1804 Latham St · Rockford, IL 61103

$159,900

2 bd · 1.0 ba · 2,223 sqft · SingleFamily · 17 Days on market

Built 1930 7,405 sqft lot Est $165k · at est.

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Why this score? — see what drove the D 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 +15.2/30.0
• ARV discount +8.8/15.0
• DSCR +4.7/10.0
• Rent growth +4.5/5.0
• 1% rule +3.5/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1349 SQ FT ONE STORY HOME WITH 2 BEDROOMS AND 1 BATH. NATURAL HARD WOOD AND NATURAL WOOD WORK. LARGE ATTIC COULD POSSIBLY BE DEN OR OFFICE. LARGE FENCED BACK YARD WITH 1 CAR GARAGE SOLD AS IS

Key facts

• Alley access
• Front porch
• Fenced in back yard

Tags

• HARDWOOD FLOORS
• FENCED IN BACK YARD
• DETACHED GARAGE
• ALLEY ACCESS
• FRONT PORCH

Property features AI

Exterior

• Parking: Detached or attached garage with 1 garage space; Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Below-grade finished area present
• Exterior features: Shingle roof; Lot approximately 0.17 acres

Interior

• Kitchen: Gas cooktop
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Gas cooktop; Gas water heater; Full finished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $55 ($656/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (14.9% below list).
• Recommended offer: $136k (14.9% below list) — sets the bar for 1% rule.

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 (+8.1%/yr); 103 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $36k; list at $160k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,140 (14.9% below list)

Questions for the listing agent

1. Built in 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.85% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $164,502
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1811 Yonge St	0.32mi	2/2.0	2,174 (-2%)	5mo	$130,000	$60	73
1909 Price St	0.35mi	3/1.0 (+1)	2,359 (+6%)	7mo	$155,000	$66	63
415 Logan St	0.43mi	3/1.5 (+1)	2,024 (-9%)	5mo	$180,000	$89	54
1434 N Church St St	0.25mi	3/1.5 (+1)	1,948 (-12%)	12mo	$65,000	$33	50
2215 Benderwirt Ave	0.65mi	2/1.5	1,993 (-10%)	2mo	$120,000	$60	49
2114 Cumberland St	0.69mi	3/1.0 (+1)	2,024 (-9%)	3mo	$230,000	$114	46
1427 Camp Ave	0.49mi	3/2.5 (+1)	2,048 (-8%)	10mo	$217,000	$106	44
511 King St	0.35mi	3/1.0 (+1)	1,900 (-14%)	13mo	$140,000	$74	44
1831 Camp Ave	0.61mi	3/1.5 (+1)	1,970 (-11%)	6mo	$185,000	$94	40
1734 Cumberland St	0.67mi	3/1.5 (+1)	2,437 (+10%)	8mo	$180,000	$74	39
1037 Haskell Ave	0.73mi	3/1.5 (+1)	2,086 (-6%)	14mo	$41,500	$20	38
1626 N Winnebago St	0.65mi	3/1.0 (+1)	1,919 (-14%)	18mo	$89,900	$47	27

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: -8.9%
• Equity multiple: 0.66×
• Total profit: $-15,266
• Equity at exit: $23,842

10-year hold

• IRR: 5.9%
• Equity multiple: 1.53×
• Total profit: $23,809
• Equity at exit: $13,825

Cash invested: $44,772 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$116 /mo · $1,388/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $55

Break-even live

Break-even rent $1,292

Max offer price $159,900

Occupancy floor 91%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 N Court St Unit 1407 Rockford, IL	2.0	1.0	1530	$1,100	$0.72	43d	1	0.34mi
913 N Main St Rockford, IL	2.0	1.0–2.0	1050	$2,300	$2.19	21d	1	0.94mi
3422 Fremont St Rockford, IL	3.0	2.0	1700	$1,975	$1.16	13d	1	1.32mi

Listing history 13 events

1. 2026-06-19
   days on market $159,900 Active 17 DOM
2. 2026-06-18
   days on market $159,900 Active 16 DOM
3. 2026-06-17
   days on market $159,900 Active 15 DOM
4. 2026-06-16
   days on market $159,900 Active 14 DOM
5. 2026-06-15
   days on market $159,900 Active 13 DOM
6. 2026-06-14
   days on market $159,900 Active 11 DOM
7. 2026-06-13
   days on market $159,900 Active 10 DOM
8. 2026-06-10
   days on market $159,900 Active 8 DOM
9. 2026-06-09
   days on market $159,900 Active 7 DOM
10. 2026-06-08
    days on market $159,900 Active 6 DOM
11. 2026-06-07
    days on market $159,900 Active 5 DOM
12. 2026-06-03
    remarks 150-char remark
13. 2026-06-03
    listed $159,900 Active 1 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: $1,388 · $116/mo
• Projected year-2 tax: $2,509 · $209/mo
• Expected delta: +$1,121/yr (+$93/mo · 80.7%)

ⓘ 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 ≥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: $16,337
• − Mortgage interest: −$8,957
• − Property taxes: −$1,388
• − Insurance: −$800
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$4,652
• Taxable loss: −$2,073
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $1,154/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

+560.7% since first listed

8 events — show timeline

• 2026-06-01 Listed $159,900 NWIAR
• 2026-04-18 Price Changed $1,495 BUILDIUM
• 2026-04-15 Listed for Rent $1,395 BUILDIUM
• 2025-12-26 Sold (Public Records) $36,000 Public Records
• 2012-02-27 Sold (MLS) $19,000 MRED as Distributed by MLS Grid
• 2012-01-18 Pending — MRED as Distributed by MLS Grid
• 2011-12-28 Price Changed $19,900 MRED as Distributed by MLS Grid
• 2011-11-22 Listed $24,200 MRED as Distributed by MLS Grid

Property tax history

-2.2%/yr

Latest (2024): $1,388 · +9.5% YoY. Source: county tax records.