509 W Franklin St · Rockton, IL 61072

$200,000

9 bd · 9.0 ba · — sqft · MultiFamily · 9 Days on market

Built 1900

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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
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Rare opportunity to own a 3-unit property in the heart of Rockton! Perfect for owner-occupants or investors looking to add a versatile income-producing property in a desirable location. Situated on just over a half-acre lot, this property features three 1-bedroom, 1-bath units with separate gas and electric meters for each unit. Unit 1 is currently rented to a long-term occupant who would like to stay, providing immediate income. Units 2 and 3 are fully remodeled, vacant, and ready to be rented. Unit 3 is a unique ADU connected to the detached garage, offering additional flexibility and rental potential. Don't miss this rare chance to own a multi-unit property with immediate cash flow and r

Key facts

• 3 unit property
• Half acre lot
• Unique adu

Tags

• 3 UNIT PROPERTY
• HALF ACRE LOT
• FULLY REMODELED UNITS
• UNIQUE ADU
• DETACHED GARAGE

Property features AI

Finance

• Financial info: Annual taxes listed

Exterior

• Parking: 6 parking spaces
• Home design: Residential income property; 3–4 unit multifamily; 2-story
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Interior features: Refrigerator; Gas water heater
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $473/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Cap rate 14.8% vs local median 2.6% in Rockton — 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 84/100 on livability (#37 in IL, #749 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Hononegah Chd 207 (suburban): math 46% / reading 53% proficiency, ranked #55 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hononegah Chd High School (math 46% / reading 53%, grade D, #44 of 693 statewide, top 7%, 1,891 students, 0% FRL).
• Market conditions: 42 active listings in the ZIP; 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 $6k 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 $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $100k; list at $200k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000

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 1900 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.85% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.43%
• DSCR: 2.35
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.04×
• Total profit: $58,170
• Equity at exit: $29,821

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $167,649
• Equity at exit: $17,292

Cash invested: $56,000 (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 61072

• Home prices YoY: -18.8%
• Active inventory: 42
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $3,701 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$372 /mo · $4,458/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $1,420

Break-even live

Break-even rent $1,903

Max offer price $200,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,533	-5% $1,477	+0% $1,420	+5% $1,364	+10% $1,307
Rent	-10% $1,128	-5% $1,274	+0% $1,420	+5% $1,566	+10% $1,712
Rate	-1.0pp $1,521	-0.5pp $1,471	base $1,420	+0.5pp $1,368	+1.0pp $1,316

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,702
Total (3 units)			$3,701

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $200,000 Active 9 DOM
2. 2026-06-18
   days on market $200,000 Active 8 DOM
3. 2026-06-17
   days on market $200,000 Active 7 DOM
4. 2026-06-16
   days on market $200,000 Active 6 DOM
5. 2026-06-15
   days on market $200,000 Active 5 DOM
6. 2026-06-14
   days on market $200,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $200,000 Active 2 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: $4,458 · $372/mo
• Projected year-2 tax: $4,499 · $375/mo
• Expected delta: +$41/yr (+$3/mo · 0.9%)

ⓘ 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: $44,412
• − Mortgage interest: −$11,203
• − Property taxes: −$4,458
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,553
• − Management: −$3,553
• − Depreciation: −$5,818
• Taxable income: $14,827
• Est. tax owed @ 24.0%: −$3,558
• After-tax cash flow: $13,483/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: Hononegah Chd 207
• NCES district ID: 1719620
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $70,776
• Composite: 44.33/100
• National rank: #2824
• State rank: #55 of 620 in IL

Livability — Rockton

• Score: 84/100
• State rank: #37
• US rank: #749

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockton, IL
• Population (ZIP): 11,342

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 6% Portuguese 5% Slovak 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Other Indo-European 1% Chinese 1% Spanish 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: ▼ -57.88%
• Current HPI: 249.6345
• Rent YoY: —
• Metro: —
• 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

+102.0% since first listed

6 events — show timeline

• 2026-06-12 Listed $200,000 MRED as Distributed by MLS Grid
• 2026-06-10 Listed $200,000 NWIAR
• 2026-02-26 Sold (Public Records) $100,000 Public Records
• 2023-11-17 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-07 Listed — MRED as Distributed by MLS Grid
• 1999-08-05 Sold (Public Records) $99,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $4,458 · +3.7% YoY. Source: county tax records.