2309 N Fairmount St · Davenport, IA 52804

$125,000

3 bd · 1.0 ba · 816 sqft · SingleFamily public records · 5 Days on market

Built 1953 7,405 sqft lot Est $153k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Are you a first-time home buyer looking for something cozy with a nice fully fenced in backyard? Or, are you an investor looking to add a ready-to-rent single family home to your portfolio? Maybe you're just looking for everything on one floor with minimal steps. Either way, this 3 beds 1 bath home is looking for it's new owner! One step up into the front door and you are greeted by the spacious living room with new LVP flooring that flows into the hall and bedrooms. Between the living room and kitchen is a half wall offering a semi-open concept layout. Both ceiling fans in the kitchen and living room are new, and each wall has received a fresh coat of paint. The front yard offers mature tr

Key facts

• Fire pit
• Large flat backyard
• Patio

Tags

• FULLY FENCED IN BACKYARD
• SEMI-OPEN CONCEPT LAYOUT
• MATURE TREES
• LARGE FLAT BACKYARD
• PATIO
• FIRE PIT

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Concrete driveway with off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story design; Fee simple ownership; Built before 1978 (age approx. 71–80 years); Asphalt roof; Aluminum siding
• Construction: Aluminum siding construction; Asphalt roof; Approximate total finished area 816 sq ft; Built approximately 71–80 years ago
• Exterior features: Patio; Fire pit; Level lot (less than 0.25 acre)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen with ceramic tile flooring (approx. 16 x 8)
• Bedrooms: 3 bedrooms (all on main level); Bedroom sizes include 10 x 10, 10 x 6, and 10 x 10
• Flooring: Luxury vinyl flooring in living room and bedrooms; Ceramic tile in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Screens on windows
• Laundry & utility: Main-level laundry (approx. 3 x 2)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-27 ($-323/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (15.1% below list).
• Recommended offer: $106k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 (+4.0%/yr); 161 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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 $100k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,099 (15.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1953 — 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. 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?
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 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: 0.85% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $153,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2232 N Nevada Ave	0.04mi	3/1.0	816 (0%)	5mo	$151,000	$185	94
2210 N Nevada Ave	0.07mi	2/1.0 (-1)	816 (0%)	3mo	$160,000	$196	89
2027 N Michigan Ave	0.23mi	3/1.0	832 (+2%)	2mo	$172,400	$207	84
2410 N Michigan Ave	0.11mi	3/1.0	864 (+6%)	1mo	$162,000	$188	84
2103 N. Michigan Ave	0.20mi	3/1.0	832 (+2%)	4mo	$137,500	$165	84
2109 N Michigan Ave	0.20mi	2/2.0 (-1)	816 (0%)	8mo	$170,000	$208	76
2031 N Fairmount St	0.19mi	2/1.0 (-1)	720 (-12%)	3mo	$119,000	$165	64
2110 N Fairmount St	0.16mi	3/2.0	912 (+12%)	8mo	$120,000	$132	62
2104 N Ohio Ave	0.22mi	3/2.0	936 (+15%)	2mo	$219,900	$235	59
1505 Meadowbrook Ct	0.57mi	3/2.0	867 (+6%)	8mo	$197,000	$227	52
2216 Jebens Ave	0.72mi	3/1.5	912 (+12%)	2mo	$165,000	$181	43
1309 Calvin St	0.74mi	2/1.0 (-1)	936 (+15%)	7mo	$145,000	$155	30

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 · 3.99% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.40×
• Total profit: $-20,886
• Equity at exit: $18,638

10-year hold

• IRR: -6.8%
• Equity multiple: 0.55×
• Total profit: $-15,857
• 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 52804

• Home prices YoY: -25.3%
• Rents YoY: 4.0%
• Active inventory: 161
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,061 high
• Mortgage (P&I): −$656
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-27

Break-even live

Break-even rent $1,095

Max offer price $120,245

Occupancy floor 98%

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2827 N Elsie Ave Unit 3 Davenport, IA	2.0	1.0	610	$900	$1.48	13d	1	0.52mi
3553 Heatherton Dr Davenport, IA	1.0–2.0	1.0	690	$875	$1.27	13d	2	0.57mi
3536 Heatherton Dr Unit 4 Davenport, IA	2.0	1.0	700	$825	$1.18	13d	1	0.58mi
901 W 15th St Davenport, IA	1.0–2.0	1.0–2.0	950	$895	$0.94	13d	1	1.19mi
2608 Wilkes Ave Davenport, IA	2.0	1.0	755	$950	$1.26	21d	1	1.39mi
445 Waverly Rd Davenport, IA	2.0	1.0	980	$1,200	$1.22	43d	1	1.50mi

Listing history 5 events

1. 2026-06-09
   status $125,000 Pending 5 DOM
2. 2026-06-08
   days on market $125,000 Active 5 DOM
3. 2026-06-07
   days on market $125,000 Active 4 DOM
4. 2026-06-03
   remarks 699-char remark
5. 2026-06-03
   listed $125,000 Active 1 DOM

ⓘ 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: $1,890 · $158/mo
• Projected year-2 tax: $1,926 · $161/mo
• Expected delta: +$36/yr (+$3/mo · 1.9%)

ⓘ 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: $12,732
• − Mortgage interest: −$7,002
• − Property taxes: −$1,890
• − Insurance: −$625
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$3,636
• Taxable loss: −$2,459
• Est. tax savings @ 24.0%: +$590
• After-tax cash flow: $267/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

+120.1% since first listed

8 events — show timeline

• 2026-06-03 Listed $125,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-02-13 Sold (Public Records) $100,000 Public Records
• 2006-05-01 Sold (Public Records) $65,000 Public Records
• 2006-04-24 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2006-03-23 Listed $69,000 RMLSA as Distributed by MLS Grid
• 2004-01-30 Sold (MLS) $57,550 RMLSA as Distributed by MLS Grid
• 2003-12-16 Listed $56,789 RMLSA as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $1,890 · +2.5% YoY. Source: county tax records.