928 Farnam St · Davenport, IA 52803

$84,900

2 bd · 2.0 ba · 842 sqft · SingleFamily public records · 135 Days on market

Built 1925 7,840 sqft lot $101/sqft · 27% below area Est $116k · 27% 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic 1925 home offering original character throughout with thoughtful updates where it counts. The remodeled kitchen complements the style and era of the home without taking away from its charm. This 2-bedroom, 2-bath property features 842 sq ft with a practical, easy-to-live-in layout that makes good use of the space. Period details and a straightforward floor plan give the home a warm, authentic feel that's hard to replicate in newer construction. Located in the City of Davenport and served by the Davenport Community School District. Conveniently situated near downtown Davenport, local parks, and major travel routes, making everyday access simple. The property is vacant and ready for its next owner, offering a solid opportunity for an owner-occupant or investor looking for a well-located home with lasting character.

Key facts

• Original character
• Remodeled kitchen
• Period details

Tags

• REMODELED KITCHEN
• ORIGINAL CHARACTER
• PERIOD DETAILS
• STRAIGHTFORWARD FLOOR PLAN
• CONVENIENTLY SITUATED
• LOCAL PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 40 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

• Local home prices are declining (-3.0%/yr); year-one equity from $587 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 $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 1.21% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 6.9

CMA / ARV

• ARV (median comp): $115,936
• List price: $84,900
• Delta: -26.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 E High St	0.75mi	2/2.0	912 (+8%)	4mo	$208,242	$228	48
1310 Kirkwood Blvd Blvd	0.70mi	2/1.0	895 (+6%)	6mo	$119,900	$134	48
1404 Kirkwood Blvd	0.73mi	2/1.0	725 (-14%)	2mo	$92,000	$127	37
2037 Leclaire St	0.75mi	3/1.0 (+1)	960 (+14%)	2mo	$160,000	$167	31
1935 N Perry St	0.72mi	2/1.0	929 (+10%)	17mo	$115,000	$124	31
1417 College Ave	0.65mi	2/1.0	720 (-14%)	20mo	$90,000	$125	25

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-916
• Equity at exit: $12,659

10-year hold

• IRR: 10.4%
• Equity multiple: 1.87×
• Total profit: $20,741
• Equity at exit: $7,341

Cash invested: $23,772 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$445
• Tax from tax record: −$158 /mo · $1,892/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $175

