1610 Wills Ave · Rockford, IL 61109

$120,000

4 bd · 1.5 ba · 1,891 sqft · SingleFamily · 2 Days on market

Built 1948 7,405 sqft lot Est $151k · 21% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Listing remarks

4 bedroom open plan home. Many newer improvements: roof, siding, windows, entry door, vinyl flooring on main level, remodeled bathroom. Extended heated garage with handyman dream workshop. Driveway extensions for added parking or play space. Grassy yard shaded by beautiful pear tree. Expansive L-shaped rec room with serving counter/bar. Host your celebrations here! Washer and garage range stay. Property is being sold As-Is and will require new kitchen appliances. See attached amenities list.

Key facts

• Remodeled bathroom
• Driveway extensions
• Newer improvements

Tags

• NEWER IMPROVEMENTS
• REMODELED BATHROOM
• EXTENDED HEATED GARAGE
• HANDYMAN DREAM WORKSHOP
• DRIVEWAY EXTENSIONS
• EXPANSIVE L-SHAPED REC ROOM

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Attached garage with 2 spaces; Asphalt and concrete driveway
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single-family house; One-story
• Construction: Below-grade finished area included
• Exterior features: Shingle roof; Lot approximately 0.17 acres

Interior

• Kitchen: Gas cooktop
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished full basement; Security system
• Laundry & utility: Washer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 10.3% 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: Riverdahl Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 561 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: 84 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1948 — 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: 1.35% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $151,280
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2946 Marshall St	0.41mi	4/1.0	1,840 (-3%)	3mo	$130,000	$71	72
2637 Bildahl St	0.27mi	4/2.0	1,780 (-6%)	8mo	$98,000	$55	68
2610 18th St	0.62mi	3/1.5 (-1)	1,810 (-4%)	8mo	$135,000	$75	52
2304 10th St	0.57mi	3/1.0 (-1)	2,030 (+7%)	8mo	$165,000	$81	48
2816 20th St	0.73mi	3/1.0 (-1)	1,819 (-4%)	8mo	$155,000	$85	46
2204 9th St	0.70mi	4/2.0	1,725 (-9%)	7mo	$178,000	$103	45
2910 17th St	0.57mi	3/2.5 (-1)	2,120 (+12%)	2mo	$187,500	$88	42
3133 7th St	0.72mi	4/2.0	1,794 (-5%)	22mo	$125,500	$70	38
2145 Parmele St	0.68mi	4/1.0	1,620 (-14%)	12mo	$125,000	$77	32
1617 Lyran Ave	0.63mi	3/1.0 (-1)	1,686 (-11%)	24mo	$135,000	$80	26

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $6,043
• Equity at exit: $17,892

10-year hold

• IRR: 14.1%
• Equity multiple: 2.14×
• Total profit: $38,242
• 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 61109

• Home prices YoY: -19.7%
• Active inventory: 84
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$205 /mo · $2,454/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $399

Break-even live

Break-even rent $1,119

Max offer price $120,000

Occupancy floor 70%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	43d	1	0.69mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	13d	1	0.95mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	43d	1	1.42mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	1.50mi

Listing history 3 events

1. 2026-06-14
   statusdays on market $120,000 Pending 2 DOM
2. 2026-06-13
   remarks 496-char remark
3. 2026-06-13
   listed $120,000 Active 1 DOM

ⓘ 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: $2,454 · $205/mo
• Projected year-2 tax: $2,589 · $216/mo
• Expected delta: +$135/yr (+$11/mo · 5.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $19,490
• − Mortgage interest: −$6,722
• − Property taxes: −$2,454
• − Insurance: −$600
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,491
• Taxable income: $3,104
• Est. tax owed @ 24.0%: −$745
• After-tax cash flow: $4,046/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): 26,768
• Household income: $62,973
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 941.0

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 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 13% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 13% · Canada, Philippines, China
• Languages at home: 79% English-only · Spanish 16% Other Asian/Pacific 2% 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: ▼ -72.42%
• Current HPI: 296.0019
• 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

1 event — show timeline

• 2026-06-11 Listed $120,000 NWIAR

Property tax history

+2.1%/yr

Latest (2025): $2,454 · +3.8% YoY. Source: county tax records.