Investor's Dream in Northeast Davenport - 11% Cap Rate! This multi-family property features two 1-bedroom, 1-bathroom units, both currently occupied by long-term tenants who wish to stay-providing immediate cash flow from day one. Situated in desirable northeast Davenport, the property boasts a spacious parking lot, along with a 2-car detached garage, offering convenience and added value for tenants. With a strong 11% cap rate, this is a rare chance to secure a high-performing asset in a stable rental market. Whether you're a seasoned investor or just getting started, this property offers the perfect blend of low maintenance, solid returns, and reliable rental income. Don't miss out-start earning from day one!
Closed
$80,000
2202 E Locust St, Davenport, IA 52803
--beds
--baths
1,563sqft
Multi Family
Built in 1864
-- sqft lot
$121,300 Zestimate®
$51/sqft
$1,287 Estimated rent
Home value
$121,300
$86,000 - $163,000
$1,287/mo
Zestimate® history
Owner options
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$1,287/mo
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$1,287/mo
Rent Zestimate®
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$431/mo
Est. payment
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$431/mo
Est. payment
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Zillow last checked:
Listing updated:
Listing courtesy of:
Rachel Allen 563-484-1984,
KW 1Advantage
Bought with:
Grant McCaulley
eXp Realty
Source: MRED as distributed by MLS GRID,MLS#: QC4262447
Facts & features
Interior
Heating
- Natural Gas, Radiant
Cooling
- None
Interior area
- Total interior livable area: 1,563 sqft
Property
Parking
- Parking features: Other
Lot
- Size: 0.26 Acres
- Dimensions: 74x150
- Features: Level
Details
- Parcel number: D006236
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Aluminum Siding
Condition
- New construction: No
- Year built: 1864
Utilities & green energy
- Sewer: Public Sewer
Community & neighborhood
Location
- Region: Davenport
- Subdivision: Thomas
Other
Other facts
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 5/23/2025 | Sold | $80,000-20%$51/sqft |
Source:  MRED as distributed by MLS GRID #QC4262447 Report a problem | ||
| 4/25/2025 | Pending sale | $100,000$64/sqft |
Source:  RMLS Alliance as distributed by MLS GRID #QC4262447 Report a problem | ||
| 4/21/2025 | Listed for sale | $100,000$64/sqft |
Source: RMLS Alliance as distributed by MLS GRID #QC4262447 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,452 +2.5% | $86,550 +6.5% |
| 2024 | $1,416 +8.3% | $81,230 |
| 2023 | $1,308 -0.5% | $81,230 +32.6% |
| 2022 | $1,314 +1.7% | $61,250 |
| 2021 | $1,292 +2.2% | $61,250 +5.3% |
| 2020 | $1,264 -1.6% | $58,180 |
| 2019 | $1,285 -1.3% | $58,180 +1.6% |
| 2018 | $1,302 +3.5% | $57,260 |
| 2017 | $1,258 +0.3% | $57,260 |
| 2016 | $1,254 | $57,260 -26.3% |
| 2015 | $1,254 -27.3% | $77,700 |
| 2014 | $1,726 +1.8% | $77,700 |
| 2013 | $1,696 | -- |
| 2012 | $1,696 +31.5% | $71,550 -0.5% |
| 2009 | $1,290 +3.8% | $71,880 |
| 2008 | $1,243 +11.8% | $71,880 |
| 2003 | $1,112 +1.3% | -- |
| 2002 | $1,098 +3.6% | -- |
| 2001 | $1,060 | -- |
Find assessor info on the county website
Neighborhood: 52803
Nearby schools
GreatSchools rating
- 1/10Garfield Elementary SchoolGrades: K-5Distance: 1.2 mi
- 3/10Sudlow Intermediate SchoolGrades: 6-8Distance: 0.5 mi
- 2/10Central High SchoolGrades: 9-12Distance: 1.7 mi
Schools provided by the listing agent
- High: Davenport
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$121,300
2% more
+$2,426
With Zillow Showcase(estimated)
$123,726
- Iowa
- Scott County
- Davenport
- 52803
- 2202 E Locust St
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