1130 Sherman Ave · Rockford, IL 61101

$114,800

2 bd · 2.0 ba · 1,026 sqft · SingleFamily · 14 Days on market

Built 1955 8,276 sqft lot Est $91k · 26% over

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Why this score? — see what drove the D+ 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 +23.2/30.0
• DSCR +7.5/10.0
• 1% rule +5.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this 2-bedroom, 2-bathroom property that offers both comfort and opportunity. Inside, hardwood floors create a warm, inviting atmosphere. Outside, a generously sized, freshly painted deck awaits - perfect for weekend relaxation or entertaining friends and neighbors. This home also doubles as a smart investment, with dependable long-term tenants already in place on a month-to-month lease. Whether you are building your real estate portfolio or searching for a cozy place to call your own, this home delivers on every front.

Key facts

• Freshly painted deck
• Hardwood floors
• 8,276 sq ft lot

Tags

• HARDWOOD FLOORS
• FRESHLY PAINTED DECK

Property features AI

Finance

• Other: Annual tax amount: $1,589

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (house); Residential property
• Construction: Below-grade finished area; Finished below-grade area ~140
• Exterior features: Shingle roof; 0.19-acre lot

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Gas cooktop, Refrigerator, Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• 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: 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; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 32% 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 $794 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,800

Questions for the listing agent

1. Built in 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 8.47%
• Cash-on-cash: 7.77%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $91,314
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 N Horsman St	0.54mi	3/1.0 (+1)	1,008 (-2%)	0mo	$35,000	$35	62
2828 Ridgeway Ave	0.63mi	2/1.0	1,009 (-2%)	7mo	$90,000	$89	58
920 Oakley Ave	0.38mi	3/2.0 (+1)	900 (-12%)	3mo	$128,000	$142	54
1611 N Horsman St	0.58mi	2/1.5	1,114 (+9%)	7mo	$123,750	$111	50
1619 Evergreen St	0.55mi	2/1.0	1,116 (+9%)	8mo	$61,500	$55	49
444 Forest Ave	0.33mi	3/1.5 (+1)	875 (-15%)	5mo	$44,000	$50	49
3529 Blackstone Ave	0.63mi	2/1.0	925 (-10%)	3mo	$36,000	$39	47
3208 Liberty Dr	0.45mi	3/1.0 (+1)	1,148 (+12%)	4mo	$123,000	$107	47
2903 Yonge St	0.52mi	3/1.0 (+1)	1,116 (+9%)	11mo	$108,500	$97	43
2928 Ridgeway Ave	0.60mi	3/1.0 (+1)	936 (-9%)	10mo	$119,900	$128	40
1029 Woodlawn Ave	0.66mi	3/1.0 (+1)	1,121 (+9%)	11mo	$70,666	$63	36
2917 Lawndale Ave	0.74mi	3/1.0 (+1)	1,178 (+15%)	1mo	$81,000	$69	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-5,333
• Equity at exit: $17,117

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $12,468
• Equity at exit: $9,926

Cash invested: $32,144 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,248 high
• Mortgage (P&I): −$602
• Tax from tax record: −$128 /mo · $1,530/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $208

