5510 N Division St · Davenport, IA 52806

$179,000

6 bd · 3.5 ba · 2,124 sqft · MultiFamily public records

Built 1976 7,370 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.0/5.0
• 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

Great opportunity on a 3 br side by side duplex. Both units currently vacant, easy to show. Could be a great owner occupied opportunity. Property features 3 BR, 1.5 BA, separately metered, laundry hook-ups and a deck. Could be packaged with 5524, 5436, and 5516.

Key facts

• 7,370 sq ft lot
• Built 1976

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive. Per door: $404/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Cap rate 11.7% 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 (+1.8%/yr); 162 active listings in the ZIP; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• This rent runs 42% of the median local income ($74k/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 $5k 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 + 1.8% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $179,000

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 1976 — 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: 1.45% ✓
• Cap rate: 11.72%
• Cash-on-cash: 19.37%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.39×
• Total profit: $19,460
• Equity at exit: $26,689

10-year hold

• IRR: 18.1%
• Equity multiple: 2.42×
• Total profit: $71,058
• Equity at exit: $15,477

Cash invested: $50,120 (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 52806

• Rents YoY: 1.8%
• Active inventory: 162
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,592 high
• Mortgage (P&I): −$939
• Tax from tax record: −$226 /mo · $2,706/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $809

Break-even live

Break-even rent $1,568

Max offer price $179,000

Occupancy floor 64%

Sensitivity live

Price	-10% $910	-5% $860	+0% $809	+5% $758	+10% $708
Rent	-10% $604	-5% $706	+0% $809	+5% $911	+10% $1,014
Rate	-1.0pp $899	-0.5pp $854	base $809	+0.5pp $762	+1.0pp $715

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,592
Total (2 units)			$2,592

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-01-27
   soldstatus $175,000
5. 2026-01-20
   soldstatus $175,000 Closed
6. 2026-01-20
   soldstatus $175,000 Closed
7. 2026-01-20
   soldstatus $175,000 Closed
8. 2026-01-20
   soldstatus $175,000 Closed
9. 2026-01-08
   status Pending
10. 2026-01-05
    historical
11. 2025-11-07
    status Pending
12. 2025-11-06
    historical
13. 2025-11-06
    historical
14. 2025-10-14
    price
15. 2025-09-08
    price
16. 2025-08-22
    listed $179,000
17. 2025-08-22
    listed Active
18. 2025-08-10
    historical $1,000
19. 2025-07-18
    listed $1,000
20. 2022-10-05
    historical
21. 2021-08-06
    historical
22. 2020-03-27
    soldstatus $112,000
23. 2019-02-04
    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: $2,706 · $226/mo
• Projected year-2 tax: $2,758 · $230/mo
• Expected delta: +$52/yr (+$4/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: $31,104
• − Mortgage interest: −$10,027
• − Property taxes: −$2,706
• − Insurance: −$895
• − Repairs & maintenance: −$2,488
• − Management: −$2,488
• − Depreciation: −$5,207
• Taxable income: $7,292
• Est. tax owed @ 24.0%: −$1,750
• After-tax cash flow: $7,956/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): 26,871
• Household income: $74,297
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 735.0

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 (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Vietnamese 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: ▼ -127.41%
• Current HPI: 185.0808
• Rent YoY: ▲ 1.80%
• 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

+56.2% since first listed

23 events — show timeline

• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-22 Pending — MRED as Distributed by MLS Grid
• 2026-01-27 Sold (Public Records) $175,000 Public Records
• 2026-01-20 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2026-01-20 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2026-01-20 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2026-01-20 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2026-01-08 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-07 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-14 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-08 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-22 Listed — RMLSA as Distributed by MLS Grid
• 2025-08-22 Listed $179,000 MRED as Distributed by MLS Grid
• 2025-08-10 Rental Removed $1,000 APPFOLIO
• 2025-07-18 Listed for Rent $1,000 APPFOLIO
• 2022-10-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-03-27 Sold (Public Records) $112,000 Public Records
• 2019-02-04 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $2,706 · +8.8% YoY. Source: county tax records.