3228 Idlewood Ter · Rockford, IL 61101

$119,900

3 bd · 1.0 ba · 925 sqft · SingleFamily · 68 Days on market

Built 1957 7,841 sqft lot $130/sqft · 6% above area Est $114k · 6% over

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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 +24.6/30.0
• DSCR +8.0/10.0
• 1% rule +6.3/10.0
• ARV discount +5.0/15.0
• 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

Listing remarks MLS

925 sq ft single-family home offering 3 bedrooms and 1 bath. A solid opportunity for investment or a starter home.

Key facts

• 7,841 sq ft lot
• Garage
• Built 1957

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 14 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).
• This rent runs 35% of the median local income ($46k/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 $829 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $120k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1957 — 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: 1.13% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 7.4

CMA / ARV

• ARV (median comp): $113,593
• List price: $119,900
• Delta: 5.55%
• 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
3311 Hanover Dr	0.09mi	3/1.0	936 (+1%)	1mo	$135,000	$144	93
3130 Hazel St	0.35mi	3/1.0	990 (+7%)	3mo	$91,500	$92	70
2011 Overdene Ave	0.62mi	3/1.0	875 (-5%)	1mo	$132,000	$151	62
2011 Overdene Ave	0.62mi	3/1.0	875 (-5%)	1mo	$132,000	$151	62
2724 Prial Ave	0.37mi	2/1.0 (-1)	1,036 (+12%)	4mo	$100,000	$97	55
1810 Midway Dr	0.68mi	2/2.0 (-1)	924 (-0%)	9mo	$89,000	$96	52
2804 Gladstone Ave	0.72mi	3/1.0	864 (-7%)	7mo	$105,000	$122	50
2818 Coleman Ave	0.51mi	3/1.0	1,048 (+13%)	8mo	$139,900	$133	47
2123 Glenwood Ave	0.62mi	3/1.0	1,011 (+9%)	11mo	$148,000	$146	47
2404 Glenwood Ave	0.56mi	2/1.0 (-1)	1,037 (+12%)	4mo	$110,000	$106	45
2212 Barton Blvd	0.49mi	3/2.0	1,040 (+12%)	11mo	$159,900	$154	43
1720 Paradise Blvd	0.73mi	2/1.0 (-1)	858 (-7%)	8mo	$115,000	$134	42

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,578
• Equity at exit: $17,877

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $17,336
• Equity at exit: $10,367

Cash invested: $33,572 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$629
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $249

Break-even live

Break-even rent $1,038

Max offer price $119,900

Occupancy floor 77%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	13d	1	0.18mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	43d	1	0.58mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	13d	1	0.58mi
3936 Eagle Dr Rockford, IL	1.0–2.0	1.0	712	$999	$1.40	13d	1	0.67mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	21d	1	0.68mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	13d	1	0.68mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	13d	1	0.89mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	43d	1	1.25mi
3311 Sun Valley Ter Unit 3311-8 Rockford, IL	2.0	1.0	850	$995	$1.17	43d	1	1.26mi
3303 Sun Valley Ter Unit 3303-11 Rockford, IL	2.0	1.0	850	$950	$1.12	21d	1	1.27mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	13d	1	1.31mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	43d	1	1.37mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	43d	1	1.48mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	13d	1	1.50mi

Listing history 5 events

1. 2026-04-20
   price $119,900 114-char remark

   Show marketing remark (114 chars)

   925 sq ft single-family home offering 3 bedrooms and 1 bath. A solid opportunity for investment or a starter home.

2. 2026-04-20
   price $119,125,900 114-char remark

   Show marketing remark (114 chars)

   925 sq ft single-family home offering 3 bedrooms and 1 bath. A solid opportunity for investment or a starter home.

3. 2026-03-19
   listed $125,000 Active 114-char remark

   Show marketing remark (114 chars)

   925 sq ft single-family home offering 3 bedrooms and 1 bath. A solid opportunity for investment or a starter home.

4. 2022-09-21
   soldstatus $47,000
5. 2003-11-07
   soldstatus $57,000

ⓘ 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: $1,696 · $141/mo
• Projected year-2 tax: $2,209 · $184/mo
• Expected delta: +$513/yr (+$43/mo · 30.2%)

ⓘ 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: $16,233
• − Mortgage interest: −$6,716
• − Property taxes: −$1,696
• − Insurance: −$600
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$3,488
• Taxable income: $1,136
• Est. tax owed @ 24.0%: −$273
• After-tax cash flow: $2,711/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

+110.4% since first listed

5 events — show timeline

• 2026-04-20 Price Changed $119,900 NWIAR
• 2026-04-20 Price Changed $119,125,900 NWIAR
• 2026-03-19 Listed $125,000 NWIAR
• 2022-09-21 Sold (Public Records) $47,000 Public Records
• 2003-11-07 Sold (Public Records) $57,000 Public Records

Property tax history

+0.2%/yr

Latest (2024): $1,696 · +7.7% YoY. Source: county tax records.