2802 8th St St · Rockford, IL 61109

$70,000

3 bd · 1.0 ba · 1,075 sqft · SingleFamily · 5 Days on market

Built 1940 6,970 sqft lot Est $121k · 42% 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

Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "ASIS". NO FHA/VA.

Key facts

• Large yard
• Eat-in kitchen
• Private 3rd bedroom

Tags

• EAT-IN KITCHEN
• DETACHED GARAGE
• PRIVATE 3RD BEDROOM
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.4% 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: Riverdahl Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 561 students, 0% FRL); 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: 84 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $70k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.88% ✓
• Cap rate: 14.40%
• Cash-on-cash: 28.96%
• DSCR: 2.29
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $121,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2845 10th St	0.24mi	3/1.0	1,175 (+9%)	8mo	$129,490	$110	67
2834 Hanson St	0.51mi	3/1.0	1,015 (-6%)	8mo	$90,000	$89	60
826 Barnum Rd	0.44mi	3/1.0	989 (-8%)	8mo	$185,000	$187	60
2914 Sewell St	0.68mi	3/1.0	994 (-8%)	1mo	$98,000	$99	55
2710 Hanson St	0.52mi	2/1.0 (-1)	982 (-9%)	8mo	$85,000	$87	50
2219 S 4th St	0.72mi	3/1.0	1,142 (+6%)	8mo	$71,000	$62	50
3211 7th St	0.53mi	2/1.0 (-1)	920 (-14%)	0mo	$114,000	$124	46
3009 Cannon St	0.60mi	2/1.5 (-1)	1,192 (+11%)	2mo	$135,000	$113	46
2706 Marshall St	0.73mi	3/2.0	1,185 (+10%)	1mo	$165,000	$139	45
3000 Hanson St	0.56mi	4/1.5 (+1)	1,217 (+13%)	1mo	$165,000	$136	44
1722 Pershing Ave	0.65mi	2/2.0 (-1)	1,176 (+9%)	8mo	$110,000	$94	38
614 Kennon Rd	0.67mi	2/1.0 (-1)	960 (-11%)	9mo	$115,000	$120	38

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: 23.4%
• Equity multiple: 1.96×
• Total profit: $18,854
• Equity at exit: $10,437

10-year hold

• IRR: 31.3%
• Equity multiple: 3.83×
• Total profit: $55,492
• Equity at exit: $6,052

Cash invested: $19,600 (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 61109

• Home prices YoY: -19.7%
• Active inventory: 84
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$367
• Tax from tax record: −$168 /mo · $2,012/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $473

Break-even live

Break-even rent $714

Max offer price $70,000

Occupancy floor 59%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1418 22nd Ave Rockford, IL	2.0	1.0	950	$1,200	$1.26	44d	1	0.65mi
1209 21st Pl Rockford, IL	2.0	1.0	1040	$1,350	$1.30	44d	1	0.65mi
1420 22nd Ave Rockford, IL	2.0	1.0	950	$1,200	$1.26	44d	1	0.65mi
1211 21st Pl Rockford, IL	2.0	1.0	1040	$1,350	$1.30	44d	1	0.65mi
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	44d	1	0.65mi
914 18th Ave Rockford, IL	2.0	1.0	1123	$900	$0.80	44d	1	0.99mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	13d	1	1.07mi
2208 Christina St Rockford, IL	2.0	1.0	700	$1,300	$1.86	21d	1	1.17mi
810 15th Ave Unit 810-1 Rockford, IL	2.0	1.0	1000	$995	$0.99	44d	1	1.23mi
810 15th Ave Unit 810-3 Rockford, IL	2.0	1.0	1000	$995	$0.99	21d	1	1.23mi
611 15th Ave Unit 2 Rockford, IL	2.0	1.0	806	$1,350	$1.67	44d	1	1.26mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	44d	1	1.46mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $70,000 Pending 5 DOM
2. 2026-06-03
   statusdays on marketlisting id $70,000 Active 1 DOM
3. 2026-03-17
   status Pending
4. 2026-03-12
   price $70,000
5. 2026-02-18
   listed $75,000 Active
6. 2021-06-29
   soldstatus $28,000 Closed Sale 322-char remark

   Show marketing remark (323 chars)

   Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "AS IS". NO FHA/VA.

7. 2021-06-29
   soldstatus $28,000 323-char remark

   Show marketing remark (323 chars)

   Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "AS IS". NO FHA/VA.

8. 2021-06-16
   status Pending 322-char remark

   Show marketing remark (322 chars)

   Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "ASIS". NO FHA/VA.

9. 2021-06-09
   price $37,000 322-char remark

   Show marketing remark (322 chars)

   Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "ASIS". NO FHA/VA.

10. 2021-04-19
    status Reactivated 322-char remark

    Show marketing remark (322 chars)

    Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "ASIS". NO FHA/VA.

11. 2021-04-01
    status Pending 322-char remark

    Show marketing remark (322 chars)

    Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "ASIS". NO FHA/VA.

12. 2021-03-24
    listed $40,000 New 322-char remark

    Show marketing remark (323 chars)

    Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "AS IS". NO FHA/VA.

13. 2021-03-24
    listed $37,000 323-char remark

    Show marketing remark (323 chars)

    Affordable home with lots of potential! Bring your decorating ideas and some elbow grease. Exterior access to two other rooms upstairs. 1 car garage and a large corner lot. Located near shopping, restaurants and easy access to Bypass 20! Great investment property! Home & Appliances Sold "AS IS". NO FHA/VA.

14. 2019-05-13
    historical
15. 2019-01-01
    listed New

ⓘ 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: $2,012 · $168/mo
• Projected year-2 tax: $2,012 · $168/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $15,751
• − Mortgage interest: −$3,921
• − Property taxes: −$2,012
• − Insurance: −$350
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$2,036
• Taxable income: $4,912
• Est. tax owed @ 24.0%: −$1,179
• After-tax cash flow: $4,498/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): 26,768
• Household income: $62,973
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 941.0

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 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 13% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 13% · Canada, Philippines, China
• Languages at home: 79% English-only · Spanish 16% Other Asian/Pacific 2% 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: ▼ -72.42%
• Current HPI: 296.0019
• 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

+89.2% since first listed

13 events — show timeline

• 2026-03-17 Pending — NWIAR
• 2026-03-12 Price Changed $70,000 NWIAR
• 2026-02-18 Listed $75,000 NWIAR
• 2021-06-29 Sold (MLS) $28,000 MRED as Distributed by MLS Grid
• 2021-06-29 Sold (MLS) $28,000 NWIAR
• 2021-06-16 Pending — MRED as Distributed by MLS Grid
• 2021-06-09 Price Changed $37,000 MRED as Distributed by MLS Grid
• 2021-04-19 Relisted — MRED as Distributed by MLS Grid
• 2021-04-01 Pending — MRED as Distributed by MLS Grid
• 2021-03-24 Listed $40,000 MRED as Distributed by MLS Grid
• 2021-03-24 Listed $37,000 NWIAR
• 2019-05-13 Listing Removed — MRED as Distributed by MLS Grid
• 2019-01-01 Listed — MRED as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2024): $2,012 · +3.5% YoY. Source: county tax records.