1619-1621 Gaines St · Davenport, IA 52804

$122,500

4 bd · 4.5 ba · 2,526 sqft · MultiFamily public records · 19 Days on market

Built 1910 3,484 sqft lot Est $205k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

Davenport, IA Real Estate For Sale. Add this money maker to your portfolio while rates are low. Side by side duplex that has replacement windows through out. Everything seperately metered, tenants pay all thier own utilities. Listing agent is a member of the LLC and is licensed in IA and IL. Currently both units are rented on 1 year leases, please give 48 hur notice to show. Cap Rate 12.26% and cash on cash return 35.51 %, see attached investment work sheet. SELLER INTENDS TO ASSIGN AS PART OF 1031 EXCHANGE

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 1910

Property features AI

Finance

• Other: Two units in the building; Unit 1: 6 rooms, 1,263 square feet, security deposit $900, rent $900 — tenant pays all; Unit 2: 6 rooms, 1,263 square feet, security deposit $825, rent $825 — tenant pays all; Possession at closing subject to tenants' rights; Earnest money accepted
• Financial info: Special service area: No

Exterior

• Parking: Two parking spaces total; Unassigned parking; Off-alley and off-street parking; Driveway
• Utilities: Public water; Public sewer
• Home design: Two-to-four unit property; Fee simple ownership; Property over 100 years old; Built before 1978; Not a conversion; Not recently rebuilt or rehabilitated
• Construction: Asphalt roof; Block foundation
• Exterior features: Level lot; Lot dimensions approximately 58 x 60

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Six bedrooms total; Three-bedroom unit (Unit 1, first floor); Three-bedroom unit (Unit 2, first floor)
• Bathrooms: Two full bathrooms and one half bathroom total; Unit 1: one full bath and one half bath; Unit 2: one full bath
• Heating & cooling: Natural gas heating; Forced air
• Interior features: Ceiling fan(s); Unfinished full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $122k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $595/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $122k).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.0% 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; 3 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).
• At $2,562/mo this rent would consume 47% of the median local household income ($66k/yr) (locally 830% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $847 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $92k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,662 (1.5% below list)

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 1910 — 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. 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 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: 2.09% ✓
• Cap rate: 17.96%
• Cash-on-cash: 41.66%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $204,606
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2107 N Marquette St	0.53mi	4/4.0	2,668 (+6%)	10mo	$215,000	$81	56

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: 39.4%
• Equity multiple: 2.71×
• Total profit: $58,604
• Equity at exit: $18,265

10-year hold

• IRR: 46.3%
• Equity multiple: 5.65×
• Total profit: $159,610
• Equity at exit: $10,592

Cash invested: $34,300 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,562 high
• Mortgage (P&I): −$642
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $1,191

Break-even live

Break-even rent $1,055

Max offer price $122,500

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,562
Total (2 units)			$2,562

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.15mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	0.26mi
309 E 11th St Davenport, IA	5.0	2.0	2925	$1,495	$0.51	21d	1	0.77mi

Listing history 18 events

1. 2026-06-18
   days on market $122,500 Active 19 DOM
2. 2026-06-17
   status $122,500 Active 18 DOM
3. 2026-06-10
   status $122,500 Pending 18 DOM
4. 2026-06-09
   days on market $122,500 Active 18 DOM
5. 2026-06-08
   days on market $122,500 Active 17 DOM
6. 2026-06-07
   days on market $122,500 Active 16 DOM
7. 2026-06-03
   days on market $122,500 Active 12 DOM
8. 2026-06-02
   days on market $122,500 Active 11 DOM
9. 2026-06-01
   days on market $122,500 Active 10 DOM
10. 2026-05-31
    days on market $122,500 Active 9 DOM
11. 2026-05-30
    days on market $122,500 Active 8 DOM
12. 2026-05-22
    listed $122,500 Active
13. 2020-01-15
    soldstatus $92,500
14. 2020-01-14
    soldstatus $92,500
15. 2019-12-20
    soldstatus $92,500 512-char remark

    Show marketing remark (512 chars)

    Davenport, IA Real Estate For Sale. Add this money maker to your portfolio while rates are low. Side by side duplex that has replacement windows through out. Everything seperately metered, tenants pay all thier own utilities. Listing agent is a member of the LLC and is licensed in IA and IL. Currently both units are rented on 1 year leases, please give 48 hur notice to show. Cap Rate 12.26% and cash on cash return 35.51 %, see attached investment work sheet. SELLER INTENDS TO ASSIGN AS PART OF 1031 EXCHANGE

16. 2019-12-20
    soldstatus $92,500 512-char remark

    Show marketing remark (512 chars)

    Davenport, IA Real Estate For Sale. Add this money maker to your portfolio while rates are low. Side by side duplex that has replacement windows through out. Everything seperately metered, tenants pay all thier own utilities. Listing agent is a member of the LLC and is licensed in IA and IL. Currently both units are rented on 1 year leases, please give 48 hur notice to show. Cap Rate 12.26% and cash on cash return 35.51 %, see attached investment work sheet. SELLER INTENDS TO ASSIGN AS PART OF 1031 EXCHANGE

17. 2019-11-22
    listed $95,000 512-char remark

    Show marketing remark (512 chars)

    Davenport, IA Real Estate For Sale. Add this money maker to your portfolio while rates are low. Side by side duplex that has replacement windows through out. Everything seperately metered, tenants pay all thier own utilities. Listing agent is a member of the LLC and is licensed in IA and IL. Currently both units are rented on 1 year leases, please give 48 hur notice to show. Cap Rate 12.26% and cash on cash return 35.51 %, see attached investment work sheet. SELLER INTENDS TO ASSIGN AS PART OF 1031 EXCHANGE

18. 2019-11-22
    listed $95,000 512-char remark

    Show marketing remark (512 chars)

    Davenport, IA Real Estate For Sale. Add this money maker to your portfolio while rates are low. Side by side duplex that has replacement windows through out. Everything seperately metered, tenants pay all thier own utilities. Listing agent is a member of the LLC and is licensed in IA and IL. Currently both units are rented on 1 year leases, please give 48 hur notice to show. Cap Rate 12.26% and cash on cash return 35.51 %, see attached investment work sheet. SELLER INTENDS TO ASSIGN AS PART OF 1031 EXCHANGE

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $1,800 · $150/mo
• Expected delta: +$124/yr (+$10/mo · 7.4%)

ⓘ 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: $30,744
• − Mortgage interest: −$6,862
• − Property taxes: −$1,676
• − Insurance: −$612
• − Repairs & maintenance: −$2,460
• − Management: −$2,460
• − Depreciation: −$3,564
• Taxable income: $13,111
• Est. tax owed @ 24.0%: −$3,147
• After-tax cash flow: $11,144/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

+28.9% since first listed

7 events — show timeline

• 2026-05-22 Listed $122,500 MRED as Distributed by MLS Grid
• 2020-01-15 Sold (Public Records) $92,500 Public Records
• 2020-01-14 Sold (Public Records) $92,500 Public Records
• 2019-12-20 Sold (MLS) $92,500 MRED as Distributed by MLS Grid
• 2019-12-20 Sold (MLS) $92,500 RMLSA as Distributed by MLS Grid
• 2019-11-22 Listed $95,000 MRED as Distributed by MLS Grid
• 2019-11-22 Listed $95,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $1,676 · +2.4% YoY. Source: county tax records.