402 E Pleasant St · Davenport, IA 52803

$135,900

4 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 20 Days on market

Built 1887 6,750 sqft lot Est $151k · 10% under

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Why this score? — see what drove the C+ 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 +22.8/30.0
• ARV discount +12.1/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• 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

Listing remarks MLS

Affordable 4-Bedroom Home in the Heart of Davenport! This 4-bedroom, 1-bath, 1.5-story home offers classic character and a welcoming layout. Enjoy a spacious living room, formal dining space, and an eat-in kitchen perfect for everyday living. The upper level provides additional bedrooms for flexibility, whether you need guest rooms, a home office, or hobby space. Located on a corner lot in a convenient Davenport location close to parks, schools, and shopping, this home is ready for its next chapter. Perfect for buyers seeking an affordable property with endless potential.

Key facts

• Attached bonus room
• Generous lot size
• 6,750 sq ft lot

Tags

• EXTENSIVE FRESH RENOVATIONS
• VERSATILE 4TH BEDROOM
• ATTACHED BONUS ROOM
• VINYL DOUBLE-PANE WINDOWS
• GENEROUS LOT SIZE
• CONVENIENT STORAGE SHED

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Recommended offer: $134k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $940 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 20 days — a 2% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $70k; list at $136k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,861 (1.5% below list)

Questions for the listing agent

1. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $151,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 E Pleasant St	0.00mi	4/1.0	1,300 (-0%)	0mo	$140,000	$108	99
2214 Grand Ave	0.30mi	3/1.5 (-1)	1,338 (+3%)	1mo	$136,000	$102	74
119 E Hayes St	0.56mi	3/1.0 (-1)	1,232 (-6%)	1mo	$187,000	$152	58
2528 Farnam St	0.44mi	4/1.0	1,496 (+15%)	1mo	$100,000	$67	54
2709 Iowa St	0.55mi	3/1.0 (-1)	1,197 (-8%)	2mo	$150,000	$125	54
2627 Fair Ave	0.50mi	3/1.5 (-1)	1,447 (+11%)	0mo	$168,000	$116	51
2218 Western Ave	0.64mi	5/2.5 (+1)	1,370 (+5%)	0mo	$55,000	$40	50
209 E 13th St	0.49mi	3/1.0 (-1)	1,144 (-12%)	2mo	$45,000	$39	50
2808 Farnam St	0.62mi	3/2.5 (-1)	1,377 (+6%)	2mo	$181,000	$131	50
1102 Kirkwood Blvd	0.55mi	3/2.0 (-1)	1,428 (+10%)	0mo	$129,000	$90	49
637 E Columbia Ave	0.54mi	3/1.0 (-1)	1,144 (-12%)	2mo	$174,500	$153	48
2707 Iowa St	0.54mi	3/2.0 (-1)	1,159 (-11%)	2mo	$199,900	$172	46

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: -3.3%
• Equity multiple: 0.87×
• Total profit: $-4,788
• Equity at exit: $20,263

10-year hold

• IRR: 8.0%
• Equity multiple: 1.65×
• Total profit: $24,670
• Equity at exit: $11,750

Cash invested: $38,052 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$713
• Tax from tax record: −$112 /mo · $1,344/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $235

