3508 Fremont St · Rockford, IL 61103

$139,900

2 bd · 1.0 ba · 1,702 sqft · SingleFamily · 2 Days on market

Built 1952 0.25 ac lot Est $187k · 25% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +6.3/10.0
• 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 charming brick ranch is well-maintained and offers curb appeal, a great floor plan plus extra garage space! A welcoming living room with updated flooring is light and bright. The cozy dining area and quaint kitchen features stainless steel appliances. There are 2 main floor bedrooms with wood floors and an updated bath. The basement provides additional living space perfect for a family room or recreation area. The inviting screened porch overlooks a nice backyard. Having a 1-car attached garage adds convenience and an additional 2-car detached garage is ideal for extra vehicles, hobbies, storage, or workshop space. Don't miss this great Rockford home!

Key facts

• Attached garage
• Screened porch
• Updated flooring

Tags

• BRICK RANCH
• UPDATED FLOORING
• STAINLESS STEEL APPLIANCES
• SCREENED PORCH
• ATTACHED GARAGE
• DETACHED GARAGE

Property features AI

Exterior

• Parking: 3-car garage with attached and detached options
• Utilities: Public water; Public sewer
• Home design: Single-family residence
• Construction: Brick exterior; Finished below-grade living area (approx. 550 sq ft)
• Exterior features: Shingle roof; Brick construction; Quarter-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: Finished full basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.0% 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: West View Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 420 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 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: Rents rising fast (+8.1%/yr); 103 active listings in the ZIP; 6 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).
• This rent runs 37% 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 $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 ~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.
• 3 sale attempts since 11y 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 $74k; list at $140k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1952 — 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: 1.13% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.96%
• DSCR: 1.27
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $187,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3423 N Church St	0.15mi	2/1.5	1,672 (-2%)	1mo	$176,000	$105	87
3422 Fremont St	0.10mi	3/2.0 (+1)	1,689 (-1%)	1mo	$190,000	$112	84
3535 Latham St	0.09mi	3/1.0 (+1)	1,811 (+6%)	1mo	$207,000	$114	79
1420 Notre Dame Rd	0.26mi	3/2.0 (+1)	1,782 (+5%)	2mo	$190,000	$107	69
3633 N Court St	0.27mi	3/1.5 (+1)	1,617 (-5%)	5mo	$250,000	$155	67
1502 River Bluff Blvd	0.16mi	3/1.5 (+1)	1,497 (-12%)	2mo	$161,000	$108	64
1626 Constitution Pl	0.26mi	3/2.0 (+1)	1,842 (+8%)	2mo	$195,000	$106	64
1611 Notre Dame Rd	0.36mi	3/1.5 (+1)	1,536 (-10%)	1mo	$191,000	$124	59
3128 N Main St	0.37mi	3/1.5 (+1)	1,570 (-8%)	9mo	$172,500	$110	55
1908 W Pearl Ave	0.53mi	3/1.0 (+1)	1,456 (-14%)	0mo	$85,000	$58	46
2023 Crestwood Ave	0.58mi	3/1.0 (+1)	1,447 (-15%)	0mo	$195,000	$135	42
2015 Midway Dr	0.73mi	2/1.5	1,452 (-15%)	8mo	$144,000	$99	32

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: -1.1%
• Equity multiple: 0.95×
• Total profit: $-1,803
• Equity at exit: $20,860

10-year hold

• IRR: 13.5%
• Equity multiple: 2.35×
• Total profit: $52,890
• 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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 103
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$734
• Tax from tax record: −$267 /mo · $3,202/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $195

Break-even live

Break-even rent $1,340

Max offer price $139,900

Occupancy floor 83%

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	13d	1	0.13mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	13d	1	0.43mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	43d	1	0.75mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,232	$1.45	13d	1	1.00mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	43d	1	1.10mi
4719 Illinois St Loves Park, IL	3.0	1.0	1188	$1,600	$1.35	13d	1	1.46mi

Listing history 7 events

1. 2026-05-11
   status Pending

   Show marketing remark (667 chars)

   This charming brick ranch is well-maintained and offers curb appeal, a great floor plan plus extra garage space! A welcoming living room with updated flooring is light and bright. The cozy dining area and quaint kitchen features stainless steel appliances. There are 2 main floor bedrooms with wood floors and an updated bath. The basement provides additional living space perfect for a family room or recreation area. The inviting screened porch overlooks a nice backyard. Having a 1-car attached garage adds convenience and an additional 2-car detached garage is ideal for extra vehicles, hobbies, storage, or workshop space. Don't miss this great Rockford home!

