1520 Parmele St · Rockford, IL 61104

$115,000

4 bd · 2.0 ba · 2,592 sqft · SingleFamily · 314 Days on market

Built 1915 6,098 sqft lot $44/sqft · at area comps Est $117k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +8.4/15.0
• Rent growth +4.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

Key facts

• Covered front porch
• Natural woodwork
• Brick bungalow

Tags

• BRICK BUNGALOW
• COVERED FRONT PORCH
• HARDWOOD FLOORS
• NATURAL WOODWORK
• FULLY FINISHED UPPER LEVEL
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 6.1% in Rockford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#876 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Rockford SD 205 (urban): math 12% / reading 16% proficiency, ranked #533 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 67 active listings in the ZIP; lower-income renter base — watch delinquency; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $1,569/mo this rent would consume 56% of the median local household income ($34k/yr) (locally 1406% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Winnebago County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 314 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask is 35% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $16k; list at $115k implies a 619% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 314 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.25%
• DSCR: 1.86
• GRM: 6.1

CMA / ARV

• ARV (median comp): $117,317
• List price: $115,000
• Delta: -1.98%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1310 5th Ave	0.71mi	4/1.5	2,553 (-2%)	13mo	$192,000	$75	52
1008 16th St	0.60mi	3/2.5 (-1)	2,684 (+4%)	10mo	$160,000	$60	51
1217 9th Ave	0.44mi	5/2.0 (+1)	2,464 (-5%)	22mo	$106,000	$43	48
2004 17th Ave	0.47mi	5/2.0 (+1)	2,352 (-9%)	13mo	$135,000	$57	47
2310 Broadway	0.73mi	4/2.0	2,303 (-11%)	4mo	$175,000	$76	44
1331 19th St	0.70mi	3/1.5 (-1)	2,235 (-14%)	14mo	$196,000	$88	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.70×
• Total profit: $22,531
• Equity at exit: $17,147

10-year hold

• IRR: 28.2%
• Equity multiple: 4.09×
• Total profit: $99,626
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 61104

• Home prices YoY: -21.4%
• Rents YoY: 9.7%
• Active inventory: 67
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,569 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $517

Break-even live

Break-even rent $915

Max offer price $115,000

Occupancy floor 62%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $115,000 Active 314 DOM
2. 2026-06-18
   days on market $115,000 Active 313 DOM
3. 2026-06-17
   days on market $115,000 Active 312 DOM
4. 2026-06-16
   days on market $115,000 Active 311 DOM
5. 2026-06-15
   days on market $115,000 Active 310 DOM
6. 2026-06-14
   days on market $115,000 Active 308 DOM
7. 2026-06-13
   days on market $115,000 Active 307 DOM
8. 2026-06-10
   days on market $115,000 Active 305 DOM
9. 2026-06-09
   days on market $115,000 Active 304 DOM
10. 2026-06-08
    days on market $115,000 Active 303 DOM
11. 2026-06-07
    days on market $115,000 Active 302 DOM
12. 2026-06-03
    days on market $115,000 Active 298 DOM
13. 2026-06-02
    days on market $115,000 Active 297 DOM
14. 2026-06-01
    days on market $115,000 Active 296 DOM
15. 2026-05-31
    days on market $115,000 Active 295 DOM
16. 2026-05-30
    days on market $115,000 Active 294 DOM
17. 2025-12-01
    price $115,000 781-char remark

    Show marketing remark (781 chars)

    Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

18. 2025-10-30
    status Active 781-char remark

    Show marketing remark (781 chars)

    Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

19. 2025-10-30
    price $120,000 781-char remark

    Show marketing remark (781 chars)

    Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

20. 2025-09-24
    historical 781-char remark

    Show marketing remark (781 chars)

    Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

21. 2025-07-03
    listed $85,000 Active 781-char remark

    Show marketing remark (781 chars)

    Recently updated, all brick bungalow offering 2592 SF of living space. Enjoy the welcoming, covered front porch and a spacious interior featuring a living room that flows seamlessly into the dining room, both showcasing hardwood floors and natural woodwork. The main level includes three bedrooms and a full bath, while the finished upper level provides an additional bedroom and versatile living space. Recent updates to the kitchen include new countertops and new LVP flooring. Hardwood floors have been refinished on the main level. House interior has been recently painted. New epoxy flooring in the basement. Full basement adds storage and an additional bathroom. Outside, you'll find off street parking, a garden shed, and a fully fenced yard - perfect for outdoor enjoyment.

22. 2017-03-03
    soldstatus $16,000 Closed Sale 350-char remark

    Show marketing remark (350 chars)

    All brick bungalow with 1728 sq ft of living space. Large, covered front porch; living room opens to the dining room, both with hardwood floors and natural woodwork. Three bedrooms and one full bath on the main floor; fully finished upper level. Full basement; off-street parking; garden shed in the fully fenced yard; central air. Cheaper than rent!

