Company Description
This property is an occupied single family home located in a suburban neighborhood of Davenport, Iowa in the Quad Cities.
The tenant is currently on a month-to-month lease paying $895/month with a $895 security deposit. They have lived in the property since 02/01/2020.
Refer to the 'Documents' tab above to view the following information plus more:
Purchase Agreement
Inspection report
Inspection report repairs
HouseCanary Evaluation
Rent roll
Lease Agreement
Sales price history
Our A.I. does not have enough data for this property to make an accurate forecast of the future appreciation. Because of this, we are not projecting that this property will rapidly appreciate. The projected appreciation of 4% is determined by taking the average of HouseCanary's 3 year appreciation projection for the zip code.
The LLC documents will be uploaded to the 'Documents' tab once the property is fully funded and closed.
Updates:
Update 9/1/2022: The Property Manager received a work order for the AC at the property. A vendor serviced the unit and identified that the compressor is having issues. They are not able to replace the compressor as the part is now obsolete. The condensing unit will have to be replaced for this property. The cost to replace the unit is $3,200. The seller provided a repair credit of $2,160 at closing, which will be applied towards the cost of the repair. $1,040 will be deducted from the Maintenance Reserve which will be replenished via 10% of the property's cash flow until it is full again.
