Quad Cities rentals are affordable enough that serious investors end up with a lot of them, and a lot of small loans. A blanket loan folds five or more Davenport-area rentals into one note, one closing and one monthly payment.
In short: LendingStreet offers blanket portfolio loans for investors who own five or more rentals, each with 1 to 8 units, in Davenport, Bettendorf and the rest of Scott County. The loan qualifies on the combined cash flow of the portfolio rather than your personal income, uses one closing and one payment, and includes release provisions so you can sell a single house without refinancing the rest. It is a practical fit for a market where individual home prices often sit near or below our $150,000 per-loan minimum.
Many Davenport single-family rentals and older duplexes trade at prices where a single DSCR loan barely clears the $150,000 minimum, or does not clear it at all. Investors who buy steadily often end up with a patchwork of local bank loans, seller financing and cash purchases, each with a different maturity date.
Rolling those into a blanket loan replaces the patchwork with one 30-year option, one escrow and one renewal-free structure. It also lets lower-priced homes count, because the loan is sized on the whole portfolio rather than on each address standing alone.
Investors here tend to cluster in a few areas where rents and prices line up. On the west and central side, the Hamburg Historic District, the Gold Coast and the West End have older two-story homes and converted duplexes. Vander Veer Park and McClellan Heights on the east side draw longer-tenured tenants who want older homes near parks. Northwest Davenport and the streets around Kimberly Road have 1960s and 1970s ranches that are easy to maintain.
Bettendorf and Eldridge usually carry higher prices and lower turnover, which steadies a portfolio's overall ratio. Student-oriented rentals near Palmer College and St. Ambrose turn over every year but can add cash flow.
| Area | Typical rental stock | What it adds to a portfolio |
|---|---|---|
| Hamburg, Gold Coast, West End | Older two-story homes, converted duplexes | Higher rent per dollar invested; more repairs |
| Vander Veer, McClellan Heights | Pre-war homes near parks | Stable tenants; older systems |
| Northwest Davenport | Mid-century ranches | Lower maintenance; steady family demand |
| Near Palmer and St. Ambrose | Older houses rented by the room or unit | Annual turnover; strong demand each fall |
| Bettendorf, Eldridge | Newer ranches and split-levels | Higher values; steadies portfolio DSCR |
A blanket loan adds the rent from every property and compares it with the total payment: principal, interest, taxes, insurance and any HOA dues across the whole portfolio. One weak house does not sink the file if the rest carry it. That matters in Davenport, where a home with a high tax bill or a vacancy can sit next to three homes that cash flow comfortably.
Each property still gets valued, and the loan amount is limited by the combined value and the combined cash flow. Max LTV varies by program and can be lower on larger balances.
This example is illustrative and not a quote. An investor owns six rentals with a combined value of $1,260,000 and combined rent of $10,150 a month. At 75% of combined value, the blanket loan is $945,000.
Estimated principal and interest on a 30-year term is about $6,447 a month. Property taxes across the six properties total about $1,720 a month and landlord insurance about $690, for a total payment near $8,857. The portfolio DSCR is about 1.15x, above 1.0x even though the Hamburg duplex and Vander Veer bungalow would be small loans on their own.
| Property | Value | Monthly rent | Monthly taxes |
|---|---|---|---|
| Northwest Davenport ranch | $175,000 | $1,450 | $225 |
| Vander Veer area bungalow | $160,000 | $1,350 | $215 |
| McClellan Heights two-story | $215,000 | $1,700 | $290 |
| Hamburg district duplex | $230,000 | $2,000 | $330 |
| Bettendorf split-level | $255,000 | $1,900 | $350 |
| Eldridge ranch | $225,000 | $1,750 | $310 |
| Portfolio total | $1,260,000 | $10,150 | $1,720 |
A release provision lets you sell or refinance one property out of the blanket. You pay down the loan by a set release amount, often a percentage of that property's allocated loan balance, and the lien comes off that address. For example, if a house carries a $160,000 allocation and the release price is 120% of allocation, you would pay down about $192,000 at the sale.
Release terms differ by program, and the remaining portfolio usually has to keep meeting the ratio and leverage limits after the release. Ask for the release schedule in writing before you close.
Scott County assessors revalue in odd-numbered years, and a revaluation can move several of your tax bills at once. Iowa's residential rollback changes each year and affects how much of each assessment is taxed. Plan for the next revaluation when you size the loan, not just the current bills.
Homes near the Mississippi and along Duck Creek can sit in flood zones. Each one needs the right coverage, and flood premiums count in the portfolio payment. Davenport also registers and inspects rental property, so have current rental permits for every Davenport address in the file.
Separate loans make sense when you plan to sell properties on different timelines and want no cross-ties between them. A blanket loan makes sense when you plan to hold, want one payment, and have some homes too small to finance individually. Some investors do both: a blanket for the long-term core and individual loans for homes they may sell.
Send a rent roll with addresses, current rents, lease end dates, tax bills, insurance and any existing loan balances. Use the form below or call (877) 298-1001. We will run the portfolio ratio, flag any properties that drag it down and show options with and without them.
Five or more investment properties, each with 1 to 8 units. They can be single-family homes, duplexes or small buildings in Davenport, Bettendorf and nearby towns.
Yes. The $150,000 minimum applies to the loan, not to each property. Lower-priced Quad Cities homes can be part of a portfolio that together supports a larger loan.
On some programs, properties in more than one state can be combined. Moline and Rock Island are in Illinois, so ask whether your program allows a multi-state portfolio.
You pay a release amount set in the loan documents, the lien comes off that house and the rest of the loan stays in place. The remaining portfolio usually needs to keep meeting the program limits.
It lowers the combined rent, but a blanket loan is qualified on the portfolio as a whole. Strong properties can carry a weaker one.
Yes. Cash-out goes up to 75% LTV on DSCR programs, and leverage can be lower on larger balances. Seasoning varies by program.
No. The loan qualifies on the portfolio cash flow, with a 620 minimum credit score and LLC borrowers standard.
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