2910 Chatham Ln. Ln · Rockford, IL 61101

$237,000

9 bd · 3.9 ba · — sqft · MultiFamily · 4 Days on market

Built 1800

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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: 3 units. confirmed

Listing remarks MLS

Three unit property in a cul-da-sac close to schools, parks and shopping. Two units with 3 bedrooms, 1 full bath and 1 half bath and one unit with 2 bedrooms, 1 full bath and basement. Sold AS-IS.

Key facts

• Newer roof
• Multifamily property
• New flooring

Tags

• MULTIFAMILY PROPERTY
• NEW FLOORING
• NEWER WINDOWS
• NEWER ROOF
• NEW WATER HEATERS
• FULLY FENCED SHARED BACKYARD

Property features AI

Exterior

• Parking: 3 parking spaces
• Home design: Residential income property; 3–4 unit building
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Heating & cooling: Central air conditioning; Has cooling
• Interior features: Refrigerator; Gas water heater; Central air conditioning
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2×3bd/1.5ba + 1×2bd/1ba units multifamily listed at $237k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $237k).
• Cap rate 14.5% 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: Conklin Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 433 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: 76 active listings in the ZIP; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $4,014/mo this rent would consume 104% 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 $2k of loan paydown is wiped out by about $7k 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 $66k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y 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 $55k; list at $237k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $237,000

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 1800 — 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: 1.69% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.32%
• DSCR: 2.30
• GRM: 4.9

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2804 Searles Ave	0.47mi	8/4.0 (-1)	3,626	12mo	$248,000	$68	50

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: 23.8%
• Equity multiple: 1.98×
• Total profit: $64,875
• Equity at exit: $35,337

10-year hold

• IRR: 31.6%
• Equity multiple: 3.86×
• Total profit: $189,497
• Equity at exit: $20,491

Cash invested: $66,360 (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: 14.2×

Monthly cashflow live

• Estimated rent: $4,014 high
• Mortgage (P&I): −$1,243
• Tax from tax record: −$208 /mo · $2,496/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$843
• Net cashflow: $1,621

Break-even live

Break-even rent $1,962

Max offer price $237,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,778
1× unit	2	1	$1,235
Total (3 units)			$4,014

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: $59,250
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   status $237,000 Pending 4 DOM
2. 2026-06-08
   days on market $237,000 Active 4 DOM
3. 2026-06-07
   remarks 665-char remark
4. 2026-06-07
   listed $237,000 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: $2,496 · $208/mo
• Projected year-2 tax: $3,938 · $328/mo
• Expected delta: +$1,442/yr (+$120/mo · 57.8%)

ⓘ 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 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: $48,168
• − Mortgage interest: −$13,276
• − Property taxes: −$2,496
• − Insurance: −$1,185
• − Repairs & maintenance: −$3,853
• − Management: −$3,853
• − Depreciation: −$6,895
• Taxable income: $16,610
• Est. tax owed @ 24.0%: −$3,986
• After-tax cash flow: $15,471/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

+578.9% since first listed

20 events — show timeline

• 2026-06-04 Listed $237,000 NWIAR
• 2021-06-25 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2021-06-25 Sold (MLS) $55,000 NWIAR
• 2021-04-14 Pending — MRED as Distributed by MLS Grid
• 2021-04-05 Listed $75,000 MRED as Distributed by MLS Grid
• 2021-04-05 Listed $75,000 NWIAR
• 2018-12-19 Sold (MLS) $53,000 NWIAR
• 2018-12-18 Listed $53,000 NWIAR
• 2017-08-02 Sold (Public Records) $55,000 Public Records
• 2017-07-31 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2017-07-31 Sold (MLS) $55,000 NWIAR
• 2017-07-24 Pending — MRED as Distributed by MLS Grid
• 2017-03-30 Price Changed $59,000 MRED as Distributed by MLS Grid
• 2017-03-27 Price Changed $69,000 MRED as Distributed by MLS Grid
• 2017-03-26 Price Changed $59,000 MRED as Distributed by MLS Grid
• 2016-12-02 Listed $69,900 MRED as Distributed by MLS Grid
• 2016-12-02 Listed $59,000 NWIAR
• 2016-05-19 Sold (Public Records) $26,000 Public Records
• 2016-05-16 Sold (MLS) $26,000 NWIAR
• 2016-04-22 Listed $34,909 NWIAR

Property tax history

-1.7%/yr

Latest (2025): $2,496 · +3.8% YoY. Source: county tax records.