Break-even live

Break-even rent $984

Max offer price $114,800

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: $28,700
• Closing costs: $3,444
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	13d	1	0.22mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	43d	1	0.35mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	20d	1	0.37mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	13d	1	0.42mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	43d	1	0.42mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	43d	1	0.48mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	13d	1	0.55mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	43d	1	0.62mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	43d	1	0.67mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$999	$1.05	13d	1	0.80mi
2305 School St Unit 2305-7 Rockford, IL	2.0	1.0	875	$995	$1.14	43d	1	0.84mi
2008 Auburn St Unit 2008-1E Rockford, IL	1.0	1.0	850	$925	$1.09	20d	1	0.96mi
1826 Green St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	20d	1	1.00mi
1904 Auburn St Unit 1904-2 Rockford, IL	1.0	1.0	700	$950	$1.36	44d	1	1.03mi
1904 Auburn St Unit 1904-4 Rockford, IL	2.0	1.0	800	$1,050	$1.31	43d	1	1.03mi
920 N Church St Rockford, IL	2.0	1.0	750	$1,295	$1.73	13d	4	1.05mi
922 N Church St Rockford, IL	2.0	2.0	1150	$1,450	$1.26	43d	1	1.07mi
2403 Elm St Rockford, IL	2.0	1.0	1373	$1,400	$1.02	43d	1	1.07mi
2403 Elm St Rockford, IL	2.0	1.0	1373	$1,400	$1.02	13d	1	1.07mi
901 N Horace Ave Rockford, IL	3.0	2.0	1400	$1,700	$1.21	13d	1	1.11mi
939 N Church St Unit 939-9 Rockford, IL	1.0	1.0	750	$925	$1.23	43d	1	1.12mi
2315 Green St Rockford, IL	3.0	1.0	1290	$1,600	$1.24	43d	1	1.16mi
929 N Main St Rockford, IL	1.0	1.0	662	$999	$1.51	13d	1	1.17mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	20d	1	1.20mi
1121 N Church St Rockford, IL	2.0	1.0	900	$1,200	$1.33	20d	1	1.22mi
1401 N Court St Rockford, IL	2.0	1.0	850	$950	$1.12	43d	1	1.23mi
203 Carlton Ter Rockford, IL	2.0	1.0	900	$1,250	$1.39	20d	1	1.24mi
226 S Main St Rockford, IL	1.0	1.0	1066	$1,560	$1.46	13d	3	1.25mi

Listing history 13 events

1. 2026-06-08
   days on market $114,800 Active 14 DOM
2. 2026-06-07
   days on market $114,800 Active 13 DOM
3. 2026-06-03
   days on market $114,800 Active 9 DOM
4. 2026-06-02
   days on market $114,800 Active 8 DOM
5. 2026-06-01
   days on market $114,800 Active 7 DOM
6. 2026-05-31
   days on market $114,800 Active 6 DOM
7. 2026-05-30
   days on market $114,800 Active 5 DOM
8. 2026-05-25
   listed $114,800 Active

   Show marketing remark (541 chars)

   Welcome home to this 2-bedroom, 2-bathroom property that offers both comfort and opportunity. Inside, hardwood floors create a warm, inviting atmosphere. Outside, a generously sized, freshly painted deck awaits - perfect for weekend relaxation or entertaining friends and neighbors. This home also doubles as a smart investment, with dependable long-term tenants already in place on a month-to-month lease. Whether you are building your real estate portfolio or searching for a cozy place to call your own, this home delivers on every front.

9. 2026-05-25
   listed $114,800 Active 541-char remark

   Show marketing remark (541 chars)

   Welcome home to this 2-bedroom, 2-bathroom property that offers both comfort and opportunity. Inside, hardwood floors create a warm, inviting atmosphere. Outside, a generously sized, freshly painted deck awaits - perfect for weekend relaxation or entertaining friends and neighbors. This home also doubles as a smart investment, with dependable long-term tenants already in place on a month-to-month lease. Whether you are building your real estate portfolio or searching for a cozy place to call your own, this home delivers on every front.

10. 2025-09-11
    soldstatus $109,000
11. 1990-10-03
    soldstatus $23,000
12. 1990-10-03
    soldstatus $29,000
13. 1990-10-03
    soldstatus $29,000

ⓘ 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: $1,530 · $128/mo
• Projected year-2 tax: $2,068 · $172/mo
• Expected delta: +$538/yr (+$45/mo · 35.1%)

ⓘ 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: $14,971
• − Mortgage interest: −$6,431
• − Property taxes: −$1,530
• − Insurance: −$574
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$3,340
• Taxable income: $701
• Est. tax owed @ 24.0%: −$168
• After-tax cash flow: $2,330/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

+399.1% since first listed

6 events — show timeline

• 2026-05-25 Listed $114,800 NWIAR
• 2026-05-25 Listed $114,800 MRED as Distributed by MLS Grid
• 2025-09-11 Sold (Public Records) $109,000 Public Records
• 1990-10-03 Sold (Public Records) $29,000 Public Records
• 1990-10-03 Sold (Public Records) $29,000 Public Records
• 1990-10-03 Sold (Public Records) $23,000 Public Records

Property tax history

+5.5%/yr

Latest (2024): $1,530 · +3.5% YoY. Source: county tax records.