1819 Logan St · Rockford, IL 61103

$345,000

8 bd · 4.0 ba · — sqft · MultiFamily · 5 Days on market

Built 1955 10,018 sqft lot

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

This fully rented all brick 4-unit multifamily property offers dependable income and strong rental history. Each of the four identical units features two spacious bedrooms, a full bathroom, a light-filled living room with a large picture window, and a sizable kitchen with waterproof soft-close cabinetry and room for a table. Refinished hardwood floors run throughout. The property includes two parking spots behind the building plus a brick two-car garage. The previous owner completed numerous updates throughout the property, ensuring it has been well cared for and thoughtfully improved. This building is a solid, low-maintenance opportunity and a smart addition to any investment portfolio! Tenant pays for Gas and Electric. Property owner pays water and sewer. 24 Hour show notice required for showings. 48 Hour show notice preferred.

Key facts

• Large picture window
• All brick
• 0.23 acre lot

Tags

• ALL BRICK
• FOUR UNIT MULTIFAMILY
• STRONG RENTAL HISTORY
• LIGHT FILLED LIVING ROOM
• LARGE PICTURE WINDOW
• REFINISHED HARDWOOD FLOORS

Property features AI

Finance

• Other: Insurance expense listed at $2,500; Possession at closing; subject to tenants' rights
• Financial info: Building contains 4 units; Some units currently rented (rents range from $800–$1,000); Example unit rents and deposits: $1,000 rent with $1,000 deposit (lease to 02/01/2027); $850 rent with $800 deposit (month-to-month); $800 rent with $750 deposit (month-to-month); $800 rent with $750 deposit (month-to-month); Tenant responsibility: electric and gas

Exterior

• Parking: Detached garage (owned); Garage accessed off alley; Total parking for 4 vehicles; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Built prior to 1978
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Estimated age 71–80 years
• Exterior features: Lot dimensions approx. 66.67 x 150 x 66.67 x 150; Lot under 0.25 acre; Zoned for multi-family

Interior

• Kitchen: Each unit includes a stove and refrigerator
• Bedrooms: 8 bedrooms total (various units; each unit has 2 bedrooms)
• Bathrooms: 4 full bathrooms total
• Heating & cooling: Natural gas forced air heating
• Interior features: 20 total rooms; Unfinished full basement
• Laundry & utility: Tenants pay electric and gas for units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $314/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $345k).
• Cap rate 10.7% 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: 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: R K Welsh Elem School (math 7% / reading 7%, grade F, #1,719 of 2,056 statewide, top 84%, 435 students, 0% FRL); West Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 849 students, 0% FRL); Guilford High School (math 15% / reading 28%, grade F, #345 of 693 statewide, top 50%, 2,071 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); 103 active listings in the ZIP; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $4,656/mo this rent would consume 109% of the median local household income ($51k/yr) (locally 1402% 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 $2k of loan paydown is wiped out by about $10k 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 $97k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $300k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $345,000

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 1955 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.59%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2123 Douglas St	0.34mi	8/4.5	—	2mo	$335,000	—	68
2120 Douglas St	0.31mi	8/4.0	—	12mo	$280,000	—	63

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: 12.0%
• Equity multiple: 1.50×
• Total profit: $48,706
• Equity at exit: $51,441

10-year hold

• IRR: 24.6%
• Equity multiple: 3.67×
• Total profit: $257,686
• Equity at exit: $29,829

Cash invested: $96,600 (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 61103

• Home prices YoY: -27.3%
• Rents YoY: 8.1%
• Active inventory: 103
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $4,656 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$471 /mo · $5,647/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$978
• Net cashflow: $1,255

Break-even live

Break-even rent $3,068

Max offer price $345,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,450	-5% $1,352	+0% $1,255	+5% $1,157	+10% $1,059
Rent	-10% $887	-5% $1,071	+0% $1,255	+5% $1,439	+10% $1,622
Rate	-1.0pp $1,428	-0.5pp $1,342	base $1,255	+0.5pp $1,165	+1.0pp $1,074

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,656
Total (4 units)			$4,656

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-03
   status $345,000 Pending 5 DOM
2. 2026-06-02
   days on market $345,000 Active 5 DOM
3. 2026-06-01
   days on market $345,000 Active 4 DOM
4. 2026-05-31
   days on market $345,000 Active 3 DOM
5. 2026-05-30
   days on market $345,000 Active 2 DOM
6. 2026-05-29
   listed $345,000 Active

   Show marketing remark (841 chars)

   This fully rented all brick 4-unit multifamily property offers dependable income and strong rental history. Each of the four identical units features two spacious bedrooms, a full bathroom, a light-filled living room with a large picture window, and a sizable kitchen with waterproof soft-close cabinetry and room for a table. Refinished hardwood floors run throughout. The property includes two parking spots behind the building plus a brick two-car garage. The previous owner completed numerous updates throughout the property, ensuring it has been well cared for and thoughtfully improved. This building is a solid, low-maintenance opportunity and a smart addition to any investment portfolio! Tenant pays for Gas and Electric. Property owner pays water and sewer. 24 Hour show notice required for showings. 48 Hour show notice preferred.

