3215 E Locust St APT 74DavenportIA52803
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 3215 E Locust St APT 74, Davenport, IA, 52803 in Davenport achieves 1.82, rent of $1,781/mo covers the $980/mo payment 1.5x over at $218,000. Rental yield 9.8%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $60,229 over five years, with $2,008/yr in principal reduction bringing total projected return to $82,518.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 7.8% |
| Monthly Cash Flow | $(35) | $450 |
City averages based on Davenport market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,781 |
| Total Monthly Debt Service | $1,729 |
| DSCR Ratio | 1.03x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1969
N/A lot
$N/A/sqft
$400 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52803, Davenport, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,710 (100%) |
| Owner Occupied HU | 5,364 (50.1%) |
| Renter Occupied HU | 3,944 (36.8%) |
| Vacant Housing Units | 1,402 (13.1%) |
| Median Home Value | $168,301 |
| Average Home Value | $239,310 |
Housing Distribution
Address Breakdown
Residential
9,455
Single Family
8,525
Multi-Family
930
Businesses
422
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1969
N/A lot
$N/A/sqft
$400 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52803, Davenport, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,710 (100%) |
| Owner Occupied HU | 5,364 (50.1%) |
| Renter Occupied HU | 3,944 (36.8%) |
| Vacant Housing Units | 1,402 (13.1%) |
| Median Home Value | $168,301 |
| Average Home Value | $239,310 |
Housing Distribution
Address Breakdown
Residential
9,455
Single Family
8,525
Multi-Family
930
Businesses
422
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices