2115 W 4 St · Davenport, IA 52802

$148,500

3 bd · 2.5 ba · 1,730 sqft · MultiFamily public records · 34 Days on market

Built 1900 9,147 sqft lot Est $134k · 11% over

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• 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

This well-maintained up/down duplex features a lower unit with 2 bedrooms, 1 bathroom, and a 2-car garage available for $1400 per month. The upper unit offers 1 bedroom, 1 bathroom, and a 1-car garage for $600 per month. Owner covers all utilities for both units. Additionally, both units have successfully passed city inspections, ensuring a safe and compliant living environment for tenants. Seller intends to perform a 1031 tax-deferred exchange.

Key facts

• 9,147 sq ft lot
• 3 garage spots
• Built 1900

Property features AI

Finance

• Other: School bus service and commuter bus access; Lot dimensions approximately 60 x 150 (less than 0.25 acre)
• Financial info: First-floor unit rent $1,400; security deposit $1,400; lease through April 1, 2027; Second-floor unit rent $600; security deposit $600; lease through September 1, 2026

Exterior

• Parking: Detached garage; Three garage spaces; Six total parking spaces; Assigned parking; Off-street parking with alley access
• Utilities: Public water; Public sewer
• Home design: Two-to-four unit building; Two-unit building; Over 100 years old; Built before 1978
• Construction: Aluminum siding; Asphalt roof; Block foundation
• Exterior features: Patio; Fenced lot; Level lot

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two-bedroom unit on the first floor; One-bedroom unit on the second floor
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Natural gas and electric heating; Forced air system
• Interior features: Sidewalks
• Laundry & utility: No tenant-paid utilities listed

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $148k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive. Per door: $324/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 68 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• At $2,089/mo this rent would consume 46% of the median local household income ($54k/yr) (locally 244% 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 $1k 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 + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $105k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $144,045 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.41% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.72%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (median comp): $133,540
• List price: $148,500
• Delta: 11.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.5%
• Equity multiple: 1.42×
• Total profit: $17,262
• Equity at exit: $22,142

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $68,291
• Equity at exit: $12,840

Cash invested: $41,580 (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 52802

• Home prices YoY: -28.3%
• Active inventory: 68
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,089 high
• Mortgage (P&I): −$779
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $649

Break-even live

Break-even rent $1,268

Max offer price $148,500

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,090
Total (2 units)			$2,089

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: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2424 Telegraph Rd Davenport, IA	4.0	2.0	2000	$1,750	$0.88	43d	1	0.35mi
1912 Dixwell St Davenport, IA	4.0	2.0	1116	$1,300	$1.16	43d	1	0.35mi
301 S Thornwood Ave Davenport, IA	3.0	1.0	1242	$1,395	$1.12	13d	1	0.46mi
510 S Lincoln Ave Davenport, IA	2.0	1.0	1184	$1,195	$1.01	20d	1	0.49mi
1716 W 7th St Davenport, IA	4.0	1.0	1278	$1,712	$1.34	13d	1	0.56mi
1723 W Locust St Davenport, IA	3.0	1.0	1690	$1,395	$0.83	43d	1	1.11mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	43d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $148,500 Active 34 DOM
2. 2026-06-17
   days on market $148,500 Active 33 DOM
3. 2026-06-16
   days on market $148,500 Active 32 DOM
4. 2026-06-15
   days on market $148,500 Active 31 DOM
5. 2026-06-14
   days on market $148,500 Active 29 DOM
6. 2026-06-13
   days on market $148,500 Active 28 DOM
7. 2026-06-10
   days on market $148,500 Active 26 DOM
8. 2026-06-09
   days on market $148,500 Active 25 DOM
9. 2026-06-08
   days on market $148,500 Active 24 DOM
10. 2026-06-07
    days on market $148,500 Active 23 DOM
11. 2026-06-03
    days on market $148,500 Active 19 DOM
12. 2026-06-02
    days on market $148,500 Active 18 DOM
13. 2026-06-01
    days on market $148,500 Active 17 DOM
14. 2026-05-31
    days on market $148,500 Active 16 DOM
15. 2026-05-30
    days on market $148,500 Active 15 DOM
16. 2026-05-15
    listed $148,500 Active 449-char remark
17. 2026-01-16
    historical
18. 2026-01-09
    listed Active
19. 2023-09-19
    soldstatus $105,000

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$199/yr (+$17/mo · 10.3%)

ⓘ 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 ≥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: $25,068
• − Mortgage interest: −$8,318
• − Property taxes: −$1,933
• − Insurance: −$742
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − Depreciation: −$4,320
• Taxable income: $5,743
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $6,405/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): 9,466
• Household income: $54,380
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 244.0

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% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -59.59%
• Current HPI: 151.2076
• Rent YoY: —
• 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

+41.4% since first listed

4 events — show timeline

• 2026-05-15 Listed $148,500 MRED as Distributed by MLS Grid
• 2026-01-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-09 Listed — MRED as Distributed by MLS Grid
• 2023-09-19 Sold (Public Records) $105,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,933 · +44.5% YoY. Source: county tax records.