7. 2026-05-29
   listed $345,000 Active 841-char remark

   Show marketing remark (841 chars)

   This fully rented all brick 4-unit multifamily property offers dependable income and strong rental history. Each of the four identical units features two spacious bedrooms, a full bathroom, a light-filled living room with a large picture window, and a sizable kitchen with waterproof soft-close cabinetry and room for a table. Refinished hardwood floors run throughout. The property includes two parking spots behind the building plus a brick two-car garage. The previous owner completed numerous updates throughout the property, ensuring it has been well cared for and thoughtfully improved. This building is a solid, low-maintenance opportunity and a smart addition to any investment portfolio! Tenant pays for Gas and Electric. Property owner pays water and sewer. 24 Hour show notice required for showings. 48 Hour show notice preferred.

8. 2023-08-25
   soldstatus $300,000 Closed 772-char remark

   Show marketing remark (772 chars)

   Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

9. 2023-08-25
   soldstatus $300,000 Closed

   Show marketing remark (772 chars)

   Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

10. 2023-08-18
    status Pending 772-char remark

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

11. 2023-08-08
    historical 772-char remark

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

12. 2023-07-25
    status Pending

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

13. 2023-07-25
    status Pending 772-char remark

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

14. 2023-07-21
    price $299,900 772-char remark

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

15. 2023-07-21
    price $299,900

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

16. 2023-07-12
    historical
17. 2023-07-10
    listed $325,000 Active 772-char remark

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

18. 2023-07-10
    listed $325,000 Active

    Show marketing remark (772 chars)

    Turn key ALL-BRICK 4-unit investment property in the heart of Rockford! Everything has been remodeled with quality material 4 years ago. 50 year roof shingles, new fiberglass windows and doors, furnace, A/C, water heaters and electrical panels. Please see the amenities sheet for the large list of improvements. All four units are identical with 2 spacious bedrooms (one bedroom even has a walk-in closet), light and bright living room with large picture window, spacious kitchen with waterproof cabinets with soft close doors and drawers and table space. Refinished hardwood flooring throughout. There are two parking spots in the back of the building plus a brick two-car garage with new roof and gutters. Prime location near downtown and the Rock River Recreation Path.

19. 2019-08-19
    historical
20. 2019-08-06
    listed New
21. 2004-11-09
    soldstatus $156,750
22. 2000-12-28
    soldstatus $103,000

ⓘ 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: $5,647 · $471/mo
• Projected year-2 tax: $6,739 · $562/mo
• Expected delta: +$1,092/yr (+$91/mo · 19.3%)

ⓘ 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 ≥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: $55,872
• − Mortgage interest: −$19,325
• − Property taxes: −$5,647
• − Insurance: −$1,725
• − Repairs & maintenance: −$4,470
• − Management: −$4,470
• − Depreciation: −$10,036
• Taxable income: $10,199
• Est. tax owed @ 24.0%: −$2,448
• After-tax cash flow: $12,608/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

+235.0% since first listed

17 events — show timeline

• 2026-05-29 Listed $345,000 NWIAR
• 2026-05-29 Listed $345,000 MRED as Distributed by MLS Grid
• 2023-08-25 Sold (MLS) $300,000 MRED as Distributed by MLS Grid
• 2023-08-25 Sold (MLS) $300,000 NWIAR
• 2023-08-18 Pending — NWIAR
• 2023-08-08 Delisted — NWIAR
• 2023-07-25 Pending — MRED as Distributed by MLS Grid
• 2023-07-25 Pending — NWIAR
• 2023-07-21 Price Changed $299,900 NWIAR
• 2023-07-21 Price Changed $299,900 MRED as Distributed by MLS Grid
• 2023-07-12 Rental Removed — APPFOLIO
• 2023-07-10 Listed $325,000 MRED as Distributed by MLS Grid
• 2023-07-10 Listed $325,000 NWIAR
• 2019-08-19 Listing Removed — MRED as Distributed by MLS Grid
• 2019-08-06 Listed — MRED as Distributed by MLS Grid
• 2004-11-09 Sold (Public Records) $156,750 Public Records
• 2000-12-28 Sold (Public Records) $103,000 Public Records

Property tax history

+0.2%/yr

Latest (2024): $5,647 · +3.5% YoY. Source: county tax records.