2323 W Lombard St · Davenport, IA 52804

$99,900

2 bd · 1.0 ba · 947 sqft · SingleFamily public records · 3 Days on market

Built 1950 6,098 sqft lot Est $163k · 39% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• 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

Listing remarks

Bring your vision and creativity to this 2-bedroom, 1-bath home that's ready for its next chapter. Whether you're looking for an affordable place to call home or an investment property with potential, this home offers a great opportunity to add your own style and updates. Featuring a functional layout and plenty of possibilities, this property is the perfect canvas for an owner-occupant looking to build equity or an investor seeking their next project. Put your own spin on the space and make it truly your own. Being sold "AS IS", this home is priced to reflect the opportunity it presents. With some imagination and effort, the possibilities are endless. "all information is est

Key facts

• 6,098 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Other: Below-grade finished area and unfinished basement present
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Built 71–80 years ago; Aluminum siding; Block foundation; Asphalt roof
• Exterior features: Level lot; Lot dimensions approximately 50 x 120; Less than 0.25 acre

Interior

• Kitchen: Range; Refrigerator; Kitchen on main level (linoleum flooring, 12 x 8)
• Bedrooms: Master bedroom on main level (hardwood flooring, 9 x 11); Second bedroom on main level (laminate flooring, 8 x 11); Two additional bedrooms listed
• Flooring: Hardwood in master bedroom; Laminate in living room and bedroom; Linoleum in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Four total rooms; Partially finished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $19 ($228/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 $93k (7.3% below list).
• Recommended offer: $93k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Wilson Elementary School (math 47% / reading 43%, grade D-, #547 of 616 statewide, top 89%, 433 students, 57% FRL); Williams Intermediate (math 33% / reading 37%, grade F, #243 of 246 statewide, top 99%, 423 students, 63% FRL); West High School (math 38% / reading 53%, grade D-, #323 of 336 statewide, top 96%, 1,469 students, 54% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising (+4.0%/yr); 162 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• This rent is only 17% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,589 (7.3% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $162,884
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2216 Jebens Ave	0.22mi	3/1.5 (+1)	912 (-4%)	2mo	$165,000	$181	74
2223 W Rusholme St	0.11mi	3/1.0 (+1)	1,044 (+10%)	1mo	$152,500	$146	72
1901 W 16th St	0.53mi	2/1.0	917 (-3%)	3mo	$139,900	$153	68
1703 N Division St	0.63mi	2/1.0	960 (+1%)	3mo	$95,000	$99	66
2308 Wilkes Ave	0.43mi	2/1.0	1,045 (+10%)	2mo	$180,000	$172	60
2326 N Division St	0.55mi	2/1.0	1,020 (+8%)	2mo	$145,000	$142	59
3109 N Lincoln Ave	0.73mi	3/1.0 (+1)	951 (+0%)	2mo	$199,900	$210	59
2102 W 17th St	0.39mi	2/1.0	832 (-12%)	5mo	$134,000	$161	58
2926 W Lombard St	0.44mi	3/1.0 (+1)	1,034 (+9%)	4mo	$195,000	$189	56
2704 Wood Dale Ave	0.74mi	3/2.0 (+1)	975 (+3%)	1mo	$160,000	$164	50
2905 N Pine St	0.61mi	3/1.0 (+1)	1,040 (+10%)	5mo	$200,750	$193	46
1119 N Thornwood Ave Ave	0.73mi	3/2.0 (+1)	864 (-9%)	3mo	$188,500	$218	40

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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-14,021
• Equity at exit: $14,895

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-6,642
• Equity at exit: $8,638

Cash invested: $27,972 (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: 162
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $926 high
• Mortgage (P&I): −$524
• Tax from tax record: −$147 /mo · $1,764/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $19

Break-even live

Break-even rent $902

Max offer price $99,900

Occupancy floor 93%

Sensitivity live

Price	-10% $76	-5% $47	+0% $19	+5% $-9	+10% $-38
Rent	-10% $-54	-5% $-18	+0% $19	+5% $56	+10% $92
Rate	-1.0pp $69	-0.5pp $44	base $19	+0.5pp $-7	+1.0pp $-33

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 W 15th St Davenport, IA	1.0–2.0	1.0–2.0	950	$895	$0.94	15d	1	0.40mi
2608 Wilkes Ave Davenport, IA	2.0	1.0	755	$950	$1.26	23d	1	0.56mi
3240 Heatherton Dr Unit 2 Davenport, IA	1.0	1.0	660	$800	$1.21	45d	1	0.70mi
2827 N Elsie Ave Unit 3 Davenport, IA	2.0	1.0	610	$900	$1.48	15d	1	0.78mi
3359 Heatherton Dr #2 Davenport, IA	1.0	1.0	670	$775	$1.16	45d	1	0.86mi
1622 Washington St Unit 4 Davenport, IA	1.0	1.0	530	$875	$1.65	45d	1	0.86mi
1445 W 16th St Unit 3 Davenport, IA	2.0	1.0	765	$915	$1.20	45d	1	0.93mi
1436 W 15th St Unit 1438 1/2 Davenport, IA	1.0	1.0	699	$695	$0.99	45d	1	0.96mi
1607 W 12th St Davenport, IA	1.0–2.0	1.0	800	$740	$0.93	45d	3	1.02mi
1455 W 12th St Davenport, IA	3.0	1.0	942	$1,095	$1.16	15d	1	1.05mi
1603 W 10th St Unit 2 Davenport, IA	1.0	1.0	900	$700	$0.78	45d	1	1.06mi
3536 Heatherton Dr Apt 1 Davenport, IA	1.0	1.0	600	$795	$1.32	45d	1	1.08mi
3536 Heatherton Dr Unit 4 Davenport, IA	2.0	1.0	700	$825	$1.18	15d	1	1.09mi
524 Lincoln Ct Unit 2 Davenport, IA	1.0	1.0	600	$850	$1.42	23d	1	1.12mi
3553 Heatherton Dr Davenport, IA	1.0–2.0	1.0	690	$875	$1.27	15d	2	1.12mi
627 N Division St Davenport, IA	2.0	1.0	800	$800	$1.00	45d	1	1.14mi
445 Waverly Rd Davenport, IA	2.0	1.0	980	$1,200	$1.22	45d	1	1.15mi
1011 W Locust St Apt 1 Davenport, IA	1.0	1.0	750	$675	$0.90	45d	1	1.27mi
1529 W 6th St Davenport, IA	2.0	1.0	794	$850	$1.07	15d	1	1.28mi
1508 W 36th St Davenport, IA	2.0	1.0	672	$1,300	$1.93	15d	1	1.36mi
1935 W 40th St Davenport, IA	2.0	1.0	585	$950	$1.62	15d	8	1.40mi

Listing history 3 events

1. 2026-06-21
   days on market $99,900 Active 3 DOM
2. 2026-06-18
   remarks 684-char remark
3. 2026-06-18
   listed $99,900 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: $1,764 · $147/mo
• Projected year-2 tax: $1,764 · $147/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 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: $11,111
• − Mortgage interest: −$5,596
• − Property taxes: −$1,764
• − Insurance: −$500
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$2,906
• Taxable loss: −$1,432
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $571/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

1 event — show timeline

• 2026-06-17 Listed $99,900 MRED as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $1,764 · +14.4% YoY. Source: county tax records.