928 North Ave · Rockford, IL 61103

$149,900

4 bd · 1.0 ba · 1,482 sqft · SingleFamily · 24 Days on market

Built 1920 6,098 sqft lot $101/sqft · 35% above area Est $111k · 35% over

---

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 +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +5.2/10.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

Key facts

• 6,098 sq ft lot
• Built 1920
• Listed 24 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Haskell Elementary School (math 12% / reading 22%, grade F, #1,141 of 2,056 statewide, top 59%, 278 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 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: Rents rising fast (+8.1%/yr); 105 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 ($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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 $62k; list at $150k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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?
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: 1.02% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (median comp): $110,720
• List price: $149,900
• Delta: 35.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
928 North Ave	0.00mi	4/1.0	1,482 (0%)	1mo	$149,900	$101	99
928 North Ave	0.00mi	4/1.0	1,482 (0%)	1mo	$149,900	$101	99
1025 Grant Ave	0.14mi	4/1.5	1,680 (+13%)	1mo	$163,000	$97	69
1428 North Ave	0.34mi	3/2.0 (-1)	1,435 (-3%)	1mo	$115,000	$80	69
529 Summer St	0.27mi	4/1.5	1,344 (-9%)	4mo	$130,000	$97	67
1512 Price St	0.37mi	3/1.5 (-1)	1,392 (-6%)	0mo	$145,000	$104	65
1015 N Winnebago St	0.19mi	5/2.0 (+1)	1,337 (-10%)	1mo	$99,900	$75	65
1027 Grant Ave	0.14mi	4/2.0	1,700 (+15%)	0mo	$177,000	$104	64
1619 Grant Ave	0.52mi	3/1.5 (-1)	1,456 (-2%)	5mo	$158,000	$109	62
1512 N Rockton Ave N	0.53mi	3/1.5 (-1)	1,549 (+4%)	3mo	$160,000	$103	59
1520 Grant Ave	0.44mi	3/1.0 (-1)	1,658 (+12%)	3mo	$102,000	$62	52
2031 Ridge Ave	0.74mi	3/1.5 (-1)	1,270 (-14%)	0mo	$175,000	$138	34

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-3,091
• Equity at exit: $22,351

10-year hold

• IRR: 12.5%
• Equity multiple: 2.22×
• Total profit: $51,004
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,530 high
• Mortgage (P&I): −$786
• Tax from tax record: −$154 /mo · $1,852/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $206

Break-even live

Break-even rent $1,269

Max offer price $149,900

Occupancy floor 82%

Sensitivity live

Price	-10% $291	-5% $248	+0% $206	+5% $163	+10% $121
Rent	-10% $85	-5% $145	+0% $206	+5% $266	+10% $327
Rate	-1.0pp $281	-0.5pp $244	base $206	+0.5pp $167	+1.0pp $127

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 N Winnebago St Rockford, IL	4.0	1.0	1250	$1,600	$1.28	15d	1	0.33mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	15d	1	0.74mi
1146 Fairview Ave Rockford, IL	4.0	1.5	1344	$1,250	$0.93	23d	1	0.94mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	0.98mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	45d	1	1.04mi
303 Forest Ave Rockford, IL	4.0	1.0	1568	$1,800	$1.15	45d	1	1.07mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	15d	1	1.19mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	45d	1	1.26mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	15d	1	1.28mi
210 Irving Ave Rockford, IL	5.0	1.0	1202	$1,850	$1.54	45d	1	1.30mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	1.33mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	45d	1	1.33mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	1.33mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	23d	1	1.33mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	45d	1	1.35mi
207 N Central Ave Rockford, IL	4.0	1.5	1296	$1,500	$1.16	15d	1	1.40mi

Listing history 18 events

1. 2026-05-04
   status Pending 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

2. 2026-05-04
   status Pending 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

3. 2026-04-26
   status Active 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

4. 2026-04-26
   status Active 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

5. 2026-04-22
   status Pending 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

6. 2026-04-22
   status Pending 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

7. 2026-04-20
   price $149,900 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

8. 2026-04-20
   price $149,900 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

9. 2026-04-07
   listed $155,000 Active 293-char remark

   Show marketing remark (293 chars)

   All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

10. 2026-04-07
    listed $155,000 Active 293-char remark

    Show marketing remark (293 chars)

    All original woodwork and hardwood floors give this 2 story old work charm. Big foyer with open stairway leading to 4 bedrooms on upper level. All new windows, freshly painted. Kitchen boasts of new counter-tops and stainless steel appliances. Back door lead to large new deck and fenced yard.

11. 2025-12-29
    soldstatus $62,000
12. 2025-12-19
    soldstatus $62,000 Closed
13. 2025-12-12
    historical Contingent - Continue to Show
14. 2025-12-11
    status Active
15. 2025-11-13
    historical Contingent - Continue to Show
16. 2025-10-31
    listed $51,900 Active
17. 2006-01-30
    soldstatus $54,000
18. 2002-01-21
    soldstatus $30,000

ⓘ 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: $1,852 · $154/mo
• Projected year-2 tax: $2,627 · $219/mo
• Expected delta: +$776/yr (+$65/mo · 41.9%)

ⓘ 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 ≥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: $18,360
• − Mortgage interest: −$8,397
• − Property taxes: −$1,852
• − Insurance: −$750
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$4,361
• Taxable income: $64
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $2,455/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

+399.7% since first listed

18 events — show timeline

• 2026-05-04 Pending — NWIAR
• 2026-05-04 Pending — MRED as Distributed by MLS Grid
• 2026-04-26 Relisted — NWIAR
• 2026-04-26 Relisted — MRED as Distributed by MLS Grid
• 2026-04-22 Pending — NWIAR
• 2026-04-22 Pending — MRED as Distributed by MLS Grid
• 2026-04-20 Price Changed $149,900 MRED as Distributed by MLS Grid
• 2026-04-20 Price Changed $149,900 NWIAR
• 2026-04-07 Listed $155,000 NWIAR
• 2026-04-07 Listed $155,000 MRED as Distributed by MLS Grid
• 2025-12-29 Sold (Public Records) $62,000 Public Records
• 2025-12-19 Sold (MLS) $62,000 MRED as Distributed by MLS Grid
• 2025-12-12 Contingent — MRED as Distributed by MLS Grid
• 2025-12-11 Relisted — MRED as Distributed by MLS Grid
• 2025-11-13 Contingent — MRED as Distributed by MLS Grid
• 2025-10-31 Listed $51,900 MRED as Distributed by MLS Grid
• 2006-01-30 Sold (Public Records) $54,000 Public Records
• 2002-01-21 Sold (Public Records) $30,000 Public Records

Property tax history

+2.1%/yr

Latest (2024): $1,852 · +3.5% YoY. Source: county tax records.