2. 2026-05-11
   status Pending 667-char remark

   Show marketing remark (667 chars)

   This charming brick ranch is well-maintained and offers curb appeal, a great floor plan plus extra garage space! A welcoming living room with updated flooring is light and bright. The cozy dining area and quaint kitchen features stainless steel appliances. There are 2 main floor bedrooms with wood floors and an updated bath. The basement provides additional living space perfect for a family room or recreation area. The inviting screened porch overlooks a nice backyard. Having a 1-car attached garage adds convenience and an additional 2-car detached garage is ideal for extra vehicles, hobbies, storage, or workshop space. Don't miss this great Rockford home!

3. 2026-05-09
   listed $139,900 Active

   Show marketing remark (667 chars)

   This charming brick ranch is well-maintained and offers curb appeal, a great floor plan plus extra garage space! A welcoming living room with updated flooring is light and bright. The cozy dining area and quaint kitchen features stainless steel appliances. There are 2 main floor bedrooms with wood floors and an updated bath. The basement provides additional living space perfect for a family room or recreation area. The inviting screened porch overlooks a nice backyard. Having a 1-car attached garage adds convenience and an additional 2-car detached garage is ideal for extra vehicles, hobbies, storage, or workshop space. Don't miss this great Rockford home!

4. 2026-05-09
   listed $139,900 Active 667-char remark

   Show marketing remark (667 chars)

   This charming brick ranch is well-maintained and offers curb appeal, a great floor plan plus extra garage space! A welcoming living room with updated flooring is light and bright. The cozy dining area and quaint kitchen features stainless steel appliances. There are 2 main floor bedrooms with wood floors and an updated bath. The basement provides additional living space perfect for a family room or recreation area. The inviting screened porch overlooks a nice backyard. Having a 1-car attached garage adds convenience and an additional 2-car detached garage is ideal for extra vehicles, hobbies, storage, or workshop space. Don't miss this great Rockford home!

5. 2015-10-01
   soldstatus $73,500
6. 2015-09-29
   soldstatus $73,500 360-char remark

   Show marketing remark (360 chars)

   EXTREMELY WELL MAINTAINED ALL BRICK RANCH WITH EXCELLENT CURB APPEAL. LOCATED IN A QUIET NW SUBDIVISION THAT INCLUDES SIDEWALKS, CURBS AND GUTTERS. HOME HAS 3 SEASON PORCH THAT LEADS TO CONCRETE PATIO. FINISHED LL FOR LARGE FAMILY GATERINGS, FORMAL DINING ROOM, QUALITY KITCHEN CABINETS, 3 CAR GARAGE SPACE, HIGH EFFICIENCY FURNACE THATS FAIRLY NEW. GREAT BUY!

7. 2015-06-23
   listed $73,500 360-char remark

   Show marketing remark (360 chars)

   EXTREMELY WELL MAINTAINED ALL BRICK RANCH WITH EXCELLENT CURB APPEAL. LOCATED IN A QUIET NW SUBDIVISION THAT INCLUDES SIDEWALKS, CURBS AND GUTTERS. HOME HAS 3 SEASON PORCH THAT LEADS TO CONCRETE PATIO. FINISHED LL FOR LARGE FAMILY GATERINGS, FORMAL DINING ROOM, QUALITY KITCHEN CABINETS, 3 CAR GARAGE SPACE, HIGH EFFICIENCY FURNACE THATS FAIRLY NEW. GREAT BUY!

ⓘ 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: $3,202 · $267/mo
• Projected year-2 tax: $3,202 · $267/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 ≥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: $19,041
• − Mortgage interest: −$7,837
• − Property taxes: −$3,202
• − Insurance: −$700
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$4,070
• Taxable income: $186
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $2,292/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

+90.3% since first listed

7 events — show timeline

• 2026-05-11 Pending — NWIAR
• 2026-05-11 Pending — MRED as Distributed by MLS Grid
• 2026-05-09 Listed $139,900 MRED as Distributed by MLS Grid
• 2026-05-09 Listed $139,900 NWIAR
• 2015-10-01 Sold (Public Records) $73,500 Public Records
• 2015-09-29 Sold (MLS) $73,500 NWIAR
• 2015-06-23 Listed $73,500 NWIAR

Property tax history

+4.6%/yr

Latest (2024): $3,202 · +6.0% YoY. Source: county tax records.