3024 Lawndale Ave · Rockford, IL 61101

$125,000

2 bd · 2.0 ba · — sqft · MultiFamily · 33 Days on market

Built 1945 Est $182k · 31% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Here is your opportunity to become a landlord or add to your portfolio! This property has 2 units side by side, BOTH are rented to long term tenants! each unit has 1 bedroom and 1 bathroom. Property has a full basement giving each tenant their own space for storage and washer/dryer hookups! 2 car detached garage with alley access included. Landlord pays for water, sewer and waster removal. Brand new roof & front entry steps & newly painted exterior. New roof in September of 2025 that includes a transferable warranty. Also, new front entry steps and freshly painted exterior.

Key facts

• 2 garage spots
• Built 1945
• Listed 33 days

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$182,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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: 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: 83 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $864 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 + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y 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 $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.66% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.30%
• DSCR: 2.08
• GRM: 5.0

CMA / ARV

• ARV (median comp): $182,000
• List price: $125,000
• Delta: -31.32%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3024 Lawndale Ave	0.00mi	2/2.0	—	0mo	$125,000	—	87
3107 Garfield Dr	0.16mi	3/2.0 (+1)	450	4mo	$130,000	$289	72
3025 Parkside Ave	0.32mi	3/2.0 (+1)	—	13mo	$138,000	—	57
1105 N Horsman St	0.75mi	2/2.0	—	1mo	$87,000	—	52
2907 Vinton Ave	0.70mi	3/2.0 (+1)	856	1mo	$85,000	$99	49
2418 Benderwirt Ave	0.69mi	2/2.0	—	20mo	$110,000	—	39

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: 17.6%
• Equity multiple: 1.71×
• Total profit: $24,956
• Equity at exit: $18,638

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $80,148
• Equity at exit: $10,808

Cash invested: $35,000 (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: 83
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,074 high
• Mortgage (P&I): −$656
• Tax from tax record: −$222 /mo · $2,666/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $709

Break-even live

Break-even rent $1,177

Max offer price $125,000

Occupancy floor 61%

Sensitivity live

Price	-10% $779	-5% $744	+0% $709	+5% $673	+10% $638
Rent	-10% $545	-5% $627	+0% $709	+5% $791	+10% $873
Rate	-1.0pp $772	-0.5pp $741	base $709	+0.5pp $676	+1.0pp $643

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,074
Total (2 units)			$2,074

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3133 Liberty Dr Rockford, IL	3.0	1.5	—	$1,675	—	23d	1	0.20mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$999	$1.05	15d	1	0.20mi
3410 Garfield Dr Unit 3415 Rockford, IL	2.0	1.0	—	$925	—	46d	1	0.37mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	46d	1	0.40mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	46d	1	0.40mi
2516 N Rockton Ave #4 Rockford, IL	1.0	1.0	550	$850	$1.55	46d	1	0.52mi
1118 Furman St Unit 1118-15 Rockford, IL	1.0	1.0	650	$995	$1.53	46d	1	0.60mi
1118 Furman St Unit 1118-13 Rockford, IL	1.0	1.0	650	$995	$1.53	23d	1	0.60mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	23d	1	0.66mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	46d	1	0.70mi
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	15d	1	0.72mi
2008 Auburn St Unit 2008-1E Rockford, IL	1.0	1.0	850	$925	$1.09	23d	1	0.90mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	15d	1	0.93mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	46d	1	0.93mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.93mi
1904 Auburn St Unit 1904-2 Rockford, IL	1.0	1.0	700	$950	$1.36	47d	1	0.96mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	46d	1	0.96mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	1.03mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	23d	1	1.03mi
1803 Sauber Ave Rockford, IL	3.0	1.0	—	$1,400	—	23d	1	1.04mi
912 Haskell Ave Unit 912-10 Rockford, IL	1.0	1.0	575	$825	$1.43	23d	1	1.08mi
912 Haskell Ave Unit 912-2 Rockford, IL	1.0	1.0	575	$825	$1.43	15d	1	1.08mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	46d	1	1.08mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	46d	1	1.10mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	15d	1	1.11mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,232	$1.45	15d	1	1.11mi
1405 N Court St Unit 1407 Rockford, IL	2.0	1.0	1530	$1,100	$0.72	46d	1	1.19mi
1401 N Court St Rockford, IL	2.0	1.0	850	$950	$1.12	46d	1	1.19mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	46d	1	1.23mi
718 Locust St Rockford, IL	3.0	1.0	—	$1,550	—	15d	1	1.23mi
326 N Independence Ave Rockford, IL	3.0	1.0	—	$1,550	—	15d	1	1.23mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	1.28mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	46d	1	1.28mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$999	$1.14	15d	1	1.29mi
829 N Court St Unit 829-15 Rockford, IL	1.0	1.0	675	$895	$1.33	23d	1	1.31mi
829 N Court St Unit 829-12 Rockford, IL	1.0	1.0	675	$850	$1.26	46d	1	1.31mi
319 Albert Ave Unit 2 Rockford, IL	2.0	1.0	—	$1,400	—	46d	1	1.31mi
920 N Church St Rockford, IL	2.0	1.0	750	$1,295	$1.73	15d	4	1.31mi
922 N Church St Rockford, IL	2.0	2.0	1150	$1,450	$1.26	46d	1	1.32mi
1121 N Church St Rockford, IL	2.0	1.0	900	$1,200	$1.33	23d	1	1.34mi

Listing history 27 events

1. 2026-05-04
   status Pending 592-char remark

   Show marketing remark (588 chars)

   Here is your opportunity to become a landlord or add to your portfolio! This property has 2 units side by side, BOTH are rented to long term tenants! each unit has 1 bedroom and 1 bathroom. Property has a full basement giving each tenant their own space for storage and washer/dryer hookups! 2 car detached garage with alley access included. Landlord pays for water, sewer and waster removal. Brand new roof & front entry steps & newly painted exterior. New roof in September of 2025 that includes a transferable warranty. Also, new front entry steps and freshly painted exterior.

