923 17th St · Rockford, IL 61104

$145,000

4 bd · 1.0 ba · 1,327 sqft · SingleFamily · 12 Days on market

Built 1935 7,405 sqft lot Est $154k · 6% under

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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 +23.2/30.0
• ARV discount +10.1/15.0
• DSCR +7.5/10.0
• 1% rule +6.3/10.0
• 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 MLS

Charming 1935 Bungalow offering 1,327 sq ft of character, comfort, and opportunity! Inviting one+ story home features 4 bedrooms, 1 bath, and an up-dated front porch that's perfect for relaxing. Inside is a blend of original hardwood flooring and low-maintenance LVP flooring, along with abundant natural light streaming through numerous windows accented by hardwood trim. Solid wood doors and curved wall corners add to the home's timeless appeal. Efficient kitchen offers ample cabinetry and workspace, making meal prep convenient. Main-floor primary bedroom and three additional good sized bedrooms including walk-in closets for extra storage. Furnace '25, water heater '20. Filled with character and good bones, this home is ready for your personal touches and updates to truly make it your own. Don't miss this great opportunity to schedule your private showing today.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1935

Property features AI

Finance

• Other: Property located within Rockford corporate limits; Directions: 9th Ave to 17th St and address listed; Possession at closing; Earnest money held
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Estimated living area; Built before 1978 (older home)
• Construction: Vinyl siding and stone exterior
• Exterior features: Lot dimensions approximately 50 x 132; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Four bedrooms (Master, Bedroom 2 — main level; Bedroom 3, Bedroom 4 — second level); Master bedroom on main level
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• 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: Rents rising fast (+9.7%/yr); 67 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $1,634/mo this rent would consume 58% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 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 $78k; list at $145k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1935 — 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: 1.13% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $153,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 15th St	0.10mi	4/1.5	1,267 (-4%)	4mo	$84,000	$66	82
620 17th St	0.25mi	4/2.0	1,336 (+1%)	2mo	$199,000	$149	82
1011 15th St	0.13mi	3/1.0 (-1)	1,274 (-4%)	2mo	$155,000	$122	81
2322 11th Ave	0.27mi	3/1.0 (-1)	1,307 (-2%)	3mo	$156,000	$119	78
1810 Hutchins Ave	0.41mi	3/1.5 (-1)	1,292 (-3%)	5mo	$120,000	$93	66
2205 18th Ave	0.67mi	3/1.0 (-1)	1,355 (+2%)	0mo	$107,000	$79	60
128 Rome Ave	0.75mi	3/1.0 (-1)	1,310 (-1%)	1mo	$180,000	$137	58
2229 Broadway St	0.39mi	4/2.0	1,492 (+12%)	0mo	$169,500	$114	57
325 Washington St	0.47mi	3/2.0 (-1)	1,260 (-5%)	5mo	$179,000	$142	56
1318 6th Ave	0.70mi	3/1.5 (-1)	1,365 (+3%)	5mo	$125,000	$92	52
1615 15th Ave	0.61mi	3/1.0 (-1)	1,451 (+9%)	1mo	$149,000	$103	50
1306 Parmele St	0.57mi	3/2.0 (-1)	1,209 (-9%)	1mo	$140,000	$116	48

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,892
• Equity at exit: $21,620

10-year hold

• IRR: 15.3%
• Equity multiple: 2.54×
• Total profit: $62,636
• Equity at exit: $12,537

Cash invested: $40,600 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$760
• Tax from tax record: −$208 /mo · $2,492/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $262

Break-even live

Break-even rent $1,302

Max offer price $145,000

Occupancy floor 79%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	21d	1	0.12mi
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	13d	1	0.14mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	43d	1	0.51mi
1351 7th Ave Rockford, IL	4.0	2.0	1040	$2,000	$1.92	43d	1	0.62mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	43d	1	0.76mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	13d	1	0.76mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	43d	1	0.87mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	21d	1	0.94mi
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	43d	1	1.25mi

Listing history 12 events

1. 2026-06-19
   days on market $145,000 Active 12 DOM
2. 2026-06-18
   days on market $145,000 Active 11 DOM
3. 2026-06-17
   days on market $145,000 Active 10 DOM
4. 2026-06-16
   days on market $145,000 Active 9 DOM
5. 2026-06-15
   days on market $145,000 Active 8 DOM
6. 2026-06-14
   days on market $145,000 Active 6 DOM
7. 2026-06-13
   statusdays on market $145,000 Active 5 DOM
8. 2026-06-09
   statusdays on marketlisting id $145,000 Pending 3 DOM
9. 2026-06-08
   days on market $145,000 Active 5 DOM
10. 2026-06-07
    days on market $145,000 Active 4 DOM
11. 2026-06-03
    remarks 699-char remark

    Show marketing remark (873 chars)

    Charming 1935 Bungalow offering 1,327 sq ft of character, comfort, and opportunity! Inviting one+ story home features 4 bedrooms, 1 bath, and an up-dated front porch that's perfect for relaxing. Inside is a blend of original hardwood flooring and low-maintenance LVP flooring, along with abundant natural light streaming through numerous windows accented by hardwood trim. Solid wood doors and curved wall corners add to the home's timeless appeal. Efficient kitchen offers ample cabinetry and workspace, making meal prep convenient. Main-floor primary bedroom and three additional good sized bedrooms including walk-in closets for extra storage. Furnace '25, water heater '20. Filled with character and good bones, this home is ready for your personal touches and updates to truly make it your own. Don't miss this great opportunity to schedule your private showing today.

12. 2026-06-03
    listed $145,000 Active 1 DOM

    Show marketing remark (873 chars)

    Charming 1935 Bungalow offering 1,327 sq ft of character, comfort, and opportunity! Inviting one+ story home features 4 bedrooms, 1 bath, and an up-dated front porch that's perfect for relaxing. Inside is a blend of original hardwood flooring and low-maintenance LVP flooring, along with abundant natural light streaming through numerous windows accented by hardwood trim. Solid wood doors and curved wall corners add to the home's timeless appeal. Efficient kitchen offers ample cabinetry and workspace, making meal prep convenient. Main-floor primary bedroom and three additional good sized bedrooms including walk-in closets for extra storage. Furnace '25, water heater '20. Filled with character and good bones, this home is ready for your personal touches and updates to truly make it your own. Don't miss this great opportunity to schedule your private showing today.

ⓘ 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: $2,492 · $208/mo
• Projected year-2 tax: $2,892 · $241/mo
• Expected delta: +$400/yr (+$33/mo · 16.0%)

ⓘ 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: $19,609
• − Mortgage interest: −$8,122
• − Property taxes: −$2,492
• − Insurance: −$725
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$4,218
• Taxable income: $913
• Est. tax owed @ 24.0%: −$219
• After-tax cash flow: $2,929/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

+281.6% since first listed

5 events — show timeline

• 2026-06-03 Listed $145,000 NWIAR
• 2026-06-03 Listed $145,000 MRED as Distributed by MLS Grid
• 2003-12-31 Sold (Public Records) $78,000 Public Records
• 2001-10-15 Sold (Public Records) $61,000 Public Records
• 1999-11-19 Sold (Public Records) $38,000 Public Records

Property tax history

+0.8%/yr

Latest (2024): $2,492 · +3.5% YoY. Source: county tax records.