1504 Eastmoreland Ave · Rockford, IL 61108

$124,900

3 bd · 1.0 ba · 916 sqft · SingleFamily · 22 Days on market

Built 1930 $136/sqft · 10% below area Est $138k · 10% under

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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 +24.0/30.0
• ARV discount +11.8/15.0
• DSCR +7.7/10.0
• 1% rule +5.9/10.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and full of potential, this 3-bedroom, 1-bath home sits on nearly half an acre, offering plenty of room to spread out both inside and out. The property features a detached 2-car garage, ideal for parking, storage, or a workshop. This home is move-in ready with solid bones, making it a great opportunity for buyers looking to add their personal touch and build equity over time. With a generous lot size, there's ample space for outdoor entertaining, gardening, or future improvements. Being sold as-is, this property is perfect for investors, first-time buyers, or anyone ready to bring a little vision and TLC to make it truly shine. Agent owned interest.

Key facts

• 2 garage spots
• Built 1930
• Listed 22 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+8.1%/yr); 114 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 + 8.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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: 1.09% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (median comp): $138,014
• List price: $124,900
• Delta: -9.50%
• 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
1607 Macarthur Dr	0.19mi	2/1.0 (-1)	781 (-15%)	3mo	$85,000	$109	59
4011 Larson Ave	0.40mi	3/2.0	962 (+5%)	15mo	$140,000	$146	56
2016 Ridgeland Rd	0.44mi	2/1.0 (-1)	823 (-10%)	6mo	$115,000	$140	53
815 Woodland Dr	0.50mi	2/1.0 (-1)	980 (+7%)	9mo	$165,000	$168	53
4024 Florida Dr	0.50mi	2/1.0 (-1)	950 (+4%)	18mo	$150,000	$158	50
3208 Maryland Rd	0.59mi	3/1.0	998 (+9%)	8mo	$163,000	$163	50
1819 East Gate Pkwy	0.44mi	3/1.0	1,015 (+11%)	15mo	$152,350	$150	49
2003 Oregon Ave	0.67mi	3/1.0	956 (+4%)	19mo	$130,000	$136	46
912 Peter Ave	0.55mi	2/1.0 (-1)	1,032 (+13%)	10mo	$130,000	$126	40
1830 Ohio Pkwy	0.56mi	2/1.0 (-1)	796 (-13%)	11mo	$97,500	$122	38
4558 Cleveland Ave	0.66mi	2/1.0 (-1)	984 (+7%)	19mo	$147,500	$150	36
820 29th St	0.68mi	2/1.0 (-1)	1,050 (+15%)	14mo	$129,900	$124	28

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $2,469
• Equity at exit: $18,623

10-year hold

• IRR: 15.7%
• Equity multiple: 2.57×
• Total profit: $54,760
• Equity at exit: $10,799

Cash invested: $34,972 (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 61108

• Home prices YoY: -29.2%
• Rents YoY: 8.1%
• Active inventory: 114
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,355 high
• Mortgage (P&I): −$655
• Tax from tax record: −$119 /mo · $1,433/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $244

Break-even live

Break-even rent $1,046

Max offer price $124,900

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3902 15th Ave Unit 3902-7 Rockford, IL	2.0	1.0	900	$1,375	$1.53	21d	1	0.18mi
4455 Charles St Rockford, IL	1.0–2.0	1.0	787	$1,299	$1.65	12d	1	0.51mi
515 Fairview Ave Rockford, IL	2.0	1.0	800	$1,400	$1.75	21d	1	0.74mi
4815 Creek View Rd Rockford, IL	2.0	1.0	800	$1,100	$1.38	43d	1	0.87mi
4752 E Lawn Dr Rockford, IL	1.0–2.0	1.0	887	$1,095	$1.23	12d	1	0.90mi
4242 Harrison Ave Rockford, IL	1.0–2.0	1.0	692	$1,299	$1.88	12d	1	0.96mi
4860 Creek View Rd Unit 3 Rockford, IL	2.0	1.0	800	$1,000	$1.25	43d	1	0.97mi
2723 Silent Wood Trl Unit 2735-7 Rockford, IL	3.0	1.5	1050	$1,310	$1.25	21d	1	1.10mi
4960 Hinsdale Ave Rockford, IL	2.0	1.0	900	$1,100	$1.22	43d	1	1.16mi
4960 Hinsdale Ave Unit 8 8 Rockford, IL	2.0	1.5	900	$1,100	$1.22	43d	1	1.16mi
4173 Eastridge Dr Rockford, IL	3.0	1.0	1000	$1,250	$1.25	43d	1	1.26mi

Listing history 7 events

1. 2026-05-06
   listed $129,000 Active 668-char remark
2. 2023-06-12
   historical
3. 2023-05-12
   historical
4. 2023-05-05
   price
5. 2023-05-05
   price $109,000
6. 2023-04-25
   listed Active
7. 2021-12-10
   soldstatus $880,000

ⓘ 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: $1,433 · $119/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$701/yr (+$58/mo · 48.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,262
• − Mortgage interest: −$6,996
• − Property taxes: −$1,433
• − Insurance: −$624
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$3,633
• Taxable income: $973
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $2,696/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): 30,355
• Household income: $64,415
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1199.0

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 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Black 11% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 18% Puerto Rican 2%
• Common ancestry: Romanian 3% Portuguese 3% Arab 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 75% English-only · Spanish 16% Arabic 3% Other Asian/Pacific 2%

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: ▼ -90.38%
• Current HPI: 218.6339
• Rent YoY: ▲ 8.11%
• 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

-85.8% since first listed

9 events — show timeline

• 2026-05-28 Pending — MRED as Distributed by MLS Grid
• 2026-05-26 Price Changed $124,900 MRED as Distributed by MLS Grid
• 2026-05-06 Listed $129,000 MRED as Distributed by MLS Grid
• 2023-06-12 Rental Removed — RENT.
• 2023-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2023-05-05 Price Changed — MRED as Distributed by MLS Grid
• 2023-05-05 Price Changed $109,000 NWIAR
• 2023-04-25 Listed — MRED as Distributed by MLS Grid
• 2021-12-10 Sold (Public Records) $880,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $1,433 · +8.4% YoY. Source: county tax records.