423 Auburn St · Rockford, IL 61103

$100,000

5 bd · 3.0 ba · 1,478 sqft · SingleFamily · 27 Days on market

Built 1920 5,227 sqft lot $68/sqft · 38% below area Est $160k · 38% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

Key facts

• 5,227 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 (+8.1%/yr); 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.67% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.74%
• DSCR: 2.01
• GRM: 5.0

CMA / ARV

• ARV (median comp): $160,148
• List price: $100,000
• Delta: -37.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Logan St	0.33mi	4/1.0 (-1)	1,384 (-6%)	2mo	$158,000	$114	60
2124 Melrose St	0.45mi	4/2.0 (-1)	1,450 (-2%)	10mo	$216,000	$149	59
931 C St	0.70mi	4/1.0 (-1)	1,435 (-3%)	10mo	$170,000	$118	41
2317 Logan St	0.67mi	4/1.0 (-1)	1,512 (+2%)	18mo	$106,000	$70	37
330 King St	0.74mi	5/2.0	1,680 (+14%)	5mo	$90,000	$54	34

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: 21.6%
• Equity multiple: 1.95×
• Total profit: $26,489
• Equity at exit: $14,910

10-year hold

• IRR: 33.1%
• Equity multiple: 4.82×
• Total profit: $107,059
• Equity at exit: $8,646

Cash invested: $28,000 (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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 103
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$222 /mo · $2,661/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $531

Break-even live

Break-even rent $997

Max offer price $100,000

Occupancy floor 63%

Sensitivity live

Price	-10% $587	-5% $559	+0% $531	+5% $502	+10% $474
Rent	-10% $399	-5% $465	+0% $531	+5% $596	+10% $662
Rate	-1.0pp $581	-0.5pp $556	base $531	+0.5pp $505	+1.0pp $478

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 N Winnebago St Rockford, IL	4.0	1.0	1250	$1,600	$1.28	13d	1	1.46mi

Listing history 19 events

1. 2026-06-07
   status $100,000 Pending 27 DOM
2. 2026-06-03
   days on market $100,000 Active 27 DOM
3. 2026-06-02
   days on market $100,000 Active 26 DOM
4. 2026-06-01
   days on market $100,000 Active 25 DOM
5. 2026-05-31
   statusdays on market $100,000 Active 24 DOM
6. 2026-05-15
   status Pending 586-char remark

   Show marketing remark (586 chars)

   Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

7. 2026-05-14
   status Pending 598-char remark

   Show marketing remark (598 chars)

   Attention investors, homeowners, and landlords! Don’t miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you’ll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

8. 2026-05-01
   status Active 598-char remark

   Show marketing remark (586 chars)

   Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

9. 2026-05-01
   status Active 586-char remark

   Show marketing remark (586 chars)

   Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

10. 2026-03-30
    status Pending 598-char remark

    Show marketing remark (586 chars)

    Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

11. 2026-03-30
    status Pending 586-char remark

    Show marketing remark (586 chars)

    Attention investors, homeowners, and landlords! Don't miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you'll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

12. 2026-03-21
    listed $100,000 Active 586-char remark

    Show marketing remark (598 chars)

    Attention investors, homeowners, and landlords! Don’t miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you’ll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

13. 2026-03-21
    listed $100,000 Active 598-char remark

    Show marketing remark (598 chars)

    Attention investors, homeowners, and landlords! Don’t miss this opportunity to own a spacious 5-bedroom, 3-bathroom home with plenty of room and potential. The main floor features hardwood flooring throughout with a living room, separate dining room, kitchen, bonus room, 2 bedrooms, and a full bathroom. Upstairs you’ll find 3 more bedrooms and an additional full bathroom. The basement adds even more living space with a rec room and third full bathroom. Detached 1-car garage and fenced backyard. A great value-add opportunity for an owner-occupant or investor. Sold as-is, no FHA/VA

14. 2004-10-22
    soldstatus $92,000
15. 1995-08-21
    soldstatus $62,000
16. 1995-08-21
    soldstatus $62,000
17. 1992-04-24
    soldstatus $38,000
18. 1990-02-27
    soldstatus $36,500
19. 1990-02-27
    soldstatus $36,500

ⓘ 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: $2,661 · $222/mo
• Projected year-2 tax: $2,661 · $222/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°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: $20,026
• − Mortgage interest: −$5,602
• − Property taxes: −$2,661
• − Insurance: −$500
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$2,909
• Taxable income: $5,150
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $5,130/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): 22,869
• Household income: $51,161
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1402.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 13% Hispanic / Latino 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -81.02%
• Current HPI: 215.8559
• Rent YoY: ▲ 8.11%
• 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

+174.0% since first listed

14 events — show timeline

• 2026-05-15 Pending — MRED as Distributed by MLS Grid
• 2026-05-14 Pending — NWIAR
• 2026-05-01 Relisted — NWIAR
• 2026-05-01 Relisted — MRED as Distributed by MLS Grid
• 2026-03-30 Pending — NWIAR
• 2026-03-30 Pending — MRED as Distributed by MLS Grid
• 2026-03-21 Listed $100,000 NWIAR
• 2026-03-21 Listed $100,000 MRED as Distributed by MLS Grid
• 2004-10-22 Sold (Public Records) $92,000 Public Records
• 1995-08-21 Sold (Public Records) $62,000 Public Records
• 1995-08-21 Sold (Public Records) $62,000 Public Records
• 1992-04-24 Sold (Public Records) $38,000 Public Records
• 1990-02-27 Sold (Public Records) $36,500 Public Records
• 1990-02-27 Sold (Public Records) $36,500 Public Records

Property tax history

+2.6%/yr

Latest (2024): $2,661 · +6.6% YoY. Source: county tax records.