23. 2017-03-03
    soldstatus $16,000

    Show marketing remark (350 chars)

    All brick bungalow with 1728 sq ft of living space. Large, covered front porch; living room opens to the dining room, both with hardwood floors and natural woodwork. Three bedrooms and one full bath on the main floor; fully finished upper level. Full basement; off-street parking; garden shed in the fully fenced yard; central air. Cheaper than rent!

24. 2017-02-13
    status Pending 350-char remark

    Show marketing remark (350 chars)

    All brick bungalow with 1728 sq ft of living space. Large, covered front porch; living room opens to the dining room, both with hardwood floors and natural woodwork. Three bedrooms and one full bath on the main floor; fully finished upper level. Full basement; off-street parking; garden shed in the fully fenced yard; central air. Cheaper than rent!

25. 2017-01-25
    listed $19,900 New 350-char remark

    Show marketing remark (350 chars)

    All brick bungalow with 1728 sq ft of living space. Large, covered front porch; living room opens to the dining room, both with hardwood floors and natural woodwork. Three bedrooms and one full bath on the main floor; fully finished upper level. Full basement; off-street parking; garden shed in the fully fenced yard; central air. Cheaper than rent!

26. 2017-01-25
    listed $19,900

    Show marketing remark (350 chars)

    All brick bungalow with 1728 sq ft of living space. Large, covered front porch; living room opens to the dining room, both with hardwood floors and natural woodwork. Three bedrooms and one full bath on the main floor; fully finished upper level. Full basement; off-street parking; garden shed in the fully fenced yard; central air. Cheaper than rent!

27. 1999-11-04
    soldstatus $60,166
28. 1997-10-28
    soldstatus $49,000
29. 1997-10-28
    soldstatus $49,000
30. 1992-06-05
    soldstatus $36,000
31. 1992-06-05
    soldstatus $36,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $861 · $72/mo
• Projected year-2 tax: $1,736 · $145/mo
• Expected delta: +$875/yr (+$73/mo · 101.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,824
• − Mortgage interest: −$6,442
• − Property taxes: −$861
• − Insurance: −$575
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$3,345
• Taxable income: $4,589
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $5,097/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rockford SD 205
• NCES district ID: 1734510
• Math proficiency: 12% ▼ -2.00%
• Reading proficiency: 16% ▼ -3.00%
• Median HH income: $42,533
• Composite: 12.21/100
• National rank: #9649
• State rank: #533 of 620 in IL

Livability — Rockford

• Score: 62/100
• State rank: #876
• US rank: #17035

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockford, IL
• County: Winnebago County · 147,297 people
• City population: 147,297
• Metro: Rockford, IL
• Population (ZIP): 17,222
• Household income: $33,772
• Rent vs Own: 62.2% rent · 37.8% own
• Severe rent burden: 1406.0

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 271,080 people
• By 2030: 260,684 · -3.8%
• By 2040: 238,405 · -12.1%
• By 2050: 216,129 · -20.3%
• By 2075: 172,882 · -36.2%
• By 2100: 135,336 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 26% Black 25% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 16% · Canada, South Korea, Philippines
• Languages at home: 74% English-only · Spanish 18% Other Asian/Pacific 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Winnebago

• 2024 margin: Toss-up / Even · D 49.5% · R 49.0% · Other 1.5%
• 2008→2024 swing: -12.2pp toward R · 2008: 12.8pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.5 2016: R+1.2 2012: D+5.7 2008: D+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.40%
• Current HPI: 233.0219
• Rent YoY: ▲ 9.67%
• Metro: Rockford, IL
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+219.4% since first listed

15 events — show timeline

• 2025-12-01 Price Changed $115,000 NWIAR
• 2025-10-30 Relisted — NWIAR
• 2025-10-30 Price Changed $120,000 NWIAR
• 2025-09-24 Delisted — NWIAR
• 2025-07-03 Listed $85,000 NWIAR
• 2017-03-03 Sold (MLS) $16,000 MRED as Distributed by MLS Grid
• 2017-03-03 Sold (MLS) $16,000 NWIAR
• 2017-02-13 Pending — MRED as Distributed by MLS Grid
• 2017-01-25 Listed $19,900 MRED as Distributed by MLS Grid
• 2017-01-25 Listed $19,900 NWIAR
• 1999-11-04 Sold (Public Records) $60,166 Public Records
• 1997-10-28 Sold (Public Records) $49,000 Public Records
• 1997-10-28 Sold (Public Records) $49,000 Public Records
• 1992-06-05 Sold (Public Records) $36,000 Public Records
• 1992-06-05 Sold (Public Records) $36,000 Public Records

Property tax history

-5.3%/yr

Latest (2024): $861 · +3.5% YoY. Source: county tax records.