1812 Pershing Ave · Davenport, IA 52803

$187,900

6 bd · 2.5 ba · 2,480 sqft · MultiFamily public records · 98 Days on market

Built 1914 3,840 sqft lot Est $187k · at est.

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.3/15.0
• 1% rule +6.7/10.0
• 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

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

Numerous Updates. New Roof, newer mechanicals including wiring. Upper 3 bedroom unit has been freshly painted. Complete with carpet and flooring. Great investment property. Well worth the look. With good tenants

Key facts

• Freshly painted
• Investment property
• Carpet and flooring

Tags

• NEW ROOF
• NEWER MECHANICALS
• FRESHLY PAINTED
• CARPET AND FLOORING
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath multifamily listed at $188k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $171k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 1 comparable units currently listed for rent nearby; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• This rent runs 41% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $6k 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 + 4.6% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $131k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,989 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 1.17% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $187,039
• List price: $187,900
• Delta: 0.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 Arlington Ave	0.48mi	6/2.0	2,640 (+6%)	1mo	$118,000	$45	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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,927
• Equity at exit: $28,017

10-year hold

• IRR: 12.1%
• Equity multiple: 2.02×
• Total profit: $53,851
• Equity at exit: $16,246

Cash invested: $52,612 (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: 13.5×

Monthly cashflow live

• Estimated rent: $2,201 high
• Mortgage (P&I): −$985
• Tax from tax record: −$223 /mo · $2,672/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $452

Break-even live

Break-even rent $1,628

Max offer price $187,900

Occupancy floor 74%

Sensitivity live

Price	-10% $559	-5% $506	+0% $452	+5% $399	+10% $346
Rent	-10% $279	-5% $366	+0% $452	+5% $539	+10% $626
Rate	-1.0pp $547	-0.5pp $500	base $452	+0.5pp $404	+1.0pp $354

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,164
1× unit	2	0.5	$1,037
Total (2 units)			$2,201

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: $46,975
• Closing costs: $5,637
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 E 11th St Davenport, IA	5.0	2.0	2925	$1,495	$0.51	22d	1	0.50mi

Listing history 36 events

1. 2026-06-18
   days on market $187,900 Active 98 DOM
2. 2026-06-17
   days on market $187,900 Active 97 DOM
3. 2026-06-16
   days on market $187,900 Active 96 DOM
4. 2026-06-15
   days on market $187,900 Active 95 DOM
5. 2026-06-14
   days on market $187,900 Active 93 DOM
6. 2026-06-13
   days on market $187,900 Active 92 DOM
7. 2026-06-10
   days on market $187,900 Active 90 DOM
8. 2026-06-09
   days on market $187,900 Active 89 DOM
9. 2026-06-08
   days on market $187,900 Active 88 DOM
10. 2026-06-07
    days on market $187,900 Active 87 DOM
11. 2026-06-03
    days on market $187,900 Active 83 DOM
12. 2026-06-02
    days on market $187,900 Active 82 DOM
13. 2026-06-01
    days on market $187,900 Active 81 DOM
14. 2026-05-31
    days on market $187,900 Active 80 DOM
15. 2026-05-30
    days on market $187,900 Active 79 DOM
16. 2026-03-10
    listed $187,900 Active 211-char remark

    Show marketing remark (211 chars)

    Numerous Updates. New Roof, newer mechanicals including wiring. Upper 3 bedroom unit has been freshly painted. Complete with carpet and flooring. Great investment property. Well worth the look. With good tenants

17. 2026-02-25
    historical
18. 2026-01-14
    status Active
19. 2026-01-14
    historical
20. 2026-01-08
    status Active
21. 2026-01-06
    historical
22. 2026-01-05
    historical
23. 2025-10-21
    listed Active
24. 2025-08-23
    historical
25. 2025-08-22
    historical
26. 2025-05-22
    listed Active
27. 2025-05-15
    historical
28. 2025-05-14
    historical
29. 2025-03-27
    price
30. 2025-01-30
    listed Active
31. 2022-02-28
    soldstatus $131,000
32. 2022-02-25
    soldstatus $133,000
33. 2022-02-25
    soldstatus $133,000
34. 2021-10-13
    listed $144,900
35. 2021-10-13
    listed $144,900
36. 2018-11-05
    soldstatus $132,500

ⓘ 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: $2,672 · $223/mo
• Projected year-2 tax: $2,811 · $234/mo
• Expected delta: +$139/yr (+$12/mo · 5.2%)

ⓘ 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: $26,412
• − Mortgage interest: −$10,525
• − Property taxes: −$2,672
• − Insurance: −$940
• − Repairs & maintenance: −$2,113
• − Management: −$2,113
• − Depreciation: −$5,466
• Taxable income: $2,583
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $4,810/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

+41.8% since first listed

21 events — show timeline

• 2026-03-10 Listed $187,900 MRED as Distributed by MLS Grid
• 2026-02-25 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-14 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 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
• 2025-10-21 Listed — RMLSA as Distributed by MLS Grid
• 2025-08-23 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-08-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-22 Listed — RMLSA as Distributed by MLS Grid
• 2025-05-15 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-05-14 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-27 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-01-30 Listed — RMLSA as Distributed by MLS Grid
• 2022-02-28 Sold (Public Records) $131,000 Public Records
• 2022-02-25 Sold (MLS) $133,000 RMLSA as Distributed by MLS Grid
• 2022-02-25 Sold (MLS) $133,000 MRED as Distributed by MLS Grid
• 2021-10-13 Listed $144,900 RMLSA as Distributed by MLS Grid
• 2021-10-13 Listed $144,900 MRED as Distributed by MLS Grid
• 2018-11-05 Sold (Public Records) $132,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,672 · +2.5% YoY. Source: county tax records.