1319 N Springfield Ave · Rockford, IL 61101

$58,500

1 bd · 1.0 ba · 696 sqft · SingleFamily · 7 Days on market

Built 1945 0.38 ac lot Est $45k · 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

Key facts

• Double lot
• New sump pump
• Newer windows

Tags

• DOUBLE LOT
• DETACHED GARAGE
• OVERSIZED LOT
• NEWER WINDOWS
• NEW APPLIANCES
• NEW SUMP PUMP

Property features AI

Exterior

• Parking: Detached asphalt parking; 1.5-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence (house); Residential property
• Exterior features: Shingle roof; 0.38-acre lot

Interior

• Kitchen: Gas cooktop; Dishwasher; Refrigerator
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Basement with full finish and sump pump; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Cap rate 16.9% 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: Kennedy Middle School (math 3% / reading 2%, grade F, #660 of 665 statewide, top 100%, 380 students, 0% FRL); Auburn High School (math 26% / reading 32%, grade F, #210 of 693 statewide, top 30%, 1,936 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: 76 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $404 of loan paydown is wiped out by about $2k 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $45k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,500

Questions for the listing agent

1. Built in 1945 — 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 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: 1.95% ✓
• Cap rate: 16.94%
• Cash-on-cash: 38.03%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $45,240
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4227 Virginia Ave	0.42mi	2/1.0 (+1)	720 (+3%)	13mo	$102,000	$142	59
4216 Virginia Ave	0.44mi	1/1.0	768 (+10%)	18mo	$50,000	$65	48
1318 N Burbank Ave	0.59mi	2/1.0 (+1)	750 (+8%)	14mo	$38,000	$51	43
917 Willard Ave	0.74mi	2/1.0 (+1)	768 (+10%)	6mo	$98,000	$128	38
1337 N Greenview Ave	0.74mi	2/1.0 (+1)	752 (+8%)	24mo	$47,500	$63	27

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: 34.1%
• Equity multiple: 2.44×
• Total profit: $23,587
• Equity at exit: $8,723

10-year hold

• IRR: 41.0%
• Equity multiple: 4.85×
• Total profit: $63,126
• Equity at exit: $5,058

Cash invested: $16,380 (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 61101

• Home prices YoY: -25.4%
• Active inventory: 76
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$307
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $519

Break-even live

Break-even rent $483

Max offer price $58,500

Occupancy floor 49%

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	13d	1	1.39mi
504 Lexington Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	13d	1	1.40mi
615 Newport Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	13d	1	1.46mi

Listing history 10 events

1. 2026-05-19
   listed $58,500 Active
2. 2022-05-04
   soldstatus $45,000
3. 2020-08-14
   soldstatus $21,000 Closed Sale 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

4. 2020-08-14
   soldstatus $21,000 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

5. 2020-07-24
   status Pending 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

6. 2020-07-09
   price $39,500 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

7. 2020-05-01
   listed $42,900 New 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

8. 2020-05-01
   listed $39,500 269-char remark

   Show marketing remark (269 chars)

   DOUBLE LOT WITH FENCED YARD. 1 BEDROOM 1 BATH, Ranch Style Home! 1.5 car garage shaped like a country barn with loft space. Spacious eat-in kitchen with sliding doors to deck leading to the backyard! Newer hot water heater. Great starter home or investment opportunity.

9. 2020-03-31
   historical
10. 2019-12-09
    listed New

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $967 · $81/mo
• Expected delta: +$361/yr (+$30/mo · 59.4%)

ⓘ 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: $13,684
• − Mortgage interest: −$3,277
• − Property taxes: −$607
• − Insurance: −$292
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$1,702
• Taxable income: $5,616
• Est. tax owed @ 24.0%: −$1,348
• After-tax cash flow: $4,882/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

• County: Winnebago County · 147,297 people
• City population: 147,297
• Metro: Rockford, IL
• Population (ZIP): 19,318
• Household income: $46,163
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1170.0

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 0.66)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Portuguese 2%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% Other Indo-European 1% 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: ▼ -69.58%
• Current HPI: 204.8946
• Rent YoY: —
• 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

+48.1% since first listed

10 events — show timeline

• 2026-05-19 Listed $58,500 NWIAR
• 2022-05-04 Sold (Public Records) $45,000 Public Records
• 2020-08-14 Sold (MLS) $21,000 MRED as Distributed by MLS Grid
• 2020-08-14 Sold (MLS) $21,000 NWIAR
• 2020-07-24 Pending — MRED as Distributed by MLS Grid
• 2020-07-09 Price Changed $39,500 MRED as Distributed by MLS Grid
• 2020-05-01 Listed $42,900 MRED as Distributed by MLS Grid
• 2020-05-01 Listed $39,500 NWIAR
• 2020-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2019-12-09 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2024): $607 · +124.5% YoY. Source: county tax records.