2307 Farnam St · Davenport, IA 52803

$120,000

2 bd · 1.5 ba · 1,444 sqft · SingleFamily public records · 19 Days on market

Built 1879 10,018 sqft lot Est $183k · 35% 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 +11.1/30.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come on in and find a two story home with three bedrooms and two bathrooms located in the heart of the city. With a Formal Dining room and family room adjacent to the kitchen and a Bedroom with a half bath on the main floor. Home is very versatile inside and out with a Large yard and a 2 car garage off the alley and additional parking . Furnace was replaced in 2018. Laundry is located in the unfinished, but dry basement.

Key facts

• Formal dining room
• Unfinished basement
• Large yard

Tags

• FORMAL DINING ROOM
• FAMILY ROOM
• LARGE YARD
• 2 CAR GARAGE
• UNFINISHED BASEMENT

Property features AI

Finance

• Other: Built before 1978; Ownership: Fee Simple; Not currently leased; Parcel number available
• HOA & community: Street sidewalks, street lights, and paved streets

Exterior

• Parking: Detached garage with alley access (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; 2-story; Entry level: 1; Property faces unspecified direction
• Construction: More than 100 years old; Wood siding frame construction; Shingle roof; Concrete perimeter foundation
• Exterior features: Level lot; Lot dimensions approximately 60 x 170; Less than 0.25 acre

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (master and one bedroom on second level, one bedroom on main level)
• Flooring: Carpet in bedrooms and living room; Laminate in kitchen and dining room; Other flooring in basement laundry
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Partial, unfinished basement; Separate dining room
• Laundry & utility: Basement laundry with washer hookup and gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-49 ($-587/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (8.3% below list).
• Recommended offer: $110k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Madison Elementary School (math 28% / reading 25%, grade F, #611 of 616 statewide, top 99%, 379 students, 73% FRL); Central High School (math 45% / reading 64%, grade C-, #290 of 336 statewide, top 87%, 1,505 students, 47% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising fast (+4.6%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 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

• It's been on market 19 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1879 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,983 (8.3% 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 1879 — 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: 0.92% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $183,388
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2214 Grand Ave	0.10mi	3/1.5 (+1)	1,338 (-7%)	1mo	$136,000	$102	77
2627 Fair Ave	0.40mi	3/1.5 (+1)	1,447 (+0%)	0mo	$168,000	$116	76
2409 Farnam St	0.12mi	2/2.0	1,254 (-13%)	1mo	$159,000	$127	70
1102 Kirkwood Blvd	0.57mi	3/2.0 (+1)	1,428 (-1%)	1mo	$129,000	$90	64
2808 Farnam St	0.39mi	3/2.5 (+1)	1,377 (-5%)	2mo	$181,000	$131	64
420 Kirkwood Blvd Blvd	0.45mi	3/1.5 (+1)	1,582 (+10%)	4mo	$64,000	$40	54
3105 Jefferson Ave	0.64mi	3/2.0 (+1)	1,386 (-4%)	2mo	$185,000	$133	54
2716 Davenport Ave	0.37mi	3/1.5 (+1)	1,636 (+13%)	2mo	$180,000	$110	54
2211 Western Ave	0.72mi	3/2.0 (+1)	1,484 (+3%)	3mo	$175,000	$118	52
119 E Hayes St	0.43mi	3/1.0 (+1)	1,232 (-15%)	2mo	$187,000	$152	47
3001 Davenport Ave	0.61mi	3/2.0 (+1)	1,296 (-10%)	1mo	$189,000	$146	47
3036 Tremont Ave	0.70mi	3/2.0 (+1)	1,304 (-10%)	2mo	$245,000	$188	42

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: -17.2%
• Equity multiple: 0.38×
• Total profit: $-20,723
• Equity at exit: $17,892

10-year hold

• IRR: -6.1%
• Equity multiple: 0.57×
• Total profit: $-14,290
• Equity at exit: $10,375

Cash invested: $33,600 (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: 165
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,100 high
• Mortgage (P&I): −$629
• Tax from tax record: −$238 /mo · $2,861/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-49

Break-even live

Break-even rent $1,162

Max offer price $111,364

Occupancy floor 99%

Sensitivity live

Price	-10% $19	-5% $-15	+0% $-49	+5% $-83	+10% $-117
Rent	-10% $-136	-5% $-92	+0% $-49	+5% $-5	+10% $38
Rate	-1.0pp $12	-0.5pp $-18	base $-49	+0.5pp $-80	+1.0pp $-112

