621 E Garden St · Freeport, IL 61032

$124,900

3 bd · 1.5 ba · 1,472 sqft · SingleFamily · 20 Days on market

Built 1907 6,534 sqft lot Est $96k · 31% over

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Why this score? — see what drove the D+ 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

Key facts

• Covered front porch
• Updated half bath
• New appliances

Tags

• OVERSIZED 2-STALL GARAGE
• UPDATED HALF BATH
• UPDATED KITCHEN
• NEW APPLIANCES
• COVERED FRONT PORCH
• BACKYARD DECK

Property features AI

Exterior

• Parking: Detached concrete 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; House; 2 stories
• Construction: Wood siding construction
• Exterior features: Shingle roof

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas cooktop; Refrigerator; Gas water heater; Partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.8% in Freeport — 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 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 205 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% of comp listings sitting > 30 days — soft ceiling on asking rent; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stephenson County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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.
• Current owner paid $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $95,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
827 E Garden St	0.15mi	4/1.0 (+1)	1,395 (-5%)	4mo	$89,900	$64	74
25 E Roosevelt St	0.55mi	3/2.0	1,440 (-2%)	2mo	$93,000	$65	67
1507 S Chicago Ave	0.48mi	2/2.0 (-1)	1,432 (-3%)	1mo	$105,000	$73	65
1607 S Highland Ave	0.61mi	4/1.5 (+1)	1,476 (+0%)	2mo	$112,000	$76	65
727 E Garden St	0.08mi	2/1.0 (-1)	1,280 (-13%)	4mo	$92,500	$72	65
934 E Garden St	0.23mi	3/1.0	1,258 (-14%)	1mo	$43,900	$35	62
1256 S Oak St	0.56mi	3/1.0	1,410 (-4%)	5mo	$35,000	$25	61
535 E Madison St	0.58mi	4/1.0 (+1)	1,500 (+2%)	3mo	$27,000	$18	60
316 W American St	0.73mi	3/1.0	1,444 (-2%)	3mo	$67,000	$46	59
1506 S Walnut Ave	0.74mi	3/1.5	1,534 (+4%)	2mo	$144,900	$94	57
1468 S Float Ave	0.34mi	3/1.0	1,682 (+14%)	4mo	$65,000	$39	55
719 S Walnut Ave	0.74mi	3/1.0	1,388 (-6%)	3mo	$150,000	$108	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,317
• Equity at exit: $18,623

10-year hold

• IRR: 5.6%
• Equity multiple: 1.42×
• Total profit: $14,542
• Equity at exit: $10,799

Cash invested: $34,972 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 205
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,317 high
• Mortgage (P&I): −$655
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $235

Break-even live

Break-even rent $1,020

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $305	-5% $270	+0% $235	+5% $199	+10% $164
Rent	-10% $130	-5% $183	+0% $235	+5% $287	+10% $339
Rate	-1.0pp $297	-0.5pp $266	base $235	+0.5pp $202	+1.0pp $169

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 E Shawnee St Freeport, IL	2.0	1.0	962	$1,495	$1.55	22d	1	0.28mi
816 S James Ave Freeport, IL	3.0	1.0	1152	$1,325	$1.15	44d	1	0.67mi
1645 Hilltop Pl Freeport, IL	3.0	1.0	1008	$1,000	$0.99	44d	1	1.12mi
1645 Hilltop Pl Unit 2 Freeport, IL	3.0	1.5	1008	$1,000	$0.99	44d	1	1.12mi
742 W Homer St Freeport, IL	3.0	1.0	1434	$1,325	$0.92	44d	1	1.18mi
320 W Clark St Freeport, IL	4.0	1.0	1509	$1,395	$0.92	44d	1	1.18mi
435 N Apple Ave Freeport, IL	4.0	2.0	1500	$1,450	$0.97	44d	1	1.30mi
837 W Stephenson St Freeport, IL	2.0	1.0	1330	$1,000	$0.75	44d	1	1.41mi

Listing history 22 events

1. 2026-06-21
   pricedays on market $124,900 Active 20 DOM
2. 2026-06-18
   days on market $129,900 Active 18 DOM
3. 2026-06-17
   days on market $129,900 Active 17 DOM
4. 2026-06-16
   days on market $129,900 Active 16 DOM
5. 2026-06-15
   days on market $129,900 Active 15 DOM
6. 2026-06-13
   days on market $129,900 Active 13 DOM
7. 2026-06-12
   days on market $129,900 Active 12 DOM
8. 2026-06-09
   days on market $129,900 Active 9 DOM
9. 2026-06-08
   days on market $129,900 Active 8 DOM
10. 2026-06-07
    days on market $129,900 Active 7 DOM
11. 2026-06-07
    statusdays on market $129,900 Active 6 DOM
12. 2026-05-25
    listed $129,900 Active
13. 2025-12-01
    soldstatus $49,900 Closed 820-char remark

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

14. 2025-12-01
    soldstatus $49,900 Closed

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

15. 2025-11-14
    status Pending 820-char remark

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

16. 2025-11-14
    historical Contingent - Continue to Show

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

17. 2025-11-10
    listed $49,900 Active 820-char remark

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

18. 2025-11-10
    listed $49,900 Active

    Show marketing remark (820 chars)

    Spacious Home with Original Woodwork and Large Garage. The main floor features a well-appointed kitchen plus an original butler’s pantry, a formal dining room with original hardwood floors and woodwork, a comfortable living room, and a main-floor laundry with half bath. Upstairs offers three bedrooms and a full bath, providing plenty of space for everyone. Car enthusiasts and hobbyists will love the oversized 24' x 30' garage with ample room for vehicles, tools, or storage—plus additional parking off the alley. The backyard is designed for relaxation and gatherings with a 16' x 11' deck, built-in seating, and a firepit to enjoy year-round. A rare affordable find offering both character and function—perfect for buyers looking for a spacious garage, original woodwork, and outdoor living space.

19. 2023-03-16
    soldstatus $63,000
20. 2023-03-15
    soldstatus $65,000 Closed
21. 2023-02-17
    status Pending
22. 2023-02-14
    listed $64,900 Active

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$824/yr (+$69/mo · 69.4%)

ⓘ 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: $15,805
• − Mortgage interest: −$6,996
• − Property taxes: −$1,188
• − Insurance: −$624
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$3,633
• Taxable income: $835
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,614/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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, IL
• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• Rent YoY: —
• Metro: —
• 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

+100.2% since first listed

11 events — show timeline

• 2026-05-25 Listed $129,900 NWIAR
• 2025-12-01 Sold (MLS) $49,900 MRED as Distributed by MLS Grid
• 2025-12-01 Sold (MLS) $49,900 NWIAR
• 2025-11-14 Pending — NWIAR
• 2025-11-14 Contingent — MRED as Distributed by MLS Grid
• 2025-11-10 Listed $49,900 NWIAR
• 2025-11-10 Listed $49,900 MRED as Distributed by MLS Grid
• 2023-03-16 Sold (Public Records) $63,000 Public Records
• 2023-03-15 Sold (MLS) $65,000 NWIAR
• 2023-02-17 Pending — NWIAR
• 2023-02-14 Listed $64,900 NWIAR

Property tax history

+73.7%/yr

Latest (2024): $1,188 · +73.7% YoY. Source: county tax records.