2924 Custer Rd · Rockford, IL 61101

$63,500

3 bd · 1.0 ba · 1,033 sqft · SingleFamily · 8 Days on market

Built 1950 6,534 sqft lot Est $97k · 35% under ↓ 16% since listing

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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

Listing remarks

Calling all flippers, renovators, and visionaries! This 1,033 sq ft single-family home is priced to move and packed with potential. This property is a diamond in the rough waiting for the right buyer to bring it back to life. Spacious layout with natural light and solid bones. Generous backyard with mature trees. Whether you're looking to renovate and resell or build long-term equity, this is a rare chance to invest in a property with upside. Bring your contractor, your creativity, and your offer! Property is being sold As-Is.

Key facts

• Solid bones
• Natural light
• Spacious layout

Tags

• GENEROUS BACKYARD
• MATURE TREES
• SPACIOUS LAYOUT
• NATURAL LIGHT
• SOLID BONES

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; House
• Exterior features: Shingle roof; 0.15 acre lot

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas cooktop; Refrigerator; Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Cap rate 17.4% 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: R K Welsh Elem School (math 7% / reading 7%, grade F, #1,719 of 2,056 statewide, top 84%, 435 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 students, 0% FRL); Guilford High School (math 15% / reading 28%, grade F, #345 of 693 statewide, top 50%, 2,071 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: 79 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $439 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,500

Questions for the listing agent

1. Built in 1950 — 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: 2.14% ✓
• Cap rate: 17.41%
• Cash-on-cash: 39.69%
• DSCR: 2.77
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $97,102
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2828 Ridgeway Ave	0.09mi	2/1.0 (-1)	1,009 (-2%)	7mo	$90,000	$89	81
2917 Lawndale Ave	0.09mi	3/1.0	1,178 (+14%)	1mo	$81,000	$69	71
3208 Liberty Dr	0.28mi	3/1.0	1,148 (+11%)	4mo	$123,000	$107	65
2728 Lawndale Ave	0.16mi	3/1.0	1,176 (+14%)	5mo	$110,000	$94	65
1816 N Winnebago St	0.49mi	2/1.0 (-1)	1,009 (-2%)	7mo	$76,000	$75	63
2724 Prial Ave	0.63mi	2/1.0 (-1)	1,036 (+0%)	4mo	$100,000	$97	62
2404 Glenwood Ave	0.62mi	2/1.0 (-1)	1,037 (+0%)	5mo	$110,000	$106	62
2018 Bruner St	0.68mi	3/1.0	1,115 (+8%)	2mo	$102,000	$91	54
2612 Glenwood Ave	0.52mi	3/1.0	1,166 (+13%)	6mo	$143,000	$123	49
3529 Blackstone Ave	0.58mi	2/1.0 (-1)	925 (-10%)	3mo	$36,000	$39	48
1719 Carney Ave	0.60mi	2/1.0 (-1)	894 (-14%)	0mo	$50,000	$56	44
2012 Bruner St	0.68mi	3/1.5	1,141 (+10%)	6mo	$115,000	$101	44

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: 36.0%
• Equity multiple: 2.53×
• Total profit: $27,216
• Equity at exit: $9,468

10-year hold

• IRR: 42.8%
• Equity multiple: 5.06×
• Total profit: $72,132
• Equity at exit: $5,490

Cash invested: $17,780 (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: 79
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,361 high
• Mortgage (P&I): −$333
• Tax from tax record: −$127 /mo · $1,528/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $588

Break-even live

Break-even rent $616

Max offer price $63,500

Occupancy floor 52%

Sensitivity live

Price	-10% $624	-5% $606	+0% $588	+5% $570	+10% $552
Rent	-10% $481	-5% $534	+0% $588	+5% $642	+10% $696
Rate	-1.0pp $620	-0.5pp $604	base $588	+0.5pp $572	+1.0pp $555

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: $15,875
• Closing costs: $1,905
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	45d	1	0.30mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	15d	1	0.32mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	45d	1	0.41mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	45d	1	0.58mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	22d	1	0.69mi
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	15d	1	0.73mi
1146 Fairview Ave Rockford, IL	4.0	1.5	1344	$1,250	$0.93	22d	1	0.80mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	45d	1	0.84mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.90mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	45d	1	0.90mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	15d	1	0.97mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	22d	1	0.99mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.99mi
728 N Winnebago St Rockford, IL	4.0	1.0	1250	$1,600	$1.28	15d	1	1.05mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	45d	1	1.06mi
1401 N Court St Rockford, IL	2.0	1.0	850	$950	$1.12	45d	1	1.07mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	45d	1	1.07mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	15d	1	1.09mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	15d	1	1.16mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	15d	1	1.17mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	1.18mi
920 N Church St Rockford, IL	2.0	1.0	750	$1,295	$1.73	15d	4	1.19mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	45d	1	1.19mi
922 N Church St Rockford, IL	2.0	2.0	1150	$1,450	$1.26	45d	1	1.21mi
1121 N Church St Rockford, IL	2.0	1.0	900	$1,200	$1.33	22d	1	1.22mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	45d	1	1.24mi
2215 Hecker Ave Unit 2215 Rockford, IL	3.0	1.0	800	$1,095	$1.37	45d	1	1.29mi
207 N Central Ave Rockford, IL	4.0	1.5	1296	$1,500	$1.16	15d	1	1.31mi
203 Carlton Ter Rockford, IL	2.0	1.0	900	$1,250	$1.39	22d	1	1.34mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	22d	1	1.35mi
2305 School St Unit 2305-7 Rockford, IL	2.0	1.0	875	$995	$1.14	45d	1	1.38mi
2222 Andrews St Rockford, IL	4.0	1.0	1400	$1,600	$1.14	15d	1	1.43mi
901 N Horace Ave Rockford, IL	3.0	2.0	1400	$1,700	$1.21	15d	1	1.48mi

Listing history 7 events

1. 2026-06-16
   days on market $63,500 Active 8 DOM
2. 2026-06-15
   days on market $63,500 Active 7 DOM
3. 2026-06-14
   days on market $63,500 Active 5 DOM
4. 2026-06-13
   days on market $63,500 Active 4 DOM
5. 2026-06-10
   days on market $63,500 Active 2 DOM
6. 2026-06-09
   remarks 532-char remark
7. 2026-06-09
   listed $63,500 Active 1 DOM

ⓘ 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: $1,528 · $127/mo
• Projected year-2 tax: $1,528 · $127/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $16,327
• − Mortgage interest: −$3,557
• − Property taxes: −$1,528
• − Insurance: −$318
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$1,847
• Taxable income: $6,465
• Est. tax owed @ 24.0%: −$1,552
• After-tax cash flow: $5,505/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

-16.4% since first listed

5 events — show timeline

• 2026-06-08 Listed $63,500 NWIAR
• 1992-10-30 Sold (Public Records) $50,000 Public Records
• 1992-10-30 Sold (Public Records) $50,000 Public Records
• 1989-05-25 Sold (Public Records) $76,000 Public Records
• 1989-05-25 Sold (Public Records) $76,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,528 · +1196.9% YoY. Source: county tax records.