509 N 6th St · Rockford, IL 61107

$129,000

4 bd · 1.5 ba · 1,823 sqft · SingleFamily public records · 191 Days on market

Built 1905 2,614 sqft lot $71/sqft · 44% above area Est $90k · 44% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4+ bedroom home with new roof conveniently located near the bus line and downtown. Includes a partially finished basement for extra space. The garage is equipped with a gas line and power lines. Public parking lot right next door provides plenty of parking space. Low taxes makes this a great investment property or starter home.

Key facts

• Gas line
• New roof
• 2,614 sq ft lot

Tags

• NEW ROOF
• PARTIALLY FINISHED BASEMENT
• GAS LINE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 (+5.9%/yr); 151 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $892 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 + 5.9% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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 $85k; list at $129k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.32% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.07%
• DSCR: 1.76
• GRM: 6.3

CMA / ARV

• ARV (median comp): $89,542
• List price: $129,000
• Delta: 44.07%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1404 Benton St	0.43mi	4/1.5	1,829 (+0%)	0mo	$107,000	$59	79
703 3rd St	0.08mi	4/2.0	2,030 (+11%)	4mo	$101,000	$50	73
1411 Crosby St	0.47mi	4/2.0	1,775 (-3%)	2mo	$120,000	$68	70
1604 Crosby St	0.63mi	3/1.5 (-1)	1,824 (+0%)	8mo	$183,000	$100	59
1326 Brownwood Dr	0.66mi	3/1.5 (-1)	1,813 (-0%)	6mo	$230,000	$127	58
208 Summit St	0.44mi	3/2.0 (-1)	1,650 (-10%)	6mo	$105,000	$64	52
1315 4th Ave	0.68mi	4/1.0	1,953 (+7%)	3mo	$82,500	$42	51
1529 Benton St	0.59mi	4/2.0	1,579 (-13%)	1mo	$193,000	$122	47
1611 Jackson St	0.61mi	3/2.5 (-1)	2,029 (+11%)	1mo	$195,000	$96	43
1016 B St	0.68mi	3/1.5 (-1)	1,590 (-13%)	4mo	$217,000	$136	38
206 12th St	0.74mi	3/2.0 (-1)	1,580 (-13%)	6mo	$155,000	$98	32
422 N Gardiner Ave	0.75mi	3/2.5 (-1)	2,082 (+14%)	4mo	$274,000	$132	29

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 · 5.92% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.47×
• Total profit: $16,965
• Equity at exit: $19,234

10-year hold

• IRR: 22.6%
• Equity multiple: 3.20×
• Total profit: $79,339
• Equity at exit: $11,154

Cash invested: $36,120 (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 61107

• Home prices YoY: -20.1%
• Rents YoY: 5.9%
• Active inventory: 151
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,706 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$104 /mo · $1,243/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $514

Break-even live

Break-even rent $1,055

Max offer price $129,000

Occupancy floor 65%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 N Winnebago St Rockford, IL	4.0	1.0	1250	$1,600	$1.28	13d	1	0.88mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	43d	1	0.92mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	43d	1	1.18mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	21d	1	1.31mi

Listing history 18 events

1. 2026-05-13
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Spacious 4+ bedroom home with new roof conveniently located near the bus line and downtown. Includes a partially finished basement for extra space. The garage is equipped with a gas line and power lines. Public parking lot right next door provides plenty of parking space. Low taxes makes this a great investment property or starter home.

2. 2026-03-05
   price $129,000 338-char remark

   Show marketing remark (338 chars)

   Spacious 4+ bedroom home with new roof conveniently located near the bus line and downtown. Includes a partially finished basement for extra space. The garage is equipped with a gas line and power lines. Public parking lot right next door provides plenty of parking space. Low taxes makes this a great investment property or starter home.

3. 2025-11-03
   listed $135,000 Active 338-char remark

   Show marketing remark (338 chars)

   Spacious 4+ bedroom home with new roof conveniently located near the bus line and downtown. Includes a partially finished basement for extra space. The garage is equipped with a gas line and power lines. Public parking lot right next door provides plenty of parking space. Low taxes makes this a great investment property or starter home.

4. 2024-04-01
   soldstatus $85,000
5. 2024-03-29
   soldstatus $85,000 Closed 118-char remark

   Show marketing remark (118 chars)

   4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

6. 2024-03-25
   status Pending 118-char remark

   Show marketing remark (118 chars)

   4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

7. 2024-03-23
   status Active 118-char remark

   Show marketing remark (118 chars)

   4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

8. 2024-03-15
   status Pending 118-char remark

   Show marketing remark (118 chars)

   4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

9. 2024-03-13
   status Active 118-char remark

   Show marketing remark (118 chars)

   4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

10. 2024-02-20
    historical $1,350
11. 2024-02-19
    status Pending 118-char remark

    Show marketing remark (118 chars)

    4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

12. 2024-02-15
    listed $1,350
13. 2024-02-05
    listed $89,900 Active 118-char remark

    Show marketing remark (118 chars)

    4 Bedroom home with full useable basement. Also enclosed porch. Dinning room and family room. Large garage unattached.

14. 2010-02-17
    soldstatus $27,500
15. 2010-02-16
    soldstatus $27,500 Closed Sale
16. 2010-02-04
    status Pending
17. 2010-01-04
    listed $39,900 New
18. 1994-05-27
    soldstatus $28,000

ⓘ 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: $1,243 · $104/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$843/yr (+$70/mo · 67.8%)

ⓘ 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 3/10 Moderate 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: $20,469
• − Mortgage interest: −$7,226
• − Property taxes: −$1,243
• − Insurance: −$645
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$3,753
• Taxable income: $4,327
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $5,126/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): 30,765
• Household income: $78,574
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 981.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Black 9% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 6% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 11% Arabic 1% Other Indo-European 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: ▼ -62.46%
• Current HPI: 248.8598
• Rent YoY: ▲ 5.92%
• 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

+360.7% since first listed

18 events — show timeline

• 2026-05-13 Pending — NWIAR
• 2026-03-05 Price Changed $129,000 NWIAR
• 2025-11-03 Listed $135,000 NWIAR
• 2024-04-01 Sold (Public Records) $85,000 Public Records
• 2024-03-29 Sold (MLS) $85,000 NWIAR
• 2024-03-25 Pending — NWIAR
• 2024-03-23 Relisted — NWIAR
• 2024-03-15 Pending — NWIAR
• 2024-03-13 Relisted — NWIAR
• 2024-02-20 Rental Removed $1,350 NWIAR
• 2024-02-19 Pending — NWIAR
• 2024-02-15 Listed for Rent $1,350 NWIAR
• 2024-02-05 Listed $89,900 NWIAR
• 2010-02-17 Sold (Public Records) $27,500 Public Records
• 2010-02-16 Sold (MLS) $27,500 MRED as Distributed by MLS Grid
• 2010-02-04 Pending — MRED as Distributed by MLS Grid
• 2010-01-04 Listed $39,900 MRED as Distributed by MLS Grid
• 1994-05-27 Sold (Public Records) $28,000 Public Records

Property tax history

-1.7%/yr

Latest (2024): $1,243 · +3.5% YoY. Source: county tax records.