1234 West St · Rockford, IL 61102

$120,000

4 bd · 2.0 ba · 1,635 sqft · MultiFamily · 53 Days on market

Built 1977 $73/sqft · at area comps Est $126k · at est.

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.6/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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

Investor Alert! Own this spacious 2-story duplex and start earning extra income! The main level features a formal living, first floor laundry, large eat-in-kitchen and 2 spacious bedrooms with deep closets. The upper level features a good-size living room, eat-in kitchen and 2 bedrooms. Huge fenced yard. This property needs some TLC. This property could be easily converted back to a single family home. Property is being sold As-Is. No FHA/VA financing.

Key facts

• Parking
• Built 1977
• Listed 53 days

Property features AI

Exterior

• Parking: 1 parking space
• Home design: Duplex residential income property; 2-story
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Heating & cooling: Central air
• Interior features: Central air conditioning; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: Washington Elementary School (math 3% / reading 7%, grade F, #1,741 of 2,056 statewide, top 93%, 485 students, 0% FRL); Rockford Envrnmntl Science Acad (math 0% / reading 7%, grade F, #652 of 665 statewide, top 98%, 1,051 students, 0% FRL); Jefferson High School (math 3% / reading 9%, grade F, #608 of 693 statewide, top 88%, 2,114 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: 72 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 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 $38k; list at $120k implies a 216% gain — meaningful room to come down on a strong offer.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.95% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.73%
• DSCR: 2.63
• GRM: 4.3

CMA / ARV

• ARV (median comp): $125,925
• List price: $120,000
• Delta: -4.71%
• Verdict: FAIR
• Comps: 14 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.6%
• Equity multiple: 2.37×
• Total profit: $46,086
• Equity at exit: $17,892

10-year hold

• IRR: 39.6%
• Equity multiple: 4.71×
• Total profit: $124,597
• Equity at exit: $10,375

Cash invested: $33,600 (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 61102

• Home prices YoY: -33.1%
• Active inventory: 72
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$629
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,028

Break-even live

Break-even rent $1,039

Max offer price $120,000

Occupancy floor 51%

Sensitivity live

Price	-10% $1,096	-5% $1,062	+0% $1,028	+5% $994	+10% $960
Rent	-10% $843	-5% $936	+0% $1,028	+5% $1,121	+10% $1,213
Rate	-1.0pp $1,089	-0.5pp $1,059	base $1,028	+0.5pp $997	+1.0pp $966

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,340
Total (2 units)			$2,341

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1229 S Church St Unit 2 Rockford, IL	3.0	1.0	1096	$1,300	$1.19	45d	1	0.18mi
303 Forest Ave Rockford, IL	4.0	1.0	1568	$1,800	$1.15	45d	1	1.27mi
210 Irving Ave Rockford, IL	5.0	1.0	1202	$1,850	$1.54	45d	1	1.27mi
207 N Central Ave Rockford, IL	4.0	1.5	1296	$1,500	$1.16	15d	1	1.31mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	45d	1	1.35mi
2315 Green St Rockford, IL	3.0	1.0	1290	$1,600	$1.24	45d	1	1.36mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	15d	1	1.41mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	45d	1	1.50mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	45d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $120,000 Active 53 DOM
2. 2026-06-19
   days on market $120,000 Active 51 DOM
3. 2026-06-18
   days on market $120,000 Active 50 DOM
4. 2026-06-17
   days on market $120,000 Active 49 DOM
5. 2026-06-16
   days on market $120,000 Active 48 DOM
6. 2026-06-15
   days on market $120,000 Active 47 DOM
7. 2026-06-14
   days on market $120,000 Active 45 DOM
8. 2026-06-13
   days on market $120,000 Active 44 DOM
9. 2026-06-10
   days on market $120,000 Active 42 DOM
10. 2026-06-09
    days on market $120,000 Active 41 DOM
11. 2026-06-08
    days on market $120,000 Active 40 DOM
12. 2026-06-07
    days on market $120,000 Active 39 DOM
13. 2026-06-03
    days on market $120,000 Active 35 DOM
14. 2026-06-02
    days on market $120,000 Active 34 DOM
15. 2026-06-01
    days on market $120,000 Active 33 DOM
16. 2026-05-31
    days on market $120,000 Active 32 DOM
17. 2026-05-30
    days on market $120,000 Active 31 DOM
18. 2026-04-29
    listed $120,000 Active 438-char remark
19. 2023-06-09
    soldstatus $38,000 Closed 456-char remark

    Show marketing remark (456 chars)

    Investor Alert! Own this spacious 2-story duplex and start earning extra income! The main level features a formal living, first floor laundry, large eat-in-kitchen and 2 spacious bedrooms with deep closets. The upper level features a good-size living room, eat-in kitchen and 2 bedrooms. Huge fenced yard. This property needs some TLC. This property could be easily converted back to a single family home. Property is being sold As-Is. No FHA/VA financing.

20. 2023-05-22
    status Pending 456-char remark

    Show marketing remark (456 chars)

    Investor Alert! Own this spacious 2-story duplex and start earning extra income! The main level features a formal living, first floor laundry, large eat-in-kitchen and 2 spacious bedrooms with deep closets. The upper level features a good-size living room, eat-in kitchen and 2 bedrooms. Huge fenced yard. This property needs some TLC. This property could be easily converted back to a single family home. Property is being sold As-Is. No FHA/VA financing.

21. 2023-05-18
    listed $36,000 Active 456-char remark

    Show marketing remark (456 chars)

    Investor Alert! Own this spacious 2-story duplex and start earning extra income! The main level features a formal living, first floor laundry, large eat-in-kitchen and 2 spacious bedrooms with deep closets. The upper level features a good-size living room, eat-in kitchen and 2 bedrooms. Huge fenced yard. This property needs some TLC. This property could be easily converted back to a single family home. Property is being sold As-Is. No FHA/VA financing.

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $2,212 · $184/mo
• Expected delta: +$512/yr (+$43/mo · 30.1%)

ⓘ 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 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: $28,092
• − Mortgage interest: −$6,722
• − Property taxes: −$1,700
• − Insurance: −$600
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$3,491
• Taxable income: $11,084
• Est. tax owed @ 24.0%: −$2,660
• After-tax cash flow: $9,681/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
• City population: 147,297
• Population (ZIP): 16,620

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 36% Black 33% Hispanic / Latino 25% Two or more races 15%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Portuguese 2% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 18%

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: ▼ -93.81%
• Current HPI: 189.9634
• 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

+233.3% since first listed

4 events — show timeline

• 2026-04-29 Listed $120,000 NWIAR
• 2023-06-09 Sold (MLS) $38,000 NWIAR
• 2023-05-22 Pending — NWIAR
• 2023-05-18 Listed $36,000 NWIAR

Property tax history

+2.7%/yr

Latest (2025): $1,700 · +10.5% YoY. Source: county tax records.