4708 Forest Hills Rd · Loves Park, IL 61111

$175,000

4 bd · 3.0 ba · — sqft · MultiFamily · 155 Days on market

Built 1920 0.41 ac lot ↓ 19% since listing

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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
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• 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

Unique 2-family property on one lot featuring an all-brick front home plus a separate back home attached to the garage. The front residence offers 3 bedrooms and 2 bathrooms, a spacious kitchen, dining room, office, and a bright living room with fireplace and hardwood flooring. The back home includes 2 bedrooms, 1 bathroom, living room, and kitchen. Fully occupied with long-term tenants in place. Property is being sold as-is; cash or portfolio loans only.

Key facts

• 2 family property
• Attached to garage
• Separate back home

Tags

• 2 FAMILY PROPERTY
• ALL BRICK FRONT HOME
• SEPARATE BACK HOME
• ATTACHED TO GARAGE
• SPACIOUS KITCHEN
• BRIGHT LIVING ROOM

Property features AI

Finance

• Financial info: Special service area: No; Possession subject to tenants' rights; One 3-bedroom unit currently rented for $1,600 (lease expires April 1, 2026); One 2-bedroom unit currently rented for $750 (lease expires April 1, 2026); Two units in building (total); Unit tenants pay electric and gas

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Well water; Public sewer; Forced air heating
• Home design: Two- to four-unit property; Fee simple ownership; Over 100 years old; Built before 1978
• Construction: Brick and stucco exterior
• Exterior features: Lot dimensions approximately 70 x 297.7 x 70 x 293.7; Lot between 0.25 and 0.49 acre

Interior

• Kitchen: No appliances listed for units
• Bedrooms: 5 bedrooms total; Building includes a 3-bedroom unit and a 2-bedroom unit
• Bathrooms: 3 full bathrooms total (building)
• Interior features: 11 total rooms; Unfinished full basement; Some photos virtually staged
• Laundry & utility: Tenant(s) pay for electric and gas (for listed units)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 4.9% in Loves Park — 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 74/100 on livability (#255 in IL, #4,724 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, commute F.
• Harlem UD 122 (suburban): math 17% / reading 23% proficiency, ranked #418 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 91 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.68% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.92%
• DSCR: 2.02
• GRM: 4.9

CMA / ARV

No comps found within radius.

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5118 N 2nd St	0.58mi	3/3.0 (-1)	—	6mo	$185,000	—	51
531 Pearl Ave	0.64mi	3/3.0 (-1)	—	11mo	$720,000	—	44
2308 Melrose St	0.71mi	4/4.0	—	20mo	$234,000	—	34
430 Pearl Ave	0.64mi	3/2.0 (-1)	—	22mo	$216,500	—	30

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: 15.9%
• Equity multiple: 1.64×
• Total profit: $31,416
• Equity at exit: $26,093

10-year hold

• IRR: 24.6%
• Equity multiple: 3.14×
• Total profit: $104,762
• Equity at exit: $15,131

Cash invested: $49,000 (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 61111

• Active inventory: 91
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,948 high
• Mortgage (P&I): −$918
• Tax from tax record: −$402 /mo · $4,827/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $936

Break-even live

Break-even rent $1,763

Max offer price $175,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,948
Total (2 units)			$2,948

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4719 Illinois St Loves Park, IL	3.0	1.0	1188	$1,600	$1.35	13d	1	0.16mi
5304 Hollis Ave Loves Park, IL	3.0	1.0	—	$1,400	—	21d	1	0.72mi
3121 Carefree Dr Rockford, IL	4.0	2.5	3000	$2,800	$0.93	43d	1	0.90mi
4016 Eaton Dr Unit 1232695P Rockford, IL	3.0	3.0	1722	$4,169	$2.42	13d	1	1.01mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	43d	1	1.14mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	43d	1	1.24mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	13d	1	1.24mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	13d	1	1.31mi
3117 Louise St Rockford, IL	3.0	1.0	—	$1,450	—	13d	1	1.32mi
3903 Burrmont Rd Rockford, IL	3.0	1.0	—	$1,700	—	21d	1	1.49mi

Listing history 11 events

1. 2026-06-03
   days on market $175,000 Active 155 DOM
2. 2026-06-02
   days on market $175,000 Active 154 DOM
3. 2026-06-01
   days on market $175,000 Active 153 DOM
4. 2026-05-31
   days on market $175,000 Active 152 DOM
5. 2026-05-30
   days on market $175,000 Active 151 DOM
6. 2026-02-20
   listed $175,000 Active 459-char remark

   Show marketing remark (459 chars)

   Unique 2-family property on one lot featuring an all-brick front home plus a separate back home attached to the garage. The front residence offers 3 bedrooms and 2 bathrooms, a spacious kitchen, dining room, office, and a bright living room with fireplace and hardwood flooring. The back home includes 2 bedrooms, 1 bathroom, living room, and kitchen. Fully occupied with long-term tenants in place. Property is being sold as-is; cash or portfolio loans only.

7. 2025-12-30
   listed $175,000 Active
8. 2025-03-03
   price $205,000
9. 2025-02-22
   price $209,900
10. 2025-02-13
    price $210,000
11. 2025-02-07
    price $215,000

ⓘ 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: $4,827 · $402/mo
• Projected year-2 tax: $4,827 · $402/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $35,376
• − Mortgage interest: −$9,803
• − Property taxes: −$4,827
• − Insurance: −$875
• − Repairs & maintenance: −$2,830
• − Management: −$2,830
• − Depreciation: −$5,091
• Taxable income: $9,120
• Est. tax owed @ 24.0%: −$2,189
• After-tax cash flow: $9,044/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: Harlem UD 122
• NCES district ID: 1718240
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $51,228
• Composite: 18.01/100
• National rank: #8982
• State rank: #418 of 620 in IL

Livability — Loves Park

• Score: 74/100
• State rank: #255
• US rank: #4724

Category grades

Amenities C Commute F Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loves Park, IL
• City population: 22,838
• Population (ZIP): 22,838

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 (70%)
• Race & ethnicity: White 70% Two or more races 11% Hispanic / Latino 9% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 4% Portuguese 3% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 3% 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: ▼ -125.48%
• Current HPI: 222.3872
• 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

-18.6% since first listed

6 events — show timeline

• 2026-02-20 Listed $175,000 NWIAR
• 2025-12-30 Listed $175,000 MRED as Distributed by MLS Grid
• 2025-03-03 Price Changed $205,000 NWIAR
• 2025-02-22 Price Changed $209,900 NWIAR
• 2025-02-13 Price Changed $210,000 NWIAR
• 2025-02-07 Price Changed $215,000 NWIAR

Property tax history

+1.4%/yr

Latest (2024): $4,827 · +4.6% YoY. Source: county tax records.