Break-even live

Break-even rent $808

Max offer price $84,900

Occupancy floor 78%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 E 8th St Davenport, IA	2.0	1.0	600	$750	$1.25	43d	1	0.20mi
321 E 7th St Davenport, IA	1.0–2.0	1.0	825	$1,050	$1.27	13d	4	0.32mi
811 E 14th St Davenport, IA	1.0	1.0	579	$600	$1.04	43d	4	0.32mi
1105 Tremont Ave Unit 1107 Davenport, IA	2.0	1.0	728	$795	$1.09	13d	1	0.33mi
1301 Arlington Ave Unit 1305 Davenport, IA	2.0	1.0	900	$895	$0.99	13d	1	0.33mi
1228 Tremont Ave Unit 3 Davenport, IA	1.0	1.0	600	$695	$1.16	13d	1	0.34mi
804 E 14th St Apt 1 Davenport, IA	1.0	1.0	800	$775	$0.97	43d	1	0.34mi
1421 Grand Ave Unit 1 Davenport, IA	2.0	1.0	1015	$850	$0.84	43d	1	0.36mi
614 E 15th St Apt 3 Davenport, IA	1.0	1.0	560	$695	$1.24	43d	1	0.37mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,559	$1.31	21d	1	0.38mi
1020 Oneida Ave Unit 1018 Davenport, IA	1.0	1.0	546	$750	$1.37	43d	1	0.39mi
511 Pershing Ave Unit 402W Davenport, IA	2.0	2.0	1106	$1,478	$1.34	43d	1	0.41mi
511 Pershing Ave Apt 304W Davenport, IA	1.0	1.0	775	$1,086	$1.40	43d	1	0.41mi
511 Pershing Ave Unit 609W Davenport, IA	2.0	1.0	912	$1,317	$1.44	43d	1	0.41mi
511 Pershing Ave Unit 105E Davenport, IA	2.0	2.0	1100	$1,635	$1.49	43d	1	0.41mi
511 Pershing Ave Apt 602W Davenport, IA	2.0	2.0	948	$1,367	$1.44	43d	1	0.41mi
427 Iowa St Unit 1-C308 Davenport, IA	2.0	1.5	950	$1,354	$1.43	43d	1	0.42mi
402 E 4th St Davenport, IA	1.0–2.0	1.0	805	$1,188	$1.48	13d	1	0.44mi
402 E 4th St Davenport, IA	1.0–2.0	1.0	749	$1,218	$1.63	43d	2	0.44mi
908 Bridge Ave Apt 5 Davenport, IA	1.0	1.0	800	$750	$0.94	21d	1	0.46mi
1012 Bridge Ave Apt 2 Davenport, IA	1.0	1.0	700	$750	$1.07	21d	1	0.46mi
133 W 13th St Apt 3 Davenport, IA	2.0	1.0	800	$1,150	$1.44	13d	1	0.47mi
1203 E 11th St Davenport, IA	1.0	1.0	600	$775	$1.29	21d	4	0.49mi
1724 Farnam St Unit upper Davenport, IA	1.0	1.0	985	$725	$0.74	21d	1	0.51mi
427 N Brady St Unit 6 Davenport, IA	2.0	1.0	916	$995	$1.09	43d	1	0.52mi
108 W 5th St Unit 5 Davenport, IA	1.0	1.0	737	$875	$1.19	43d	1	0.53mi
421 N Brady St Unit 11 Davenport, IA	1.0	1.0	945	$1,059	$1.12	13d	1	0.54mi
421 N Brady St Unit 5 Davenport, IA	1.0	1.0	780	$968	$1.24	43d	1	0.54mi
401 Brady St Davenport, IA	1.0–3.0	1.0–2.0	870	$1,625	$1.87	13d	2	0.57mi
200 E 3rd St Davenport, IA	1.0–2.0	1.0–2.0	900	$1,700	$1.89	13d	2	0.57mi
1812 Pershing Ave Unit 1 Davenport, IA	3.0	1.0	1000	$1,200	$1.20	21d	1	0.58mi
1606 Brady St Davenport, IA	1.0	1.0	487	$1,145	$2.35	21d	3	0.59mi
410 N Main St Unit 230 Davenport, IA	2.0	1.0	800	$1,250	$1.56	43d	1	0.61mi
106 E 3rd St Davenport, IA	1.0–2.0	1.0	812	$1,299	$1.60	43d	1	0.62mi
201 E Locust St Unit Sw Davenport, IA	2.0	1.0	1000	$875	$0.88	43d	1	0.63mi
1030 E 18th St Davenport, IA	2.0	2.0	648	$1,150	$1.77	21d	1	0.64mi
324 S Brady St Davenport, IA	1.0–2.0	1.0–2.0	965	$1,700	$1.76	21d	2	0.66mi
1615 1/2 N Ripley St Davenport, IA	2.0	1.0	900	$825	$0.92	43d	1	0.74mi
317 W 3rd St Davenport, IA	1.0	1.0	600	$900	$1.50	43d	1	0.77mi
619 W 16th St Unit 4 Davenport, IA	1.0	1.0	700	$745	$1.06	43d	1	0.89mi

Listing history 29 events

1. 2026-06-18
   days on market $84,900 Active 135 DOM
2. 2026-06-17
   days on market $84,900 Active 134 DOM
3. 2026-06-16
   days on market $84,900 Active 133 DOM
4. 2026-06-15
   days on market $84,900 Active 132 DOM
5. 2026-06-14
   days on market $84,900 Active 130 DOM
6. 2026-06-13
   days on market $84,900 Active 129 DOM
7. 2026-06-10
   days on market $84,900 Active 127 DOM
8. 2026-06-09
   days on market $84,900 Active 126 DOM
9. 2026-06-08
   days on market $84,900 Active 125 DOM
10. 2026-06-07
    days on market $84,900 Active 124 DOM
11. 2026-06-03
    days on market $84,900 Active 120 DOM
12. 2026-06-02
    days on market $84,900 Active 119 DOM
13. 2026-06-01
    days on market $84,900 Active 118 DOM
14. 2026-05-31
    days on market $84,900 Active 117 DOM
15. 2026-05-30
    days on market $84,900 Active 116 DOM
16. 2026-04-30
    price $84,900 835-char remark

