902 10th Ave · Rockford, IL 61104

$140,000

3 bd · 1.0 ba · 2,250 sqft · SingleFamily · 27 Days on market

Built 1950 5,663 sqft lot $62/sqft · 69% above area ↓ 7% since listing

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Why this score? — see what drove the C 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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Rent growth +4.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Cozy 3 bed 1 bath home located in the heart of Rockford this cute 2 story home ! on the main floor you will walk into a generous size living room opening into a spacious dining room cute kitchen with a walk in pantry and a additional storage room kitchen has newer stainless steel appliances and a nice area to gather and cook together as a family, upstairs you will find the 3 spacious bedrooms and 1 full bath a big linen closet for additional space offers a nice way to keep a small family organized the bathroom has newer updates less than 4 years old walk downstairs to the lower level you find a nice rec area again with additional storage space and 1 closet a spacious laundry room and a addi

Key facts

• Big linen closet
• Spacious dining room
• Fenced in back yard

Tags

• GENEROUS SIZE LIVING ROOM
• SPACIOUS DINING ROOM
• WALK IN PANTRY
• BIG LINEN CLOSET
• SPACIOUS LAUNDRY ROOM
• FENCED IN BACK YARD

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence (house); 2 stories total
• Exterior features: Shingle roof; Lot approximately 0.13 acres

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Finished full basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Rents rising fast (+9.7%/yr); 67 active listings in the ZIP; lower-income renter base — watch delinquency; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $1,462/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 1406% 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 $968 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 + 8.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 1.04% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.32%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (median comp): $82,777
• List price: $140,000
• Delta: 69.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 College Ave	0.45mi	3/2.0	2,100 (-7%)	18mo	$50,000	$24	49
1526 8th Ave	0.67mi	3/1.0	2,064 (-8%)	8mo	$118,000	$57	49
1315 4th Ave	0.56mi	4/1.0 (+1)	1,953 (-13%)	3mo	$82,500	$42	44
1310 5th Ave	0.52mi	4/1.5 (+1)	2,553 (+14%)	12mo	$192,000	$75	36
404 S 1st St	0.72mi	4/2.0 (+1)	2,311 (+3%)	21mo	$179,000	$77	35

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: 2.8%
• Equity multiple: 1.11×
• Total profit: $4,377
• Equity at exit: $20,874

10-year hold

• IRR: 16.3%
• Equity multiple: 2.63×
• Total profit: $63,747
• Equity at exit: $12,105

Cash invested: $39,200 (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 61104

• Home prices YoY: -21.4%
• Rents YoY: 9.7%
• Active inventory: 67
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$58 /mo · $702/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $304

Break-even live

Break-even rent $1,077

Max offer price $140,000

Occupancy floor 74%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   status $140,000 Pending 27 DOM
2. 2026-06-03
   days on market $140,000 Active 27 DOM
3. 2026-06-02
   days on market $140,000 Active 26 DOM
4. 2026-06-01
   days on market $140,000 Active 25 DOM
5. 2026-05-31
   days on market $140,000 Active 24 DOM
6. 2026-05-30
   days on market $140,000 Active 23 DOM
7. 2026-05-18
   price $143,000 1145-char remark
8. 2026-05-14
   price $148,000 1145-char remark
9. 2026-05-07
   listed $150,000 Active 1145-char remark

ⓘ 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: $702 · $58/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$1,238/yr (+$103/mo · 176.4%)

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

Taxation est. · year 1

• Rental income: $17,550
• − Mortgage interest: −$7,842
• − Property taxes: −$702
• − Insurance: −$700
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$4,073
• Taxable income: $1,425
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $3,310/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): 17,222
• Household income: $33,772
• Rent vs Own: 62.2% rent · 37.8% own
• Severe rent burden: 1406.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 26% Black 25% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 16% · Canada, South Korea, Philippines
• Languages at home: 74% English-only · Spanish 18% Other Asian/Pacific 3% 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: ▼ -63.40%
• Current HPI: 233.0219
• Rent YoY: ▲ 9.67%
• 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

-6.7% since first listed

5 events — show timeline

• 2026-06-03 Pending — NWIAR
• 2026-05-27 Price Changed $140,000 NWIAR
• 2026-05-18 Price Changed $143,000 NWIAR
• 2026-05-14 Price Changed $148,000 NWIAR
• 2026-05-07 Listed $150,000 NWIAR

Property tax history

-3.3%/yr

Latest (2025): $702 · +13.6% YoY. Source: county tax records.