1020 E 15th St St · Davenport, IA 52803

$60,000

3 bd · 3.0 ba · 2,282 sqft · SingleFamily public records

Built 1934 0.29 ac 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 +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large home for sale in Davenport, IA! The home features a large formal living area with extra nook, formal dining area and large kitchen. There are also 2 bedrooms, a full bathroom and a laundry room on the main floor. The second level features 2 large bedrooms and one full bathroom. With some vision and TLC this large home could be a wonderful place to call home or the next addition to your investment portfolio! This property would be a short sale.

Key facts

• 0.29 acre lot
• Built 1934

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 20.7% 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 fast (+4.6%/yr); 160 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $55k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 2.63% ✓
• Cap rate: 20.68%
• Cash-on-cash: 51.39%
• DSCR: 3.29
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $157,458
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 Grand Ave	0.27mi	4/2.0 (+1)	2,280 (-0%)	2mo	$155,400	$68	76
1422 Arlington Ave	0.13mi	4/1.5 (+1)	2,080 (-9%)	2mo	$118,500	$57	67
1925 Eastern Ave	0.55mi	3/1.0	2,270 (-0%)	0mo	$154,517	$68	65
918 Arlington Ct	0.16mi	4/2.0 (+1)	2,144 (-6%)	12mo	$133,900	$62	63
2034 Farnam St	0.51mi	4/2.0 (+1)	2,266 (-1%)	7mo	$190,000	$84	60
402 E Rusholme St	0.70mi	3/2.5	2,348 (+3%)	4mo	$110,000	$47	57
1616 Esplanade Ave	0.29mi	3/1.0	1,976 (-13%)	2mo	$85,000	$43	55
914 Farnam St	0.53mi	3/3.0	2,570 (+13%)	6mo	$189,900	$74	49
1936 Carey Ave	0.28mi	4/2.0 (+1)	1,988 (-13%)	9mo	$210,500	$106	49
908 Grand Ct	0.48mi	4/1.5 (+1)	2,558 (+12%)	1mo	$185,000	$72	46
410 Rusholme St E	0.68mi	4/2.5 (+1)	2,488 (+9%)	3mo	$350,000	$141	43
2125 Eastern Ave	0.63mi	2/2.5 (-1)	2,552 (+12%)	4mo	$176,500	$69	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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 51.3%
• Equity multiple: 3.31×
• Total profit: $38,725
• Equity at exit: $8,946

10-year hold

• IRR: 57.3%
• Equity multiple: 7.18×
• Total profit: $103,822
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,577 high
• Mortgage (P&I): −$315
• Tax from tax record: −$186 /mo · $2,238/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $720

Break-even live

Break-even rent $666

Max offer price $60,000

Occupancy floor 49%

Sensitivity live

Price	-10% $753	-5% $736	+0% $720	+5% $703	+10% $686
Rent	-10% $595	-5% $657	+0% $720	+5% $782	+10% $844
Rate	-1.0pp $750	-0.5pp $735	base $720	+0.5pp $704	+1.0pp $688

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	0.40mi
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	44d	1	0.68mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	44d	1	0.70mi
427 Pershing Ave Davenport, IA	3.0	2.0	1438	$2,288	$1.59	14d	3	0.93mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	0.95mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	14d	1	1.16mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	21d	1	1.17mi
212 N Brady St Davenport, IA	2.0–3.0	2.0–3.0	1428	$2,600	$1.82	14d	4	1.17mi

Listing history 23 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-01-07
   status Pending
5. 2026-01-05
   historical
6. 2025-12-11
   status Pending
7. 2025-12-10
   historical
8. 2025-12-10
   historical
9. 2025-12-10
   historical
10. 2025-12-10
    historical
11. 2025-12-10
    historical
12. 2025-12-10
    historical
13. 2025-10-27
    listed
14. 2025-10-27
    listed Active
15. 2021-08-06
    historical
16. 2016-08-01
    soldstatus $112,000
17. 2016-07-29
    soldstatus $112,000
18. 2016-07-29
    soldstatus $112,000
19. 2016-05-18
    listed $114,900
20. 2016-05-18
    listed $114,900
21. 2006-03-10
    soldstatus $94,000
22. 2006-03-09
    soldstatus $93,600
23. 2005-11-22
    listed $99,900

ⓘ 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: $2,238 · $186/mo
• Projected year-2 tax: $2,238 · $186/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 · 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: $18,921
• − Mortgage interest: −$3,361
• − Property taxes: −$2,238
• − Insurance: −$300
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$1,745
• Taxable income: $8,249
• Est. tax owed @ 24.0%: −$1,980
• After-tax cash flow: $6,654/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

+12.1% 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
• 2026-01-07 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-11 Pending — RMLSA as Distributed by MLS Grid
• 2025-12-10 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-27 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-27 Listed — MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2016-08-01 Sold (Public Records) $112,000 Public Records
• 2016-07-29 Sold (MLS) $112,000 RMLSA as Distributed by MLS Grid
• 2016-07-29 Sold (MLS) $112,000 MRED as Distributed by MLS Grid
• 2016-05-18 Listed $114,900 RMLSA as Distributed by MLS Grid
• 2016-05-18 Listed $114,900 MRED as Distributed by MLS Grid
• 2006-03-10 Sold (Public Records) $94,000 Public Records
• 2006-03-09 Sold (MLS) $93,600 RMLSA as Distributed by MLS Grid
• 2005-11-22 Listed $99,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $2,238 · +2.5% YoY. Source: county tax records.