1202 Adams St · Davenport, IA 52803

$150,000

4 bd · 3.0 ba · 2,097 sqft · MultiFamily public records · 48 Days on market

Built 1892 0.33 ac lot Est $183k · 18% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Affordable income property. This duplex features 2, 2BR units on large lot with parking slab. Property being sold As Is. ACCEPTED OFFER IN PROGRESS 1/15.

Key facts

• Fully rented duplex
• 0.33 acre lot
• Built 1892

Tags

• FULLY RENTED DUPLEX
• RECENT EXTERIOR PAINTING
• INCOME PRODUCING PROPERTIES

Property features AI

Finance

• Other: Directions: Bridge Ave, east on 12th St. Corner of 12th & Adams
• Financial info: Two-unit building; Current rents listed: $800 and $845; Security deposit listed as $0 for one unit; Possession at closing; tenants' rights honored

Exterior

• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Over 100 years old; Built before 1978
• Construction: Asphalt roof; Other foundation; Other construction materials
• Exterior features: Corner lot; Lot dimensions approximately 112 x 128; Lot roughly 0.25–0.49 acre

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two bedrooms (per unit)
• Bathrooms: One full bathroom (per unit); Two full bathrooms in building total
• Heating & cooling: Natural gas heating
• Interior features: Five-room unit layout (per unit)
• Laundry & utility: Tenant pays electric, gas, heat and water (per unit)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 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 $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 + 4.6% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $20k; list at $150k implies a 650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1892 — 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: 1.47% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.95%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (median comp): $182,815
• List price: $150,000
• Delta: -17.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.57×
• Total profit: $23,735
• Equity at exit: $22,365

10-year hold

• IRR: 23.9%
• Equity multiple: 3.22×
• Total profit: $93,073
• Equity at exit: $12,969

Cash invested: $42,000 (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 52803

• Home prices YoY: -34.5%
• Rents YoY: 4.6%
• Active inventory: 160
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,206 high
• Mortgage (P&I): −$787
• Tax from tax record: −$196 /mo · $2,346/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $698

Break-even live

Break-even rent $1,322

Max offer price $150,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,206
Total (2 units)			$2,206

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1527 Fulton Ct Davenport, IA	4.0	2.0	1850	$1,775	$0.96	44d	1	0.22mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,868	$1.57	21d	1	0.76mi
2220 E Lombard St Davenport, IA	3.0	2.0	1500	$1,620	$1.08	44d	1	0.79mi
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	44d	1	0.82mi
309 E 11th St Davenport, IA	5.0	2.0	2925	$1,495	$0.51	21d	1	0.93mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	44d	1	1.05mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	44d	1	1.08mi
427 Pershing Ave Davenport, IA	3.0	2.0	1438	$2,288	$1.59	14d	3	1.10mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	1.32mi
212 N Brady St Davenport, IA	2.0–3.0	2.0–3.0	1428	$2,600	$1.82	14d	4	1.35mi

Listing history 28 events

1. 2026-06-18
   days on market $150,000 Active 48 DOM
2. 2026-06-17
   days on market $150,000 Active 47 DOM
3. 2026-06-16
   days on market $150,000 Active 46 DOM
4. 2026-06-15
   days on market $150,000 Active 45 DOM
5. 2026-06-14
   days on market $150,000 Active 43 DOM
6. 2026-06-13
   days on market $150,000 Active 42 DOM
7. 2026-06-10
   days on market $150,000 Active 40 DOM
8. 2026-06-09
   days on market $150,000 Active 39 DOM
9. 2026-06-08
   days on market $150,000 Active 38 DOM
10. 2026-06-07
    days on market $150,000 Active 37 DOM
11. 2026-06-03
    days on market $150,000 Active 33 DOM
12. 2026-06-02
    days on market $150,000 Active 32 DOM
13. 2026-06-01
    days on market $150,000 Active 31 DOM
14. 2026-05-31
    days on market $150,000 Active 30 DOM
15. 2026-05-30
    days on market $150,000 Active 29 DOM
16. 2026-05-01
    listed $150,000 Active 271-char remark
17. 2026-02-28
    historical
18. 2026-01-14
    price
19. 2026-01-14
    status Active
20. 2026-01-14
    historical
21. 2026-01-08
    status Active
22. 2026-01-06
    historical
23. 2026-01-05
    historical
24. 2025-10-31
    listed Active
25. 2018-03-07
    soldstatus $20,000

    Show marketing remark (153 chars)

    Affordable income property. This duplex features 2, 2BR units on large lot with parking slab. Property being sold As Is. ACCEPTED OFFER IN PROGRESS 1/15.

26. 2018-03-07
    soldstatus $20,000

    Show marketing remark (153 chars)

    Affordable income property. This duplex features 2, 2BR units on large lot with parking slab. Property being sold As Is. ACCEPTED OFFER IN PROGRESS 1/15.

27. 2017-09-19
    listed $20,000

    Show marketing remark (153 chars)

    Affordable income property. This duplex features 2, 2BR units on large lot with parking slab. Property being sold As Is. ACCEPTED OFFER IN PROGRESS 1/15.

28. 2017-09-19
    listed $20,000

    Show marketing remark (153 chars)

    Affordable income property. This duplex features 2, 2BR units on large lot with parking slab. Property being sold As Is. ACCEPTED OFFER IN PROGRESS 1/15.

ⓘ 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: $2,346 · $196/mo
• Projected year-2 tax: $2,350 · $196/mo
• Expected delta: +$4/yr ($0/mo · 0.2%)

ⓘ 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 · 15 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: $26,472
• − Mortgage interest: −$8,402
• − Property taxes: −$2,346
• − Insurance: −$750
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$4,364
• Taxable income: $6,375
• Est. tax owed @ 24.0%: −$1,530
• After-tax cash flow: $6,848/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

+650.0% since first listed

15 events — show timeline

• 2026-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-05-01 Listed $150,000 MRED as Distributed by MLS Grid
• 2026-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-14 Price Changed — 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
• 2025-10-31 Listed — RMLSA as Distributed by MLS Grid
• 2018-03-07 Sold (MLS) $20,000 RMLSA as Distributed by MLS Grid
• 2018-03-07 Sold (MLS) $20,000 MRED as Distributed by MLS Grid
• 2017-09-19 Listed $20,000 RMLSA as Distributed by MLS Grid
• 2017-09-19 Listed $20,000 MRED as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $2,346 · -21.5% YoY. Source: county tax records.