2120 Grenshaw St · Rockford, IL 61101

$98,500

2 bd · 1.0 ba · 648 sqft · SingleFamily · 13 Days on market

Built 1945 Est $78k · 27% over

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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 +19.2/30.0
• DSCR +6.0/10.0
• 1% rule +5.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• 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

Previous buyer got cold feet, here is your chance to invest in this lovely single family home features 2 bedrooms, 1 bath, and a spacious 2 car garage. Conveniently located near schools and medical facilities, this charming property is perfect for anyone looking for a peaceful and welcoming environment to call their own. Being sold-as is.

Key facts

• 2 garage spots
• Built 1945
• Listed 13 days

Property features AI

Finance

• Other: Property taxes noted (information available in listing); Directions: Take Auburn St west to N Rockton Ave and turn right heading north. Continue on N. Rockton Ave to Lawndale Ave then turn left, continue on Lawndale Ave to Grenshaw St then turn left.
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story design; Fee simple ownership; Rehab completed in 2025; Built before 1978 (original construction)
• Construction: Wood siding exterior
• Exterior features: Lot dimensions approximately 50 x 133 x 50 x 133; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 11 x 8)
• Bedrooms: 2 bedrooms total; Master bedroom on main level (approx. 11 x 9); Second bedroom on main level (approx. 11 x 8); Additional bedrooms listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Unfinished full basement; Four total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Cap rate 7.6% 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: Conklin Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 433 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: 79 active listings in the ZIP; 19 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $98k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500

Questions for the listing agent

1. Built in 1945 — 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: 1.04% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $77,760
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2120 Grenshaw St	0.00mi	2/1.0	648 (0%)	20mo	$65,000	$100	83
1524 Virginia Ave	0.40mi	2/1.0	672 (+4%)	2mo	$87,000	$129	73
2928 Garfield Dr	0.14mi	2/1.0	599 (-8%)	11mo	$106,000	$177	72
2120 Van Wie Ave	0.53mi	2/1.0	660 (+2%)	2mo	$110,000	$167	70
3307 Parkside Ave	0.51mi	2/1.0	616 (-5%)	21mo	$76,000	$123	51
3121 Montrose Ave	0.23mi	2/2.0	728 (+12%)	22mo	$87,000	$120	46
3324 Parkside Ave	0.57mi	2/1.0	600 (-7%)	18mo	$34,500	$58	46
2326 Belden St	0.48mi	2/1.0	716 (+10%)	21mo	$62,500	$87	43
3416 Blackstone Ave	0.53mi	1/1.0 (-1)	560 (-14%)	13mo	$59,000	$105	37

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-9,211
• Equity at exit: $14,687

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $760
• Equity at exit: $8,516

Cash invested: $27,580 (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 61101

• Home prices YoY: -25.4%
• Active inventory: 79
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$517
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $105

Break-even live

Break-even rent $896

Max offer price $98,500

Occupancy floor 85%

Sensitivity live

Price	-10% $161	-5% $133	+0% $105	+5% $78	+10% $50
Rent	-10% $24	-5% $65	+0% $105	+5% $146	+10% $187
Rate	-1.0pp $155	-0.5pp $131	base $105	+0.5pp $80	+1.0pp $54

