	0.14mi
1716 W 7th St Davenport, IA	4.0	1.0	1278	$1,712	$1.34	13d	1	0.69mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	43d	1	0.73mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	20d	1	0.86mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	13d	1	0.93mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	20d	1	0.94mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	43d	1	0.97mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	20d	1	1.13mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	43d	1	1.29mi
2424 Telegraph Rd Davenport, IA	4.0	2.0	2000	$1,750	$0.88	43d	1	1.34mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	43d	1	1.42mi

Listing history 37 events

1. 2026-06-18
   days on market $139,900 Active 125 DOM
2. 2026-06-17
   days on market $139,900 Active 124 DOM
3. 2026-06-16
   days on market $139,900 Active 123 DOM
4. 2026-06-15
   days on market $139,900 Active 122 DOM
5. 2026-06-14
   days on market $139,900 Active 120 DOM
6. 2026-06-13
   days on market $139,900 Active 119 DOM
7. 2026-06-10
   days on market $139,900 Active 117 DOM
8. 2026-06-09
   days on market $139,900 Active 116 DOM
9. 2026-06-08
   days on market $139,900 Active 115 DOM
10. 2026-06-07
    days on market $139,900 Active 114 DOM
11. 2026-06-03
    days on market $139,900 Active 110 DOM
12. 2026-06-02
    days on market $139,900 Active 109 DOM
13. 2026-06-01
    days on market $139,900 Active 108 DOM
14. 2026-05-31
    days on market $139,900 Active 107 DOM
15. 2026-05-30
    days on market $139,900 Active 106 DOM
16. 2026-02-12
    listed $139,900 Active 924-char remark

    Show marketing remark (924 chars)

    4-bed, 2-bath duplex in Davenport offering strong rental history & significant recent updates. This up-and-down property features an enclosed front porch that serves as a shared foyer for both units. Unit 1, located on the main floor, includes a living room, dining room, kitchen, 2 bedrooms, & 1 full bathroom. Unit 2, located upstairs, offers a living room, kitchen, 2 bedrooms, & 1 full bathroom. The basement provides laundry hookups & additional space with potential for future finish. Each unit includes a dedicated 1-car parking pad off the side alley, along with additional street parking. Both units are tenant-occupied on month-to-month leases. Approximately $50,000 in renovations have been completed over the past 3 years, including 2 new furnaces, 2 new water heaters, a new roof, & a new front porch. A well-maintained investment opportunity with major mechanical updates already completed.

17. 2022-10-05
    historical
18. 2022-10-05
    historical
19. 2021-08-06
    historical
20. 2021-08-06
    historical
21. 2021-08-06
    historical
22. 2021-08-06
    historical
23. 2021-08-06
    historical
24. 2021-08-06
    historical
25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2021-08-06
    historical
28. 2010-10-15
    historical
29. 2009-12-23
    historical
30. 2008-11-06
    historical
31. 2008-05-07
    historical
32. 2007-07-03
    historical
33. 2005-10-03
    soldstatus $75,900
34. 2005-10-03
    soldstatus $75,900
35. 2005-09-30
    soldstatus $75,900
36. 2005-07-13
    listed $78,900
37. 2001-10-05
    historical

ⓘ 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: $1,774 · $148/mo
• Projected year-2 tax: $1,985 · $165/mo
• Expected delta: +$211/yr (+$18/mo · 11.9%)

ⓘ 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: $21,312
• − Mortgage interest: −$7,837
• − Property taxes: −$1,774
• − Insurance: −$700
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$4,070
• Taxable income: $3,522
• Est. tax owed @ 24.0%: −$845
• After-tax cash flow: $4,714/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+77.3% since first listed

22 events — show timeline

• 2026-02-12 Listed $139,900 MRED as Distributed by MLS Grid
• 2022-10-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-10-05 Listing Removed — RMLSA 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
• 2021-08-06 Listing Removed — RMLSA 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
• 2021-08-06 Listing Removed — RMLSA 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
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2010-10-15 Listing Removed — MRED as Distributed by MLS Grid
• 2009-12-23 Listing Removed — MRED as Distributed by MLS Grid
• 2008-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2008-05-07 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-03 Listing Removed — MRED as Distributed by MLS Grid
• 2005-10-03 Sold (Public Records) $75,900 Public Records
• 2005-10-03 Sold (Public Records) $75,900 Public Records
• 2005-09-30 Sold (MLS) $75,900 RMLSA as Distributed by MLS Grid
• 2005-07-13 Listed $78,900 RMLSA as Distributed by MLS Grid
• 2001-10-05 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2025): $1,774 · -11.3% YoY. Source: county tax records.