2226 10th St · Rockford, IL 61104

$120,000

4 bd · 1.5 ba · 1,640 sqft · SingleFamily · 87 Days on market

Built 1900 9,148 sqft lot $73/sqft · at area comps Est $115k · at est.

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Why this score? — see what drove the C+ 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +5.5/15.0
• 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

Listing remarks MLS

This well maintained single family residence offers 4 bedrooms and 1.5 bathrooms, providing ample space for comfortable family living or flexible use. The main living areas, dining room, and all bedrooms feature brand new flooring, creating a fresh, modern feel throughout. Additional highlights include a convenient 2 car detached garage located at the rear of the property, offering secure parking and extra storage. Priced to move, don't miss this excellent opportunity to make this home your own! Schedule a showing today.

Key facts

• New flooring
• Detached garage
• 9,148 sq ft lot

Tags

• DETACHED GARAGE
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: schools F, crime F, amenities 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.
• Market conditions: Rents rising fast (+9.7%/yr); 69 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $1,607/mo this rent would consume 57% 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 $830 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 $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 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 $120k implies a 95% 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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.34% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 6.2

CMA / ARV

• ARV (median comp): $114,914
• List price: $120,000
• Delta: 4.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2204 9th St	0.10mi	4/2.0	1,725 (+5%)	7mo	$178,000	$103	79
2126 9th St	0.14mi	3/2.5 (-1)	1,435 (-12%)	2mo	$163,000	$114	62
2019 S 5th St	0.50mi	3/1.5 (-1)	1,582 (-4%)	7mo	$90,000	$57	60
2117 S 5th St	0.48mi	4/2.5	1,716 (+5%)	10mo	$150,000	$87	58
1519 13th St	0.65mi	4/2.0	1,550 (-6%)	2mo	$166,000	$107	57
2637 Bildahl St	0.47mi	4/2.0	1,780 (+8%)	8mo	$98,000	$55	55
2211 S 5th St	0.47mi	3/2.5 (-1)	1,560 (-5%)	8mo	$175,000	$112	55
1310 10th St	0.73mi	4/1.0	1,560 (-5%)	10mo	$127,500	$82	47
1615 15th Ave	0.56mi	3/1.0 (-1)	1,451 (-12%)	1mo	$149,000	$103	47
1618 Parmele St	0.51mi	4/1.5	1,416 (-14%)	9mo	$120,000	$85	46
1913 18th Ave	0.56mi	3/2.0 (-1)	1,470 (-10%)	9mo	$78,500	$53	42
1711 S 4th St	0.69mi	3/1.5 (-1)	1,412 (-14%)	11mo	$95,000	$67	31

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: 11.3%
• Equity multiple: 1.47×
• Total profit: $15,884
• Equity at exit: $17,892

10-year hold

• IRR: 24.0%
• Equity multiple: 3.59×
• Total profit: $87,146
• Equity at exit: $10,375

Cash invested: $33,600 (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: 69
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$629
• Tax from tax record: −$170 /mo · $2,036/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $421

Break-even live

Break-even rent $1,075

Max offer price $120,000

Occupancy floor 69%

Sensitivity live

Price	-10% $489	-5% $455	+0% $421	+5% $387	+10% $353
Rent	-10% $294	-5% $357	+0% $421	+5% $484	+10% $548
Rate	-1.0pp $481	-0.5pp $451	base $421	+0.5pp $390	+1.0pp $358

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	45d	1	0.22mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	14d	1	0.41mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	45d	1	0.84mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	45d	1	1.01mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	14d	1	1.09mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	22d	1	1.10mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	45d	1	1.49mi

Listing history 21 events

1. 2026-06-21
   days on market $120,000 Active 87 DOM
2. 2026-06-19
   days on market $120,000 Active 85 DOM
3. 2026-06-18
   days on market $120,000 Active 84 DOM
4. 2026-06-17
   days on market $120,000 Active 83 DOM
5. 2026-06-16
   days on market $120,000 Active 82 DOM
6. 2026-06-15
   days on market $120,000 Active 81 DOM
7. 2026-06-14
   days on market $120,000 Active 79 DOM
8. 2026-06-13
   days on market $120,000 Active 78 DOM
9. 2026-06-10
   days on market $120,000 Active 76 DOM
10. 2026-06-09
    days on market $120,000 Active 75 DOM
11. 2026-06-08
    days on market $120,000 Active 74 DOM
12. 2026-06-07
    days on market $120,000 Active 73 DOM
13. 2026-06-03
    days on market $120,000 Active 69 DOM
14. 2026-06-02
    days on market $120,000 Active 68 DOM
15. 2026-06-01
    days on market $120,000 Active 67 DOM
16. 2026-05-31
    days on market $120,000 Active 66 DOM
17. 2026-05-30
    days on market $120,000 Active 65 DOM
18. 2026-05-05
    status Active 526-char remark

    Show marketing remark (526 chars)

    This well maintained single family residence offers 4 bedrooms and 1.5 bathrooms, providing ample space for comfortable family living or flexible use. The main living areas, dining room, and all bedrooms feature brand new flooring, creating a fresh, modern feel throughout. Additional highlights include a convenient 2 car detached garage located at the rear of the property, offering secure parking and extra storage. Priced to move, don't miss this excellent opportunity to make this home your own! Schedule a showing today.

19. 2026-05-03
    historical 526-char remark

    Show marketing remark (526 chars)

    This well maintained single family residence offers 4 bedrooms and 1.5 bathrooms, providing ample space for comfortable family living or flexible use. The main living areas, dining room, and all bedrooms feature brand new flooring, creating a fresh, modern feel throughout. Additional highlights include a convenient 2 car detached garage located at the rear of the property, offering secure parking and extra storage. Priced to move, don't miss this excellent opportunity to make this home your own! Schedule a showing today.

20. 2026-03-24
    listed $120,000 Active 526-char remark

    Show marketing remark (526 chars)

    This well maintained single family residence offers 4 bedrooms and 1.5 bathrooms, providing ample space for comfortable family living or flexible use. The main living areas, dining room, and all bedrooms feature brand new flooring, creating a fresh, modern feel throughout. Additional highlights include a convenient 2 car detached garage located at the rear of the property, offering secure parking and extra storage. Priced to move, don't miss this excellent opportunity to make this home your own! Schedule a showing today.

21. 2003-04-04
    soldstatus $61,500

ⓘ 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: $2,036 · $170/mo
• Projected year-2 tax: $2,380 · $198/mo
• Expected delta: +$344/yr (+$29/mo · 16.9%)

ⓘ 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 ≥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: $19,287
• − Mortgage interest: −$6,722
• − Property taxes: −$2,036
• − Insurance: −$600
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$3,491
• Taxable income: $3,352
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $4,245/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

+95.1% since first listed

4 events — show timeline

• 2026-05-05 Relisted — NWIAR
• 2026-05-03 Delisted — NWIAR
• 2026-03-24 Listed $120,000 NWIAR
• 2003-04-04 Sold (Public Records) $61,500 Public Records

Property tax history

-0.5%/yr

Latest (2024): $2,036 · +3.5% YoY. Source: county tax records.