539 W 29th Sts · Davenport, IA 50803

$244,000

3 bd · 3.0 ba · 2,330 sqft · MultiFamily public records · 107 Days on market

Built 1946 5,900 sqft lot Est $211k · 16% over

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Why this score? — see what drove the D 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 +15.0/30.0
• Appreciation +5.0/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0

Multi-family units

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

Listing remarks MLS

This Alcoa Duplex is now available. There are many updates too numerous to list. But here are a few, from 2019 to 21, Flooring Interior and exterior painting, Lighting and insulation, Roof. Back yard is great for entertaining and cooking out. Basement has been water proofed and radon mitgation system.

Key facts

• Back yard
• Basement
• 5,900 sq ft lot

Tags

• INTERIOR AND EXTERIOR PAINTING
• BACK YARD
• BASEMENT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $244k.

Deal economics

• At list price, monthly cash flow is $75 ($897/yr) — positive. Per door: $37/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (11.1% below list).
• Recommended offer: $217k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: 3 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $68k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago 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 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $217,000 (11.1% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 11% 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 1946 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $210,840
• List price: $244,000
• Delta: 15.73%
• Verdict: OVERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 W Hayes St Unit 320, 320 1/2, 320 1/3	0.21mi	2/3.0 (-1)	2,334 (+0%)	7mo	$200,000	$86	79

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.50×
• Total profit: $34,158
• Equity at exit: $109,713

10-year hold

• IRR: 11.2%
• Equity multiple: 2.68×
• Total profit: $114,970
• Equity at exit: $169,081

Cash invested: $68,320 (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 50803

• Active inventory: 3
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $2,170 high
• Mortgage (P&I): −$1,280
• Tax from tax record: −$258 /mo · $3,100/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $75

Break-even live

Break-even rent $2,075

Max offer price $244,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,170
Total (2 units)			$2,170

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: $61,000
• Closing costs: $7,320
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1511 N Ripley St Davenport, IA	4.0	2.0	1872	$1,450	$0.77	21d	1	0.94mi
621 W 15th St Davenport, IA	4.0	2.0	1833	$1,500	$0.82	13d	1	0.98mi
1323 N Gaines St Davenport, IA	4.0	2.0	1733	$1,350	$0.78	21d	1	1.06mi
119 E 13th St Davenport, IA	3.0	1.0	1728	$1,495	$0.87	43d	1	1.18mi
1723 W Locust St Davenport, IA	3.0	1.0	1690	$1,395	$0.83	43d	1	1.33mi

Listing history 31 events

1. 2026-06-18
   days on market $244,000 Active 107 DOM
2. 2026-06-17
   days on market $244,000 Active 106 DOM
3. 2026-06-16
   days on market $244,000 Active 105 DOM
4. 2026-06-15
   days on market $244,000 Active 104 DOM
5. 2026-06-14
   days on market $244,000 Active 102 DOM
6. 2026-06-13
   days on market $244,000 Active 101 DOM
7. 2026-06-10
   days on market $244,000 Active 99 DOM
8. 2026-06-09
   days on market $244,000 Active 98 DOM
9. 2026-06-08
   days on market $244,000 Active 97 DOM
10. 2026-06-07
    days on market $244,000 Active 96 DOM
11. 2026-06-03
    days on market $244,000 Active 92 DOM
12. 2026-06-02
    days on market $244,000 Active 91 DOM
13. 2026-06-01
    days on market $244,000 Active 90 DOM
14. 2026-05-31
    days on market $244,000 Active 89 DOM
15. 2026-05-30
    days on market $244,000 Active 88 DOM
16. 2026-03-09
    price $244,000 306-char remark

    Show marketing remark (306 chars)

    This Alcoa Duplex is now available. There are many updates too numerous to list. But here are a few, from 2019 to 21, Flooring Interior and exterior painting, Lighting and insulation, Roof. Back yard is great for entertaining and cooking out. Basement has been water proofed and radon mitgation system.

