3311 Hanover Dr · Rockford, IL 61101

$125,000

3 bd · 1.0 ba · 936 sqft · SingleFamily · 3 Days on market

Built 1961 7,840 sqft lot Est $124k · at est.

---

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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.3/15.0
• 1% rule +6.0/10.0
• 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

Charming 3 bedroom ranch offering comfortable single level living. This home features a functional layout with three bedrooms, one full bath, and a 1 car attached garage for added convenience. Enjoy outdoor living in the fully fenced backyard complete with a firepit. A screened porch off the back provides a great space to unwind while enjoying fresh air. Additional storage is available with a backyard shed. Come see this one before it is sold!

Key facts

• Firepit
• Screened porch
• Backyard shed

Tags

• FULLY FENCED BACKYARD
• FIREPIT
• SCREENED PORCH
• BACKYARD SHED

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 $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.8% 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: 76 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($46k/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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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 $95k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1961 — 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: 1.10% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $124,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3311 Hanover Dr	0.00mi	3/1.0	936 (0%)	1mo	$135,000	$144	99
3130 Hazel St	0.43mi	3/1.0	990 (+6%)	3mo	$91,500	$92	68
2011 Overdene Ave	0.56mi	3/1.0	875 (-6%)	1mo	$132,000	$151	62
2011 Overdene Ave	0.56mi	3/1.0	875 (-6%)	1mo	$132,000	$151	62
2724 Prial Ave	0.40mi	2/1.0 (-1)	1,036 (+11%)	4mo	$100,000	$97	56
1803 Ridgeland (sbr) Rd	0.71mi	3/1.0	1,004 (+7%)	1mo	$49,000	$49	54
1810 Midway Dr	0.61mi	2/2.0 (-1)	924 (-1%)	9mo	$89,000	$96	53
2404 Glenwood Ave	0.55mi	2/1.0 (-1)	1,037 (+11%)	5mo	$110,000	$106	48
2912 Huffman Blvd	0.70mi	3/1.0	863 (-8%)	10mo	$114,900	$133	46
2818 Coleman Ave	0.60mi	3/1.0	1,048 (+12%)	8mo	$139,900	$133	45
1720 Paradise Blvd	0.65mi	2/1.0 (-1)	858 (-8%)	8mo	$115,000	$134	44
1620 Pierce Ave	0.71mi	2/1.0 (-1)	857 (-8%)	6mo	$100,000	$117	43

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,948
• Equity at exit: $18,638

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $17,554
• Equity at exit: $10,808

Cash invested: $35,000 (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 61101

• Home prices YoY: -25.4%
• Active inventory: 76
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$656
• Tax from tax record: −$119 /mo · $1,428/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $256

Break-even live

Break-even rent $1,046

Max offer price $125,000

Occupancy floor 76%

Sensitivity live

Price	-10% $327	-5% $291	+0% $256	+5% $221	+10% $185
Rent	-10% $148	-5% $202	+0% $256	+5% $310	+10% $364
Rate	-1.0pp $319	-0.5pp $288	base $256	+0.5pp $224	+1.0pp $191

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	14d	1	0.11mi
3936 Eagle Dr Rockford, IL	1.0–2.0	1.0	712	$999	$1.40	14d	1	0.58mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	44d	1	0.59mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	14d	1	0.59mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	22d	1	0.67mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	14d	1	0.67mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	14d	1	0.98mi
3311 Sun Valley Ter Unit 3311-8 Rockford, IL	2.0	1.0	850	$995	$1.17	44d	1	1.20mi
3303 Sun Valley Ter Unit 3303-11 Rockford, IL	2.0	1.0	850	$950	$1.12	22d	1	1.21mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	14d	1	1.31mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	44d	1	1.33mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	44d	1	1.37mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	14d	1	1.43mi

Listing history 14 events

1. 2026-04-20
   status Pending

   Show marketing remark (447 chars)

   Charming 3 bedroom ranch offering comfortable single level living. This home features a functional layout with three bedrooms, one full bath, and a 1 car attached garage for added convenience. Enjoy outdoor living in the fully fenced backyard complete with a firepit. A screened porch off the back provides a great space to unwind while enjoying fresh air. Additional storage is available with a backyard shed. Come see this one before it is sold!