2. 2026-05-04
   status Pending 588-char remark

   Show marketing remark (588 chars)

   Here is your opportunity to become a landlord or add to your portfolio! This property has 2 units side by side, BOTH are rented to long term tenants! each unit has 1 bedroom and 1 bathroom. Property has a full basement giving each tenant their own space for storage and washer/dryer hookups! 2 car detached garage with alley access included. Landlord pays for water, sewer and waster removal. Brand new roof & front entry steps & newly painted exterior. New roof in September of 2025 that includes a transferable warranty. Also, new front entry steps and freshly painted exterior.

3. 2026-04-01
   listed $125,000 Active 592-char remark

   Show marketing remark (588 chars)

   Here is your opportunity to become a landlord or add to your portfolio! This property has 2 units side by side, BOTH are rented to long term tenants! each unit has 1 bedroom and 1 bathroom. Property has a full basement giving each tenant their own space for storage and washer/dryer hookups! 2 car detached garage with alley access included. Landlord pays for water, sewer and waster removal. Brand new roof & front entry steps & newly painted exterior. New roof in September of 2025 that includes a transferable warranty. Also, new front entry steps and freshly painted exterior.

4. 2026-04-01
   listed $125,000 Active 588-char remark

   Show marketing remark (588 chars)

   Here is your opportunity to become a landlord or add to your portfolio! This property has 2 units side by side, BOTH are rented to long term tenants! each unit has 1 bedroom and 1 bathroom. Property has a full basement giving each tenant their own space for storage and washer/dryer hookups! 2 car detached garage with alley access included. Landlord pays for water, sewer and waster removal. Brand new roof & front entry steps & newly painted exterior. New roof in September of 2025 that includes a transferable warranty. Also, new front entry steps and freshly painted exterior.

5. 2025-12-31
   historical
6. 2025-09-19
   price $135,000
7. 2025-07-16
   status Active
8. 2025-06-21
   historical
9. 2025-04-25
   price $130,000
10. 2025-04-25
    price
11. 2025-04-04
    price $140,000
12. 2025-04-04
    price
13. 2025-03-24
    listed Active
14. 2020-08-20
    soldstatus $50,000
15. 2020-08-13
    soldstatus $50,000 Closed Sale
16. 2020-08-05
    status Pending
17. 2020-07-31
    soldstatus $50,000
18. 2020-06-14
    status Contingent
19. 2020-06-07
    status Reactivated
20. 2020-05-27
    status Contingent
21. 2020-02-20
    price $54,500
22. 2020-01-12
    listed $55,900 New
23. 2020-01-12
    listed $54,500
24. 2019-10-18
    historical
25. 2019-05-23
    price
26. 2019-04-02
    listed New
27. 2004-06-02
    soldstatus $63,500

ⓘ 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: $2,666 · $222/mo
• Projected year-2 tax: $2,752 · $229/mo
• Expected delta: +$86/yr (+$7/mo · 3.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% 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: $24,888
• − Mortgage interest: −$7,002
• − Property taxes: −$2,666
• − Insurance: −$625
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$3,636
• Taxable income: $6,977
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $6,830/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

+96.9% since first listed

27 events — show timeline

• 2026-05-04 Pending — NWIAR
• 2026-05-04 Pending — MRED as Distributed by MLS Grid
• 2026-04-01 Listed $125,000 MRED as Distributed by MLS Grid
• 2026-04-01 Listed $125,000 NWIAR
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-19 Price Changed $135,000 NWIAR
• 2025-07-16 Relisted — MRED as Distributed by MLS Grid
• 2025-06-21 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-25 Price Changed $130,000 NWIAR
• 2025-04-25 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-04 Price Changed $140,000 NWIAR
• 2025-04-04 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-24 Listed — MRED as Distributed by MLS Grid
• 2020-08-20 Sold (Public Records) $50,000 Public Records
• 2020-08-13 Sold (MLS) $50,000 MRED as Distributed by MLS Grid
• 2020-08-05 Pending — MRED as Distributed by MLS Grid
• 2020-07-31 Sold (MLS) $50,000 NWIAR
• 2020-06-14 Pending — MRED as Distributed by MLS Grid
• 2020-06-07 Relisted — MRED as Distributed by MLS Grid
• 2020-05-27 Pending — MRED as Distributed by MLS Grid
• 2020-02-20 Price Changed $54,500 MRED as Distributed by MLS Grid
• 2020-01-12 Listed $55,900 MRED as Distributed by MLS Grid
• 2020-01-12 Listed $54,500 NWIAR
• 2019-10-18 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-23 Price Changed — MRED as Distributed by MLS Grid
• 2019-04-02 Listed — MRED as Distributed by MLS Grid
• 2004-06-02 Sold (Public Records) $63,500 Public Records

Property tax history

-0.1%/yr

Latest (2024): $2,666 · +3.5% YoY. Source: county tax records.