2412 Midway Dr · Rockford, IL 61103

$105,000

3 bd · 1.0 ba · 1,247 sqft · SingleFamily · 6 Days on market

Built 1949 6,970 sqft lot Est $160k · 34% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.9/10.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1.5-story Cape Cod with versatility and potential. Main level features hardwood floors in the living areas, two bedrooms, and a full bath. An open kitchen connects to the main living space for easy everyday flow. The upper level offers a comfortable third bedroom. Full basement includes a large open room with potential to finish for additional living space. Enjoy a front deck for relaxing, a fully fenced backyard, and a detached 1-car garage. Bring your ideas and make it your own—great opportunity in a convenient Rockford location close to daily amenities.

Key facts

• Front deck
• Full basement
• Hardwood floors

Tags

• HARDWOOD FLOORS
• OPEN KITCHEN
• FULL BASEMENT
• FRONT DECK
• FULLY FENCED BACKYARD
• DETACHED GARAGE

Property features AI

Finance

• Other: Property located in Rockford corporate limits; directions listed as 2412 Midway Drive, Rockford, IL 61103
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Assessor-sourced living area; Natural gas; Forced air
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Built before 1978
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 51 x 51 x 135.89 x 135.89; Lot less than 0.25 acre; School bus service available

Interior

• Kitchen: Kitchen on main level (13 x 9)
• Bedrooms: 3 bedrooms (Master on main, additional bedroom on main, one bedroom on second floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: 5 total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 9.3% 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: 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: West View Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 420 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 students, 0% FRL); Auburn High School (math 26% / reading 32%, grade F, #210 of 693 statewide, top 30%, 1,936 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: Rents rising fast (+8.1%/yr); 105 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/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 $726 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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 $72k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1949 — 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: 1.29% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $159,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2328 Pierce Ave	0.13mi	3/2.0	1,187 (-5%)	4mo	$129,000	$109	78
2612 Glenwood Ave	0.29mi	3/1.0	1,166 (-6%)	6mo	$143,000	$123	70
2028 Pierce Ave	0.28mi	3/1.0	1,091 (-12%)	7mo	$143,000	$131	60
2031 Ridge Ave	0.74mi	3/1.5	1,270 (+2%)	0mo	$175,000	$138	60
2707 Ridge Ave	0.37mi	4/1.0 (+1)	1,117 (-10%)	2mo	$125,000	$112	58
3507 Packard Pkwy	0.63mi	3/2.0	1,196 (-4%)	2mo	$176,000	$147	58
2616 Karen Dr	0.63mi	3/2.0	1,180 (-5%)	1mo	$205,000	$174	57
2917 Lawndale Ave	0.73mi	3/1.0	1,178 (-6%)	1mo	$81,000	$69	55
2728 Lawndale Ave	0.70mi	3/1.0	1,176 (-6%)	5mo	$110,000	$94	54
1630 Jonathan Ave	0.59mi	3/1.0	1,352 (+8%)	6mo	$219,000	$162	54
1507 Barton Blvd	0.66mi	3/1.0	1,334 (+7%)	6mo	$139,900	$105	52
3415 Huffman Blvd	0.64mi	3/2.0	1,428 (+14%)	4mo	$183,000	$128	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.23×
• Total profit: $6,680
• Equity at exit: $15,656

10-year hold

• IRR: 19.3%
• Equity multiple: 3.04×
• Total profit: $59,833
• Equity at exit: $9,078

Cash invested: $29,400 (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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 105
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,351 high
• Mortgage (P&I): −$551
• Tax from tax record: −$214 /mo · $2,572/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $259

Break-even live

Break-even rent $1,024

Max offer price $105,000

Occupancy floor 76%

Sensitivity live

Price	-10% $318	-5% $289	+0% $259	+5% $229	+10% $199
Rent	-10% $152	-5% $205	+0% $259	+5% $312	+10% $366
Rate	-1.0pp $312	-0.5pp $285	base $259	+0.5pp $232	+1.0pp $204

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	45d	1	0.30mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.30mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.41mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	22d	1	0.41mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	15d	1	0.42mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	45d	1	0.49mi
3936 Eagle Dr Rockford, IL	1.0–2.0	1.0	712	$999	$1.40	15d	1	0.79mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	15d	1	0.85mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	45d	1	0.98mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	1.02mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	45d	1	1.08mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	45d	1	1.09mi
3311 Sun Valley Ter Unit 3311-8 Rockford, IL	2.0	1.0	850	$995	$1.17	45d	1	1.09mi
3303 Sun Valley Ter Unit 3303-11 Rockford, IL	2.0	1.0	850	$950	$1.12	22d	1	1.11mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	45d	1	1.21mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	15d	1	1.21mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	45d	1	1.22mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	45d	1	1.23mi
1401 N Court St Rockford, IL	2.0	1.0	850	$950	$1.12	45d	1	1.36mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	15d	1	1.42mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	22d	1	1.49mi

Listing history 19 events

1. 2026-06-21
   statusdays on marketlisting id $105,000 Active 6 DOM
2. 2026-05-21
   status Pending 577-char remark

   Show marketing remark (577 chars)

   Charming 1.5-story Cape Cod with versatility and potential. Main level features hardwood floors in the living areas, two bedrooms, and a full bath. An open kitchen connects to the main living space for easy everyday flow. The upper level offers a comfortable third bedroom. Full basement includes a large open room with potential to finish for additional living space. Enjoy a front deck for relaxing, a fully fenced backyard, and a detached 1-car garage. Bring your ideas and make it your own—great opportunity in a convenient Rockford location close to daily amenities.

