210 N London Ave · Rockford, IL 61107

$239,000

4 bd · 2.0 ba · — sqft · MultiFamily · 20 Days on market

Built 1920

---

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 +14.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• 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: 2 units. confirmed

Listing remarks

Well-maintained duplex featuring spacious 2-bedroom units, each offering a comfortable living room and dining room, an enclosed porch, and a kitchen with a pantry. Separate gas and electric for each unit. Laundry hookups are located in the basement, along with separate storage areas. Additional highlights include a detached two-car garage, ample parking behind the building, and convenient off-street parking. Excellent location close to E. State St amenities and more!

Key facts

• Ample parking
• Enclosed porch
• Off-street parking

Tags

• ENCLOSED PORCH
• LAUNDRY HOOKUPS
• DETACHED TWO-CAR GARAGE
• AMPLE PARKING
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $57 ($679/yr) — positive. Per door: $28/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (4.3% below list).
• Recommended offer: $229k (4.3% 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: 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 (+5.9%/yr); 151 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($79k/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 $2k of loan paydown is wiped out by about $7k 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 20 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,800 (4.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.05
• GRM: 8.7

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 S Prospect St	0.30mi	4/2.0	—	3mo	$130,000	—	71
224 S Prospect St	0.36mi	4/2.0	—	7mo	$34,000	—	65
120-122 Smith Ave	0.36mi	4/2.0	—	7mo	$145,000	—	65
408 S Gardiner Ave	0.38mi	4/2.0	—	6mo	$128,200	—	65
502 Pearl St	0.39mi	3/2.0 (-1)	—	2mo	$158,000	—	63
328 S Prospect St	0.42mi	4/3.0	—	3mo	$172,000	—	61
125 S Prospect St	0.33mi	4/4.0	—	5mo	$215,000	—	60
1619 4th Ave	0.55mi	4/2.0	—	6mo	$80,000	—	57
214 Summit St	0.56mi	3/2.0 (-1)	2,084	1mo	$145,000	$70	55
1607 4th Ave	0.56mi	4/2.0	—	9mo	$205,000	—	54
1223 Jackson St	0.73mi	4/2.0	—	6mo	$185,000	—	48
1607 Rural St	0.51mi	4/4.0	—	10mo	$313,000	—	48

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 · 5.92% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-28,111
• Equity at exit: $35,636

10-year hold

• IRR: 2.0%
• Equity multiple: 1.16×
• Total profit: $10,693
• Equity at exit: $20,664

Cash invested: $66,920 (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 61107

• Home prices YoY: -20.1%
• Rents YoY: 5.9%
• Active inventory: 151
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,288 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$398 /mo · $4,776/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $57

Break-even live

Break-even rent $2,216

Max offer price $239,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,288
Total (2 units)			$2,288

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	44d	1	0.36mi
620 Paris Ave Rockford, IL	5.0	3.5	—	$2,200	—	21d	1	0.39mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	21d	1	0.76mi
1351 7th Ave Rockford, IL	4.0	2.0	1040	$2,000	$1.92	44d	1	0.86mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	0.88mi
1209 6th Ave Rockford, IL	3.0	1.0	—	$1,500	—	21d	1	0.95mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	21d	1	1.09mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	44d	1	1.15mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	44d	1	1.16mi
512 Market St Unit 512 UPPER Rockford, IL	3.0	1.0	—	$1,750	—	44d	1	1.18mi
713 S 4th St Unit Upper Rockford, IL	4.0	2.0	—	$1,500	—	44d	1	1.28mi
222 S 2nd St Unit 224 Rockford, IL	3.0	1.0	—	$1,350	—	21d	1	1.32mi
507 Oak St Unit 2 Rockford, IL	3.0	2.5	—	$1,250	—	21d	1	1.34mi
1612 10th St Unit 2 Rockford, IL	3.0	1.0	—	$1,250	—	44d	1	1.35mi
977 Indian Ter Rockford, IL	3.0	2.5	—	$3,250	—	44d	1	1.38mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	13d	1	1.42mi

Listing history 15 events

1. 2026-04-15
   soldstatus $245,000
2. 2026-04-09
   historical
3. 2026-03-09
   status Pending
4. 2026-02-18
   listed $239,000 Active
5. 2026-01-20
   historical
6. 2026-01-12
   listed Active
7. 2023-07-27
   soldstatus $145,000 Closed
8. 2023-07-01
   status Pending
9. 2023-06-30
   listed $139,900 Active
10. 2021-01-29
    soldstatus $95,000
11. 2021-01-27
    soldstatus $95,000
12. 2020-12-03
    listed $95,000
13. 2005-07-27
    soldstatus $111,500
14. 2003-08-08
    soldstatus $89,500
15. 2000-11-07
    soldstatus $88,000

ⓘ 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: $4,776 · $398/mo
• Projected year-2 tax: $5,101 · $425/mo
• Expected delta: +$324/yr (+$27/mo · 6.8%)

ⓘ 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: $27,456
• − Mortgage interest: −$13,388
• − Property taxes: −$4,776
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,196
• − Management: −$2,196
• − Depreciation: −$6,953
• Taxable loss: −$3,249
• Est. tax savings @ 24.0%: +$780
• After-tax cash flow: $1,459/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): 30,765
• Household income: $78,574
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 981.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Black 9% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 11% Arabic 1% Other Indo-European 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: ▼ -62.46%
• Current HPI: 248.8598
• Rent YoY: ▲ 5.92%
• 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

+178.4% since first listed

15 events — show timeline

• 2026-04-15 Sold (Public Records) $245,000 Public Records
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-09 Pending — NWIAR
• 2026-02-18 Listed $239,000 NWIAR
• 2026-01-20 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-12 Listed — MRED as Distributed by MLS Grid
• 2023-07-27 Sold (MLS) $145,000 NWIAR
• 2023-07-01 Pending — NWIAR
• 2023-06-30 Listed $139,900 NWIAR
• 2021-01-29 Sold (Public Records) $95,000 Public Records
• 2021-01-27 Sold (MLS) $95,000 NWIAR
• 2020-12-03 Listed $95,000 NWIAR
• 2005-07-27 Sold (Public Records) $111,500 Public Records
• 2003-08-08 Sold (Public Records) $89,500 Public Records
• 2000-11-07 Sold (Public Records) $88,000 Public Records

Property tax history

+1.1%/yr

Latest (2024): $4,776 · +3.5% YoY. Source: county tax records.