2528 Farnam St · Davenport, IA 52803

$125,000

3 bd · 1.5 ba · 1,496 sqft · SingleFamily public records · 43 Days on market

Built 1915 5,695 sqft lot Est $194k · 36% under

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Why this score? — see what drove the C- 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 +15.3/30.0
• ARV discount +15.0/15.0
• 1% rule +4.7/10.0
• DSCR +4.7/10.0
• 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

Classic East Davenport character just steps from VanderVeer Park! This 4-bedroom home is full of timeless charm with original woodwork, vintage details, and hardwood floors waiting to be uncovered beneath the carpet. Big-ticket items like roof and siding have already been updated, giving the next owner a great starting point. The unfinished attic offers exciting potential for additional living space, office, or studio. With a little TLC, this home could truly shine again. Prime location near one of Davenport's most beautiful parks, neighborhood shops, and dining.

Key facts

• Updated siding
• Vintage details
• Updated roof

Tags

• ORIGINAL WOODWORK
• VINTAGE DETAILS
• HARDWOOD FLOORS
• UPDATED ROOF
• UPDATED SIDING
• UNFINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $45 ($546/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.5% below list).
• Recommended offer: $121k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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); 50% 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 $864 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y 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 $47k; list at $125k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,652 (3.5% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $194,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2528 Farnam St	0.00mi	4/1.0 (+1)	1,496 (0%)	1mo	$100,000	$67	92
2627 Fair Ave	0.30mi	3/1.5	1,447 (-3%)	0mo	$168,000	$116	80
2808 Farnam St	0.18mi	3/2.5	1,377 (-8%)	2mo	$181,000	$131	73
2716 Davenport Ave	0.22mi	3/1.5	1,636 (+9%)	2mo	$180,000	$110	72
2214 Grand Ave	0.27mi	3/1.5	1,338 (-11%)	1mo	$136,000	$102	69
2615 Leclaire St	0.06mi	3/1.0	1,717 (+15%)	3mo	$230,000	$134	68
3105 Jefferson Ave	0.44mi	3/2.0	1,386 (-7%)	2mo	$185,000	$133	63
2211 Western Ave	0.74mi	3/2.0	1,484 (-1%)	3mo	$175,000	$118	59
2718 Western Ave	0.73mi	3/1.5	1,539 (+3%)	2mo	$199,900	$130	59
3001 Davenport Ave	0.42mi	3/2.0	1,296 (-13%)	1mo	$189,000	$146	55
402 E Pleasant St	0.44mi	4/1.0 (+1)	1,300 (-13%)	0mo	$140,000	$108	50
3036 Tremont Ave	0.53mi	3/2.0	1,304 (-13%)	2mo	$245,000	$188	50

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: -11.9%
• Equity multiple: 0.56×
• Total profit: $-15,379
• Equity at exit: $18,638

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,277
• Equity at exit: $10,808

Cash invested: $35,000 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,207 high
• Mortgage (P&I): −$656
• Tax from tax record: −$200 /mo · $2,401/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $45

