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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Office buildings
311 3rd St Davenport, IA 52801-1229
Entity Owned
~
Est. High Equity
Property ID
US25-2557590
Property summary
AI-generated overview
Exceptional value-add opportunity in Davenport, Illinois, presents a 24-unit multifamily property with two ground-floor commercial spaces. This Class C building, situated on a 11,540 square foot lot at 311 W 3RD Street (APN L0006-27), boasts a total of 27,694 square feet across four stories. Constructed in 1910 and significantly renovated in 2022, 2023, and 2024, the property offers a mix of six studio and eighteen one-bedroom apartments. The building currently enjoys an 87% occupancy rate, generating a substantial Net Operating Income (NOI) of $174,093, resulting in an attractive 9.70% capitalization rate. The asking price is $1,795,000. On-site laundry facilities cater to residents, while six parking spaces are available for the commercial units, supplemented by ample on-street parking. Tenants are responsible for their gas and electric utilities. The property is zoned C-D and is owned by an LLC. This is a for-sale-by-owner opportunity. Don't miss this chance to acquire a strong-performing multifamily asset with significant upside potential in a thriving downtown location.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1910
Total area
27,694 SF
Lot
0.26 ac (11,450 SF)
APN
L0006-27
UPID
US25-2557590
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Dorothea Apartments Apartment Building
-
Quad City Solar Solar Energy Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$875k
Blend (final)
Blend
$940k
Owner & transaction history
Chief Holdings LLC
Chief Holdings LLC
since 2026
Last sale
$999,500
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Davenport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Davenport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$895,000
ML approach
$1,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $1,000k (May 4 2022)
Last sale anchor
$1,000k
May 4 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$34 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$20,268
Tax year 2023
Assessed value
$998,370
Assessed 2024
Previous assessed
$827,730
+20.6% YoY
Effective rate
2.03%
On assessed value
Assessed land
$171,750
Assessed improvement
$826,620
Land market value
$171,750
Improvement market value
$826,620
Total market value
$998,370
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1910
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Total area
27,694 SF
Lot
0.26 ac (11,450 SF)
APN
L0006-27
UPID
US25-2557590
Jurisdiction
SCOTT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1910
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
0.26 ac
Current owner
From public records · entity-resolved
Chief Holdings LLC
Entity
Mailing address
PO BOX 611, BETTENDORF, IA 52722-0011
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2026
—
Chief Holdings LLC
Blackhawk Bank & Trust
Quitclaim Deed
—
Mar 30, 2026
—
Blackhawk Bank & Trust
Dorothea LLC
Quitclaim Deed
related
—
May 4, 2022
$999,500
Dorothea LLC
Tlm Properties LLC
Warranty Deed
$1,306,113 · Dubuque Bank & Trust Co
Sep 15, 2006
—
Tlm Properties L L C
American Bank And Trust Co
Re-recorded Document
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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