231 Sheridan Dr · Loves Park, IL 61111

$125,000

4 bd · 1.0 ba · 1,508 sqft · SingleFamily · 3 Days on market

Built 1951 Fair condition 7,405 sqft lot Est $187k · 33% under

---

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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SBR

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1951

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (house); One story
• Construction: Below-grade finished area (basement) approx. 400
• Exterior features: Shingle roof; Lot approximately 0.17 acres

Interior

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

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 9.9% vs local median 4.9% in Loves Park — 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 74/100 on livability (#255 in IL, #4,724 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Harlem UD 122 (suburban): math 17% / reading 23% proficiency, ranked #418 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Loves Park Elem School (math 17% / reading 22%, grade F, #1,054 of 2,056 statewide, top 54%, 351 students, 0% FRL); Harlem High School (math 18% / reading 23%, grade F, #350 of 693 statewide, top 51%, 1,875 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 93 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $73k; list at $125k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.26% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.06%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $186,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Sheridan Dr	0.00mi	4/1.0	1,508 (0%)	1mo	$120,000	$80	100
342 Grand Blvd	0.23mi	4/2.0	1,476 (-2%)	0mo	$183,000	$124	81
221 Belteberg Rd	0.25mi	3/1.0 (-1)	1,504 (-0%)	8mo	$129,900	$86	77
251 Merrill Ave	0.26mi	3/2.0 (-1)	1,548 (+3%)	2mo	$228,000	$147	73
6117 East Dr	0.26mi	3/1.0 (-1)	1,350 (-10%)	9mo	$190,000	$141	58
5521 East Dr	0.30mi	3/3.0 (-1)	1,424 (-6%)	8mo	$190,000	$133	57
242 River Ln	0.29mi	3/1.5 (-1)	1,350 (-10%)	8mo	$35,000	$26	56
412 Merrill Ave	0.33mi	3/1.5 (-1)	1,330 (-12%)	9mo	$190,000	$143	50
336 Belteberg Rd	0.32mi	3/2.0 (-1)	1,300 (-14%)	4mo	$230,000	$177	50
508 Grand Ave	0.39mi	3/1.0 (-1)	1,294 (-14%)	4mo	$160,000	$124	49
240 W Renrose Ave	0.39mi	3/1.0 (-1)	1,308 (-13%)	7mo	$140,000	$107	49
6327 1st St	0.73mi	3/1.5 (-1)	1,532 (+2%)	9mo	$177,000	$116	49

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $4,026
• Equity at exit: $18,638

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $34,838
• Equity at exit: $10,808

Cash invested: $35,000 (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 61111

• Active inventory: 93
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $381

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 71%

Sensitivity live

Price	-10% $467	-5% $424	+0% $381	+5% $338	+10% $294
Rent	-10% $256	-5% $319	+0% $381	+5% $443	+10% $505
Rate	-1.0pp $444	-0.5pp $413	base $381	+0.5pp $348	+1.0pp $316

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	14d	1	0.47mi
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	14d	1	0.87mi
4719 Illinois St Loves Park, IL	3.0	1.0	1188	$1,600	$1.35	14d	1	1.16mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	44d	1	1.41mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	44d	1	1.48mi

Listing history 6 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $125,000 Active
3. 2022-01-28
   soldstatus $72,866 3-char remark

   Show marketing remark (3 chars)

   SBR

4. 2022-01-28
   listed $72,866 3-char remark

   Show marketing remark (3 chars)

   SBR

5. 2017-03-16
   soldstatus $42,500 341-char remark

   Show marketing remark (341 chars)

   This house has 4 bedrooms, a huge living room, and a full basement. The large backyard is mostly fenced and has a 2 car garage. The siding and roof look to be in very good shape. there are hardwoods under the carpet throughout the main level. This house needs some work, but there are a lot of pros and someone can make this a fabulous home.

6. 2017-02-11
   listed $54,900 341-char remark

   Show marketing remark (341 chars)

   This house has 4 bedrooms, a huge living room, and a full basement. The large backyard is mostly fenced and has a 2 car garage. The siding and roof look to be in very good shape. there are hardwoods under the carpet throughout the main level. This house needs some work, but there are a lot of pros and someone can make this a fabulous home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $18,907
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$3,636
• Taxable income: $2,744
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $3,912/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This single-family home requires moderate renovations to improve its exterior, interior, and landscaping, significantly increasing its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major flooring — Worn carpet
• Major interior walls — Peeling paint

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and value
• Both Flooring replacement — Improves living space and rental appeal
• Both Interior painting — Freshens the home and enhances rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and value ↑
• Both Flooring replacement — Improves living space and rental appeal ↑
• Both Interior painting — Freshens the home and enhances rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Harlem UD 122
• NCES district ID: 1718240
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $51,228
• Composite: 18.01/100
• National rank: #8982
• State rank: #418 of 620 in IL

Livability — Loves Park

• Score: 74/100
• State rank: #255
• US rank: #4724

Category grades

Amenities C Commute F Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loves Park, IL
• City population: 22,838
• Population (ZIP): 22,838

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 (70%)
• Race & ethnicity: White 70% Two or more races 11% Hispanic / Latino 9% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 4% Portuguese 3% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 3% 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: ▼ -125.48%
• Current HPI: 222.3872
• Rent YoY: —
• Metro: —
• 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

+127.7% since first listed

6 events — show timeline

• 2026-05-15 Pending — NWIAR
• 2026-05-12 Listed $125,000 NWIAR
• 2022-01-28 Listed $72,866 NWIAR
• 2022-01-28 Sold (MLS) $72,866 NWIAR
• 2017-03-16 Sold (MLS) $42,500 NWIAR
• 2017-02-11 Listed $54,900 NWIAR