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2516 N Rockton Ave #4 Rockford, IL	1.0	1.0	550	$850	$1.55	45d	1	0.41mi
1118 Furman St Unit 1118-15 Rockford, IL	1.0	1.0	650	$995	$1.53	45d	1	0.71mi
1118 Furman St Unit 1118-13 Rockford, IL	1.0	1.0	650	$995	$1.53	22d	1	0.71mi
1904 Auburn St Unit 1904-2 Rockford, IL	1.0	1.0	700	$950	$1.36	46d	1	0.83mi
912 Haskell Ave Unit 912-10 Rockford, IL	1.0	1.0	575	$825	$1.43	22d	1	1.00mi
912 Haskell Ave Unit 912-2 Rockford, IL	1.0	1.0	575	$825	$1.43	15d	1	1.00mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	15d	1	1.05mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,232	$1.45	15d	1	1.08mi
920 N Church St Rockford, IL	2.0	1.0	750	$1,295	$1.73	15d	4	1.22mi
829 N Court St Unit 829-12 Rockford, IL	1.0	1.0	675	$850	$1.26	45d	1	1.22mi
829 N Court St Unit 829-15 Rockford, IL	1.0	1.0	675	$895	$1.33	22d	1	1.22mi
939 N Church St Unit 939-9 Rockford, IL	1.0	1.0	750	$925	$1.23	45d	1	1.26mi
1124 N Main St Unit 3 Rockford, IL	1.0	1.0	415	$855	$2.06	22d	1	1.26mi
929 N Main St Rockford, IL	1.0	1.0	662	$999	$1.51	15d	1	1.33mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	22d	1	1.38mi
3627 N Rockton Ave Unit 3627-106 Rockford, IL	1.0	1.0	650	$995	$1.53	45d	1	1.41mi
3627 N Rockton Ave Unit 3631-203 Rockford, IL	1.0	1.0	650	$1,025	$1.58	15d	1	1.41mi
529 N Main St Rockford, IL	1.0	1.0	562	$950	$1.69	15d	4	1.44mi
2202 Hancock St Unit 2202-3H Rockford, IL	1.0	1.0	550	$875	$1.59	45d	1	1.49mi

Listing history 11 events

1. 2026-06-21
   pricedays on market $98,500 Active 13 DOM
2. 2026-06-19
   days on market $109,995 Active 11 DOM
3. 2026-06-18
   days on market $109,995 Active 10 DOM
4. 2026-06-17
   days on market $109,995 Active 9 DOM
5. 2026-06-16
   days on market $109,995 Active 8 DOM
6. 2026-06-15
   days on market $109,995 Active 7 DOM
7. 2026-06-14
   days on market $109,995 Active 5 DOM
8. 2026-06-13
   days on market $109,995 Active 4 DOM
9. 2026-06-10
   days on market $109,995 Active 2 DOM
10. 2026-06-09
    remarks 366-char remark
11. 2026-06-09
    listed $109,995 Active 1 DOM

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $2,018 · $168/mo
• Expected delta: +$218/yr (+$18/mo · 12.1%)

ⓘ 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: $12,350
• − Mortgage interest: −$5,518
• − Property taxes: −$1,800
• − Insurance: −$492
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$2,865
• Taxable loss: −$301
• Est. tax savings @ 24.0%: +$72
• After-tax cash flow: $1,338/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): 19,318
• Household income: $46,163
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1170.0

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 0.66)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Portuguese 2%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% Other Indo-European 1% 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: ▼ -69.58%
• Current HPI: 204.8946
• 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

+107.5% since first listed

24 events — show timeline

• 2026-06-08 Listed $109,995 MRED as Distributed by MLS Grid
• 2024-10-25 Sold (Public Records) $65,000 Public Records
• 2024-10-10 Sold (MLS) $65,000 NWIAR
• 2024-10-04 Pending — NWIAR
• 2024-10-03 Relisted — NWIAR
• 2024-10-03 Price Changed $75,000 NWIAR
• 2024-09-01 Rental Removed $1,000 APPFOLIO
• 2024-09-01 Pending — NWIAR
• 2024-08-28 Listed for Rent $1,000 APPFOLIO
• 2024-08-27 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-26 Delisted — NWIAR
• 2024-08-20 Price Changed $72,500 NWIAR
• 2024-08-20 Price Changed — MRED as Distributed by MLS Grid
• 2024-08-06 Price Changed $75,000 NWIAR
• 2024-08-06 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-12 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-12 Price Changed $79,000 NWIAR
• 2024-06-13 Relisted — MRED as Distributed by MLS Grid
• 2024-06-13 Relisted — NWIAR
• 2024-06-03 Pending — NWIAR
• 2024-06-03 Pending — MRED as Distributed by MLS Grid
• 2024-05-30 Listed — MRED as Distributed by MLS Grid
• 2024-05-30 Listed $82,000 NWIAR
• 2000-12-20 Sold (Public Records) $53,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,800 · +17.0% YoY. Source: county tax records.