609 Vista Ter · Rockford, IL 61102

$46,000

2 bd · 1.0 ba · 800 sqft · SingleFamily · 64 Days on market

Built 1930 0.25 ac lot $58/sqft · 19% below area Est $57k · 19% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

Key facts

• 0.25 acre lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $43k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.3% 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: 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: 69 active listings in the ZIP; 9 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $318 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $9k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $46k implies a 338% 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 $43,240 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.72% ✓
• Cap rate: 24.31%
• Cash-on-cash: 64.35%
• DSCR: 3.86
• GRM: 3.1

CMA / ARV

• ARV (median comp): $56,541
• List price: $46,000
• Delta: -18.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 Plaisance Ave	0.09mi	2/0.5	686 (-14%)	0mo	$62,000	$90	70
414 Howard Ave	0.52mi	2/1.0	768 (-4%)	4mo	$68,000	$89	65
2312 Anderson St	0.37mi	2/1.0	816 (+2%)	23mo	$104,000	$127	60
402 Vista Ter	0.18mi	2/1.0	866 (+8%)	22mo	$82,000	$95	59
306 N Burbank Ave	0.56mi	3/1.0 (+1)	800 (0%)	12mo	$58,000	$73	59
317 N Horace Ave	0.62mi	2/1.0	715 (-11%)	1mo	$109,000	$152	53
2213 Mulberry St	0.68mi	2/1.0	864 (+8%)	4mo	$42,000	$49	51
2015 Chestnut St	0.66mi	3/1.0 (+1)	830 (+4%)	12mo	$65,000	$78	48
2101 Elm St	0.66mi	2/1.0	864 (+8%)	13mo	$32,000	$37	45
210 Stewart Ave	0.72mi	2/1.0	696 (-13%)	5mo	$107,000	$154	40
203 Webster Ave	0.63mi	2/1.0	864 (+8%)	24mo	$75,000	$87	37

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: 63.5%
• Equity multiple: 3.84×
• Total profit: $36,547
• Equity at exit: $6,859

10-year hold

• IRR: 67.9%
• Equity multiple: 7.87×
• Total profit: $88,502
• Equity at exit: $3,977

Cash invested: $12,880 (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 61102

• Home prices YoY: -33.1%
• Active inventory: 69
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$241
• Tax from tax record: −$38 /mo · $457/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $691

Break-even live

Break-even rent $378

Max offer price $46,000

Occupancy floor 40%

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Lexington Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	13d	1	0.24mi
615 Newport Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	13d	1	0.53mi
3834 Preston St Rockford, IL	3.0	1.0	912	$1,300	$1.43	13d	1	0.55mi
1826 Green St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	21d	1	0.68mi
2305 School St Unit 2305-7 Rockford, IL	2.0	1.0	875	$995	$1.14	43d	1	0.83mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	43d	1	0.93mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	13d	1	1.25mi
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	13d	1	1.45mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	21d	1	1.50mi

Listing history 11 events

1. 2026-04-10
   price $46,000 205-char remark

   Show marketing remark (205 chars)

   SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

2. 2026-04-02
   price $49,000 205-char remark

   Show marketing remark (205 chars)

   SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

3. 2026-03-26
   status Active 205-char remark

   Show marketing remark (205 chars)

   SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

4. 2026-03-19
   status Pending 205-char remark

   Show marketing remark (205 chars)

   SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

5. 2026-03-18
   listed $55,000 Active 205-char remark

   Show marketing remark (205 chars)

   SOLID 2 BEDROOM 1 BATHROOM SINGLE FAMILY HOME. THIS HOME HAS A LOT OF POTENTIAL AND NICE FEATURES TO BE PRESERVED. SOLD AS-IS, VACANT AND EASY TO SHOW. THE AGENT HAS AN INTEREST IN THE PROPERTY BEING SOLD.

