608 Rome Ave · Rockford, IL 61107

$186,900

3 bd · 2.0 ba · 1,710 sqft · MultiFamily · 20 Days on market

Built 1926 7,841 sqft lot $109/sqft · 15% above area Est $163k · 15% over

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Why this score? — see what drove the C- 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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +7.2/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Updated and Full of Potential! This spacious 3 bedroom, 2 full bath home features tastefully finished, updated bathrooms and an open kitchen with pass-through overlooking the living room, complete with stainless steel appliances including a dishwasher, refrigerator, microwave, and stove. Recessed lighting and amazing decor throughout create a warm, modern feel. Major updates include a newer furnace and water heater (2021), plus central air for year-round comfort. The home sits on a huge, fenced yard and includes a 2 car garage with convenient alley access. A separate rear entrance adds flexibility, and the basement is roughed-in offering additional living potential. Previously used as a two-family, this property could easily be converted back making it a great opportunity for both owner-occupants and investors. Located in a desirable area close to shopping, dining, and other amenities. Please be advised home is under surveillance.

Key facts

• Fenced yard
• Basement roughed-in
• Updated bathrooms

Tags

• UPDATED BATHROOMS
• OPEN KITCHEN
• STAINLESS STEEL APPLIANCES
• FENCED YARD
• SEPARATE REAR ENTRANCE
• BASEMENT ROUGHED-IN

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; House
• Exterior features: Shingle roof; 0.18-acre lot

Interior

• Kitchen: Gas cooktop; Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Gas cooktop; Dishwasher; Microwave; Refrigerator; Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $187k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).
• Recommended offer: $184k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: crime F, amenities F, commute 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.
• Zoned schools: C Henry Bloom Elem School (math 12% / reading 8%, grade F, #1,517 of 2,056 statewide, top 78%, 410 students, 0% FRL); Abraham Lincoln Middle School (math 3% / reading 7%, grade F, #636 of 665 statewide, top 98%, 699 students, 0% FRL); Rockford East High School (math 7% / reading 13%, grade F, #528 of 693 statewide, top 82%, 1,718 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.9%/yr); 151 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 5.9% rent growth), your $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $71k; list at $187k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,096 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• GRM: 6.8

CMA / ARV

• ARV (median comp): $162,818
• List price: $186,900
• Delta: 14.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.92% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,798
• Equity at exit: $27,867

10-year hold

• IRR: 13.9%
• Equity multiple: 2.27×
• Total profit: $66,497
• Equity at exit: $16,160

Cash invested: $52,332 (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 61107

• Home prices YoY: -20.1%
• Rents YoY: 5.9%
• Active inventory: 151
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,283 high
• Mortgage (P&I): −$980
• Tax from tax record: −$336 /mo · $4,032/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $410

Break-even live

Break-even rent $1,765

Max offer price $186,900

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,174
1× unit	1	1	$1,109
Total (2 units)			$2,283

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: $46,725
• Closing costs: $5,607
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2021 2nd Ave Rockford, IL	2.0	1.0	1250	$1,000	$0.80	13d	1	0.57mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	43d	1	0.73mi
314 N Longwood St Rockford, IL	2.0	1.0	1060	$1,100	$1.04	43d	1	1.04mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	21d	1	1.13mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	21d	1	1.20mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	1.23mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	21d	1	1.40mi
4300 Eastridge Dr Unit 1 Rockford, IL	3.0	2.0	1500	$1,575	$1.05	13d	1	1.47mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	43d	1	1.50mi

Listing history 14 events

1. 2026-04-29
   listed $186,900 Active 944-char remark

   Show marketing remark (944 chars)

   Updated and Full of Potential! This spacious 3 bedroom, 2 full bath home features tastefully finished, updated bathrooms and an open kitchen with pass-through overlooking the living room, complete with stainless steel appliances including a dishwasher, refrigerator, microwave, and stove. Recessed lighting and amazing decor throughout create a warm, modern feel. Major updates include a newer furnace and water heater (2021), plus central air for year-round comfort. The home sits on a huge, fenced yard and includes a 2 car garage with convenient alley access. A separate rear entrance adds flexibility, and the basement is roughed-in offering additional living potential. Previously used as a two-family, this property could easily be converted back making it a great opportunity for both owner-occupants and investors. Located in a desirable area close to shopping, dining, and other amenities. Please be advised home is under surveillance.

