2103 E Lombard St · Davenport, IA 52803

$224,700

6 bd · 2.5 ba · 2,442 sqft · MultiFamily public records · 73 Days on market

Built 1945 6,969 sqft lot

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Don't miss out on this one. Beautiful all brick duplex in a great location! Two very large units with hardwood floors. Both units have 3 bedrooms, 1 bath, a a fireplace. Fenced yard, lower unit has a nice deck and there is a patio. Detached 2 car garage. Plenty of on and off street parking. Separate gas and electric, and water meters. Owner only pays lawn care and snow removal. All windows new and exterior trim wrapped in 2017. The roof was replaced in 2019. The exterior is virtually maintenance free. Great owner occupant opportunity or as an investment. FHA, VA loans ok. Allowing showings of the main level unit and basement. All offers to be written subject to viewing the upper unit and ga

Key facts

• All brick duplex
• Fenced yard
• Nice deck

Tags

• ALL BRICK DUPLEX
• HARDWOOD FLOORS
• FENCED YARD
• NICE DECK
• PATIO
• NEW WINDOWS

Property features AI

Finance

• Financial info: Gross annual income reported at $28,800; Annual water/sewer expense approximately $1,500; Annual insurance expense approximately $2,500

Exterior

• Parking: Detached garage with alley access; Guest parking available
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Built before 1978
• Construction: Block foundation; Estimated age: 71–80 years
• Exterior features: Fenced yard; Corner, level lot; Lot dimensions approximately 45 x 150

Interior

• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; Gas water heater
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive. Per door: $185/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $211k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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); 165 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 805 units permitted in Scott County in 2024 (479 in 5+ unit buildings).
• At $2,525/mo this rent would consume 47% of the median local household income ($65k/yr) (locally 630% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 73 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,218 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.12% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-8,727
• Equity at exit: $33,504

10-year hold

• IRR: 7.8%
• Equity multiple: 1.64×
• Total profit: $40,226
• Equity at exit: $19,428

Cash invested: $62,916 (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: 14.8×

Monthly cashflow live

• Estimated rent: $2,525 high
• Mortgage (P&I): −$1,178
• Tax from tax record: −$353 /mo · $4,236/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $370

Break-even live

Break-even rent $2,057

Max offer price $224,700

Occupancy floor 80%

Sensitivity live

Price	-10% $497	-5% $433	+0% $370	+5% $306	+10% $243
Rent	-10% $170	-5% $270	+0% $370	+5% $470	+10% $569
Rate	-1.0pp $483	-0.5pp $427	base $370	+0.5pp $312	+1.0pp $252

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,524
Total (2 units)			$2,525

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: $56,175
• Closing costs: $6,741
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 E 11th St Davenport, IA	5.0	2.0	2925	$1,495	$0.51	22d	1	1.50mi

Listing history 13 events

1. 2026-05-22
   listed $224,700 Active
2. 2026-04-06
   soldstatus $200,000
3. 2026-04-03
   soldstatus Closed
4. 2026-03-02
   status Pending
5. 2026-01-14
   status Active
6. 2026-01-14
   historical
7. 2026-01-08
   status Active
8. 2026-01-06
   historical
9. 2026-01-05
   historical
10. 2025-12-03
    price
11. 2025-11-03
    price
12. 2025-10-16
    listed Active
13. 2025-09-17
    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: $4,236 · $353/mo
• Projected year-2 tax: $4,236 · $353/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: $30,300
• − Mortgage interest: −$12,587
• − Property taxes: −$4,236
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − Depreciation: −$6,537
• Taxable income: $969
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $4,205/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

+12.3% since first listed

13 events — show timeline

• 2026-05-22 Listed $224,700 MRED as Distributed by MLS Grid
• 2026-04-06 Sold (Public Records) $200,000 Public Records
• 2026-04-03 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-03-02 Pending — MRED as Distributed by MLS Grid
• 2026-01-14 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-16 Listed — RMLSA as Distributed by MLS Grid
• 2025-09-17 Coming Soon — RMLSA as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $4,236 · +2.5% YoY. Source: county tax records.