1602 Price St · Rockford, IL 61103

$124,900

3 bd · 1.0 ba · 2,710 sqft · SingleFamily · 8 Days on market

Built 1939 4,792 sqft lot Est $195k · 36% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +7.2/10.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 1-bathroom home offers a great opportunity for homeowners or investors. Situated on a corner lot with a fenced backyard, this charming property features beautiful hardwood floors, a front enclosed porch, and a partially finished lower level perfect for extra living space or storage. Built in 1939, the home spans over a manageable lot size with city water and sewer services. Heating is provided through forced air and natural gas. Although cooling is not currently installed, the property offers ample potential for upgrades. Located in District 205-RFD and close to parks, schools, and local amenities, this home is ready for its next owner.

Key facts

• Front enclosed porch
• City water
• Fenced backyard

Tags

• CORNER LOT
• FENCED BACKYARD
• HARDWOOD FLOORS
• FRONT ENCLOSED PORCH
• PARTIALLY FINISHED LOWER LEVEL
• CITY WATER

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached garage (1 car); Shared driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; House
• Construction: Below-grade finished area; Finished lower level present
• Exterior features: Shingle roof; 0.11-acre lot

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Gas cooktop; Refrigerator; Gas water heater; Wood-burning fireplace (2 total); Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 9.2% 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 (+8.1%/yr); 103 active listings in the ZIP; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($51k/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 $864 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 14y 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 $40k; list at $125k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1939 — 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: 1.22% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $195,120
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1909 Price St	0.23mi	3/1.0	2,359 (-13%)	7mo	$155,000	$66	62
917 Haskell Ave	0.54mi	4/2.5 (+1)	2,700 (-0%)	9mo	$86,000	$32	56
919 Garfield Ave	0.44mi	4/1.5 (+1)	2,942 (+9%)	6mo	$243,500	$83	53
1108 North Ave	0.30mi	4/1.0 (+1)	2,435 (-10%)	15mo	$176,500	$72	52
1332 Camp Ave Ave	0.60mi	4/2.5 (+1)	2,464 (-9%)	20mo	$120,000	$49	30
206 Franklin Pl	0.66mi	4/3.0 (+1)	3,064 (+13%)	10mo	$369,900	$121	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.20×
• Total profit: $7,164
• Equity at exit: $18,623

10-year hold

• IRR: 18.7%
• Equity multiple: 2.94×
• Total profit: $67,964
• Equity at exit: $10,799

Cash invested: $34,972 (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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 103
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,525 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$195 /mo · $2,340/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $303

Break-even live

Break-even rent $1,142

Max offer price $124,900

Occupancy floor 75%

Sensitivity live

Price	-10% $374	-5% $338	+0% $303	+5% $268	+10% $232
Rent	-10% $182	-5% $243	+0% $303	+5% $363	+10% $423
Rate	-1.0pp $366	-0.5pp $335	base $303	+0.5pp $271	+1.0pp $238

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-05-21
   listed $124,900 Active

   Show marketing remark (662 chars)

   This 3-bedroom, 1-bathroom home offers a great opportunity for homeowners or investors. Situated on a corner lot with a fenced backyard, this charming property features beautiful hardwood floors, a front enclosed porch, and a partially finished lower level perfect for extra living space or storage. Built in 1939, the home spans over a manageable lot size with city water and sewer services. Heating is provided through forced air and natural gas. Although cooling is not currently installed, the property offers ample potential for upgrades. Located in District 205-RFD and close to parks, schools, and local amenities, this home is ready for its next owner.

2. 2026-05-21
   listed $124,900 Active 662-char remark

   Show marketing remark (662 chars)

   This 3-bedroom, 1-bathroom home offers a great opportunity for homeowners or investors. Situated on a corner lot with a fenced backyard, this charming property features beautiful hardwood floors, a front enclosed porch, and a partially finished lower level perfect for extra living space or storage. Built in 1939, the home spans over a manageable lot size with city water and sewer services. Heating is provided through forced air and natural gas. Although cooling is not currently installed, the property offers ample potential for upgrades. Located in District 205-RFD and close to parks, schools, and local amenities, this home is ready for its next owner.

