3311 Constance Dr · Rockford, IL 61108

$144,900

2 bd · 1.0 ba · 1,329 sqft · SingleFamily · 7 Days on market

Built 1958 436 sqft lot Est $177k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.9/30.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• DSCR +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1-bedroom, 1-bath home featuring a 1-car garage, spacious yard, and full basement for added storage or flexible living space. Enjoy a large outdoor area perfect for entertaining, gardening, or relaxing. The basement offers endless possibilities for a recreation room, home office, workout area, or additional storage. A great opportunity for first-time buyers, downsizers, or investors alike!

Key facts

• Spacious yard
• Recreation room
• Workout area

Tags

• SPACIOUS YARD
• FULL BASEMENT
• LARGE OUTDOOR AREA
• RECREATION ROOM
• HOME OFFICE
• WORKOUT AREA

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (house); Residential property
• Exterior features: Shingle roof; Public water; Public sewer

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas cooktop; Refrigerator; Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $16 ($192/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (6.6% below list).
• Recommended offer: $135k (6.6% below list) — sets the bar for 1% rule.

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: Rents rising fast (+8.1%/yr); 114 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k 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.

Negotiation context

• Only 7 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.
• Current owner paid $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,398 (6.6% below list)

Questions for the listing agent

1. Built in 1958 — 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: 0.93% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $176,757
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3713 Connecticut Dr	0.39mi	3/1.0 (+1)	1,320 (-1%)	6mo	$185,000	$140	71
2029 24th St	0.63mi	2/1.0	1,320 (-1%)	6mo	$150,000	$114	64
2019 Montana Ave	0.43mi	3/1.0 (+1)	1,244 (-6%)	2mo	$179,000	$144	63
3519 Thelma St	0.25mi	3/1.5 (+1)	1,198 (-10%)	3mo	$175,000	$146	62
4120 Yale Dr	0.61mi	3/1.0 (+1)	1,295 (-3%)	0mo	$165,500	$128	62
2111 23rd St	0.66mi	3/1.0 (+1)	1,320 (-1%)	2mo	$145,730	$110	61
2215 Colorado Ave	0.41mi	3/1.0 (+1)	1,420 (+7%)	4mo	$185,000	$130	61
2212 Colorado Ave	0.44mi	3/1.0 (+1)	1,233 (-7%)	2mo	$160,000	$130	61
2330 Colorado Ave	0.33mi	3/2.0 (+1)	1,176 (-12%)	4mo	$156,000	$133	54
2015 Oregon Ave	0.57mi	3/1.0 (+1)	1,249 (-6%)	6mo	$165,000	$132	53
2025 24th St	0.63mi	2/1.0	1,164 (-12%)	3mo	$170,000	$146	47
2818 Carol Pl	0.74mi	3/2.0 (+1)	1,256 (-6%)	2mo	$250,000	$199	46

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: -9.8%
• Equity multiple: 0.62×
• Total profit: $-15,250
• Equity at exit: $21,605

10-year hold

• IRR: 5.6%
• Equity multiple: 1.51×
• Total profit: $20,817
• Equity at exit: $12,528

Cash invested: $40,572 (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 61108

• Home prices YoY: -29.2%
• Rents YoY: 8.1%
• Active inventory: 114
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$760
• Tax from tax record: −$233 /mo · $2,800/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $16

Break-even live

Break-even rent $1,334

Max offer price $144,900

Occupancy floor 94%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2723 Silent Wood Trl Unit 2735-7 Rockford, IL	3.0	1.5	1050	$1,310	$1.25	20d	1	0.43mi
3902 15th Ave Unit 3902-7 Rockford, IL	2.0	1.0	900	$1,375	$1.53	20d	1	1.07mi
4960 Hinsdale Ave Rockford, IL	2.0	1.0	900	$1,100	$1.22	43d	1	1.29mi
4960 Hinsdale Ave Unit 8 8 Rockford, IL	2.0	1.5	900	$1,100	$1.22	43d	1	1.29mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	20d	1	1.35mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	1.36mi

Listing history 7 events

1. 2026-06-19
   days on market $144,900 Active 7 DOM
2. 2026-06-18
   days on market $144,900 Active 6 DOM
3. 2026-06-17
   days on market $144,900 Active 5 DOM
4. 2026-06-16
   days on market $144,900 Active 4 DOM
5. 2026-06-15
   days on market $144,900 Active 3 DOM
6. 2026-06-13
   remarks 401-char remark
7. 2026-06-13
   listed $144,900 Active 1 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: $2,800 · $233/mo
• Projected year-2 tax: $3,045 · $254/mo
• Expected delta: +$244/yr (+$20/mo · 8.7%)

ⓘ 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 ≥101°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: $16,248
• − Mortgage interest: −$8,117
• − Property taxes: −$2,800
• − Insurance: −$724
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$4,215
• Taxable loss: −$2,209
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $723/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): 30,355
• Household income: $64,415
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1199.0

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 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Black 11% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 18% Puerto Rican 2%
• Common ancestry: Romanian 3% Portuguese 3% Arab 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 75% English-only · Spanish 16% Arabic 3% Other Asian/Pacific 2%

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: ▼ -90.38%
• Current HPI: 218.6339
• 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

+149.8% since first listed

6 events — show timeline

• 2026-06-12 Listed $144,900 NWIAR
• 2026-06-12 Listed $144,900 MRED as Distributed by MLS Grid
• 2002-12-04 Sold (Public Records) $80,000 Public Records
• 2001-08-23 Sold (Public Records) $70,000 Public Records
• 1994-07-18 Sold (Public Records) $58,000 Public Records
• 1994-07-18 Sold (Public Records) $58,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $2,800 · +6.1% YoY. Source: county tax records.