1308 Montague St · Rockford, IL 61102

$140,000

6 bd · 7.0 ba · — sqft · MultiFamily · 4 Days on market

Built 1920

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Come see this spacious duplex that could be a great investment opportunity for an investor or a live-in owner. First floor has large eat in kitchen with flexible living/dining room combination, updated bath, 2 bedrooms and an additional half bath. Upstairs features updated bathroom with 1 bedroom, living room and large eat in kitchen. New back deck stairs as well as a new boiler in '25. Water heater '21.

Key facts

• New boiler
• Updated bath
• Eat in kitchen

Tags

• EAT IN KITCHEN
• UPDATED BATH
• NEW BACK DECK STAIRS
• NEW BOILER
• WATER HEATER

Property features AI

Finance

• Financial info: Annual tax amount approximately $1,900

Exterior

• Parking: 2 parking spaces
• Home design: Duplex residential income property; 2-story
• Construction: Brick construction
• Exterior features: Shingle roof

Interior

• Interior features: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.5-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 15.9% 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: Rockford Envrnmntl Science Acad (math 0% / reading 7%, grade F, #652 of 665 statewide, top 98%, 1,051 students, 0% FRL); Jefferson High School (math 3% / reading 9%, grade F, #608 of 693 statewide, top 88%, 2,114 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: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $968 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 + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.86% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.31%
• DSCR: 2.53
• GRM: 4.5

CMA / ARV

No comps found within radius.

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1244 Rose Ave	0.15mi	6/2.0	—	17mo	$108,000	—	47
1250 Corbin St	0.32mi	5/2.0 (-1)	—	11mo	$120,000	—	44
1103 West St	0.50mi	5/3.0 (-1)	—	6mo	$88,500	—	39
1113 Ferguson St	0.43mi	5/2.0 (-1)	—	20mo	$90,000	—	31
1118 S Winnebago St	0.58mi	7/3.0 (+1)	—	14mo	$80,000	—	29
518 Montague St	0.56mi	5/2.0 (-1)	—	16mo	$76,000	—	28
827 Ferguson St	0.57mi	6/2.0	—	18mo	$68,000	—	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 2.24×
• Total profit: $48,729
• Equity at exit: $20,874

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $134,454
• Equity at exit: $12,105

Cash invested: $39,200 (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: 71
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,609 high
• Mortgage (P&I): −$734
• Tax from tax record: −$148 /mo · $1,772/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $1,121

Break-even live

Break-even rent $1,190

Max offer price $140,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,200	-5% $1,161	+0% $1,121	+5% $1,081	+10% $1,042
Rent	-10% $915	-5% $1,018	+0% $1,121	+5% $1,224	+10% $1,327
Rate	-1.0pp $1,191	-0.5pp $1,157	base $1,121	+0.5pp $1,085	+1.0pp $1,048

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3.5	$2,608
Total (2 units)			$2,609

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Irving Ave Rockford, IL	5.0	1.0	1202	$1,850	$1.54	45d	1	1.28mi

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $140,000 Active

ⓘ 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: $1,772 · $148/mo
• Projected year-2 tax: $2,475 · $206/mo
• Expected delta: +$703/yr (+$59/mo · 39.7%)

ⓘ 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: $31,308
• − Mortgage interest: −$7,842
• − Property taxes: −$1,772
• − Insurance: −$700
• − Repairs & maintenance: −$2,505
• − Management: −$2,505
• − Depreciation: −$4,073
• Taxable income: $11,912
• Est. tax owed @ 24.0%: −$2,859
• After-tax cash flow: $10,592/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
• 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

2 events — show timeline

• 2026-04-28 Pending — NWIAR
• 2026-04-24 Listed $140,000 NWIAR

Property tax history

+0.4%/yr

Latest (2024): $1,772 · +8.2% YoY. Source: county tax records.