3016 Latham St · Rockford, IL 61103

$140,000

3 bd · 1.0 ba · 1,589 sqft · SingleFamily · 7 Days on market

Built 1950 7,405 sqft lot Est $167k · 16% 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 +23.3/30.0
• ARV discount +14.7/15.0
• DSCR +7.5/10.0
• 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 MLS

Boasting a generous footprint of over 1500 square feet, this residence invites you in with its sophisticated open-concept architecture. The floor plan transitions gracefully from a formal living room into an expansive formal dining area, creating an ideal environment for hosting guests. The substantial eat-in kitchen serves as a central hub, leading effortlessly to a cozy first-floor family room. The home’s versatility is highlighted by its first-floor master suite and a stunningly remodeled bathroom with contemporary finishes. Unique features include a charming breezeway-style porch connecting the main house to the 2-car garage, and a private, fenced-in rear oasis. Experience the perfect blend of traditional formal spaces and modern functionality.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.5% 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: West View Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 420 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 students, 0% FRL); Auburn High School (math 26% / reading 32%, grade F, #210 of 693 statewide, top 30%, 1,936 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: Rents rising fast (+8.1%/yr); 103 active listings in the ZIP; 8 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; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($51k/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 $968 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $140,000

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: 1.09% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.82%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $166,845
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3422 Fremont St	0.39mi	3/2.0	1,689 (+6%)	1mo	$190,000	$112	67
1908 W Pearl Ave	0.41mi	3/1.0	1,456 (-8%)	0mo	$85,000	$58	67
3423 N Church St	0.37mi	2/1.5 (-1)	1,672 (+5%)	1mo	$176,000	$105	66
3432 N Court St	0.43mi	3/1.5	1,439 (-9%)	2mo	$141,000	$98	61
1502 River Bluff Blvd	0.57mi	3/1.5	1,497 (-6%)	2mo	$161,000	$108	60
2023 Crestwood Ave	0.55mi	3/1.0	1,447 (-9%)	0mo	$195,000	$135	59
2312 Jonathan Ave Ave	0.67mi	3/1.5	1,466 (-8%)	3mo	$116,000	$79	52
3535 Latham St	0.56mi	3/1.0	1,811 (+14%)	1mo	$207,000	$114	49
915 Van Wie Ave	0.68mi	3/2.5	1,480 (-7%)	2mo	$98,000	$66	49
2103 N Court St	0.75mi	3/1.0	1,450 (-9%)	4mo	$130,000	$90	48
1420 Notre Dame Rd	0.73mi	3/2.0	1,782 (+12%)	2mo	$190,000	$107	40
2216 Dresden Ave	0.70mi	2/2.0 (-1)	1,820 (+14%)	4mo	$155,000	$85	31

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,642
• Equity at exit: $20,874

10-year hold

• IRR: 15.1%
• Equity multiple: 2.51×
• Total profit: $59,075
• Equity at exit: $12,105

Cash invested: $39,200 (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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 103
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$734
• Tax from tax record: −$156 /mo · $1,875/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $255

Break-even live

Break-even rent $1,201

Max offer price $140,000

Occupancy floor 78%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	43d	1	0.30mi
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	13d	1	0.36mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	43d	1	0.62mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	13d	1	0.85mi
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	13d	1	0.94mi
1405 N Court St Unit 1407 Rockford, IL	2.0	1.0	1530	$1,100	$0.72	43d	1	1.28mi
4719 Illinois St Loves Park, IL	3.0	1.0	1188	$1,600	$1.35	13d	1	1.29mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	43d	1	1.48mi

Listing history 8 events

1. 2026-04-27
   status Pending

   Show marketing remark (764 chars)

   Boasting a generous footprint of over 1500 square feet, this residence invites you in with its sophisticated open-concept architecture. The floor plan transitions gracefully from a formal living room into an expansive formal dining area, creating an ideal environment for hosting guests. The substantial eat-in kitchen serves as a central hub, leading effortlessly to a cozy first-floor family room. The home’s versatility is highlighted by its first-floor master suite and a stunningly remodeled bathroom with contemporary finishes. Unique features include a charming breezeway-style porch connecting the main house to the 2-car garage, and a private, fenced-in rear oasis. Experience the perfect blend of traditional formal spaces and modern functionality.

