5003 N Dittmer St · Davenport, IA 52806

$24,000

3 bd · 1.0 ba · 1,064 sqft · Manufactured · 73 Days on market

Built 1995 $23/sqft · 52% below area ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this affordable 3 bedroom 1 bath home. This home features an eat-in kitchen, spacious living room, en suite bathroom to the primary. Equipped with a wheelchair ramp. Shed. Appliances stay. Offering a 1 year home warranty with a strong offer. AS-IS. Cash or mobile home financing. Contact Yes! Communities at Silver Creek for lot rent and community guidelines.

Key facts

• En suite bathroom
• Shed
• Appliances stay

Tags

• EAT-IN KITCHEN
• SPACIOUS LIVING ROOM
• EN SUITE BATHROOM
• SHED
• APPLIANCES STAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $24k.

Deal economics

• At list price, monthly cash flow is $779 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 48.0% 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 (+1.8%/yr); 162 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $166 of loan paydown is wiped out by about $720 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 + 1.8% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.28% ✓
• Cap rate: 48.05%
• Cash-on-cash: 149.12%
• DSCR: 7.63
• GRM: 1.6

CMA / ARV

• ARV (median comp): $50,500
• List price: $24,000
• Delta: -52.48%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5112 N Fairmount St Lot 102 St	0.58mi	3/2.0	1,056 (-1%)	1mo	$42,000	$40	67
3208 W 47th Pl	0.24mi	3/2.0	1,178 (+11%)	3mo	$59,000	$50	64

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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.59×
• Total profit: $44,281
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 15.38×
• Total profit: $96,626
• Equity at exit: $2,075

Cash invested: $6,720 (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 52806

• Rents YoY: 1.8%
• Active inventory: 162
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,267 high
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• Flood insurance flood zone: −$56 /mo · $670/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $779

Break-even live

Break-even rent $281

Max offer price $24,000

Occupancy floor 34%

Sensitivity live

Price	-10% $796	-5% $788	+0% $779	+5% $771	+10% $763
Rent	-10% $679	-5% $729	+0% $779	+5% $829	+10% $879
Rate	-1.0pp $791	-0.5pp $785	base $779	+0.5pp $773	+1.0pp $767

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4930 N Dittmer St Davenport, IA	3.0	2.0	1104	$1,184	$1.07	15d	1	0.15mi
2806 W 47th St Davenport, IA	3.0	2.0	1164	$1,700	$1.46	45d	1	0.33mi
1935 W 40th St Davenport, IA	2.0	1.0	585	$950	$1.62	15d	8	1.16mi
4444 N Division St Davenport, IA	2.0	1.0	800	$895	$1.12	15d	1	1.18mi
4406 N Division St Unit 4311-11 Davenport, IA	2.0	1.0	800	$895	$1.12	45d	1	1.19mi
4323 N Division St Davenport, IA	1.0–2.0	1.0	675	$1,099	$1.63	15d	1	1.25mi
5337 Villa Dr Davenport, IA	2.0–3.0	2.5	1650	$2,045	$1.24	15d	1	1.32mi
7106 Hillandale Rd Unit 4 Davenport, IA	2.0	1.0	747	$975	$1.31	45d	1	1.42mi
7104 Hillandale Rd Unit 11 Davenport, IA	2.0	1.0	747	$890	$1.19	15d	1	1.43mi
3021 W 72nd St Unit 4 Davenport, IA	3.0	1.5	1079	$1,375	$1.27	15d	1	1.44mi
7102 Hillandale Rd Unit 11 Davenport, IA	2.0	1.0	747	$975	$1.31	15d	1	1.44mi
7112 Hillandale Rd Unit 11 Davenport, IA	2.0	1.0	747	$975	$1.31	15d	1	1.45mi
7110 Hillandale Rd Unit OTE Davenport, IA	2.0	1.0	747	$975	$1.31	15d	1	1.45mi
3536 Heatherton Dr Unit 4 Davenport, IA	2.0	1.0	700	$825	$1.18	15d	1	1.47mi
3553 Heatherton Dr Davenport, IA	1.0–2.0	1.0	690	$875	$1.27	15d	2	1.48mi

Listing history 2 events

1. 2026-04-27
   price $24,000 370-char remark

   Show marketing remark (370 chars)

   Don't miss this affordable 3 bedroom 1 bath home. This home features an eat-in kitchen, spacious living room, en suite bathroom to the primary. Equipped with a wheelchair ramp. Shed. Appliances stay. Offering a 1 year home warranty with a strong offer. AS-IS. Cash or mobile home financing. Contact Yes! Communities at Silver Creek for lot rent and community guidelines.

2. 2026-03-10
   listed $25,000 Active 370-char remark

   Show marketing remark (370 chars)

   Don't miss this affordable 3 bedroom 1 bath home. This home features an eat-in kitchen, spacious living room, en suite bathroom to the primary. Equipped with a wheelchair ramp. Shed. Appliances stay. Offering a 1 year home warranty with a strong offer. AS-IS. Cash or mobile home financing. Contact Yes! Communities at Silver Creek for lot rent and community guidelines.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,204
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$790
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$698
• Taxable income: $9,579
• Est. tax owed @ 24.0%: −$2,299
• After-tax cash flow: $7,052/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): 26,871
• Household income: $74,297
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 735.0

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 (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Vietnamese 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: ▼ -127.41%
• Current HPI: 185.0808
• Rent YoY: ▲ 1.80%
• 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

-4.0% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $24,000 Muscatine BOR
• 2026-03-10 Listed $25,000 Muscatine BOR