2320 Jonathan Ave · Rockford, IL 61103

$159,000

3 bd · 1.0 ba · 1,268 sqft · SingleFamily · 21 Days on market

Built 1957 8,276 sqft lot Est $162k · at est.

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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 +15.7/30.0
• ARV discount +8.4/15.0
• DSCR +4.9/10.0
• Rent growth +4.5/5.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

Key facts

• Updated bath
• Back deck
• Updated kitchen

Tags

• REMODELED HOME
• BACK DECK
• UPDATED KITCHEN
• UPDATED BATH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $71 ($855/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 $141k (11.2% below list).
• Recommended offer: $141k (11.2% 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: 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); 105 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 33% 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 21 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,231 (11.2% below list)

Questions for the listing agent

1. Built in 1957 — 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: 0.89% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $162,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2328 Pierce Ave	0.07mi	3/2.0	1,187 (-6%)	4mo	$129,000	$109	79
2023 Crestwood Ave	0.26mi	3/1.0	1,447 (+14%)	1mo	$195,000	$135	64
2616 Karen Dr	0.47mi	3/2.0	1,180 (-7%)	1mo	$205,000	$174	62
3507 Packard Pkwy	0.50mi	3/2.0	1,196 (-6%)	2mo	$176,000	$147	61
2807 Carmac Rd	0.61mi	3/1.5	1,330 (+5%)	1mo	$190,000	$143	60
1630 Jonathan Ave	0.51mi	3/1.0	1,352 (+7%)	6mo	$219,000	$162	60
1908 W Pearl Ave	0.33mi	3/1.0	1,456 (+15%)	0mo	$85,000	$58	60
2612 Glenwood Ave	0.48mi	3/1.0	1,166 (-8%)	6mo	$143,000	$123	59
1507 Barton Blvd	0.66mi	3/1.0	1,334 (+5%)	6mo	$139,900	$105	55
2707 Ridge Ave	0.51mi	4/1.0 (+1)	1,117 (-12%)	2mo	$125,000	$112	50
3415 Huffman Blvd	0.49mi	3/2.0	1,428 (+13%)	4mo	$183,000	$128	48
3432 N Court St	0.62mi	3/1.5	1,439 (+14%)	2mo	$141,000	$98	45

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: -8.0%
• Equity multiple: 0.69×
• Total profit: $-13,774
• Equity at exit: $23,707

10-year hold

• IRR: 6.8%
• Equity multiple: 1.62×
• Total profit: $27,773
• Equity at exit: $13,747

Cash invested: $44,520 (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: 105
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$834
• Tax from tax record: −$144 /mo · $1,733/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $71

Break-even live

Break-even rent $1,322

Max offer price $159,000

Occupancy floor 90%

Sensitivity live

Price	-10% $161	-5% $116	+0% $71	+5% $26	+10% $-19
Rent	-10% $-40	-5% $15	+0% $71	+5% $127	+10% $183
Rate	-1.0pp $151	-0.5pp $112	base $71	+0.5pp $30	+1.0pp $-12

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2535 Halsted Rd Rockford, IL	3.0	1.0–1.5	850	$1,399	$1.65	15d	1	0.33mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	45d	1	0.34mi
2019 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.34mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,500	$1.71	23d	1	0.43mi
1823 Overdene Ave Rockford, IL	3.0	1.0	875	$1,400	$1.60	15d	1	0.43mi
3007 Huffman Blvd Rockford, IL	3.0	1.5	1296	$1,450	$1.12	45d	1	0.49mi
3936 Eagle Dr Rockford, IL	1.0–2.0	1.0	712	$999	$1.40	15d	1	0.65mi
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	15d	1	0.81mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$1,199	$1.26	15d	1	0.99mi
2308 Fremont St Rockford, IL	3.0	1.0	1320	$1,600	$1.21	45d	1	1.02mi
2208 Fremont St Rockford, IL	3.0	1.0	938	$1,400	$1.49	15d	1	1.07mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	45d	1	1.23mi
1832 N Main St Rockford, IL	2.0–3.0	1.0–2.0	872	$1,199	$1.37	15d	1	1.28mi
3701 Trilling Ave Unit 3701-104 Rockford, IL	3.0	1.0	1100	$1,345	$1.22	15d	1	1.30mi
2422 Benderwirt Ave Unit 2422-1 Rockford, IL	2.0	1.0	1150	$1,025	$0.89	45d	1	1.36mi
1617 Vermont St Rockford, IL	2.0	1.0	1375	$1,325	$0.96	45d	1	1.38mi
1405 N Court St Unit 1407 Rockford, IL	2.0	1.0	1530	$1,100	$0.72	45d	1	1.45mi

Listing history 12 events

1. 2026-01-20
   soldstatus $158,000
2. 2025-12-12
   status Pending
3. 2025-11-25
   price $159,000
4. 2025-11-21
   listed $169,000 Active
5. 2016-09-23
   soldstatus $24,100 Closed Sale 332-char remark

   Show marketing remark (332 chars)

   This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

6. 2016-09-23
   soldstatus $24,100 332-char remark

   Show marketing remark (332 chars)

   This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

7. 2016-08-31
   status Pending 332-char remark

   Show marketing remark (332 chars)

   This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

8. 2016-08-16
   listed $24,500 New 332-char remark

   Show marketing remark (332 chars)

   This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

9. 2016-08-16
   listed $24,500 332-char remark

   Show marketing remark (332 chars)

   This ranch home has hardwood floors. The kitchen has a counter cook top and a built in oven. There is a rec room in the basement. The bedroom off the kitchen could be used as a dining room and has sliding doors to the fenced backyard. 1.5 car det gar. Located near N Rockton Ave and Halsted. Schedule your showing today. LD 8/15/16.

10. 2006-10-25
    soldstatus $64,000
11. 1996-01-26
    soldstatus $49,000
12. 1996-01-26
    soldstatus $49,000

ⓘ 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: $1,733 · $144/mo
• Projected year-2 tax: $2,671 · $223/mo
• Expected delta: +$938/yr (+$78/mo · 54.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% 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: $16,948
• − Mortgage interest: −$8,906
• − Property taxes: −$1,733
• − Insurance: −$795
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,625
• Taxable loss: −$1,824
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $1,293/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

+222.4% since first listed

12 events — show timeline

• 2026-01-20 Sold (Public Records) $158,000 Public Records
• 2025-12-12 Pending — NWIAR
• 2025-11-25 Price Changed $159,000 NWIAR
• 2025-11-21 Listed $169,000 NWIAR
• 2016-09-23 Sold (MLS) $24,100 MRED as Distributed by MLS Grid
• 2016-09-23 Sold (MLS) $24,100 NWIAR
• 2016-08-31 Pending — MRED as Distributed by MLS Grid
• 2016-08-16 Listed $24,500 MRED as Distributed by MLS Grid
• 2016-08-16 Listed $24,500 NWIAR
• 2006-10-25 Sold (Public Records) $64,000 Public Records
• 1996-01-26 Sold (Public Records) $49,000 Public Records
• 1996-01-26 Sold (Public Records) $49,000 Public Records

Property tax history

-1.4%/yr

Latest (2024): $1,733 · +12.6% YoY. Source: county tax records.