827-829 W 15th St · Davenport, IA 52804

$89,900

4 bd · 2.5 ba · 1,978 sqft · MultiFamily public records · 27 Days on market

Built 1900 3,484 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 2 units. confirmed

Listing remarks

Excellent investment opportunity in central Davenport! this up/down duplex features 2 2 bedroom units with recent leases at $825 a month. Seller would like to sell as a package with 1704 w 55th st, 1705 w 55th st and 1621 Gaines.

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.1% 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; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 runs 36% 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 $622 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $62k; 44% 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 $88,551 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.21% ✓
• Cap rate: 19.14%
• Cash-on-cash: 45.87%
• DSCR: 3.04
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 44.2%
• Equity multiple: 2.94×
• Total profit: $48,735
• Equity at exit: $13,404

10-year hold

• IRR: 50.6%
• Equity multiple: 6.16×
• Total profit: $129,796
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,985 high
• Mortgage (P&I): −$471
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $962

Break-even live

Break-even rent $767

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,013	-5% $988	+0% $962	+5% $937	+10% $911
Rent	-10% $805	-5% $884	+0% $962	+5% $1,041	+10% $1,119
Rate	-1.0pp $1,008	-0.5pp $985	base $962	+0.5pp $939	+1.0pp $915

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,984
Total (2 units)			$1,985

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	44d	1	0.09mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	22d	1	0.14mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	14d	1	0.19mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	22d	1	0.20mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	44d	1	0.25mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	22d	1	0.40mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	44d	1	0.56mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	44d	1	0.68mi
1723 W Locust St Davenport, IA	3.0	1.0	1690	$1,395	$0.83	44d	1	0.87mi
1716 W 7th St Davenport, IA	4.0	1.0	1278	$1,712	$1.34	14d	1	0.93mi
511 Pershing Ave Unit 106E Davenport, IA	3.0	2.0	1349	$1,996	$1.48	44d	1	1.05mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	44d	1	1.05mi
427 Pershing Ave Davenport, IA	3.0	2.0	1438	$2,288	$1.59	14d	3	1.08mi
212 N Brady St Davenport, IA	2.0–3.0	2.0–3.0	1428	$2,600	$1.82	14d	4	1.09mi
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	44d	1	1.21mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,868	$1.57	22d	1	1.35mi

Listing history 23 events

1. 2026-06-18
   days on market $89,900 Active 27 DOM
2. 2026-06-17
   days on market $89,900 Active 26 DOM
3. 2026-06-16
   days on market $89,900 Active 25 DOM
4. 2026-06-15
   days on market $89,900 Active 24 DOM
5. 2026-06-14
   days on market $89,900 Active 22 DOM
6. 2026-06-13
   days on market $89,900 Active 21 DOM
7. 2026-06-10
   days on market $89,900 Active 19 DOM
8. 2026-06-09
   days on market $89,900 Active 18 DOM
9. 2026-06-08
   days on market $89,900 Active 17 DOM
10. 2026-06-07
    days on market $89,900 Active 16 DOM
11. 2026-06-03
    days on market $89,900 Active 12 DOM
12. 2026-06-02
    days on market $89,900 Active 11 DOM
13. 2026-06-01
    days on market $89,900 Active 10 DOM
14. 2026-05-31
    days on market $89,900 Active 9 DOM
15. 2026-05-30
    days on market $89,900 Active 8 DOM
16. 2026-05-22
    listed $89,900 Active
17. 2025-09-27
    historical $825
18. 2025-09-25
    listed $825
19. 2020-01-15
    soldstatus $62,500
20. 2019-12-20
    soldstatus $62,500
21. 2019-12-20
    soldstatus $62,500
22. 2019-11-22
    listed $65,000
23. 2019-11-22
    listed $65,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,288 · $107/mo
• Expected delta: +$124/yr (+$10/mo · 10.6%)

ⓘ 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: $23,820
• − Mortgage interest: −$5,036
• − Property taxes: −$1,164
• − Insurance: −$450
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − Depreciation: −$2,615
• Taxable income: $10,744
• Est. tax owed @ 24.0%: −$2,579
• After-tax cash flow: $8,968/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

+38.3% since first listed

8 events — show timeline

• 2026-05-22 Listed $89,900 MRED as Distributed by MLS Grid
• 2025-09-27 Rental Removed $825 APPFOLIO
• 2025-09-25 Listed for Rent $825 APPFOLIO
• 2020-01-15 Sold (Public Records) $62,500 Public Records
• 2019-12-20 Sold (MLS) $62,500 MRED as Distributed by MLS Grid
• 2019-12-20 Sold (MLS) $62,500 RMLSA as Distributed by MLS Grid
• 2019-11-22 Listed $65,000 MRED as Distributed by MLS Grid
• 2019-11-22 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2025): $1,164 · -11.7% YoY. Source: county tax records.