2607 Crestview Dr

Bettendorf, IA 52722

$160,000B-

3 bd · 1.5 ba · 1,558 sqft · Built 1961 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,772/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$744
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-183/mo
• Annual: $-2,193/yr
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• 1% rule: 1.11%
• Cash to close: $44,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $160k.
• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (20.2% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $128k (20.2% below list) — sets the bar for cash-flow.
• 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.
• Location reads 81/100 on livability (#73 in IA, #1,579 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Bettendorf Community School District (suburban): math 74% / reading 75% proficiency, ranked #57 of 289 in IA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Bettendorf High School (math 71% / reading 77%, grade B+, #103 of 336 statewide, top 32%, 1,482 students, 31% FRL).
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: Rents rising (+2.9%/yr); 426 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• Scott County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.4% vs local median 3.0% in Bettendorf — 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.

Questions for listing agent

• 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?
• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.