229 N Gardiner Ave · Rockford, IL 61107

$175,000

3 bd · 1.5 ba · 2,035 sqft · SingleFamily · 8 Days on market

Built 1930 4,356 sqft lot Est $173k · at est.

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Why this score? — see what drove the D 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 +15.2/30.0
• ARV discount +7.0/15.0
• 1% rule +5.0/10.0
• DSCR +4.7/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautiful colonial located in north east Rockford. This 3 bedroom and 1.5 bath is full of character and charm and in an ideal location. All 3 bedrooms are upstairs with a nice size full bath, brand new carpet and has been freshly painted. Main floor you'll find a 1/2 bath, wood burning fireplace, sunroom, living room, dining room, breakfast nook and newer updated kitchen. Lower level offers a playroom or office or den with new LVT flooring, full size washer/dryer, water softener and additional storage with built in cabinets. Enjoy morning coffee or BBQ dinner off of the back deck. Sold as is. No FHA or VA.

Key facts

• Private deck
• Large living room
• Updated kitchen

Tags

• LARGE LIVING ROOM
• UPDATED KITCHEN
• ABUNDANT CABINET STORAGE
• FINISHED LOWER LEVEL
• FENCED BACKYARD
• PRIVATE DECK

Property features AI

Exterior

• Parking: Detached garage; Shared driveway; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; 2 stories
• Exterior features: Shingle roof

Interior

• Kitchen: Gas cooktop; Dishwasher; Disposal; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Wood-burning fireplace; Full basement
• Laundry & utility: Washer; Dryer; Gas water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $62 ($749/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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: C Henry Bloom Elem School (math 12% / reading 8%, grade F, #1,517 of 2,056 statewide, top 78%, 410 students, 0% FRL); Abraham Lincoln Middle School (math 3% / reading 7%, grade F, #636 of 665 statewide, top 98%, 699 students, 0% FRL); Rockford East High School (math 7% / reading 13%, grade F, #528 of 693 statewide, top 82%, 1,718 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 (+5.9%/yr); 157 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $110k; list at $175k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $172,975
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1611 Jackson St	0.22mi	3/2.5	2,029 (-0%)	1mo	$195,000	$96	84
422 N Gardiner Ave	0.15mi	3/2.5	2,082 (+2%)	4mo	$274,000	$132	82
1822 E State St	0.13mi	2/1.5 (-1)	1,856 (-9%)	1mo	$130,000	$70	74
302 N Rockford Ave	0.39mi	4/2.0 (+1)	1,970 (-3%)	2mo	$257,000	$130	68
131 S Chicago Ave	0.24mi	4/2.0 (+1)	1,866 (-8%)	6mo	$192,000	$103	63
627 Paris Ave	0.42mi	4/1.5 (+1)	2,176 (+7%)	4mo	$173,000	$80	61
1404 Benton St	0.38mi	4/1.5 (+1)	1,829 (-10%)	1mo	$107,000	$59	60
634 13th St	0.59mi	3/2.0	1,920 (-6%)	5mo	$100,000	$52	57
1411 Crosby St	0.34mi	4/2.0 (+1)	1,775 (-13%)	2mo	$120,000	$68	54
1315 4th Ave	0.69mi	4/1.0 (+1)	1,953 (-4%)	3mo	$82,500	$42	51
743 Bohm Ct	0.50mi	4/2.0 (+1)	2,282 (+12%)	4mo	$195,000	$85	46
625 Robert Ave	0.69mi	4/3.0 (+1)	1,811 (-11%)	5mo	$220,000	$121	34

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 · 5.92% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.61×
• Total profit: $-18,966
• Equity at exit: $26,093

10-year hold

• IRR: 3.0%
• Equity multiple: 1.25×
• Total profit: $12,169
• 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 61107

• Home prices YoY: -20.1%
• Rents YoY: 5.9%
• Active inventory: 157
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$336 /mo · $4,029/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $62

Break-even live

Break-even rent $1,679

Max offer price $175,000

Occupancy floor 91%

Sensitivity live

Price	-10% $162	-5% $112	+0% $62	+5% $13	+10% $-37
Rent	-10% $-76	-5% $-7	+0% $62	+5% $132	+10% $201
Rate	-1.0pp $151	-0.5pp $107	base $62	+0.5pp $17	+1.0pp $-29

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	15d	1	0.97mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	22d	1	1.24mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	22d	1	1.26mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	15d	1	1.44mi

Listing history 8 events

1. 2026-06-16
   status $175,000 Pending 8 DOM
2. 2026-06-15
   days on market $175,000 Active 8 DOM
3. 2026-06-14
   days on market $175,000 Active 6 DOM
4. 2026-06-13
   days on market $175,000 Active 5 DOM
5. 2026-06-10
   days on market $175,000 Active 3 DOM
6. 2026-06-09
   days on market $175,000 Active 2 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $175,000 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: $4,029 · $336/mo
• Projected year-2 tax: $4,029 · $336/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: $21,097
• − Mortgage interest: −$9,803
• − Property taxes: −$4,029
• − Insurance: −$875
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$5,091
• Taxable loss: −$2,077
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $1,248/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): 30,765
• Household income: $78,574
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 981.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Black 9% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 11% Arabic 1% 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: ▼ -62.46%
• Current HPI: 248.8598
• Rent YoY: ▲ 5.92%
• 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

+45.8% since first listed

3 events — show timeline

• 2026-06-07 Listed $175,000 NWIAR
• 2021-09-03 Sold (MLS) $110,000 NWIAR
• 2021-06-05 Listed $120,000 NWIAR

Property tax history

+0.9%/yr

Latest (2025): $4,029 · +5.4% YoY. Source: county tax records.