17. 2026-03-07
    status Active 306-char remark

    Show marketing remark (306 chars)

    This Alcoa Duplex is now available. There are many updates too numerous to list. But here are a few, from 2019 to 21, Flooring Interior and exterior painting, Lighting and insulation, Roof. Back yard is great for entertaining and cooking out. Basement has been water proofed and radon mitgation system.

18. 2026-02-07
    status Pending 306-char remark

    Show marketing remark (306 chars)

    This Alcoa Duplex is now available. There are many updates too numerous to list. But here are a few, from 2019 to 21, Flooring Interior and exterior painting, Lighting and insulation, Roof. Back yard is great for entertaining and cooking out. Basement has been water proofed and radon mitgation system.

19. 2026-02-03
    listed $241,000 Active 306-char remark

    Show marketing remark (306 chars)

    This Alcoa Duplex is now available. There are many updates too numerous to list. But here are a few, from 2019 to 21, Flooring Interior and exterior painting, Lighting and insulation, Roof. Back yard is great for entertaining and cooking out. Basement has been water proofed and radon mitgation system.

20. 2024-09-17
    soldstatus $220,000
21. 2024-09-16
    soldstatus $220,000 1057-char remark

    Show marketing remark (1057 chars)

    Welcome to this beautifully updated duplex located in a quiet residential neighborhood near Assumption. This property offers an exceptional investment opportunity, with both units currently rented on Furnished Finders. The duplex features two distinct living spaces: one unit with 2 bedrooms, 1 bath, and a spacious basement, and the other with 1 bedroom, 1 bath, and a basement as well. Both units boast private entrances, modern finishes, and come fully equipped with all appliances, including a washer and dryer. This versatile property is perfect for investors or owner-occupants looking to generate rental income. Don't miss this chance to own a turnkey duplex in a prime location! Almost everything has been updated, plumbing, electrical, floors, basement, doors, windows, a/c! I have attached a sheet listing all of the improvements. All appliances except for the refrigerator on the 2 bedroom side are included in the price. Most of the furniture is available for an additional cost if a new owner would like to keep it and offer furnished rentals.

22. 2024-09-16
    soldstatus $220,000 Closed 1057-char remark

    Show marketing remark (1057 chars)

    Welcome to this beautifully updated duplex located in a quiet residential neighborhood near Assumption. This property offers an exceptional investment opportunity, with both units currently rented on Furnished Finders. The duplex features two distinct living spaces: one unit with 2 bedrooms, 1 bath, and a spacious basement, and the other with 1 bedroom, 1 bath, and a basement as well. Both units boast private entrances, modern finishes, and come fully equipped with all appliances, including a washer and dryer. This versatile property is perfect for investors or owner-occupants looking to generate rental income. Don't miss this chance to own a turnkey duplex in a prime location! Almost everything has been updated, plumbing, electrical, floors, basement, doors, windows, a/c! I have attached a sheet listing all of the improvements. All appliances except for the refrigerator on the 2 bedroom side are included in the price. Most of the furniture is available for an additional cost if a new owner would like to keep it and offer furnished rentals.

23. 2024-09-03
    status Pending 1057-char remark

    Show marketing remark (1057 chars)

    Welcome to this beautifully updated duplex located in a quiet residential neighborhood near Assumption. This property offers an exceptional investment opportunity, with both units currently rented on Furnished Finders. The duplex features two distinct living spaces: one unit with 2 bedrooms, 1 bath, and a spacious basement, and the other with 1 bedroom, 1 bath, and a basement as well. Both units boast private entrances, modern finishes, and come fully equipped with all appliances, including a washer and dryer. This versatile property is perfect for investors or owner-occupants looking to generate rental income. Don't miss this chance to own a turnkey duplex in a prime location! Almost everything has been updated, plumbing, electrical, floors, basement, doors, windows, a/c! I have attached a sheet listing all of the improvements. All appliances except for the refrigerator on the 2 bedroom side are included in the price. Most of the furniture is available for an additional cost if a new owner would like to keep it and offer furnished rentals.