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 Farnam St Unit 2211 Davenport, IA	3.0	1.0	1138	$1,050	$0.92	23d	1	0.04mi
2224 Iowa St Davenport, IA	2.0	1.0	1214	$895	$0.74	45d	1	0.18mi
2224 Iowa St Unit 2224 Davenport, IA	2.0	1.0	1214	$925	$0.76	45d	1	0.18mi
1724 Farnam St Unit upper Davenport, IA	1.0	1.0	985	$725	$0.74	23d	1	0.39mi
1812 Pershing Ave Unit 1 Davenport, IA	3.0	1.0	1000	$1,200	$1.20	23d	1	0.43mi
201 E Locust St Unit Sw Davenport, IA	2.0	1.0	1000	$875	$0.88	45d	1	0.44mi
320 E 29th St Davenport, IA	2.0	2.5	1450	$1,750	$1.21	45d	1	0.49mi
317 Kirkwood Blvd Davenport, IA	2.0	1.0	1300	$950	$0.73	45d	1	0.52mi
2925 Dubuque St Unit 5N Davenport, IA	2.0	2.0	895	$825	$0.92	15d	1	0.53mi
1421 Grand Ave Unit 1 Davenport, IA	2.0	1.0	1015	$850	$0.84	45d	1	0.57mi
2809 N Main St Davenport, IA	3.0	1.5	1000	$1,350	$1.35	23d	1	0.60mi
1301 Arlington Ave Unit 1305 Davenport, IA	2.0	1.0	900	$895	$0.99	15d	1	0.72mi
1615 1/2 N Ripley St Davenport, IA	2.0	1.0	900	$825	$0.92	45d	1	0.73mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	45d	1	0.73mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	45d	1	0.77mi
1519 N Ripley St Davenport, IA	2.0	1.0	1144	$1,100	$0.96	15d	1	0.77mi
1017 E 13th St Unit 1017 Davenport, IA	2.0	1.0	1335	$950	$0.71	23d	1	0.79mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	45d	1	0.89mi
102 W 35th St Unit 130E_35R Davenport, IA	2.0	2.0	1200	$1,100	$0.92	15d	1	0.90mi
102 W 35th St Unit 119W_35R Davenport, IA	2.0	2.0	1200	$1,050	$0.88	45d	1	0.90mi
102 W 35th St Unit 104E_35R Davenport, IA	2.0	2.0	1200	$1,050	$0.88	23d	1	0.90mi
102 W 35th St Unit 128E_35R Davenport, IA	2.0	2.0	1200	$1,100	$0.92	23d	1	0.90mi
102 W 35th St Unit 105W_35 Davenport, IA	3.0	2.0	1500	$1,150	$0.77	45d	1	0.90mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	23d	1	1.10mi
1318 1/2 Brown St Davenport, IA	2.0	1.0	900	$875	$0.97	23d	1	1.12mi
2220 E Lombard St Davenport, IA	3.0	2.0	1500	$1,620	$1.08	45d	1	1.14mi
321 E 7th St Davenport, IA	1.0–2.0	1.0	825	$1,050	$1.27	15d	4	1.18mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	45d	1	1.19mi
3705 College Ave Davenport, IA	2.0	1.0	800	$1,095	$1.37	15d	7	1.22mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,559	$1.31	23d	1	1.24mi
511 Pershing Ave Unit 101W Davenport, IA	2.0	1.0	1280	$1,704	$1.33	45d	1	1.26mi
511 Pershing Ave Unit 102W Davenport, IA	2.0	1.0	1173	$1,506	$1.28	45d	1	1.26mi
511 Pershing Ave Unit 407W Davenport, IA	2.0	2.0	1175	$1,568	$1.33	45d	1	1.26mi
511 Pershing Ave Unit 402W Davenport, IA	2.0	2.0	1106	$1,478	$1.34	45d	1	1.26mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	45d	1	1.26mi
511 Pershing Ave Unit 202W Davenport, IA	2.0	1.0	1201	$1,601	$1.33	45d	1	1.26mi
511 Pershing Ave Unit 609W Davenport, IA	2.0	1.0	912	$1,317	$1.44	45d	1	1.26mi
511 Pershing Ave Unit 105E Davenport, IA	2.0	2.0	1100	$1,635	$1.49	45d	1	1.26mi
511 Pershing Ave Apt 602W Davenport, IA	2.0	2.0	948	$1,367	$1.44	45d	1	1.26mi
511 Pershing Ave Unit 106E Davenport, IA	3.0	2.0	1349	$1,996	$1.48	45d	1	1.26mi

Listing history 16 events

1. 2026-05-22
   status Active
2. 2026-01-08
   status Active
3. 2026-01-05
   historical
4. 2025-12-31
   historical
5. 2025-12-16
   price
6. 2025-07-01
   status Active
7. 2025-07-01
   historical
8. 2025-07-01
   historical
9. 2024-12-20
   listed Active
10. 2024-08-13
    soldstatus $60,000
11. 2021-08-06
    historical
12. 2021-08-06
    historical
13. 2021-08-06
    historical
14. 2021-08-06
    historical
15. 2014-08-11
    soldstatus $60,000
16. 1999-12-01
    historical

ⓘ 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: $2,861 · $238/mo
• Projected year-2 tax: $2,861 · $238/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: $13,198
• − Mortgage interest: −$6,722
• − Property taxes: −$2,861
• − Insurance: −$600
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$3,491
• Taxable loss: −$2,588
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $35/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

+0.0% since first listed

16 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-01 Relisted — RMLSA as Distributed by MLS Grid
• 2025-07-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-07-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-12-20 Listed — RMLSA as Distributed by MLS Grid
• 2024-08-13 Sold (Public Records) $60,000 Public Records
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2014-08-11 Sold (Public Records) $60,000 Public Records
• 1999-12-01 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $2,861 · -3.1% YoY. Source: county tax records.