1305 N Horsman St · Rockford, IL 61101

$68,000

2 bd · 1.0 ba · 832 sqft · MultiFamily public records · 3 Days on market

Built 1922

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Perfect investor ready multi family unit! Needing all the TLC to make it a profitable property. See it before its gone!

Key facts

• 4 parking spots
• Built 1922
• Listed 3 days

Property features AI

Finance

• Financial info: Annual taxes: $892

Exterior

• Parking: 4 parking spaces
• Home design: Duplex residential income property; 2 stories
• Construction: 832 sq ft finished lower level
• Exterior features: Shingle roof

Interior

• Interior features: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $68k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Cap rate 27.5% 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: 76 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $2,106/mo this rent would consume 55% of the median local household income ($46k/yr) (locally 1170% 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 $470 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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 $35k; list at $68k implies a 94% 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 $68,000

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. 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.
6. 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.
7. 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: 3.10% ✓
• Cap rate: 27.55%
• Cash-on-cash: 75.91%
• DSCR: 4.38
• GRM: 2.7

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: 75.8%
• Equity multiple: 4.45×
• Total profit: $65,722
• Equity at exit: $10,139

10-year hold

• IRR: 79.5%
• Equity multiple: 9.20×
• Total profit: $156,115
• Equity at exit: $5,879

Cash invested: $19,040 (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: 76
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,106 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $1,205

Break-even live

Break-even rent $581

Max offer price $68,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,106
Total (2 units)			$2,106

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	43d	1	0.22mi
2008 Auburn St Unit 2008-1E Rockford, IL	1.0	1.0	850	$925	$1.09	21d	1	0.42mi
912 Haskell Ave Unit 912-10 Rockford, IL	1.0	1.0	575	$825	$1.43	21d	1	0.48mi
912 Haskell Ave Unit 912-2 Rockford, IL	1.0	1.0	575	$825	$1.43	13d	1	0.48mi
1904 Auburn St Unit 1904-2 Rockford, IL	1.0	1.0	700	$950	$1.36	44d	1	0.49mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	43d	1	0.49mi
829 N Court St Unit 829-12 Rockford, IL	1.0	1.0	675	$850	$1.26	43d	1	0.71mi
829 N Court St Unit 829-15 Rockford, IL	1.0	1.0	675	$895	$1.33	21d	1	0.71mi
1401 N Court St Rockford, IL	2.0	1.0	850	$950	$1.12	43d	1	0.71mi
920 N Church St Rockford, IL	2.0	1.0	750	$1,295	$1.73	13d	4	0.71mi
1118 Furman St Unit 1118-13 Rockford, IL	1.0	1.0	650	$995	$1.53	21d	1	0.73mi
1118 Furman St Unit 1118-15 Rockford, IL	1.0	1.0	650	$995	$1.53	43d	1	0.73mi
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	13d	1	0.74mi
939 N Church St Unit 939-9 Rockford, IL	1.0	1.0	750	$925	$1.23	43d	1	0.76mi
1121 N Church St Rockford, IL	2.0	1.0	900	$1,200	$1.33	21d	1	0.78mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$999	$1.05	13d	1	0.79mi
2516 N Rockton Ave #4 Rockford, IL	1.0	1.0	550	$850	$1.55	43d	1	0.81mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	21d	1	0.82mi
929 N Main St Rockford, IL	1.0	1.0	662	$999	$1.51	13d	1	0.83mi
203 Carlton Ter Rockford, IL	2.0	1.0	900	$1,250	$1.39	21d	1	0.87mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	21d	1	0.87mi
529 N Main St Rockford, IL	1.0	1.0	562	$950	$1.69	13d	4	0.92mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$999	$1.14	13d	1	0.95mi
411 Mulberry St Rockford, IL	1.0	1.0	415	$1,025	$2.47	13d	25	1.04mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	13d	1	1.07mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	13d	1	1.08mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	43d	1	1.12mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	13d	1	1.12mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	13d	1	1.16mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	21d	1	1.16mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	43d	1	1.18mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	43d	1	1.23mi
226 S Main St Rockford, IL	1.0	1.0	1066	$1,560	$1.46	13d	3	1.28mi
607 N 2nd St Unit 607-6 Rockford, IL	2.0	1.0	875	$950	$1.09	43d	1	1.32mi
2305 School St Unit 2305-7 Rockford, IL	2.0	1.0	875	$995	$1.14	43d	1	1.40mi
2202 Hancock St Unit 2202-3H Rockford, IL	1.0	1.0	550	$875	$1.59	43d	1	1.40mi
1826 Green St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	21d	1	1.49mi

Listing history 22 events

1. 2026-05-20
   status Active

   Show marketing remark (119 chars)

   Perfect investor ready multi family unit! Needing all the TLC to make it a profitable property. See it before its gone!

2. 2026-05-20
   listed $68,000 Active 119-char remark

   Show marketing remark (119 chars)

   Perfect investor ready multi family unit! Needing all the TLC to make it a profitable property. See it before its gone!