24. 2024-08-26
    listed $225,000 1057-char remark

    Show marketing remark (1057 chars)

    Welcome to this beautifully updated duplex located in a quiet residential neighborhood near Assumption. This property offers an exceptional investment opportunity, with both units currently rented on Furnished Finders. The duplex features two distinct living spaces: one unit with 2 bedrooms, 1 bath, and a spacious basement, and the other with 1 bedroom, 1 bath, and a basement as well. Both units boast private entrances, modern finishes, and come fully equipped with all appliances, including a washer and dryer. This versatile property is perfect for investors or owner-occupants looking to generate rental income. Don't miss this chance to own a turnkey duplex in a prime location! Almost everything has been updated, plumbing, electrical, floors, basement, doors, windows, a/c! I have attached a sheet listing all of the improvements. All appliances except for the refrigerator on the 2 bedroom side are included in the price. Most of the furniture is available for an additional cost if a new owner would like to keep it and offer furnished rentals.

25. 2024-08-26
    listed $225,000 Active 1057-char remark

    Show marketing remark (1057 chars)

    Welcome to this beautifully updated duplex located in a quiet residential neighborhood near Assumption. This property offers an exceptional investment opportunity, with both units currently rented on Furnished Finders. The duplex features two distinct living spaces: one unit with 2 bedrooms, 1 bath, and a spacious basement, and the other with 1 bedroom, 1 bath, and a basement as well. Both units boast private entrances, modern finishes, and come fully equipped with all appliances, including a washer and dryer. This versatile property is perfect for investors or owner-occupants looking to generate rental income. Don't miss this chance to own a turnkey duplex in a prime location! Almost everything has been updated, plumbing, electrical, floors, basement, doors, windows, a/c! I have attached a sheet listing all of the improvements. All appliances except for the refrigerator on the 2 bedroom side are included in the price. Most of the furniture is available for an additional cost if a new owner would like to keep it and offer furnished rentals.

26. 2021-08-16
    soldstatus $175,000
27. 2021-08-12
    soldstatus $175,000
28. 2021-08-12
    soldstatus $175,000
29. 2021-05-13
    listed $179,900
30. 2021-05-13
    listed $179,900
31. 2004-08-24
    soldstatus $117,500

ⓘ 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: $3,100 · $258/mo
• Projected year-2 tax: $3,465 · $289/mo
• Expected delta: +$365/yr (+$30/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $26,040
• − Mortgage interest: −$13,668
• − Property taxes: −$3,100
• − Insurance: −$1,220
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$7,098
• Taxable loss: −$3,212
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $1,668/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+107.7% since first listed

16 events — show timeline

• 2026-03-09 Price Changed $244,000 MRED as Distributed by MLS Grid
• 2026-03-07 Relisted — MRED as Distributed by MLS Grid
• 2026-02-07 Pending — MRED as Distributed by MLS Grid
• 2026-02-03 Listed $241,000 MRED as Distributed by MLS Grid
• 2024-09-17 Sold (Public Records) $220,000 Public Records
• 2024-09-16 Sold (MLS) $220,000 RMLSA as Distributed by MLS Grid
• 2024-09-16 Sold (MLS) $220,000 MRED as Distributed by MLS Grid
• 2024-09-03 Pending — RMLSA as Distributed by MLS Grid
• 2024-08-26 Listed $225,000 RMLSA as Distributed by MLS Grid
• 2024-08-26 Listed $225,000 MRED as Distributed by MLS Grid
• 2021-08-16 Sold (Public Records) $175,000 Public Records
• 2021-08-12 Sold (MLS) $175,000 RMLSA as Distributed by MLS Grid
• 2021-08-12 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2021-05-13 Listed $179,900 RMLSA as Distributed by MLS Grid
• 2021-05-13 Listed $179,900 MRED as Distributed by MLS Grid
• 2004-08-24 Sold (Public Records) $117,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,100 · +2.5% YoY. Source: county tax records.