1126 16th Ave · Rockford, IL 61104

$139,900

4 bd · 2.0 ba · — sqft · MultiFamily · 47 Days on market

Built 1915 Est $132k · 6% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.9/5.0
• ARV discount +4.8/15.0
• Livability +3.1/5.0
• 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: 2 units. confirmed

Listing remarks MLS

This 1,430 sq ft multi-family property features two units, each with 2 bedrooms and 1 bathroom. Both units offer comfortable living spaces, and the large yard adds extra appeal for tenants or outdoor use. Perfect for investors or owner-occupants looking to generate rental income.

Key facts

• Large yard
• Two units
• 2 parking spots

Tags

• MULTI-FAMILY PROPERTY
• TWO UNITS
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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); 69 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $2,195/mo this rent would consume 78% 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 $967 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 + 8.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $140k implies a 155% 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 $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.57% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.25%
• DSCR: 2.12
• GRM: 5.3

CMA / ARV

• ARV (median comp): $131,942
• List price: $139,900
• Delta: 6.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1126 16th Ave	0.00mi	4/2.0	—	0mo	$132,000	—	87
1627 7th St	0.07mi	4/2.0	—	4mo	$115,000	—	81
1821 7th St	0.16mi	5/2.0 (+1)	—	2mo	$190,000	—	73
1611 S 4th St	0.30mi	4/2.0	—	2mo	$170,000	—	72
1323 Broadway	0.24mi	3/2.0 (-1)	—	2mo	$75,000	—	69
1204 S 6th St	0.36mi	4/2.0	—	3mo	$128,000	—	68
1509 16th Ave	0.34mi	5/2.0 (+1)	—	1mo	$203,000	—	66
2242 7th St	0.51mi	4/2.0	—	1mo	$170,000	—	63
2111 S 4th St	0.46mi	4/2.0	—	4mo	$151,000	—	63
906 S 5th St	0.58mi	4/2.0	—	1mo	$138,000	—	59
1531 12th Ave	0.47mi	4/4.0	—	4mo	$160,000	—	55
1443 8th Ave	0.66mi	4/4.0	1,388	3mo	$219,900	$158	46

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: 24.2%
• Equity multiple: 2.06×
• Total profit: $41,433
• Equity at exit: $20,860

10-year hold

• IRR: 34.9%
• Equity multiple: 4.99×
• Total profit: $156,476
• Equity at exit: $12,096

Cash invested: $39,172 (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: 69
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$734
• Tax from tax record: −$118 /mo · $1,413/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $824

Break-even live

Break-even rent $1,151

Max offer price $139,900

Occupancy floor 57%

Sensitivity live

Price	-10% $904	-5% $864	+0% $824	+5% $785	+10% $745
Rent	-10% $651	-5% $738	+0% $824	+5% $911	+10% $998
Rate	-1.0pp $895	-0.5pp $860	base $824	+0.5pp $788	+1.0pp $751

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,196
Total (2 units)			$2,195

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 10th St Unit 2 Rockford, IL	3.0	1.0	—	$1,250	—	45d	1	0.26mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	45d	1	0.37mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	14d	1	0.38mi
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	45d	1	0.45mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	45d	1	0.50mi
344 Buckbee St Rockford, IL	3.0	2.0	—	$1,300	—	45d	1	0.67mi
1351 7th Ave Rockford, IL	4.0	2.0	1040	$2,000	$1.92	45d	1	0.69mi
1209 6th Ave Rockford, IL	3.0	1.0	—	$1,500	—	22d	1	0.71mi
713 S 4th St Unit Upper Rockford, IL	4.0	2.0	—	$1,500	—	45d	1	0.75mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	22d	1	0.90mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	14d	1	1.01mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	45d	1	1.16mi
507 Oak St Unit 2 Rockford, IL	3.0	2.5	—	$1,250	—	22d	1	1.17mi
222 S 2nd St Unit 224 Rockford, IL	3.0	1.0	—	$1,350	—	22d	1	1.19mi
512 Market St Unit 512 UPPER Rockford, IL	3.0	1.0	—	$1,750	—	45d	1	1.31mi
1229 S Church St Unit 2 Rockford, IL	3.0	1.0	1096	$1,300	$1.19	45d	1	1.34mi

Listing history 8 events

1. 2026-05-05
   status Pending 280-char remark

   Show marketing remark (280 chars)

   This 1,430 sq ft multi-family property features two units, each with 2 bedrooms and 1 bathroom. Both units offer comfortable living spaces, and the large yard adds extra appeal for tenants or outdoor use. Perfect for investors or owner-occupants looking to generate rental income.