3. 2017-11-01
   soldstatus $35,000
4. 2017-10-27
   soldstatus $35,000 Closed Sale 311-char remark

   Show marketing remark (311 chars)

   TRUE INVESTMENT PROPERTY. TWO UNITS COLONIAL STYLE BUILDING. Each unit has 5 rooms with 2 bedrooms and updated bathrooms. Move in condition. One unit has stove and refrigerator. Well maintained yard. Detached 2 car garage with additional off street parking from the alley way. Just off the Auburn St bus route.

5. 2017-10-27
   soldstatus $35,000

   Show marketing remark (311 chars)

   TRUE INVESTMENT PROPERTY. TWO UNITS COLONIAL STYLE BUILDING. Each unit has 5 rooms with 2 bedrooms and updated bathrooms. Move in condition. One unit has stove and refrigerator. Well maintained yard. Detached 2 car garage with additional off street parking from the alley way. Just off the Auburn St bus route.

6. 2017-09-18
   status Pending 311-char remark

   Show marketing remark (311 chars)

   TRUE INVESTMENT PROPERTY. TWO UNITS COLONIAL STYLE BUILDING. Each unit has 5 rooms with 2 bedrooms and updated bathrooms. Move in condition. One unit has stove and refrigerator. Well maintained yard. Detached 2 car garage with additional off street parking from the alley way. Just off the Auburn St bus route.

7. 2017-09-06
   listed $39,900 New 311-char remark

   Show marketing remark (311 chars)

   TRUE INVESTMENT PROPERTY. TWO UNITS COLONIAL STYLE BUILDING. Each unit has 5 rooms with 2 bedrooms and updated bathrooms. Move in condition. One unit has stove and refrigerator. Well maintained yard. Detached 2 car garage with additional off street parking from the alley way. Just off the Auburn St bus route.

8. 2017-09-06
   listed $39,900

   Show marketing remark (311 chars)

   TRUE INVESTMENT PROPERTY. TWO UNITS COLONIAL STYLE BUILDING. Each unit has 5 rooms with 2 bedrooms and updated bathrooms. Move in condition. One unit has stove and refrigerator. Well maintained yard. Detached 2 car garage with additional off street parking from the alley way. Just off the Auburn St bus route.

9. 2013-01-04
   soldstatus $48,500
10. 2009-01-27
    soldstatus $31,500 Closed Sale
11. 2008-12-22
    historical
12. 2008-12-11
    price $31,500
13. 2008-11-28
    listed $36,900
14. 2007-11-03
    historical
15. 2007-07-19
    historical
16. 2007-07-03
    listed
17. 2007-04-26
    listed
18. 2004-02-05
    soldstatus $60,000
19. 1998-11-03
    soldstatus $39,000
20. 1995-09-14
    soldstatus $30,000
21. 1995-09-14
    soldstatus $35,500
22. 1995-09-14
    soldstatus $35,500

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,218 · $101/mo
• Expected delta: +$326/yr (+$27/mo · 36.6%)

ⓘ 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: $25,272
• − Mortgage interest: −$3,809
• − Property taxes: −$892
• − Insurance: −$340
• − Repairs & maintenance: −$2,022
• − Management: −$2,022
• − Depreciation: −$1,978
• Taxable income: $14,210
• Est. tax owed @ 24.0%: −$3,410
• After-tax cash flow: $11,044/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

+126.7% since first listed

22 events — show timeline

• 2026-05-20 Relisted — NWIAR
• 2026-05-20 Listed $68,000 MRED as Distributed by MLS Grid
• 2017-11-01 Sold (Public Records) $35,000 Public Records
• 2017-10-27 Sold (MLS) $35,000 MRED as Distributed by MLS Grid
• 2017-10-27 Sold (MLS) $35,000 NWIAR
• 2017-09-18 Pending — MRED as Distributed by MLS Grid
• 2017-09-06 Listed $39,900 MRED as Distributed by MLS Grid
• 2017-09-06 Listed $39,900 NWIAR
• 2013-01-04 Sold (Public Records) $48,500 Public Records
• 2009-01-27 Sold (MLS) $31,500 MRED as Distributed by MLS Grid
• 2008-12-22 Listing Removed — MRED as Distributed by MLS Grid
• 2008-12-11 Price Changed $31,500 MRED as Distributed by MLS Grid
• 2008-11-28 Listed $36,900 MRED as Distributed by MLS Grid
• 2007-11-03 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-19 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-03 Listed — MRED as Distributed by MLS Grid
• 2007-04-26 Listed — MRED as Distributed by MLS Grid
• 2004-02-05 Sold (Public Records) $60,000 Public Records
• 1998-11-03 Sold (Public Records) $39,000 Public Records
• 1995-09-14 Sold (Public Records) $35,500 Public Records
• 1995-09-14 Sold (Public Records) $35,500 Public Records
• 1995-09-14 Sold (Public Records) $30,000 Public Records

Property tax history

-3.1%/yr

Latest (2024): $892 · +3.5% YoY. Source: county tax records.