2. 2026-04-27
   status Pending 764-char remark

   Show marketing remark (764 chars)

   Boasting a generous footprint of over 1500 square feet, this residence invites you in with its sophisticated open-concept architecture. The floor plan transitions gracefully from a formal living room into an expansive formal dining area, creating an ideal environment for hosting guests. The substantial eat-in kitchen serves as a central hub, leading effortlessly to a cozy first-floor family room. The home’s versatility is highlighted by its first-floor master suite and a stunningly remodeled bathroom with contemporary finishes. Unique features include a charming breezeway-style porch connecting the main house to the 2-car garage, and a private, fenced-in rear oasis. Experience the perfect blend of traditional formal spaces and modern functionality.

3. 2026-04-20
   listed $140,000 Active 764-char remark

   Show marketing remark (764 chars)

   Boasting a generous footprint of over 1500 square feet, this residence invites you in with its sophisticated open-concept architecture. The floor plan transitions gracefully from a formal living room into an expansive formal dining area, creating an ideal environment for hosting guests. The substantial eat-in kitchen serves as a central hub, leading effortlessly to a cozy first-floor family room. The home’s versatility is highlighted by its first-floor master suite and a stunningly remodeled bathroom with contemporary finishes. Unique features include a charming breezeway-style porch connecting the main house to the 2-car garage, and a private, fenced-in rear oasis. Experience the perfect blend of traditional formal spaces and modern functionality.

4. 2026-04-20
   listed $140,000 Active

   Show marketing remark (764 chars)

   Boasting a generous footprint of over 1500 square feet, this residence invites you in with its sophisticated open-concept architecture. The floor plan transitions gracefully from a formal living room into an expansive formal dining area, creating an ideal environment for hosting guests. The substantial eat-in kitchen serves as a central hub, leading effortlessly to a cozy first-floor family room. The home’s versatility is highlighted by its first-floor master suite and a stunningly remodeled bathroom with contemporary finishes. Unique features include a charming breezeway-style porch connecting the main house to the 2-car garage, and a private, fenced-in rear oasis. Experience the perfect blend of traditional formal spaces and modern functionality.

5. 2024-03-22
   soldstatus $75,000 Closed 266-char remark

   Show marketing remark (266 chars)

   Good square footage, large rooms, main floor master, 2 car garage has single car door, fenced partial yard, clean house but needs some updating. Selling due to estate, being sold "as is". Basement is partial. Newly remodeled bath. Agent related to trustee.

6. 2024-03-22
   soldstatus $75,000

   Show marketing remark (266 chars)

   Good square footage, large rooms, main floor master, 2 car garage has single car door, fenced partial yard, clean house but needs some updating. Selling due to estate, being sold "as is". Basement is partial. Newly remodeled bath. Agent related to trustee.

7. 2024-03-01
   status Pending 266-char remark

   Show marketing remark (266 chars)

   Good square footage, large rooms, main floor master, 2 car garage has single car door, fenced partial yard, clean house but needs some updating. Selling due to estate, being sold "as is". Basement is partial. Newly remodeled bath. Agent related to trustee.

8. 2024-02-26
   listed $75,000 Active 266-char remark

   Show marketing remark (266 chars)

   Good square footage, large rooms, main floor master, 2 car garage has single car door, fenced partial yard, clean house but needs some updating. Selling due to estate, being sold "as is". Basement is partial. Newly remodeled bath. Agent related to trustee.

ⓘ 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: $1,875 · $156/mo
• Projected year-2 tax: $2,526 · $211/mo
• Expected delta: +$652/yr (+$54/mo · 34.8%)

ⓘ 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 3/10 Moderate 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: $18,289
• − Mortgage interest: −$7,842
• − Property taxes: −$1,875
• − Insurance: −$700
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$4,073
• Taxable income: $874
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $2,854/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): 22,869
• Household income: $51,161
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1402.0

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 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 13% Hispanic / Latino 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -81.02%
• Current HPI: 215.8559
• 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

+86.7% since first listed

8 events — show timeline

• 2026-04-27 Pending — MRED as Distributed by MLS Grid
• 2026-04-27 Pending — NWIAR
• 2026-04-20 Listed $140,000 NWIAR
• 2026-04-20 Listed $140,000 MRED as Distributed by MLS Grid
• 2024-03-22 Sold (Public Records) $75,000 Public Records
• 2024-03-22 Sold (MLS) $75,000 NWIAR
• 2024-03-01 Pending — NWIAR
• 2024-02-26 Listed $75,000 NWIAR

Property tax history

+4.4%/yr

Latest (2024): $1,875 · +11.8% YoY. Source: county tax records.