6. 2013-08-16
   soldstatus $10,500 Closed Sale 210-char remark

   Show marketing remark (210 chars)

   800 SQ FT 1 STORY BUNGALOW HOME WITH 2 BEDROOMS AND 1 BATH. HAS A DETACHED 1 CAR GARAGE. ENCLOSED FRONT PORCH. HARDWOOD FLOORING IN LIVING ROOM AND BEDROOMS. CLOSE TO PARKS AND DOWNTOWN AREA. "AS IS".

7. 2013-07-25
   status Pending 210-char remark

   Show marketing remark (210 chars)

   800 SQ FT 1 STORY BUNGALOW HOME WITH 2 BEDROOMS AND 1 BATH. HAS A DETACHED 1 CAR GARAGE. ENCLOSED FRONT PORCH. HARDWOOD FLOORING IN LIVING ROOM AND BEDROOMS. CLOSE TO PARKS AND DOWNTOWN AREA. "AS IS".

8. 2013-07-22
   historical 210-char remark

   Show marketing remark (210 chars)

   800 SQ FT 1 STORY BUNGALOW HOME WITH 2 BEDROOMS AND 1 BATH. HAS A DETACHED 1 CAR GARAGE. ENCLOSED FRONT PORCH. HARDWOOD FLOORING IN LIVING ROOM AND BEDROOMS. CLOSE TO PARKS AND DOWNTOWN AREA. "AS IS".

9. 2013-07-03
   price $9,900 Price Change 210-char remark

   Show marketing remark (210 chars)

   800 SQ FT 1 STORY BUNGALOW HOME WITH 2 BEDROOMS AND 1 BATH. HAS A DETACHED 1 CAR GARAGE. ENCLOSED FRONT PORCH. HARDWOOD FLOORING IN LIVING ROOM AND BEDROOMS. CLOSE TO PARKS AND DOWNTOWN AREA. "AS IS".

10. 2013-05-30
    listed $14,900 New 210-char remark

    Show marketing remark (210 chars)

    800 SQ FT 1 STORY BUNGALOW HOME WITH 2 BEDROOMS AND 1 BATH. HAS A DETACHED 1 CAR GARAGE. ENCLOSED FRONT PORCH. HARDWOOD FLOORING IN LIVING ROOM AND BEDROOMS. CLOSE TO PARKS AND DOWNTOWN AREA. "AS IS".

11. 2005-01-18
    soldstatus $20,000

ⓘ 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: $457 · $38/mo
• Projected year-2 tax: $751 · $63/mo
• Expected delta: +$294/yr (+$24/mo · 64.2%)

ⓘ 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: $15,026
• − Mortgage interest: −$2,577
• − Property taxes: −$457
• − Insurance: −$230
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$1,338
• Taxable income: $8,020
• Est. tax owed @ 24.0%: −$1,925
• After-tax cash flow: $6,364/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

• City population: 147,297
• Population (ZIP): 16,620

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 25% Two or more races 15%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Portuguese 2% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 18%

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: ▼ -93.81%
• Current HPI: 189.9634
• 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

+130.0% since first listed

11 events — show timeline

• 2026-04-10 Price Changed $46,000 NWIAR
• 2026-04-02 Price Changed $49,000 NWIAR
• 2026-03-26 Relisted — NWIAR
• 2026-03-19 Pending — NWIAR
• 2026-03-18 Listed $55,000 NWIAR
• 2013-08-16 Sold (MLS) $10,500 MRED as Distributed by MLS Grid
• 2013-07-25 Pending — MRED as Distributed by MLS Grid
• 2013-07-22 Listing Removed — MRED as Distributed by MLS Grid
• 2013-07-03 Price Changed $9,900 MRED as Distributed by MLS Grid
• 2013-05-30 Listed $14,900 MRED as Distributed by MLS Grid
• 2005-01-18 Sold (Public Records) $20,000 Public Records

Property tax history

-3.7%/yr

Latest (2024): $457 · +11.4% YoY. Source: county tax records.