1212 S 5th St · Rockford, IL 61104

$174,900

4 bd · 2.0 ba · — sqft · MultiFamily · 17 Days on market

Built 1900

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +3.1/5.0
• 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

Great investment opportunity. This two unit property has many updates. Including newer roof, new siding, gutters and soffit. Main sewer line was also replaced last year. Plenty of space outdoor with a driveway that has two points of access. Both tenants are on a month to month and would like to stay.

Key facts

• Two unit property
• New siding
• Newer roof

Tags

• INVESTMENT OPPORTUNITY
• TWO UNIT PROPERTY
• NEWER ROOF
• NEW SIDING
• MAIN SEWER LINE REPLACED

Property features AI

Finance

• Financial info: Annual tax: $2,025

Exterior

• Parking: 2 parking spaces
• Home design: Duplex residential income property; 2 stories
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Heating & cooling: Central air conditioning
• Interior features: Refrigerator; Gas water heater; Central air conditioning
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Constance Lane Elementary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 573 students, 0% FRL); Abraham Lincoln Middle School (math 3% / reading 7%, grade F, #636 of 665 statewide, top 98%, 699 students, 0% FRL); Rockford East High School (math 7% / reading 13%, grade F, #528 of 693 statewide, top 82%, 1,718 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 (+9.7%/yr); 67 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $2,182/mo this rent would consume 78% of the median local household income ($34k/yr) (locally 1406% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $7k; list at $175k implies a 2399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,276 (1.5% below list)

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 1900 — 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: 1.25% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.72%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 S 6th St	0.08mi	4/2.0	—	3mo	$128,000	—	81
906 S 5th St	0.24mi	4/2.0	—	1mo	$138,000	—	76
1611 S 4th St	0.31mi	4/2.0	—	2mo	$170,000	—	71
1627 7th St	0.34mi	4/2.0	—	4mo	$115,000	—	68
1323 Broadway	0.43mi	3/2.0 (-1)	—	2mo	$75,000	—	61
1821 7th St	0.47mi	5/2.0 (+1)	—	2mo	$190,000	—	59
1211 4th Ave	0.59mi	4/2.0	—	3mo	$72,000	—	57
2111 S 4th St	0.67mi	4/2.0	—	4mo	$151,000	—	53
1509 16th Ave	0.63mi	5/2.0 (+1)	—	1mo	$203,000	—	52
515 Grove St	0.73mi	4/2.0	—	1mo	$192,000	—	52
1531 12th Ave	0.58mi	4/4.0	—	4mo	$160,000	—	50
1443 8th Ave	0.61mi	4/4.0	1,388	3mo	$219,900	$158	48

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: 10.5%
• Equity multiple: 1.44×
• Total profit: $21,427
• Equity at exit: $26,078

10-year hold

• IRR: 23.2%
• Equity multiple: 3.46×
• Total profit: $120,324
• Equity at exit: $15,122

Cash invested: $48,972 (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 61104

• Home prices YoY: -21.4%
• Rents YoY: 9.7%
• Active inventory: 67
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,182 high
• Mortgage (P&I): −$917
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $601

Break-even live

Break-even rent $1,422

Max offer price $174,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,182
Total (2 units)			$2,182

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	43d	1	0.26mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	43d	1	0.33mi
713 S 4th St Unit Upper Rockford, IL	4.0	2.0	—	$1,500	—	43d	1	0.35mi
344 Buckbee St Rockford, IL	3.0	2.0	—	$1,300	—	43d	1	0.45mi
1209 6th Ave Rockford, IL	3.0	1.0	—	$1,500	—	21d	1	0.46mi
1612 10th St Unit 2 Rockford, IL	3.0	1.0	—	$1,250	—	43d	1	0.55mi
1351 7th Ave Rockford, IL	4.0	2.0	1040	$2,000	$1.92	43d	1	0.55mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	13d	1	0.72mi
507 Oak St Unit 2 Rockford, IL	3.0	2.5	—	$1,250	—	21d	1	0.77mi
222 S 2nd St Unit 224 Rockford, IL	3.0	1.0	—	$1,350	—	21d	1	0.80mi
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	43d	1	0.83mi
512 Market St Unit 512 UPPER Rockford, IL	3.0	1.0	—	$1,750	—	43d	1	0.94mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	21d	1	0.97mi
1229 S Church St Unit 2 Rockford, IL	3.0	1.0	1096	$1,300	$1.19	43d	1	1.01mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	43d	1	1.06mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	1.15mi

Listing history 18 events

1. 2026-06-19
   days on market $174,900 Active 17 DOM
2. 2026-06-18
   days on market $174,900 Active 16 DOM
3. 2026-06-17
   days on market $174,900 Active 15 DOM
4. 2026-06-16
   days on market $174,900 Active 14 DOM
5. 2026-06-15
   status $174,900 Active 13 DOM
6. 2026-06-13
   status $174,900 Pending 13 DOM
7. 2026-06-10
   days on market $174,900 Active 13 DOM
8. 2026-06-09
   days on market $174,900 Active 12 DOM
9. 2026-06-08
   days on market $174,900 Active 11 DOM
10. 2026-06-07
    days on market $174,900 Active 10 DOM
11. 2026-06-03
    days on market $174,900 Active 6 DOM
12. 2026-06-02
    days on market $174,900 Active 5 DOM
13. 2026-06-01
    days on market $174,900 Active 4 DOM
14. 2026-05-31
    days on market $174,900 Active 3 DOM
15. 2026-05-30
    days on market $174,900 Active 2 DOM
16. 2026-05-28
    listed $174,900 Active
17. 2023-05-16
    soldstatus $7,000
18. 1993-08-27
    soldstatus $17,500

ⓘ 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: $1,596 · $133/mo
• Projected year-2 tax: $2,783 · $232/mo
• Expected delta: +$1,187/yr (+$99/mo · 74.3%)

ⓘ 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: $26,184
• − Mortgage interest: −$9,797
• − Property taxes: −$1,596
• − Insurance: −$874
• − Repairs & maintenance: −$2,095
• − Management: −$2,095
• − Depreciation: −$5,088
• Taxable income: $4,638
• Est. tax owed @ 24.0%: −$1,113
• After-tax cash flow: $6,095/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): 17,222
• Household income: $33,772
• Rent vs Own: 62.2% rent · 37.8% own
• Severe rent burden: 1406.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 26% Black 25% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 16% · Canada, South Korea, Philippines
• Languages at home: 74% English-only · Spanish 18% Other Asian/Pacific 3% 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: ▼ -63.40%
• Current HPI: 233.0219
• Rent YoY: ▲ 9.67%
• 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

+899.4% since first listed

3 events — show timeline

• 2026-05-28 Listed $174,900 NWIAR
• 2023-05-16 Sold (Public Records) $7,000 Public Records
• 1993-08-27 Sold (Public Records) $17,500 Public Records

Property tax history

+1.4%/yr

Latest (2024): $1,596 · +3.5% YoY. Source: county tax records.