Davenport Estates MHC 4105 Nobis Dr 18 Unit Mobile Home Park $1,059,270 CAD ($58,848 CAD/Unit) 8.74% Cap Rate Davenport, IA 52802

Davenport Estates MHP is an 17-pad manufactured housing community situated n 4.21 acres in Davenport, Iowa, within the Quad Cities MSA. Originally constructed in 1961, the property offers a well-located, stable asset with a mix of income streams and operational upside. In addition to the 17 pads, the property includes a 3-bedroom, 2-bath single-family residence totaling 1,696 square feet, seven garages, five larger storage units, and one smaller storage unit. The park is currently zoned I-2, providing flexibility for continued use and potential alternative considerations.
The community benefits from its positioning within the Quad Cities market, offering access to a diverse employment base and regional infrastructure. A very small portion of the northeast section of the property lies within a flood zone; however, this area does not impact any structures, and current ownership does not carry flood insurance. Pad sizes are believed to be approximately 14’ x 60’, and all vacant pads are capable of accepting additional homes. The park features primarily gravel roads, which are reported by ownership to be in good condition and are maintained by the park.
Davenport Estates is serviced by city water and a private sewer system. Underground piping is believed to be PVC, and electrical pedestals are 100 amp. Tenants are directly billed for water, electric, and gas through their respective providers, while the park currently covers garbage service. The property offers off-street parking for residents and includes on-site management, with a manager/maintenance employee who also handles mowing and landscaping of common areas and vacant pads. Tenants are responsible for mowing their individual lots, while ownership handles snow removal and road maintenance.
The park currently has 14 occupied pads, all of which are tenant owned homes (TOH) or rent-to-own (RTO) units. One RTO unit is paying $950 per month. The average pad rent is approximately $375 per month, with two tenants currently paying $450 per month. The last rent increase occurred in April 2024. The single-family residence is leased for $1,250 per month. Lease structures include annual leases for the RTO units and the single-family residence, while TOH tenants operate on month-to-month agreements. One tenant is currently delinquent by approximately four months. No homes are held for back taxes.
The current ownership has operated the property for approximately 3.5 years and has implemented several improvements, including renovation of the single-family residence and conversion of Lot #4 into an RTO unit. The park benefits from on-site management, contributing to consistent maintenance and oversight. Operational responsibilities such as road upkeep, snow removal, and common area maintenance are handled by the park, supporting overall property condition and tenant experience.
Davenport Estates presents a clear path for additional value creation. Ownership has identified the opportunity to remove two trailers currently in poor condition and replace them with new homes on available pads. Additional upside exists through continued rent adjustments toward market rates and potential expansion of RTO inventory. Further tree work and general site improvements could enhance overall appeal and long-term performance. The garages and storage units also offer tremendous growth potential.
The property is being offered as a stabilized yet value-add investment opportunity within a growing Midwest market. The existing mortgage is not assumable, and the sellers are not open to providing seller financing. Davenport Estates provides investors with a combination of in-place cash flow, operational stability, and tangible upside through infill and rent optimization.
MR. LANDMAN, LLC is a licensed real estate entity in the State of Iowa under Lic#F06199000. Jonathan Fisher is a licensed broker in the State of Iowa under Lic#B68919000.
Location
Davenport is a city in Scott County, Iowa, and the county seat. The population was 101,724 at the 2020 census, and was estimated at 100,938 in 2024, making it the third-most populous city in Iowa, after Des Moines and Cedar Rapids. It is situated along the Mississippi River on the eastern border of the state. Together with Bettendorf, Iowa; Rock Island, Illinois; Moline, Illinois; and East
Moline, Illinois, Davenport is one of the five Quad Cities in Iowa and Illinois. It is the largest city in the Quad Cities area, which has a metropolitan area population of 384,324 and a Combined statistical area population of 474,019 in the 2020 census.
The median home cost in Davenport is $165,200. Home appreciation the last 10 years has been 45.6%. Home Appreciation in Davenport is up 6.5%.
Renters make up 35.3% of the Davenport population.
3.7% of houses and apartments in Davenport, are available to rent.
The average 1-bedroom unit rents for $730/month.
The average 2-bedroom unit rents for $900/month.
The average 3-bedroom unit rents for $1,180/month.
The average 4-bedroom unit rents for $1,340/month.
Davenport has an unemployment rate of 5.0%. The US average is 4.3%.
Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
The average income of a Davenport resident is $32,431 a year. The US average is $37,638 a year.
The Median household income of a Davenport resident is $56,315 a year. The US average is $69,021 a year.
Davenport violent crime is 35.8. (The US average is 22.7)
Davenport property crime is 63.3. (The US average is 35.4)
Scott County is a county located in the U.S. state of Iowa. As of the 2020 census, the population was 174,669, and was estimated to be 175,259 in 2025, making it the third-most populous county in Iowa. The county seat the largest city is Davenport. Scott County is included in the Davenport–Moline-Rock Island, IA–IL Metropolitan Statistical Area.
The Quad Cities is a region of five cities in the U.S. states of Iowa and Illinois: Davenport and Bettendorf in southeastern Iowa, and Rock Island, Moline, and East Moline in northwestern Illinois. These cities are the center of the Quad Cities metropolitan area, a region within the Mississippi River Valley, which as of 2023, had a population estimate of 467,817 and a Combined Statistical Area (CSA) population of 474,019, making it the 90th-largest CSA in the nation.
Here are the ten largest employers in the Davenport/Quad Cities Metro:
• John Deere (7,500 employees) Agricultural manufacturing
• Rock Island Arsenal (6,300 employees) Defense manufacturing
• UnityPoint Health (6,100 employees) Healthcare
• MercyOne Genesis (4,700 employees) Healthcare
• Hy-Vee (4,200 employees) Grocery / retail
• Walmart (3,600 employees) Grocery/ retail
• Allsteel (3,200 employees) Office furniture manufacturing
• Arconic (2,550 employees) Aerospace aluminum manufacturing
• Tyson Fresh Meats (2,400 employees) Food manufacturing
• Amazon (1,500 employees) Warehouse & logistics