Break-even live

Break-even rent $1,149

Max offer price $125,000

Occupancy floor 91%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 Farnam St Unit 2211 Davenport, IA	3.0	1.0	1138	$1,050	$0.92	21d	1	0.25mi
320 E 29th St Davenport, IA	2.0	2.5	1450	$1,750	$1.21	44d	1	0.30mi
2224 Iowa St Davenport, IA	2.0	1.0	1214	$895	$0.74	44d	1	0.31mi
2224 Iowa St Unit 2224 Davenport, IA	2.0	1.0	1214	$925	$0.76	44d	1	0.31mi
2925 Dubuque St Unit 5N Davenport, IA	2.0	2.0	895	$825	$0.92	14d	1	0.36mi
2809 N Main St Davenport, IA	3.0	1.5	1000	$1,350	$1.35	21d	1	0.49mi
1812 Pershing Ave Unit 1 Davenport, IA	3.0	1.0	1000	$1,200	$1.20	21d	1	0.61mi
201 E Locust St Unit Sw Davenport, IA	2.0	1.0	1000	$875	$0.88	44d	1	0.62mi
102 W 35th St Unit 130E_35R Davenport, IA	2.0	2.0	1200	$1,100	$0.92	14d	1	0.72mi
102 W 35th St Unit 128E_35R Davenport, IA	2.0	2.0	1200	$1,100	$0.92	21d	1	0.72mi
102 W 35th St Unit 105W_35 Davenport, IA	3.0	2.0	1500	$1,150	$0.77	44d	1	0.72mi
102 W 35th St Unit 119W_35R Davenport, IA	2.0	2.0	1200	$1,050	$0.88	44d	1	0.72mi
102 W 35th St Unit 104E_35R Davenport, IA	2.0	2.0	1200	$1,050	$0.88	21d	1	0.72mi
317 Kirkwood Blvd Davenport, IA	2.0	1.0	1300	$950	$0.73	44d	1	0.72mi
1421 Grand Ave Unit 1 Davenport, IA	2.0	1.0	1015	$850	$0.84	44d	1	0.78mi
1615 1/2 N Ripley St Davenport, IA	2.0	1.0	900	$825	$0.92	44d	1	0.87mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	44d	1	0.90mi
1519 N Ripley St Davenport, IA	2.0	1.0	1144	$1,100	$0.96	14d	1	0.92mi
1301 Arlington Ave Unit 1305 Davenport, IA	2.0	1.0	900	$895	$0.99	14d	1	0.92mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	0.93mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	44d	1	0.96mi
1017 E 13th St Unit 1017 Davenport, IA	2.0	1.0	1335	$950	$0.71	21d	1	0.98mi
1527 Fulton Ct Davenport, IA	4.0	2.0	1850	$1,775	$0.96	44d	1	1.02mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	44d	1	1.02mi
3705 College Ave Davenport, IA	2.0	1.0	800	$1,095	$1.37	14d	7	1.04mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	14d	1	1.10mi
2220 E Lombard St Davenport, IA	3.0	2.0	1500	$1,620	$1.08	44d	1	1.16mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	21d	1	1.17mi
1505 E 39th St Unit 2A Davenport, IA	2.0	1.0	970	$820	$0.85	21d	1	1.19mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	21d	1	1.23mi
1318 1/2 Brown St Davenport, IA	2.0	1.0	900	$875	$0.97	21d	1	1.25mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	44d	1	1.32mi
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	44d	1	1.37mi
321 E 7th St Davenport, IA	1.0–2.0	1.0	825	$1,050	$1.27	14d	4	1.39mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,868	$1.57	21d	1	1.44mi
1825 Winding Hill Rd Davenport, IA	1.0–3.0	1.0–2.0	976	$1,290	$1.32	14d	9	1.45mi
511 Pershing Ave Unit 101W Davenport, IA	2.0	1.0	1280	$1,704	$1.33	44d	1	1.47mi
511 Pershing Ave Unit 105E Davenport, IA	2.0	2.0	1100	$1,635	$1.49	44d	1	1.47mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	44d	1	1.47mi
511 Pershing Ave Unit 202W Davenport, IA	2.0	1.0	1201	$1,601	$1.33	44d	1	1.47mi

Listing history 17 events

1. 2026-05-24
   status Active
2. 2026-05-24
   status Active
3. 2026-05-22
   status Active
4. 2026-04-18
   status Pending
5. 2026-03-06
   listed $125,000 Active
6. 2026-03-05
   historical
7. 2026-03-05
   historical
8. 2026-03-05
   historical
9. 2026-03-05
   historical
10. 2026-01-08
    status Active
11. 2026-01-06
    historical
12. 2026-01-05
    historical
13. 2025-10-29
    price
14. 2025-09-29
    price
15. 2025-09-05
    listed Active
16. 2000-12-20
    soldstatus $46,750
17. 2000-10-23
    listed $48,900

ⓘ 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: $2,401 · $200/mo
• Projected year-2 tax: $2,401 · $200/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 5/10 Major FEMA zone X (unshaded) · 65% 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: $14,478
• − Mortgage interest: −$7,002
• − Property taxes: −$2,401
• − Insurance: −$625
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$3,636
• Taxable loss: −$1,503
• Est. tax savings @ 24.0%: +$361
• After-tax cash flow: $906/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

+155.6% since first listed

17 events — show timeline

• 2026-05-24 Relisted — MRED as Distributed by MLS Grid
• 2026-05-24 Relisted — MRED as Distributed by MLS Grid
• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-04-18 Pending — MRED as Distributed by MLS Grid
• 2026-03-06 Listed $125,000 MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-29 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-29 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-05 Listed — RMLSA as Distributed by MLS Grid
• 2000-12-20 Sold (MLS) $46,750 RMLSA as Distributed by MLS Grid
• 2000-10-23 Listed $48,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $2,401 · -2.5% YoY. Source: county tax records.