2809 Telegraph Rd · Davenport, IA 52804

$80,000

2 bd · 2.5 ba · 1,720 sqft · MultiFamily public records · 146 Days on market

Built 1900 Est $144k · 44% 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

Key facts

• 4 parking spots
• Listed 146 days

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$143,574) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $872 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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; 2 comparable units currently listed for rent nearby; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• This rent runs 34% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask is 7999900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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 1900 — 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 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: 2.34% ✓
• Cap rate: 19.38%
• Cash-on-cash: 46.74%
• DSCR: 3.08
• GRM: 3.6

CMA / ARV

• ARV (median comp): $143,574
• List price: $80,000
• Delta: -44.28%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.99% rent growth · sell at horizon

5-year hold

• IRR: 45.2%
• Equity multiple: 2.99×
• Total profit: $44,549
• Equity at exit: $11,928

10-year hold

• IRR: 51.6%
• Equity multiple: 6.29×
• Total profit: $118,487
• Equity at exit: $6,917

Cash invested: $22,400 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$420
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $872

Break-even live

Break-even rent $770

Max offer price $80,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$978
1× unit	1	1	$895
Total (2 units)			$1,874

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 S Thornwood Ave Davenport, IA	3.0	1.0	1242	$1,395	$1.12	13d	1	0.32mi
510 S Lincoln Ave Davenport, IA	2.0	1.0	1184	$1,195	$1.01	20d	1	0.61mi

Listing history 28 events

1. 2026-06-18
   days on market $80,000 Active 146 DOM
2. 2026-06-17
   days on market $80,000 Active 145 DOM
3. 2026-06-16
   days on market $80,000 Active 144 DOM
4. 2026-06-15
   days on market $80,000 Active 143 DOM
5. 2026-06-14
   days on market $80,000 Active 141 DOM
6. 2026-06-13
   pricedays on market $80,000 Active 140 DOM
7. 2026-06-10
   days on market $90,000 Active 138 DOM
8. 2026-06-09
   days on market $90,000 Active 137 DOM
9. 2026-06-08
   days on market $90,000 Active 136 DOM
10. 2026-06-07
    days on market $90,000 Active 135 DOM
11. 2026-06-03
    days on market $90,000 Active 131 DOM
12. 2026-06-02
    days on market $90,000 Active 130 DOM
13. 2026-06-01
    days on market $90,000 Active 129 DOM
14. 2026-05-31
    days on market $90,000 Active 128 DOM
15. 2026-05-30
    days on market $90,000 Active 127 DOM
16. 2026-05-01
    price $90,000 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

17. 2026-04-28
    status Active 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

18. 2026-03-30
    historical Contingent - Continue to Show 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

19. 2026-03-08
    price $95,000 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

20. 2026-01-23
    price $99,500 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

21. 2026-01-23
    listed $1 Active 350-char remark

    Show marketing remark (350 chars)

    This property features 2 Units. East Side has 2 Bedrooms Up. 1 Bath LR, DR & spacious Kitchen w/ Laundry hook ups on Main Floor. Recently updated with new flooring & carpet. This side is vacant. The West side has 1 bedroom 1 bath on the main floor with kitchen. Bath updated last year. Tenant has been renting for years on a month to month.

22. 2023-01-05
    soldstatus $76,000
23. 2022-12-14
    soldstatus $76,000 184-char remark

    Show marketing remark (184 chars)

    Side by Side Duplex. Separate meters for Gas/Electric, Water - tenants pays all except Sewer/Garbage. Tenant in #2 is a very long term tenant takes care of yard & snow maintenance.

24. 2022-11-17
    listed $88,000 184-char remark

    Show marketing remark (184 chars)

    Side by Side Duplex. Separate meters for Gas/Electric, Water - tenants pays all except Sewer/Garbage. Tenant in #2 is a very long term tenant takes care of yard & snow maintenance.

25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2021-08-06
    historical
28. 2019-05-30
    soldstatus $62,000

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $1,862 · $155/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $22,488
• − Mortgage interest: −$4,481
• − Property taxes: −$1,862
• − Insurance: −$400
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$2,327
• Taxable income: $9,819
• Est. tax owed @ 24.0%: −$2,357
• After-tax cash flow: $8,112/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

+45.2% since first listed

13 events — show timeline

• 2026-05-01 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2026-04-28 Relisted — MRED as Distributed by MLS Grid
• 2026-03-30 Contingent — MRED as Distributed by MLS Grid
• 2026-03-08 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2026-01-23 Price Changed $99,500 MRED as Distributed by MLS Grid
• 2026-01-23 Listed $1 MRED as Distributed by MLS Grid
• 2023-01-05 Sold (Public Records) $76,000 Public Records
• 2022-12-14 Sold (MLS) $76,000 MRED as Distributed by MLS Grid
• 2022-11-17 Listed $88,000 MRED 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
• 2019-05-30 Sold (Public Records) $62,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,862 · -16.1% YoY. Source: county tax records.