    Show marketing remark (835 chars)

    Classic 1925 home offering original character throughout with thoughtful updates where it counts. The remodeled kitchen complements the style and era of the home without taking away from its charm. This 2-bedroom, 2-bath property features 842 sq ft with a practical, easy-to-live-in layout that makes good use of the space. Period details and a straightforward floor plan give the home a warm, authentic feel that's hard to replicate in newer construction. Located in the City of Davenport and served by the Davenport Community School District. Conveniently situated near downtown Davenport, local parks, and major travel routes, making everyday access simple. The property is vacant and ready for its next owner, offering a solid opportunity for an owner-occupant or investor looking for a well-located home with lasting character.

17. 2026-03-05
    price $89,900 835-char remark

    Show marketing remark (835 chars)

    Classic 1925 home offering original character throughout with thoughtful updates where it counts. The remodeled kitchen complements the style and era of the home without taking away from its charm. This 2-bedroom, 2-bath property features 842 sq ft with a practical, easy-to-live-in layout that makes good use of the space. Period details and a straightforward floor plan give the home a warm, authentic feel that's hard to replicate in newer construction. Located in the City of Davenport and served by the Davenport Community School District. Conveniently situated near downtown Davenport, local parks, and major travel routes, making everyday access simple. The property is vacant and ready for its next owner, offering a solid opportunity for an owner-occupant or investor looking for a well-located home with lasting character.

18. 2026-02-03
    listed $93,000 Active 835-char remark

    Show marketing remark (835 chars)

    Classic 1925 home offering original character throughout with thoughtful updates where it counts. The remodeled kitchen complements the style and era of the home without taking away from its charm. This 2-bedroom, 2-bath property features 842 sq ft with a practical, easy-to-live-in layout that makes good use of the space. Period details and a straightforward floor plan give the home a warm, authentic feel that's hard to replicate in newer construction. Located in the City of Davenport and served by the Davenport Community School District. Conveniently situated near downtown Davenport, local parks, and major travel routes, making everyday access simple. The property is vacant and ready for its next owner, offering a solid opportunity for an owner-occupant or investor looking for a well-located home with lasting character.

19. 2024-09-18
    historical
20. 2024-09-18
    historical
21. 2024-05-10
    listed Active
22. 2021-08-06
    historical
23. 2019-05-29
    soldstatus $95,000
24. 2018-07-23
    soldstatus $21,000
25. 2018-07-23
    soldstatus $21,000
26. 2018-06-26
    listed $28,000
27. 2018-06-26
    listed $28,000
28. 2001-09-17
    soldstatus $44,500
29. 2001-03-16
    listed $47,900

ⓘ 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: $1,892 · $158/mo
• Projected year-2 tax: $1,892 · $158/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 · 15 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: $12,353
• − Mortgage interest: −$4,756
• − Property taxes: −$1,892
• − Insurance: −$424
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$2,470
• Taxable income: $834
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $1,899/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

+77.2% since first listed

14 events — show timeline

• 2026-04-30 Price Changed $84,900 MRED as Distributed by MLS Grid
• 2026-03-05 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2026-02-03 Listed $93,000 MRED as Distributed by MLS Grid
• 2024-09-18 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-09-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-05-10 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-05-29 Sold (Public Records) $95,000 Public Records
• 2018-07-23 Sold (MLS) $21,000 RMLSA as Distributed by MLS Grid
• 2018-07-23 Sold (MLS) $21,000 MRED as Distributed by MLS Grid
• 2018-06-26 Listed $28,000 RMLSA as Distributed by MLS Grid
• 2018-06-26 Listed $28,000 MRED as Distributed by MLS Grid
• 2001-09-17 Sold (MLS) $44,500 RMLSA as Distributed by MLS Grid
• 2001-03-16 Listed $47,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $1,892 · +11.4% YoY. Source: county tax records.