3. 2025-12-26
   historical $1,355
4. 2025-11-25
   listed $1,355
5. 2025-11-01
   historical
6. 2025-10-31
   historical
7. 2025-10-31
   historical
8. 2025-10-03
   price
9. 2025-10-03
   price $114,900
10. 2025-09-17
    listed Active
11. 2025-09-12
    price $119,900
12. 2025-09-12
    price
13. 2025-05-26
    listed Active
14. 2023-11-10
    historical $1,300
15. 2023-09-27
    listed $1,300
16. 2015-05-07
    soldstatus $39,900
17. 2015-05-04
    soldstatus $39,900
18. 2015-03-23
    listed $44,900
19. 2015-03-17
    historical
20. 2014-09-17
    listed New
21. 2014-08-31
    historical
22. 2014-04-15
    listed New
23. 2012-10-30
    historical
24. 2012-10-26
    listed New
25. 1997-10-01
    soldstatus $56,500
26. 1997-10-01
    soldstatus $56,500
27. 1994-05-04
    soldstatus $49,000
28. 1994-05-04
    soldstatus $49,000
29. 1990-01-30
    soldstatus $39,000
30. 1990-01-30
    soldstatus $39,000

ⓘ 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: $2,340 · $195/mo
• Projected year-2 tax: $2,588 · $216/mo
• Expected delta: +$247/yr (+$21/mo · 10.6%)

ⓘ 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 ≥102°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: $18,304
• − Mortgage interest: −$6,996
• − Property taxes: −$2,340
• − Insurance: −$624
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$3,633
• Taxable income: $1,781
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $3,208/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): 22,869
• Household income: $51,161
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1402.0

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 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 13% Hispanic / Latino 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -81.02%
• Current HPI: 215.8559
• Rent YoY: ▲ 8.11%
• 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

+220.3% since first listed

30 events — show timeline

• 2026-05-21 Listed $124,900 MRED as Distributed by MLS Grid
• 2026-05-21 Listed $124,900 NWIAR
• 2025-12-26 Rental Removed $1,355 BUILDIUM
• 2025-11-25 Listed for Rent $1,355 BUILDIUM
• 2025-11-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-03 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-03 Price Changed $114,900 NWIAR
• 2025-09-17 Listed — RMLSA as Distributed by MLS Grid
• 2025-09-12 Price Changed $119,900 NWIAR
• 2025-09-12 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-26 Listed — MRED as Distributed by MLS Grid
• 2023-11-10 Rental Removed $1,300 BUILDIUM
• 2023-09-27 Listed for Rent $1,300 BUILDIUM
• 2015-05-07 Sold (Public Records) $39,900 Public Records
• 2015-05-04 Sold (MLS) $39,900 NWIAR
• 2015-03-23 Listed $44,900 NWIAR
• 2015-03-17 Listing Removed — MRED as Distributed by MLS Grid
• 2014-09-17 Listed — MRED as Distributed by MLS Grid
• 2014-08-31 Listing Removed — MRED as Distributed by MLS Grid
• 2014-04-15 Listed — MRED as Distributed by MLS Grid
• 2012-10-30 Listing Removed — MRED as Distributed by MLS Grid
• 2012-10-26 Listed — MRED as Distributed by MLS Grid
• 1997-10-01 Sold (Public Records) $56,500 Public Records
• 1997-10-01 Sold (Public Records) $56,500 Public Records
• 1994-05-04 Sold (Public Records) $49,000 Public Records
• 1994-05-04 Sold (Public Records) $49,000 Public Records
• 1990-01-30 Sold (Public Records) $39,000 Public Records
• 1990-01-30 Sold (Public Records) $39,000 Public Records

Property tax history

-1.4%/yr

Latest (2024): $2,340 · +3.5% YoY. Source: county tax records.