2706 School St · Rockford, IL 61101

$169,999

4 bd · 2.0 ba · — sqft · MultiFamily · 9 Days on market

Built 1958

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Discover this well-maintained two-family residence offering an excellent opportunity for both owner-occupants and investors. Each unit features a spacious layout with 2 bedrooms and 1 bathroom, hardwood flooring, and abundant natural light throughout. The property also includes a generous yard, a shared two-car garage, and separately metered gas and electric utilities. Recent improvements include new water heaters installed in 2024.

Key facts

• Hardwood flooring
• Generous yard
• Two family residence

Tags

• TWO FAMILY RESIDENCE
• SPACIOUS LAYOUT
• HARDWOOD FLOORING
• ABUNDANT NATURAL LIGHT
• GENEROUS YARD
• SHARED TWO CAR GARAGE

Property features AI

Exterior

• Parking: 2 parking spaces
• Home design: Duplex residential income property; 2 stories
• Construction: Brick construction
• Exterior features: Rubber roof

Interior

• Interior features: Dryer; Refrigerator; Washer; Gas water heater; Full basement
• Laundry & utility: Washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $549/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Cap rate 14.0% 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: 76 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 285 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).
• At $2,885/mo this rent would consume 75% of the median local household income ($46k/yr) (locally 1170% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $140k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.68%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

No comps found within radius.

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2706 School St	0.00mi	4/2.0	—	11mo	$140,000	—	78
2906-2908 Andrews St	0.15mi	5/2.5 (+1)	924	1mo	$195,000	$211	73
126 N Henrietta Ave	0.22mi	4/2.0	—	13mo	$105,000	—	66
819 Albert Ave	0.55mi	4/2.0	—	8mo	$87,500	—	55

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: 21.8%
• Equity multiple: 1.89×
• Total profit: $42,433
• Equity at exit: $25,347

10-year hold

• IRR: 29.9%
• Equity multiple: 3.67×
• Total profit: $127,193
• Equity at exit: $14,698

Cash invested: $47,600 (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: 76
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,885 high
• Mortgage (P&I): −$891
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $1,098

Break-even live

Break-even rent $1,495

Max offer price $169,999

Occupancy floor 57%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,886
Total (2 units)			$2,885

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2916 School St Rockford, IL	3.0	1.5	1578	$2,400	$1.52	43d	1	0.14mi
3016 School St Rockford, IL	4.0	1.0	1090	$1,400	$1.28	43d	1	0.19mi
2511 Ashland Ave Rockford, IL	4.0	2.0	2504	$2,900	$1.16	20d	1	0.27mi
2222 Andrews St Rockford, IL	4.0	1.0	1400	$1,600	$1.14	13d	1	0.32mi
901 N Horace Ave Rockford, IL	3.0	2.0	1400	$1,700	$1.21	13d	1	0.33mi
2011 School St Rockford, IL	3.0	1.0	950	$1,500	$1.58	43d	1	0.45mi
2315 Green St Rockford, IL	3.0	1.0	1290	$1,600	$1.24	43d	1	0.54mi
326 N Independence Ave Rockford, IL	3.0	1.0	—	$1,550	—	13d	1	0.60mi
207 N Central Ave Rockford, IL	4.0	1.5	1296	$1,500	$1.16	13d	1	0.72mi
1510 School St Unit 1 Rockford, IL	3.0	1.5	1400	$1,200	$0.86	43d	1	0.76mi
210 Irving Ave Rockford, IL	5.0	1.0	1202	$1,850	$1.54	43d	1	0.82mi
418 Orchard Park Rockford, IL	3.0	1.0	1232	$1,500	$1.22	13d	1	0.85mi
3834 Preston St Rockford, IL	3.0	1.0	912	$1,300	$1.43	13d	1	1.02mi
303 Forest Ave Rockford, IL	4.0	1.0	1568	$1,800	$1.15	43d	1	1.03mi
1146 Fairview Ave Rockford, IL	4.0	1.5	1344	$1,250	$0.93	20d	1	1.07mi
3133 Liberty Dr Rockford, IL	3.0	1.5	—	$1,675	—	20d	1	1.40mi

Listing history 8 events

1. 2026-06-19
   days on market $169,999 Active 9 DOM
2. 2026-06-18
   days on market $169,999 Active 8 DOM
3. 2026-06-17
   days on market $169,999 Active 7 DOM
4. 2026-06-16
   days on market $169,999 Active 6 DOM
5. 2026-06-15
   days on market $169,999 Active 5 DOM
6. 2026-06-14
   days on market $169,999 Active 3 DOM
7. 2026-06-13
   remarks 436-char remark
8. 2026-06-13
   listed $169,999 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: $2,626 · $219/mo
• Projected year-2 tax: $3,242 · $270/mo
• Expected delta: +$617/yr (+$51/mo · 23.5%)

ⓘ 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: $34,620
• − Mortgage interest: −$9,523
• − Property taxes: −$2,626
• − Insurance: −$850
• − Repairs & maintenance: −$2,770
• − Management: −$2,770
• − Depreciation: −$4,945
• Taxable income: $11,137
• Est. tax owed @ 24.0%: −$2,673
• After-tax cash flow: $10,503/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

+183.3% since first listed

9 events — show timeline

• 2026-06-10 Price Changed $169,999 MRED as Distributed by MLS Grid
• 2026-06-10 Listed $169,999 NWIAR
• 2026-06-10 Listed $1 MRED as Distributed by MLS Grid
• 2025-07-29 Sold (Public Records) $140,000 Public Records
• 2025-07-21 Sold (MLS) $140,000 NWIAR
• 2025-07-21 Sold (MLS) $140,000 MRED as Distributed by MLS Grid
• 2025-06-19 Pending — MRED as Distributed by MLS Grid
• 2025-06-17 Listed $130,000 MRED as Distributed by MLS Grid
• 2021-09-07 Sold (Public Records) $60,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,626 · +3.8% YoY. Source: county tax records.