6625 Sawgrass Dr · Rockford, IL 61114

$254,900

2 bd · 2.0 ba · 1,741 sqft · Condo · 2 Days on market

Built 2003

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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 +14.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

GORGEOUS RANCH WITH VAULTED CEILINGS AND HARDWOOD FLOORS. Shows light & bright! This home is in EXCELLENT condition. Hardwood floors, all trimwork in pristine condition. Kitchen has beautiful granite counters, up lights on cabinets, white appliances. Vaulted main living room with gas fireplace and beefy wood mantle. Primary bedroom also has vaulted ceilings, large walk-in closet and shower unit. Second bedroom conveniently located right next to 2nd full bath. Lovely 3 season room off kitchen which has two heat vents. Lower level is finished with large rec room (pool table doesn't stay) and plenty of unfinished storage. Very private yard with no maintenance deck and nice garden shed fo

Key facts

• 2 garage spots
• Built 2003
• Listed 2 days

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential condominium
• Construction: Brick construction; Below-grade finished area included
• Exterior features: Shingle roof; Asphalt parking surface

Interior

• Kitchen: Dishwasher; Refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central air conditioning
• Interior features: Walk-in closet(s); Full finished basement; Gas fireplace (1)
• Laundry & utility: Dryer; Water softener

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $76 ($911/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (16.1% below list).
• Recommended offer: $214k (16.1% below list) — sets the bar for 1% rule.

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 leasing fast (median 14d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $8k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $130k; list at $255k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $213,813 (16.1% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.84% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 9.9

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-36,528
• Equity at exit: $38,006

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-25,820
• Equity at exit: $22,039

Cash invested: $71,372 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,138 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$159 /mo · $1,911/yr
• Insurance: −$106
• HOA est. from 1 same-building comp: −$11
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $76

Break-even live

Break-even rent $2,042

Max offer price $254,900

Occupancy floor 91%

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6538 Spring Brook Rd Unit S212 Rockford, IL	2.0	2.5	1960	$2,150	$1.10	44d	1	0.65mi
7273 Mabels Way Loves Park, IL	3.0	1.5	1800	$2,225	$1.24	13d	1	0.92mi
7049 Stearman Dr Loves Park, IL	3.0	2.5	2200	$2,500	$1.14	13d	1	1.17mi
5548 Spring Brook Rd Unit 5548 Rockford, IL	2.0	2.0	1730	$1,650	$0.95	13d	1	1.38mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-10
   status Pending
2. 2026-04-07
   listed $254,900 Active
3. 2003-06-13
   soldstatus $130,000

ⓘ 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: $1,911 · $159/mo
• Projected year-2 tax: $3,849 · $321/mo
• Expected delta: +$1,938/yr (+$161/mo · 101.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $25,658
• − Mortgage interest: −$14,278
• − Property taxes: −$1,911
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − HOA: −$132
• − Depreciation: −$7,415
• Taxable loss: −$3,459
• Est. tax savings @ 24.0%: +$830
• After-tax cash flow: $1,741/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
• 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

+96.1% since first listed

3 events — show timeline

• 2026-04-10 Pending — NWIAR
• 2026-04-07 Listed $254,900 NWIAR
• 2003-06-13 Sold (Public Records) $130,000 Public Records

Property tax history

-4.8%/yr

Latest (2024): $1,911 · -8.7% YoY. Source: county tax records.