7716 Creek #2 · Rockford, IL 61114

$145,000

2 bd · 2.0 ba · 1,278 sqft · Condo · 3 Days on market

Built 2000 Fair condition $225/mo HOA · 13% of rent

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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 +18.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in highly desirable location near I-90, dining, entertainment & more. .. this 2 Br, 2 Bath, Upper Unit condo is ready for your cosmetic touches! New carpeting/flooring of your choice would transform this condo into what you've desired! Vaulted ceilings & 2 sets of sliders leading to 2 decks allow for lots of light & outdoor space to enjoy. The primary Br offers a WIC & private full bath w/ marble tile flooring & granite counter. Outside there is a large common greenspace, nearby recreation path & there's no maintenance needed since the HOA handles all the mowing & shoveling. Your water & trash removal are also included in your HOA fee.

Key facts

• Attached garage
• $225 HOA
• Garage

Tags

• HIGHLY DESIRABLE LOCATION
• LARGE COMMON GREENSPACE
• NEARBY RECREATION PATH
• NO MAINTENANCE NEEDED
• FURNACE WATER HEATER 2 YRS OLD
• ATTACHED GARAGE

Property features AI

Finance

• Other: Parcel number on file; Property not currently leased; Ownership: Condo
• HOA & community: Monthly association fee of $225; Association covers water, exterior maintenance, lawn care, snow removal, and other items; Pets allowed (cats and dogs) with size limit (max 20 lbs)

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Asphalt parking; 1 garage space, 1 total parking space
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers
• Home design: Attached single condo; Entry level: 2; Interstate access nearby
• Construction: Built approximately 26–30 years ago; Vinyl siding and stone exterior; Asphalt roof; Part of a 4-unit building
• Exterior features: Deck; Balcony; Common grounds; Cul-de-sac; Level lot

Interior

• Kitchen: Galley kitchen with pantry closet; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level (15 x 13); Second bedroom on main level (11 x 10); Additional bedrooms listed
• Flooring: Carpet in living room and bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Walk-in closets; Open floorplan; Dining area combined with living room; Gas log fireplace in living room; 4 total rooms
• Laundry & utility: In-unit laundry with washer hookup; Washer; Dryer; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 7.5% vs local median 6.1% in Rockford — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Spring Creek Elem School (math 17% / reading 22%, grade F, #1,054 of 2,056 statewide, top 54%, 501 students, 0% FRL); Eisenhower Middle School (math 9% / reading 17%, grade F, #540 of 665 statewide, top 82%, 961 students, 0% FRL); Guilford High School (math 15% / reading 28%, grade F, #345 of 693 statewide, top 50%, 2,071 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: 74 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $1k 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.

Recommended offer $145,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-14,344
• Equity at exit: $21,620

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-249
• Equity at exit: $12,537

Cash invested: $40,600 (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 61114

• Home prices YoY: -27.1%
• Active inventory: 74
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$225
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $141

Break-even live

Break-even rent $1,553

Max offer price $145,000

Occupancy floor 87%

Sensitivity live

Price	-10% $241	-5% $191	+0% $141	+5% $91	+10% $41
Rent	-10% $4	-5% $73	+0% $141	+5% $210	+10% $278
Rate	-1.0pp $214	-0.5pp $178	base $141	+0.5pp $104	+1.0pp $65

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7273 Mabels Way Loves Park, IL	3.0	1.5	1800	$2,225	$1.24	15d	1	0.79mi
7422 Chucks Way Caledonia, IL	2.0	1.0	1029	$1,800	$1.75	45d	1	1.04mi
7494 Thomas Dr Loves Park, IL	2.0	1.0	1029	$1,650	$1.60	15d	1	1.16mi
4112 Applewood Ln Loves Park, IL	1.0	1.0	975	$1,050	$1.08	15d	1	1.19mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: watertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $145,000 Active 3 DOM
2. 2026-06-19
   remarks 667-char remark
3. 2026-06-19
   listed $145,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,783
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$2,700
• − Depreciation: −$4,218
• Taxable loss: −$483
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $1,809/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

The property is in fair condition with some cosmetic repairs and maintenance needed. A touch-up of the exterior paint and trimming of the landscaping would significantly improve its curb appeal and value.

Repairs flagged

• Minor Paint touch-up — Paint on exterior appears faded in some areas, indicating the need for touch-up or repainting.
• Minor Landscaping trimming — Landscaping includes a fence and some plants, but appears somewhat unkempt and could benefit from trimming and maintenance.

Value-add opportunities

• Both Paint touch-up and landscaping trimming — Paint touch-up and landscaping trimming will improve the curb appeal and overall condition of the property, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint touch-up · Paint on exterior appears faded in some areas, indicating the need for touch-up or repainting.	Minor	$500–3,000
Landscaping trimming · Landscaping includes a fence and some plants, but appears somewhat unkempt and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint touch-up and landscaping trimming — Paint touch-up and landscaping trimming will improve the curb appeal and overall condition of the property, making it more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 15,026

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Black 10% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -84.00%
• Current HPI: 225.8485
• 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

1 event — show timeline

• 2026-06-18 Listed $145,000 MRED as Distributed by MLS Grid