Break-even live

Break-even rent $1,116

Max offer price $135,900

Occupancy floor 78%

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: $33,975
• Closing costs: $4,077
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 Pershing Ave Unit 1 Davenport, IA	3.0	1.0	1000	$1,200	$1.20	21d	1	0.17mi
2209 Farnam St Unit 2211 Davenport, IA	3.0	1.0	1138	$1,050	$0.92	21d	1	0.23mi
1421 N Main St #2 Davenport, IA	3.0	1.0	1350	$1,095	$0.81	43d	1	0.47mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	43d	1	0.52mi
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	0.53mi
537 W 16th St Davenport, IA	3.0	1.0	1311	$1,400	$1.07	43d	1	0.66mi
2809 N Main St Davenport, IA	3.0	1.5	1000	$1,350	$1.35	21d	1	0.68mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	13d	1	0.73mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	21d	1	0.78mi
1315 Brown St Unit 2 Davenport, IA	3.0	1.0	1300	$1,250	$0.96	21d	1	0.86mi
1527 Fulton Ct Davenport, IA	4.0	2.0	1850	$1,775	$0.96	43d	1	0.95mi
915 W 14th St Davenport, IA	3.0	1.0	1390	$900	$0.65	43d	1	0.96mi
616 E 6th St Davenport, IA	4.0	1.0	1578	$1,712	$1.08	43d	1	0.98mi
511 Pershing Ave Unit 301E Davenport, IA	3.0	2.0	1429	$2,126	$1.49	43d	1	1.04mi
511 Pershing Ave Unit 106E Davenport, IA	3.0	2.0	1349	$1,996	$1.48	43d	1	1.04mi
102 W 35th St Unit 105W_35 Davenport, IA	3.0	2.0	1500	$1,150	$0.77	43d	1	1.06mi
736 Federal St Davenport, IA	1.0–3.0	1.0–2.0	1186	$1,868	$1.57	21d	1	1.07mi
427 Pershing Ave Davenport, IA	3.0	2.0	1438	$2,288	$1.59	13d	3	1.08mi
427 N Brady St Unit 1 Davenport, IA	3.0	1.5	1126	$1,359	$1.21	43d	1	1.10mi
401 Brady St Davenport, IA	1.0–3.0	1.0–2.0	870	$2,100	$2.41	13d	2	1.15mi
212 N Brady St Davenport, IA	2.0–3.0	2.0–3.0	1428	$2,600	$1.82	13d	4	1.28mi
2220 E Lombard St Davenport, IA	3.0	2.0	1500	$1,620	$1.08	43d	1	1.31mi
1455 W 12th St Davenport, IA	3.0	1.0	942	$1,095	$1.16	13d	1	1.48mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-08
   listed $135,900 Active
3. 2025-09-23
   soldstatus $70,000
4. 2025-09-19
   soldstatus $70,000 Closed 578-char remark

   Show marketing remark (578 chars)

   Affordable 4-Bedroom Home in the Heart of Davenport! This 4-bedroom, 1-bath, 1.5-story home offers classic character and a welcoming layout. Enjoy a spacious living room, formal dining space, and an eat-in kitchen perfect for everyday living. The upper level provides additional bedrooms for flexibility, whether you need guest rooms, a home office, or hobby space. Located on a corner lot in a convenient Davenport location close to parks, schools, and shopping, this home is ready for its next chapter. Perfect for buyers seeking an affordable property with endless potential.

5. 2025-08-31
   status Pending 578-char remark

   Show marketing remark (578 chars)

   Affordable 4-Bedroom Home in the Heart of Davenport! This 4-bedroom, 1-bath, 1.5-story home offers classic character and a welcoming layout. Enjoy a spacious living room, formal dining space, and an eat-in kitchen perfect for everyday living. The upper level provides additional bedrooms for flexibility, whether you need guest rooms, a home office, or hobby space. Located on a corner lot in a convenient Davenport location close to parks, schools, and shopping, this home is ready for its next chapter. Perfect for buyers seeking an affordable property with endless potential.

6. 2025-08-15
   listed $89,900 Active 578-char remark

   Show marketing remark (578 chars)

   Affordable 4-Bedroom Home in the Heart of Davenport! This 4-bedroom, 1-bath, 1.5-story home offers classic character and a welcoming layout. Enjoy a spacious living room, formal dining space, and an eat-in kitchen perfect for everyday living. The upper level provides additional bedrooms for flexibility, whether you need guest rooms, a home office, or hobby space. Located on a corner lot in a convenient Davenport location close to parks, schools, and shopping, this home is ready for its next chapter. Perfect for buyers seeking an affordable property with endless potential.

ⓘ 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: $1,344 · $112/mo
• Projected year-2 tax: $1,739 · $145/mo
• Expected delta: +$395/yr (+$33/mo · 29.4%)

ⓘ 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: $16,960
• − Mortgage interest: −$7,613
• − Property taxes: −$1,344
• − Insurance: −$680
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$3,953
• Taxable income: $657
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $2,665/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

+51.2% since first listed

6 events — show timeline

• 2026-04-28 Pending — MRED as Distributed by MLS Grid
• 2026-04-08 Listed $135,900 MRED as Distributed by MLS Grid
• 2025-09-23 Sold (Public Records) $70,000 Public Records
• 2025-09-19 Sold (MLS) $70,000 RMLSA as Distributed by MLS Grid
• 2025-08-31 Pending — RMLSA as Distributed by MLS Grid
• 2025-08-15 Listed $89,900 RMLSA as Distributed by MLS Grid

Property tax history

-1.7%/yr

Latest (2025): $1,344 · -5.6% YoY. Source: county tax records.