1002 N Day Ave · Rockford, IL 61101

$109,000

4 bd · 4.0 ba · 1,204 sqft · MultiFamily · 15 Days on market

Built 1965 9,583 sqft lot

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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: 2 units. confirmed

Listing remarks

2 unit duplex. Each unit has one bedroom and one bathroom with a basement with another semifinished room and storage area with utilities. Both units are currently occupied with long term renters.

Key facts

• Basement
• Semifinished room
• Storage area

Tags

• DUPLEX
• BASEMENT
• SEMIFINISHED ROOM
• STORAGE AREA

Property features AI

Exterior

• Home design: Multi-family property
• Construction: Living area about 1,204 sq.ft.
• Exterior features: Lot of approximately 9,583 sq.ft.

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $109k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive. Per door: $430/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $107k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $2,110/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 $754 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Recommended offer $107,365 (1.5% 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 1965 — 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. 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 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: 1.94% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.85%
• DSCR: 2.51
• GRM: 4.3

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: 29.2%
• Equity multiple: 2.22×
• Total profit: $37,238
• Equity at exit: $16,252

10-year hold

• IRR: 36.6%
• Equity multiple: 4.38×
• Total profit: $103,298
• Equity at exit: $9,424

Cash invested: $30,520 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,110 high
• Mortgage (P&I): −$572
• Tax from tax record: −$189 /mo · $2,267/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $861

Break-even live

Break-even rent $1,020

Max offer price $109,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,110
Total (2 units)			$2,110

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 N Horace Ave Rockford, IL	3.0	2.0	1400	$1,700	$1.21	13d	1	0.10mi
3016 School St Rockford, IL	4.0	1.0	1090	$1,400	$1.28	44d	1	0.47mi
2222 Andrews St Rockford, IL	4.0	1.0	1400	$1,600	$1.14	13d	1	0.59mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	44d	1	0.60mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	44d	1	0.87mi
2315 Green St Rockford, IL	3.0	1.0	1290	$1,600	$1.24	44d	1	0.94mi
207 N Central Ave Rockford, IL	4.0	1.5	1296	$1,500	$1.16	13d	1	0.94mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	13d	1	0.98mi
210 Irving Ave Rockford, IL	5.0	1.0	1202	$1,850	$1.54	44d	1	1.02mi
1146 Fairview Ave Rockford, IL	4.0	1.5	1344	$1,250	$0.93	21d	1	1.09mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	13d	1	1.25mi
3834 Preston St Rockford, IL	3.0	1.0	912	$1,300	$1.43	13d	1	1.36mi

Listing history 12 events

1. 2026-06-19
   days on market $109,000 Active 15 DOM
2. 2026-06-18
   days on market $109,000 Active 14 DOM
3. 2026-06-17
   days on market $109,000 Active 13 DOM
4. 2026-06-16
   days on market $109,000 Active 12 DOM
5. 2026-06-15
   days on market $109,000 Active 11 DOM
6. 2026-06-14
   days on market $109,000 Active 9 DOM
7. 2026-06-13
   days on market $109,000 Active 8 DOM
8. 2026-06-10
   days on market $109,000 Active 6 DOM
9. 2026-06-09
   days on market $109,000 Active 5 DOM
10. 2026-06-08
    days on market $109,000 Active 4 DOM
11. 2026-06-07
    remarks 195-char remark
12. 2026-06-07
    listed $109,000 Active 3 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: $2,267 · $189/mo
• Projected year-2 tax: $2,370 · $198/mo
• Expected delta: +$104/yr (+$9/mo · 4.6%)

ⓘ 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: $25,320
• − Mortgage interest: −$6,106
• − Property taxes: −$2,267
• − Insurance: −$545
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$3,171
• Taxable income: $9,181
• Est. tax owed @ 24.0%: −$2,203
• After-tax cash flow: $8,129/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

1 event — show timeline

• 2026-06-04 Listed $109,000 ForSaleByOwner.com

Property tax history

+1.3%/yr

Latest (2025): $2,267 · +3.8% YoY. Source: county tax records.