2. 2026-04-20
   price $139,900 280-char remark

   Show marketing remark (280 chars)

   This 1,430 sq ft multi-family property features two units, each with 2 bedrooms and 1 bathroom. Both units offer comfortable living spaces, and the large yard adds extra appeal for tenants or outdoor use. Perfect for investors or owner-occupants looking to generate rental income.

3. 2026-03-18
   listed $149,000 Active 280-char remark

   Show marketing remark (280 chars)

   This 1,430 sq ft multi-family property features two units, each with 2 bedrooms and 1 bathroom. Both units offer comfortable living spaces, and the large yard adds extra appeal for tenants or outdoor use. Perfect for investors or owner-occupants looking to generate rental income.

4. 2022-11-28
   historical 507-char remark

   Show marketing remark (507 chars)

   (2) family residential nestled between the 11th Street and Kishwaukee corridor. Each unit has 2 bedrooms and 1 full bath. Both sides occupied by owner/family. (Property IS NOT currently used for rental income. ) Each unit has gas stove, microwave, and refrigerator. 1126 has new vanity and new toilet. 1126 1/2 unit has new tile flooring, new vanity, toilet and bath tub. Window A/C units stay. Water heater on 1126 1/2 side is appx 5 yrs old. New roof September 2021. Fully fenced yard. Basement is clean!

5. 2022-11-10
   soldstatus $54,900
6. 2022-11-07
   soldstatus $54,900 Closed 507-char remark

   Show marketing remark (507 chars)

   (2) family residential nestled between the 11th Street and Kishwaukee corridor. Each unit has 2 bedrooms and 1 full bath. Both sides occupied by owner/family. (Property IS NOT currently used for rental income. ) Each unit has gas stove, microwave, and refrigerator. 1126 has new vanity and new toilet. 1126 1/2 unit has new tile flooring, new vanity, toilet and bath tub. Window A/C units stay. Water heater on 1126 1/2 side is appx 5 yrs old. New roof September 2021. Fully fenced yard. Basement is clean!

7. 2022-10-11
   historical 507-char remark

   Show marketing remark (507 chars)

   (2) family residential nestled between the 11th Street and Kishwaukee corridor. Each unit has 2 bedrooms and 1 full bath. Both sides occupied by owner/family. (Property IS NOT currently used for rental income. ) Each unit has gas stove, microwave, and refrigerator. 1126 has new vanity and new toilet. 1126 1/2 unit has new tile flooring, new vanity, toilet and bath tub. Window A/C units stay. Water heater on 1126 1/2 side is appx 5 yrs old. New roof September 2021. Fully fenced yard. Basement is clean!

8. 2022-10-09
   listed $54,900 507-char remark

   Show marketing remark (507 chars)

   (2) family residential nestled between the 11th Street and Kishwaukee corridor. Each unit has 2 bedrooms and 1 full bath. Both sides occupied by owner/family. (Property IS NOT currently used for rental income. ) Each unit has gas stove, microwave, and refrigerator. 1126 has new vanity and new toilet. 1126 1/2 unit has new tile flooring, new vanity, toilet and bath tub. Window A/C units stay. Water heater on 1126 1/2 side is appx 5 yrs old. New roof September 2021. Fully fenced yard. Basement is clean!

ⓘ 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: $1,413 · $118/mo
• Projected year-2 tax: $2,294 · $191/mo
• Expected delta: +$881/yr (+$73/mo · 62.4%)

ⓘ 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 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: $26,340
• − Mortgage interest: −$7,837
• − Property taxes: −$1,413
• − Insurance: −$700
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$4,070
• Taxable income: $8,107
• Est. tax owed @ 24.0%: −$1,946
• After-tax cash flow: $7,947/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

+154.8% since first listed

8 events — show timeline

• 2026-05-05 Pending — NWIAR
• 2026-04-20 Price Changed $139,900 NWIAR
• 2026-03-18 Listed $149,000 NWIAR
• 2022-11-28 Delisted — NWIAR
• 2022-11-10 Sold (Public Records) $54,900 Public Records
• 2022-11-07 Sold (MLS) $54,900 NWIAR
• 2022-10-11 Delisted — NWIAR
• 2022-10-09 Listed $54,900 NWIAR

Property tax history

-1.6%/yr

Latest (2024): $1,413 · +3.5% YoY. Source: county tax records.