Davenport has some of the most interesting housing stock in Iowa: Victorian houses on the bluffs, brick homes near Vander Veer Park and solid postwar houses on the west and northwest sides. Much of it needs work, and the buyers who want it renovated include young families, medical and chiropractic students staying in town after Palmer, and employees crossing the river every day.
In short: LendingStreet funds fix and flip projects on 1-8 unit investment properties in Davenport and across Scott County from $150,000 to $5M+. On some programs we lend up to 90% of total cost and up to 100% of the rehab budget, and we can close in as little as 10 days. Loans are short-term and interest-only, with an exit by sale or refinance into a DSCR loan.
Most local flips fall into one of three groups, and each has a different risk profile.
Each type also sells to a different buyer. Restored historic homes attract buyers who value character and are willing to pay for it. Updated west and central Davenport houses often sell to first-time buyers watching their monthly payment. Suburban updates compete with new construction, so finishes and layout matter more.
| Flip type | Where | Main risks |
|---|---|---|
| Historic house restoration | Gold Coast, Hamburg, McClellan Heights, Vander Veer | Design review, plaster and trim costs, long timelines |
| Older city cosmetic and systems flip | West End, central Davenport, Hilltop | Resale ceiling, foundation and sewer issues |
| Suburban update | Northwest Davenport, Bettendorf, Eldridge | Higher purchase price, buyer expectations on finishes |
Davenport has several locally designated historic districts and many individually listed properties. In designated areas, exterior changes such as window replacement, siding, porches and additions can require review by the city's historic preservation commission before a permit is issued.
That review protects the neighborhood's character, and well-restored houses can sell well, but it adds time and can rule out the cheapest materials. If you are buying in the Gold Coast, Hamburg or McClellan Heights, confirm whether the house is in a district and what review applies before you set your budget.
The loan is based on the purchase price, the rehab budget and the after-repair value. Some programs cover up to 90% of total cost and up to 100% of the rehab, with rehab funds released in draws after work is inspected. Experienced flippers generally get the higher leverage.
You cover the remaining purchase price, closing costs and interest carry. Keep a contingency of 10% to 15%; older Davenport houses rarely reveal all their problems before demolition.
Write the scope of work so an inspector can verify each item. Specific lines such as 'replace roof with architectural shingles' or 'install 100-amp panel and rewire second floor' make draws faster than vague entries.
This example is illustrative and not a quote. An investor buys a three-bedroom two-story in central Davenport for $124,000. The $66,000 rehab covers a new roof, kitchen, bath, updated electrical panel and wiring, a high-efficiency furnace and refinished hardwood. Recent sales of similar renovated houses support an after-repair value of $245,000.
The loan covers 80% of the purchase ($99,200) plus the full rehab, for $165,200, about 87% of the $190,000 total cost. Seven months of interest carry runs about $10,118. Adding purchase closing costs of about $2,480, holding costs of about $1,680 and selling costs of about $17,150, the projected profit is about $23,572, with about $39,078 of the investor's cash in the deal.
| Item | Amount |
|---|---|
| Purchase price | $124,000 |
| Rehab budget | $66,000 |
| Total loan | $165,200 |
| Interest carry, 7 months | $10,118 |
| Closing and holding costs | $4,160 |
| Selling costs | $17,150 |
| After-repair value | $245,000 |
| Projected profit | About $23,572 |
Bluff-side lots can have retaining walls, steep driveways and drainage problems. Stone and brick foundations in the older districts may need tuckpointing or waterproofing. Clay sewer laterals, old galvanized plumbing and knob-and-tube wiring are common in houses built before the 1940s.
Lead paint is likely in anything built before 1978, and federal rules require certified contractors for work that disturbs painted surfaces. A sewer scope, a structural look at the foundation and an electrical evaluation are worth paying for before you close.
Budget time as carefully as money. Permit review, historic district approval and contractor availability in spring can stretch a four-month project to six or seven, and each extra month adds interest carry.
The City of Davenport issues building, electrical, plumbing and mechanical permits and inspects the work. Bettendorf has its own building department. Draws often follow inspection milestones, so a delayed city inspection can slow your next draw.
Buyers on the Iowa side often compare houses across Davenport and Bettendorf, and school districts matter. Price your finished house against renovated sales in the same area, not the metro average.
Seasonality helps flippers who plan for it. Buyer traffic in the Quad Cities peaks in spring and early summer, so many investors buy in fall, renovate through winter and list as the market picks up.
If resale prices soften or rents look stronger, you can refinance into a DSCR loan based on the rent. The house will need to meet the city's rental registration and inspection rules before a tenant moves in. Seasoning for cash-out varies by program, so plan that timing early.
To keep that option open, renovate to a standard that will pass the city's rental inspection: working smoke and carbon monoxide detectors, egress windows in bedrooms, safe stairs and railings, and code-compliant electrical. Doing it during the rehab is cheaper than going back later.
Run both numbers before you buy. If the resale profit is thin but the rent would comfortably clear 1.0x, holding may be the stronger plan.
Send the address, purchase price, scope of work and expected after-repair value. With a complete file we can close in as little as 10 days. Call (877) 298-1001 or use the form below to get a quote.
If you are new to flipping, tell us about any renovation experience you have, including work on your own rentals. It helps us match you with the right leverage.
Up to 90% of total cost and up to 100% of the rehab on some programs, depending on experience and the deal.
They affect your timeline and budget. Factor any required review into your schedule and scope.
In as little as 10 days with a complete file.
Yes. Fix and flip loans are short-term and interest-only.
$150,000. On a low-priced house, the rehab budget often brings the loan over the minimum.
Yes. We fund 1-8 unit investor rehabs throughout Scott County.
Yes. Many investors refinance into a DSCR loan once the property is leased.
Properties in Rock Island, Moline and East Moline follow Illinois rules; see our Illinois fix and flip page.
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