2325 S 4th St · Rockford, IL 61104

$94,900

2 bd · 1.0 ba · 864 sqft · SingleFamily · 83 Days on market

Built 1928 0.29 ac lot $110/sqft · 52% above area

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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 2-bedroom, 1-bath home with 864 sq ft of comfortable living space. This home offers classic character and a simple, functional layout. A great option for first-time buyers, downsizers, or investors looking for a cozy and manageable property. Currently being rented. tenant is on a month to month.

Key facts

• 0.29 acre lot
• Built 1928
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% 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; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% 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).
• This rent runs 39% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 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 $55k; list at $95k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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: 1.15% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.20%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (median comp): $62,395
• List price: $94,900
• Delta: 52.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
822 22nd Ave	0.10mi	2/1.0	862 (-0%)	8mo	$116,000	$135	88
2817 9th St	0.69mi	3/2.0 (+1)	874 (+1%)	1mo	$149,900	$172	56
2108 Christina St	0.65mi	2/1.0	882 (+2%)	15mo	$52,500	$60	54
2823 S 4th St	0.60mi	2/1.0	780 (-10%)	14mo	$110,500	$142	45
2846 8th St	0.70mi	3/1.0 (+1)	805 (-7%)	12mo	$127,500	$158	41
2320 Parmele St	0.63mi	2/1.0	768 (-11%)	22mo	$65,500	$85	34
2831 Collins St	0.67mi	2/1.0	744 (-14%)	21mo	$58,000	$78	28
1619 9th St	0.75mi	3/1.0 (+1)	980 (+13%)	14mo	$99,000	$101	26

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: 3.2%
• Equity multiple: 1.13×
• Total profit: $3,410
• Equity at exit: $14,150

10-year hold

• IRR: 17.0%
• Equity multiple: 2.74×
• Total profit: $46,114
• Equity at exit: $8,205

Cash invested: $26,572 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,096 high
• Mortgage (P&I): −$498
• Tax from tax record: −$125 /mo · $1,494/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $204

Break-even live

Break-even rent $838

Max offer price $94,900

Occupancy floor 76%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 Kishwaukee St Unit 20102-N Rockford, IL	1.0	1.0	1000	$875	$0.88	43d	1	0.30mi
1209 21st Pl Rockford, IL	2.0	1.0	1040	$1,350	$1.30	43d	1	0.40mi
1211 21st Pl Rockford, IL	2.0	1.0	1040	$1,350	$1.30	43d	1	0.41mi
914 18th Ave Rockford, IL	2.0	1.0	1123	$900	$0.80	43d	1	0.44mi
1418 22nd Ave Rockford, IL	2.0	1.0	950	$1,200	$1.26	43d	1	0.59mi
1420 22nd Ave Rockford, IL	2.0	1.0	950	$1,200	$1.26	43d	1	0.59mi
2208 Christina St Rockford, IL	2.0	1.0	700	$1,300	$1.86	21d	1	0.61mi
611 15th Ave Unit 2 Rockford, IL	2.0	1.0	806	$1,350	$1.67	43d	1	0.62mi
810 15th Ave Unit 810-1 Rockford, IL	2.0	1.0	1000	$995	$0.99	43d	1	0.64mi
810 15th Ave Unit 810-3 Rockford, IL	2.0	1.0	1000	$995	$0.99	21d	1	0.64mi
2846 Lapey St Rockford, IL	1.0	1.0	700	$800	$1.14	43d	1	0.92mi
1524 Broadway Unit 1526-8 Rockford, IL	1.0	1.0	700	$850	$1.21	43d	1	1.00mi
1530 Broadway Unit 1532-1 Rockford, IL	1.0	1.0	700	$875	$1.25	21d	1	1.01mi
1310 Home Pl Unit 1 Rockford, IL	1.0	1.0	831	$700	$0.84	43d	1	1.26mi
1357 5th Ave Unit 1357-4 Rockford, IL	1.0	1.0	550	$795	$1.45	21d	1	1.46mi

Listing history 23 events

1. 2026-06-19
   days on market $94,900 Active 83 DOM
2. 2026-06-18
   days on market $94,900 Active 82 DOM
3. 2026-06-17
   days on market $94,900 Active 81 DOM
4. 2026-06-16
   days on market $94,900 Active 80 DOM
5. 2026-06-15
   days on market $94,900 Active 79 DOM
6. 2026-06-14
   days on market $94,900 Active 77 DOM
7. 2026-06-13
   days on market $94,900 Active 76 DOM
8. 2026-06-10
   days on market $94,900 Active 74 DOM
9. 2026-06-09
   days on market $94,900 Active 73 DOM
10. 2026-06-08
    days on market $94,900 Active 72 DOM
11. 2026-06-07
    days on market $94,900 Active 71 DOM
12. 2026-06-03
    days on market $94,900 Active 67 DOM
13. 2026-06-02
    days on market $94,900 Active 66 DOM
14. 2026-06-01
    days on market $94,900 Active 65 DOM
15. 2026-05-31
    days on market $94,900 Active 64 DOM
16. 2026-05-30
    days on market $94,900 Active 63 DOM
17. 2026-04-19
    price $94,900 305-char remark

    Show marketing remark (305 chars)

    Charming 2-bedroom, 1-bath home with 864 sq ft of comfortable living space. This home offers classic character and a simple, functional layout. A great option for first-time buyers, downsizers, or investors looking for a cozy and manageable property. Currently being rented. tenant is on a month to month.

18. 2026-03-28
    listed $99,000 Active 305-char remark

    Show marketing remark (305 chars)

    Charming 2-bedroom, 1-bath home with 864 sq ft of comfortable living space. This home offers classic character and a simple, functional layout. A great option for first-time buyers, downsizers, or investors looking for a cozy and manageable property. Currently being rented. tenant is on a month to month.

19. 2023-12-23
    historical $1,000
20. 2023-12-19
    listed $1,000
21. 2007-11-29
    soldstatus $55,000
22. 2002-06-18
    soldstatus $43,000
23. 1999-01-18
    soldstatus $30,833

ⓘ 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: $1,494 · $125/mo
• Projected year-2 tax: $1,824 · $152/mo
• Expected delta: +$330/yr (+$27/mo · 22.1%)

ⓘ 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: $13,147
• − Mortgage interest: −$5,316
• − Property taxes: −$1,494
• − Insurance: −$474
• − Repairs & maintenance: −$1,052
• − Management: −$1,052
• − Depreciation: −$2,761
• Taxable income: $998
• Est. tax owed @ 24.0%: −$239
• After-tax cash flow: $2,206/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

+207.8% since first listed

7 events — show timeline

• 2026-04-19 Price Changed $94,900 NWIAR
• 2026-03-28 Listed $99,000 NWIAR
• 2023-12-23 Rental Removed $1,000 RENTLY
• 2023-12-19 Listed for Rent $1,000 RENTLY
• 2007-11-29 Sold (Public Records) $55,000 Public Records
• 2002-06-18 Sold (Public Records) $43,000 Public Records
• 1999-01-18 Sold (Public Records) $30,833 Public Records

Property tax history

-1.4%/yr

Latest (2024): $1,494 · +3.5% YoY. Source: county tax records.