2. 2026-04-09
   historical 944-char remark

   Show marketing remark (944 chars)

   Updated and Full of Potential! This spacious 3 bedroom, 2 full bath home features tastefully finished, updated bathrooms and an open kitchen with pass-through overlooking the living room, complete with stainless steel appliances including a dishwasher, refrigerator, microwave, and stove. Recessed lighting and amazing decor throughout create a warm, modern feel. Major updates include a newer furnace and water heater (2021), plus central air for year-round comfort. The home sits on a huge, fenced yard and includes a 2 car garage with convenient alley access. A separate rear entrance adds flexibility, and the basement is roughed-in offering additional living potential. Previously used as a two-family, this property could easily be converted back making it a great opportunity for both owner-occupants and investors. Located in a desirable area close to shopping, dining, and other amenities. Please be advised home is under surveillance.

3. 2026-03-31
   listed $186,900 Active 951-char remark
4. 2018-04-16
   soldstatus $71,000
5. 2018-04-12
   soldstatus $71,000 Closed Sale

   Show marketing remark (367 chars)

   Charming, move-in ready 3 bedroom home. Covered front porch. Large living/dining room. Kitchen with breakfast nook. Two bedrooms and one full bath on the main level, 2nd level has 3rd bedroom, full bath and small kitchen. 2nd level does not have central air, has access from outside which could make it a separate apartment. Lots of potential - Come see for yourself!

6. 2018-04-12
   soldstatus $71,000

   Show marketing remark (367 chars)

   Charming, move-in ready 3 bedroom home. Covered front porch. Large living/dining room. Kitchen with breakfast nook. Two bedrooms and one full bath on the main level, 2nd level has 3rd bedroom, full bath and small kitchen. 2nd level does not have central air, has access from outside which could make it a separate apartment. Lots of potential - Come see for yourself!

7. 2018-04-04
   status Pending

   Show marketing remark (367 chars)

   Charming, move-in ready 3 bedroom home. Covered front porch. Large living/dining room. Kitchen with breakfast nook. Two bedrooms and one full bath on the main level, 2nd level has 3rd bedroom, full bath and small kitchen. 2nd level does not have central air, has access from outside which could make it a separate apartment. Lots of potential - Come see for yourself!

8. 2018-03-30
   listed $79,900
9. 2018-03-28
   listed $79,900 New

   Show marketing remark (367 chars)

   Charming, move-in ready 3 bedroom home. Covered front porch. Large living/dining room. Kitchen with breakfast nook. Two bedrooms and one full bath on the main level, 2nd level has 3rd bedroom, full bath and small kitchen. 2nd level does not have central air, has access from outside which could make it a separate apartment. Lots of potential - Come see for yourself!

10. 2006-04-19
    soldstatus $108,000
11. 1995-10-05
    soldstatus $62,000
12. 1995-10-05
    soldstatus $62,000
13. 1992-11-04
    soldstatus $58,000
14. 1992-11-04
    soldstatus $58,000

ⓘ 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: $4,032 · $336/mo
• Projected year-2 tax: $4,138 · $345/mo
• Expected delta: +$105/yr (+$9/mo · 2.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $27,396
• − Mortgage interest: −$10,469
• − Property taxes: −$4,032
• − Insurance: −$934
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − Depreciation: −$5,437
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $4,401/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): 30,765
• Household income: $78,574
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 981.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Black 9% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 11% Arabic 1% Other Indo-European 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: ▼ -62.46%
• Current HPI: 248.8598
• Rent YoY: ▲ 5.92%
• 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

+222.2% since first listed

16 events — show timeline

• 2026-05-19 Pending — NWIAR
• 2026-05-19 Contingent — MRED as Distributed by MLS Grid
• 2026-04-29 Listed $186,900 MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-31 Listed $186,900 NWIAR
• 2018-04-16 Sold (Public Records) $71,000 Public Records
• 2018-04-12 Sold (MLS) $71,000 MRED as Distributed by MLS Grid
• 2018-04-12 Sold (MLS) $71,000 NWIAR
• 2018-04-04 Pending — MRED as Distributed by MLS Grid
• 2018-03-30 Listed $79,900 NWIAR
• 2018-03-28 Listed $79,900 MRED as Distributed by MLS Grid
• 2006-04-19 Sold (Public Records) $108,000 Public Records
• 1995-10-05 Sold (Public Records) $62,000 Public Records
• 1995-10-05 Sold (Public Records) $62,000 Public Records
• 1992-11-04 Sold (Public Records) $58,000 Public Records
• 1992-11-04 Sold (Public Records) $58,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $4,032 · +5.4% YoY. Source: county tax records.