3. 2026-05-21
   status Pending

   Show marketing remark (577 chars)

   Charming 1.5-story Cape Cod with versatility and potential. Main level features hardwood floors in the living areas, two bedrooms, and a full bath. An open kitchen connects to the main living space for easy everyday flow. The upper level offers a comfortable third bedroom. Full basement includes a large open room with potential to finish for additional living space. Enjoy a front deck for relaxing, a fully fenced backyard, and a detached 1-car garage. Bring your ideas and make it your own—great opportunity in a convenient Rockford location close to daily amenities.

4. 2026-05-18
   listed $105,000 Active
5. 2026-05-17
   listed $105,000 Active 577-char remark

   Show marketing remark (577 chars)

   Charming 1.5-story Cape Cod with versatility and potential. Main level features hardwood floors in the living areas, two bedrooms, and a full bath. An open kitchen connects to the main living space for easy everyday flow. The upper level offers a comfortable third bedroom. Full basement includes a large open room with potential to finish for additional living space. Enjoy a front deck for relaxing, a fully fenced backyard, and a detached 1-car garage. Bring your ideas and make it your own—great opportunity in a convenient Rockford location close to daily amenities.

6. 2023-01-31
   soldstatus $72,000 Closed 307-char remark

   Show marketing remark (307 chars)

   Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

7. 2023-01-31
   soldstatus $72,000 Closed

   Show marketing remark (307 chars)

   Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

8. 2023-01-23
   status Pending

   Show marketing remark (307 chars)

   Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

9. 2023-01-23
   status Pending 307-char remark

   Show marketing remark (307 chars)

   Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

10. 2023-01-06
    status Active 307-char remark

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

11. 2023-01-06
    status Active

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

12. 2022-12-28
    status Pending

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

13. 2022-12-28
    status Pending 307-char remark

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

14. 2022-12-22
    price $79,000

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

15. 2022-12-22
    price $79,000 307-char remark

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

16. 2022-12-13
    listed $84,000 Active 307-char remark

    Show marketing remark (307 chars)

    Welcome home! Excellent starter home or investment property. Large living room and kitchen with eat-in area. Two bedrooms and a full bathroom complete the main floor. Third bedroom upstairs with walk-in closet. Freshly painted and new blinds throughout. Water heater replaced in 2019. Fully fenced backyard.

17. 2022-12-12
    historical
18. 2022-11-28
    listed $84,000 Active
19. 2022-11-28
    listed 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: $2,572 · $214/mo
• Projected year-2 tax: $2,572 · $214/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 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: $16,215
• − Mortgage interest: −$5,882
• − Property taxes: −$2,572
• − Insurance: −$525
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$3,055
• Taxable income: $1,588
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $2,724/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): 22,869
• Household income: $51,161
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1402.0

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 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 13% Hispanic / Latino 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -81.02%
• Current HPI: 215.8559
• Rent YoY: ▲ 8.11%
• 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

+25.0% since first listed

18 events — show timeline

• 2026-05-21 Pending — NWIAR
• 2026-05-21 Pending — MRED as Distributed by MLS Grid
• 2026-05-18 Listed $105,000 MRED as Distributed by MLS Grid
• 2026-05-17 Listed $105,000 NWIAR
• 2023-01-31 Sold (MLS) $72,000 NWIAR
• 2023-01-31 Sold (MLS) $72,000 MRED as Distributed by MLS Grid
• 2023-01-23 Pending — NWIAR
• 2023-01-23 Pending — MRED as Distributed by MLS Grid
• 2023-01-06 Relisted — MRED as Distributed by MLS Grid
• 2023-01-06 Relisted — NWIAR
• 2022-12-28 Pending — NWIAR
• 2022-12-28 Pending — MRED as Distributed by MLS Grid
• 2022-12-22 Price Changed $79,000 NWIAR
• 2022-12-22 Price Changed $79,000 MRED as Distributed by MLS Grid
• 2022-12-13 Listed $84,000 MRED as Distributed by MLS Grid
• 2022-12-12 Listing Removed — MRED as Distributed by MLS Grid
• 2022-11-28 Listed $84,000 NWIAR
• 2022-11-28 Listed — MRED as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2024): $2,572 · +3.5% YoY. Source: county tax records.