2. 2026-04-20
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Charming 3 bedroom ranch offering comfortable single level living. This home features a functional layout with three bedrooms, one full bath, and a 1 car attached garage for added convenience. Enjoy outdoor living in the fully fenced backyard complete with a firepit. A screened porch off the back provides a great space to unwind while enjoying fresh air. Additional storage is available with a backyard shed. Come see this one before it is sold!

3. 2026-04-17
   listed $125,000 Active

   Show marketing remark (447 chars)

   Charming 3 bedroom ranch offering comfortable single level living. This home features a functional layout with three bedrooms, one full bath, and a 1 car attached garage for added convenience. Enjoy outdoor living in the fully fenced backyard complete with a firepit. A screened porch off the back provides a great space to unwind while enjoying fresh air. Additional storage is available with a backyard shed. Come see this one before it is sold!

4. 2026-04-17
   listed $125,000 Active 447-char remark

   Show marketing remark (447 chars)

   Charming 3 bedroom ranch offering comfortable single level living. This home features a functional layout with three bedrooms, one full bath, and a 1 car attached garage for added convenience. Enjoy outdoor living in the fully fenced backyard complete with a firepit. A screened porch off the back provides a great space to unwind while enjoying fresh air. Additional storage is available with a backyard shed. Come see this one before it is sold!

5. 2022-12-19
   soldstatus $95,000
6. 2022-12-15
   soldstatus $95,000 Closed 400-char remark

   Show marketing remark (400 chars)

   WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

7. 2022-12-15
   soldstatus $95,000 Closed

   Show marketing remark (400 chars)

   WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

8. 2022-11-17
   status Pending

   Show marketing remark (400 chars)

   WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

9. 2022-11-17
   status Pending 400-char remark

   Show marketing remark (400 chars)

   WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

10. 2022-11-14
    listed $89,900 Active 400-char remark

    Show marketing remark (400 chars)

    WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

11. 2022-11-14
    listed $89,900 Active

    Show marketing remark (400 chars)

    WOW!!!! Mint condition. Ranch 3 BED 1 FULL BATH w ATTACHED Garage. Fresh Paint, Newer Flooring, and Large and UPDATED Kitchen w canned lighting and plenty of counter space. ! GORGEOUS STAINLESS STEEL APPLIANCES STAY!!!! DRY BASEMENT!!! DRAIN TILE 2017. Basement has additional bonus/ rec room. Fenced in yard! New Furnace and Central Air 2017 NEW ROOF 2017. Additional details available upon request.

12. 2004-03-02
    soldstatus $65,000
13. 1994-06-15
    soldstatus $51,000
14. 1994-06-15
    soldstatus $51,000

ⓘ 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: $1,428 · $119/mo
• Projected year-2 tax: $2,133 · $178/mo
• Expected delta: +$705/yr (+$59/mo · 49.4%)

ⓘ 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 3/10 Moderate 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: $16,446
• − Mortgage interest: −$7,002
• − Property taxes: −$1,428
• − Insurance: −$625
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$3,636
• Taxable income: $1,123
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $2,803/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): 19,318
• Household income: $46,163
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1170.0

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 0.66)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Portuguese 2%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% Other Indo-European 1% 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: ▼ -69.58%
• Current HPI: 204.8946
• Rent YoY: —
• 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

+145.1% since first listed

14 events — show timeline

• 2026-04-20 Pending — MRED as Distributed by MLS Grid
• 2026-04-20 Pending — NWIAR
• 2026-04-17 Listed $125,000 NWIAR
• 2026-04-17 Listed $125,000 MRED as Distributed by MLS Grid
• 2022-12-19 Sold (Public Records) $95,000 Public Records
• 2022-12-15 Sold (MLS) $95,000 MRED as Distributed by MLS Grid
• 2022-12-15 Sold (MLS) $95,000 NWIAR
• 2022-11-17 Pending — MRED as Distributed by MLS Grid
• 2022-11-17 Pending — NWIAR
• 2022-11-14 Listed $89,900 MRED as Distributed by MLS Grid
• 2022-11-14 Listed $89,900 NWIAR
• 2004-03-02 Sold (Public Records) $65,000 Public Records
• 1994-06-15 Sold (Public Records) $51,000 Public Records
• 1994-06-15 Sold (Public Records) $51,000 Public Records

Property tax history

-2.0%/yr

Latest (2024): $1,428 · +16.5% YoY. Source: county tax records.