6985 Hiatt · Rockford, IL 61114

$139,700

4 bd · 2.0 ba · 1,536 sqft · SingleFamily · 9 Days on market

Built 1954 Est $261k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

Key facts

• 2 garage spots
• Built 1954
• Listed 9 days

Property features AI

Finance

• Other: Parcel number available
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned) with 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family split-level home; Owned with fee simple ownership; Built before 1978
• Construction: Vinyl siding; Age approximately 71–80 years; Not rebuilt or rehabbed
• Exterior features: Lot dimensions: 202.33 x 190 x 132 x 53.3; Lot is less than 0.25 acre; School bus and commuter bus service available

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two main-level bedrooms; Two additional bedrooms in the basement (home can accommodate up to 4 bedrooms total)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Finished full basement with walk-out access; Seven total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $140k).
• Cap rate 24.9% 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.
• Harlem UD 122 (suburban): math 17% / reading 23% proficiency, ranked #418 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $966 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 + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $94k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,700

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.98% ✓
• Cap rate: 24.93%
• Cash-on-cash: 66.55%
• DSCR: 3.96
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $261,120
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6985 Hiatt Dr	0.00mi	4/2.0	1,536 (0%)	0mo	$130,000	$85	100
3254 Sage Dr	0.72mi	3/2.0 (-1)	1,616 (+5%)	2mo	$275,000	$170	51
4111 Woodlake Ct Ct	0.52mi	3/2.0 (-1)	1,408 (-8%)	11mo	$173,000	$123	47
3811 Mackinaw Trl	0.52mi	3/2.0 (-1)	1,602 (+4%)	21mo	$338,900	$212	46
4269 Towhee Trl	0.75mi	4/2.5	1,384 (-10%)	5mo	$230,000	$166	43
4916 Cardamon Ln	0.72mi	3/2.0 (-1)	1,560 (+2%)	22mo	$210,000	$135	40
5214 Gingeridge Ln	0.70mi	4/3.0	1,416 (-8%)	14mo	$287,000	$203	39
4822 Cardamon Ln	0.68mi	3/2.0 (-1)	1,618 (+5%)	22mo	$305,000	$189	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.9%
• Equity multiple: 3.96×
• Total profit: $115,679
• Equity at exit: $20,830

10-year hold

• IRR: 70.2%
• Equity multiple: 8.14×
• Total profit: $279,282
• Equity at exit: $12,079

Cash invested: $39,116 (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 61114

• Home prices YoY: -27.1%
• Active inventory: 74
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $4,169 medium
• Mortgage (P&I): −$733
• Tax from tax record: −$334 /mo · $4,002/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $2,169

Break-even live

Break-even rent $1,423

Max offer price $139,700

Occupancy floor 43%

Sensitivity live

Price	-10% $2,248	-5% $2,209	+0% $2,169	+5% $2,130	+10% $2,090
Rent	-10% $1,840	-5% $2,005	+0% $2,169	+5% $2,334	+10% $2,499
Rate	-1.0pp $2,240	-0.5pp $2,205	base $2,169	+0.5pp $2,133	+1.0pp $2,096

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: $34,925
• Closing costs: $4,191
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4016 Eaton Dr Unit 1232695P Rockford, IL	3.0	3.0	1722	$4,169	$2.42	14d	1	1.16mi

Listing history 12 events

1. 2026-05-20
   status Pending 255-char remark

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

2. 2026-05-20
   status Pending

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

3. 2026-05-11
   status Active 255-char remark

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

4. 2026-05-11
   status Active

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

5. 2026-05-07
   status Pending 255-char remark

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

6. 2026-05-07
   status Pending

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

7. 2026-05-07
   listed $139,700 Active 255-char remark

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

8. 2026-05-07
   listed $139,700 Active

   Show marketing remark (255 chars)

   Harlem schools. Walkout basement. Large yard. Was a rental. Needs a little TLC. Bring ideas. Lower tax rate. 2 bedrooms up. 2 bedrooms down w/ bath. Home warranty is provided. Private area. Not a lot of traffic. Attached 2 car garage. Bring all contracts.

9. 2006-11-08
   soldstatus $94,000
10. 2000-09-01
    soldstatus $65,000
11. 1989-04-24
    soldstatus $72,000
12. 1989-04-24
    soldstatus $72,000

ⓘ 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: $4,002 · $334/mo
• Projected year-2 tax: $4,002 · $334/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,028
• − Mortgage interest: −$7,825
• − Property taxes: −$4,002
• − Insurance: −$698
• − Repairs & maintenance: −$4,002
• − Management: −$4,002
• − Depreciation: −$4,064
• Taxable income: $25,433
• Est. tax owed @ 24.0%: −$6,104
• After-tax cash flow: $19,926/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: Harlem UD 122
• NCES district ID: 1718240
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $51,228
• Composite: 18.01/100
• National rank: #8982
• State rank: #418 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
• City population: 147,297
• Population (ZIP): 15,026

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Black 10% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -84.00%
• Current HPI: 225.8485
• 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

+94.0% since first listed

12 events — show timeline

• 2026-05-20 Pending — NWIAR
• 2026-05-20 Pending — MRED as Distributed by MLS Grid
• 2026-05-11 Relisted — NWIAR
• 2026-05-11 Relisted — MRED as Distributed by MLS Grid
• 2026-05-07 Pending — NWIAR
• 2026-05-07 Pending — MRED as Distributed by MLS Grid
• 2026-05-07 Listed $139,700 MRED as Distributed by MLS Grid
• 2026-05-07 Listed $139,700 NWIAR
• 2006-11-08 Sold (Public Records) $94,000 Public Records
• 2000-09-01 Sold (Public Records) $65,000 Public Records
• 1989-04-24 Sold (Public Records) $72,000 Public Records
• 1989-04-24 Sold (Public Records) $72,000 Public Records

Property tax history

+1.1%/yr

Latest (2024): $4,002 · +3.6% YoY. Source: county tax records.