603 N Sunset Ave · Rockford, IL 61101

$70,000

2 bd · 1.0 ba · 924 sqft · SingleFamily · 11 Days on market

Built 1930 6,098 sqft lot Est $113k · 38% 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 +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, homeowners and landlords! This 2-bedroom, 1-bathroom bungalow needs some TLC but offers great potential. The home features hardwood floors, original wood trim, spacious living and dining areas, and plenty of natural light throughout. Both bedrooms are on the main floor and there is a large rec room upstairs that can be turned into a 3rd bedroom. Detached 1-car garage and fenced backyard. Sold as-is. No FHA/VA.

Key facts

• Original wood trim
• Natural light
• Large rec room

Tags

• HARDWOOD FLOORS
• ORIGINAL WOOD TRIM
• NATURAL LIGHT
• LARGE REC ROOM
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water service; Public sewer service
• Home design: Single-family residence; One story
• Exterior features: Shingle roof; Public water; Public sewer

Interior

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

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.7% 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: Kennedy Middle School (math 3% / reading 2%, grade F, #660 of 665 statewide, top 100%, 380 students, 0% FRL); Auburn High School (math 26% / reading 32%, grade F, #210 of 693 statewide, top 30%, 1,936 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: 79 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 31% of the median local income ($46k/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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $29k; list at $70k implies a 141% 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 $70,000

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. 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.
6. 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.
7. 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: 1.71% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.36%
• DSCR: 2.17
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $112,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 N Independence Ave	0.08mi	2/1.0	823 (-11%)	6mo	$100,000	$122	73
1611 Ashland Ave	0.20mi	2/1.0	864 (-6%)	9mo	$107,900	$125	72
920 Oakley Ave	0.31mi	3/2.0 (+1)	900 (-3%)	3mo	$128,000	$142	70
2213 Mulberry St	0.39mi	2/1.0	864 (-6%)	4mo	$42,000	$49	67
521 N Johnston Ave	0.38mi	2/1.0	984 (+6%)	8mo	$58,000	$59	65
2315 Chestnut St	0.62mi	2/1.0	932 (+1%)	7mo	$125,000	$134	64
325 Webster Ave	0.61mi	2/1.0	944 (+2%)	9mo	$58,500	$62	60
610 N Horace Ave	0.63mi	2/1.0	896 (-3%)	7mo	$116,900	$130	60
444 Forest Ave	0.45mi	3/1.5 (+1)	875 (-5%)	5mo	$44,000	$50	59
406 S Independence Ave	0.66mi	3/1.0 (+1)	936 (+1%)	7mo	$105,000	$112	56
410 Foster Ave	0.70mi	3/1.5 (+1)	974 (+5%)	8mo	$127,500	$131	44
2015 Chestnut St	0.54mi	3/1.0 (+1)	830 (-10%)	12mo	$65,000	$78	43

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: 20.2%
• Equity multiple: 1.82×
• Total profit: $16,118
• Equity at exit: $10,437

10-year hold

• IRR: 28.4%
• Equity multiple: 3.53×
• Total profit: $49,503
• Equity at exit: $6,052

Cash invested: $19,600 (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 61101

• Home prices YoY: -25.4%
• Active inventory: 79
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,200 high
• Mortgage (P&I): −$367
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $431

Break-even live

Break-even rent $655

Max offer price $70,000

Occupancy floor 59%

Sensitivity live

Price	-10% $470	-5% $450	+0% $431	+5% $411	+10% $391
Rent	-10% $336	-5% $383	+0% $431	+5% $478	+10% $525
Rate	-1.0pp $466	-0.5pp $448	base $431	+0.5pp $412	+1.0pp $394

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	45d	1	0.12mi
924 N Sunset Ave Rockford, IL	2.0	1.0	725	$1,050	$1.45	14d	1	0.29mi
2305 School St Unit 2305-7 Rockford, IL	2.0	1.0	875	$995	$1.14	45d	1	0.30mi
912 Furman St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	14d	1	0.40mi
1116 Irving Ave Unit 1116-301 Rockford, IL	2.0	1.0	800	$950	$1.19	22d	1	0.47mi
1118 Furman St Unit 1118-13 Rockford, IL	1.0	1.0	650	$995	$1.53	22d	1	0.52mi
1118 Furman St Unit 1118-15 Rockford, IL	1.0	1.0	650	$995	$1.53	45d	1	0.52mi
1826 Green St Rockford, IL	2.0	1.0	1000	$1,300	$1.30	22d	1	0.62mi
1614 Pauline Ave Rockford, IL	2.0	1.0	956	$1,400	$1.46	45d	1	1.01mi
2330 Kilburn Ave Rockford, IL	2.0–3.0	1.0–2.0	950	$999	$1.05	14d	1	1.12mi
504 Lexington Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	14d	1	1.19mi
912 Haskell Ave Unit 912-2 Rockford, IL	1.0	1.0	575	$825	$1.43	14d	1	1.29mi
912 Haskell Ave Unit 912-10 Rockford, IL	1.0	1.0	575	$825	$1.43	22d	1	1.29mi
411 Mulberry St Rockford, IL	1.0	1.0	415	$1,025	$2.47	14d	25	1.32mi
226 S Main St Rockford, IL	1.0	1.0	1066	$1,560	$1.46	14d	3	1.45mi
829 N Court St Unit 829-15 Rockford, IL	1.0	1.0	675	$895	$1.33	22d	1	1.45mi
829 N Court St Unit 829-12 Rockford, IL	1.0	1.0	675	$850	$1.26	45d	1	1.45mi
529 N Main St Rockford, IL	1.0	1.0	562	$950	$1.69	14d	4	1.45mi
615 Newport Ave Rockford, IL	2.0	1.0	700	$1,300	$1.86	14d	1	1.50mi

Listing history 9 events

1. 2026-06-21
   days on market $70,000 Active 11 DOM
2. 2026-06-19
   days on market $70,000 Active 9 DOM
3. 2026-06-18
   days on market $70,000 Active 8 DOM
4. 2026-06-17
   days on market $70,000 Active 7 DOM
5. 2026-06-16
   days on market $70,000 Active 6 DOM
6. 2026-06-15
   days on market $70,000 Active 5 DOM
7. 2026-06-14
   days on market $70,000 Active 3 DOM
8. 2026-06-13
   remarks 434-char remark
9. 2026-06-13
   listed $70,000 Active 2 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: $1,452 · $121/mo
• Projected year-2 tax: $1,521 · $127/mo
• Expected delta: +$68/yr (+$6/mo · 4.7%)

ⓘ 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 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: $14,397
• − Mortgage interest: −$3,921
• − Property taxes: −$1,452
• − Insurance: −$350
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,036
• Taxable income: $4,334
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $4,126/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): 19,318
• Household income: $46,163
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1170.0

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 0.66)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Portuguese 2%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% Other Indo-European 1% 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: ▼ -69.58%
• Current HPI: 204.8946
• Rent YoY: —
• 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

+141.4% since first listed

3 events — show timeline

• 2026-06-11 Listed $70,000 NWIAR
• 2026-06-10 Listed $70,000 MRED as Distributed by MLS Grid
• 1995-07-03 Sold (Public Records) $29,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,452 · +3.8% YoY. Source: county tax records.