Building Details

Building Size 1,341 SF

Year Built 2006

Listing Agency: KW 1Advantage

Listed By: Lisa DeLoose · License #475 Show Phone

Source: Kw

Added: Aug 26, 2025 Changed: Oct 8 Last Checked: Oct 12 at 6:54PM

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Investment Insights

Based on property information with market context.

This first-floor condo features an open floor plan with a kitchen equipped with cherry cabinets and appliances. The great room has 9-foot ceilings with crown molding. The living room includes a fireplace, and the dining room provides access to a private covered and gated patio via sliding glass doors. The property includes two large bedrooms and two full bathrooms, along with a separate laundry room. The master bedroom features a door to an additional private covered and gated patio, two closets, and a master bathroom. A parking garage is located under the building, offering a private storage area and elevator access to the floor. The unit has been repainted throughout and features newer carpet in the living room and dining room. It is located in Davenport, IL.

Key Highlights

• First‑floor condo with elevator access from the parking garage
• Private, covered, and gated patio accessible from both the dining room and master bedroom
• Open floor plan featuring a gorgeous kitchen with cherry cabinets and included appliances

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,783

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,660 $215.7K

Cap Rate 7%

$154,043 $154.0K

Cap Rate 9%

$119,811 $119.8K

Market Conditions

NOI Build-Up for 1,341 SF

Gross rent

$21.1K $15.72/SF

− Vacancy

−$1.5K −$1.10/SF

EGI

$19.6K $14.62/SF

− OpEx

−$8.8K −$6.58/SF

NOI

$10.8K $8.04/SF

Area

Davenport, IA

Vacancy

7.00%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,660

Cap Rate 7%

$154,043

Cap Rate 9%

$119,811

Alternative Uses

Best Use

Apartment 5plus

$154.0K

$134.8K – $179.7K (±1% cap)

NOI $10,783 @ 7.0% cap · market cap 4.88%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$289.4K

$253.3K – $337.7K (±1% cap)

NOI $20,260 @ 7.0% cap · market cap 9.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartments Apartment Building

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Big Box & Wholesale Store HVAC Service Kitchen & Bath Showroom Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

807

Businesses Nearby

Explore this area Business Placement

Demographics for 52807, IA

15,851

Population

8,136

Households

1.9

Avg Household Size

40

Median Age

43%

College-Educated

94%

High-School Grad

28.6 sq mi

ZIP Area

554

Density / Sq Mi

$71,866

Median Household Income

$44,203

Median Earnings

$910

Median Rent

$323,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - First-floor condo with open floor plan, modern kitchen, and patios.

Where is this apartment building located?

The property is located at 3415 EASTERN Avenue ##102 Davenport, IA.

What is the asking price?

The asking price for this property is $221,000.

What are key features of this property?

This property features: First‑floor condo with elevator access from the parking garage; Private, covered, and gated patio accessible from both the dining room and master bedroom; Open floor plan featuring a gorgeous kitchen with cherry cabinets and included appliances