2226 Latham St · Rockford, IL 61103

$155,000

3 bd · 2.0 ba · 1,434 sqft · SingleFamily public records · 2 Days on market

Built 1922 4,792 sqft lot Est $132k · 17% 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 +15.9/30.0
• DSCR +4.9/10.0
• Rent growth +4.5/5.0
• 1% rule +4.4/10.0
• 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

Step into the timeless charm of this character-filled 3-bedroom, 2-bath home, where historic appeal and everyday comfort come together beautifully. Rich woodwork, built-in bookcases and cabinetry, and distinctive architectural details showcase the timeless craftsmanship found throughout. The spacious main level offers inviting living and dining areas centered around a charming fireplace, creating warm and welcoming spaces for both everyday living and entertaining. Thoughtfully designed built-ins add character and functionality, while abundant windows fill the home with natural light. Upstairs, you'll find all three bedrooms along with a full bathroom, providing a practical and comfortable layout. An additional full bathroom is located on the lower level in the laundry area. Outside, you have a fully fenced back yard and a unique wooden swing set to set the vibe for privacy and relaxation. The inviting porch area offers the perfect place to relax and enjoy the neighborhood while adding to the home's classic curb appeal. Move-in ready while preserving its original character, this home presents a rare opportunity to own a property filled with warmth, character, and craftsmanship that simply can't be replicated today. Recently updated laminate flooring and AC unit in 2024. Roof 2018. Property is being sold as-is. Professional photos coming soon!

Key facts

• Built-in bookcases
• Abundant windows
• Charming fireplace

Tags

• RICH WOODWORK
• BUILT-IN BOOKCASES
• INVITING LIVING AREAS
• CHARMING FIREPLACE
• ABUNDANT WINDOWS
• FULLY FENCED BACK YARD

Property features AI

Exterior

• Parking: Detached garage (1.5 spaces)
• Utilities: Public water; Public sewer
• Home design: Single family residence (house); 2 stories
• Exterior features: Shingle roof; 0.11 acre lot

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas fireplace (2 total); Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $73 ($875/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 $146k (6.1% below list).
• Recommended offer: $146k (6.1% 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: R K Welsh Elem School (math 7% / reading 7%, grade F, #1,719 of 2,056 statewide, top 84%, 435 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; 23 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 34% 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 $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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $84k; list at $155k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,554 (6.1% below list)

Questions for the listing agent

1. Built in 1922 — 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: 0.94% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $131,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1617 Custer Ave	0.21mi	2/1.0 (-1)	1,463 (+2%)	1mo	$135,000	$92	77
915 Van Wie Ave	0.33mi	3/2.5	1,480 (+3%)	2mo	$98,000	$66	75
1428 North Ave	0.66mi	3/2.0	1,435 (+0%)	1mo	$115,000	$80	68
2122 N Church St	0.11mi	2/1.0 (-1)	1,286 (-10%)	3mo	$155,000	$121	67
1512 Price St	0.64mi	3/1.5	1,392 (-3%)	0mo	$145,000	$104	63
2216 Cumberland St	0.66mi	3/2.0	1,528 (+7%)	1mo	$220,000	$144	58
2031 Ridge Ave	0.50mi	3/1.5	1,270 (-11%)	0mo	$175,000	$138	55
2310 N Winnebago St	0.64mi	3/1.5	1,542 (+8%)	2mo	$140,000	$91	54
2310 N Winnebago Ave	0.64mi	3/1.5	1,542 (+8%)	2mo	$140,000	$91	54
318 Logan St	0.74mi	4/1.0 (+1)	1,384 (-4%)	2mo	$158,000	$114	49
3016 Latham St	0.62mi	3/1.0	1,589 (+11%)	1mo	$135,000	$85	49
2315 Lawndale Ave	0.68mi	4/1.5 (+1)	1,619 (+13%)	2mo	$120,000	$74	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: -7.6%
• Equity multiple: 0.71×
• Total profit: $-12,754
• Equity at exit: $23,111

10-year hold

• IRR: 7.5%
• Equity multiple: 1.69×
• Total profit: $29,990
• Equity at exit: $13,402

Cash invested: $43,400 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,456 high
• Mortgage (P&I): −$813
• Tax from tax record: −$200 /mo · $2,394/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $73

Break-even live

Break-even rent $1,363

Max offer price $155,000

Occupancy floor 90%

Sensitivity live

Price	-10% $161	-5% $117	+0% $73	+5% $29	+10% $-15
Rent	-10% $-42	-5% $15	+0% $73	+5% $130	+10% $188
Rate	-1.0pp $151	-0.5pp $112	base $73	+0.5pp $33	+1.0pp $-8

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	45d	1	0.10mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	0.11mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	15d	1	0.36mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	45d	1	0.50mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.54mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	23d	1	0.54mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.61mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	45d	1	0.61mi
1405 N Court St Unit 1407 Rockford, IL	2.0	1.0	1530	$1,100	$0.72	45d	1	0.66mi
1121 N Church St Rockford, IL	2.0	1.0	900	$1,200	$1.33	23d	1	0.97mi
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	15d	1	0.98mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	45d	1	0.99mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	45d	1	1.11mi
203 Carlton Ter Rockford, IL	2.0	1.0	900	$1,250	$1.39	23d	1	1.18mi
922 N Church St Rockford, IL	2.0	2.0	1150	$1,450	$1.26	45d	1	1.18mi
4719 Illinois St Loves Park, IL	3.0	1.0	1188	$1,600	$1.35	15d	1	1.19mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	23d	1	1.27mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	15d	1	1.29mi
728 N Winnebago St Rockford, IL	4.0	1.0	1250	$1,600	$1.28	15d	1	1.31mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	15d	1	1.34mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	15d	1	1.42mi
3936 Eagle Dr Rockford, IL	1.0–2.0	1.0	712	$999	$1.40	15d	1	1.46mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	45d	1	1.47mi

Listing history 2 events

1. 2026-06-13
   remarks 693-char remark
2. 2026-06-13
   listed $155,000 Pending 2 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: $2,394 · $200/mo
• Projected year-2 tax: $2,956 · $246/mo
• Expected delta: +$562/yr (+$47/mo · 23.5%)

ⓘ 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: $17,466
• − Mortgage interest: −$8,682
• − Property taxes: −$2,394
• − Insurance: −$775
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$4,509
• Taxable loss: −$1,689
• Est. tax savings @ 24.0%: +$405
• After-tax cash flow: $1,281/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

+174.3% since first listed

15 events — show timeline

• 2026-06-12 Pending — MRED as Distributed by MLS Grid
• 2026-06-12 Pending — NWIAR
• 2026-06-10 Listed $155,000 NWIAR
• 2026-06-10 Listed $155,000 MRED as Distributed by MLS Grid
• 2021-05-04 Sold (Public Records) $84,000 Public Records
• 2021-04-30 Sold (MLS) $84,000 NWIAR
• 2021-02-15 Listed $84,000 NWIAR
• 2011-01-04 Sold (Public Records) $53,000 Public Records
• 2007-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2007-05-18 Listed — MRED as Distributed by MLS Grid
• 2006-07-27 Sold (Public Records) $90,400 Public Records
• 2004-02-05 Sold (Public Records) $77,000 Public Records
• 1998-08-19 Sold (Public Records) $65,000 Public Records
• 1994-09-01 Sold (Public Records) $56,500 Public Records
• 1994-09-01 Sold (Public Records) $56,500 Public Records

Property tax history

-0.0%/yr

Latest (2025): $2,394 · +6.5% YoY. Source: county tax records.