2342 17th Ave · Rockford, IL 61104

$164,900

3 bd · 1.0 ba · 1,726 sqft · SingleFamily · 9 Days on market

Built 1950 6,098 sqft lot Est $185k · 11% under

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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 +12.3/15.0
• Rent growth +4.9/5.0
• DSCR +4.7/10.0
• 1% rule +4.0/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-In Ready! Loaded with updates! This sharp 1.5-story features hardwood floors, fresh paint, and a bright living room with new light fixtures and built-ins. Updated kitchen with pantry and appliances included. Sliding doors lead to a deck overlooking the backyard perfect for entertaining. Finished lower level with fireplace and extra space to relax. Spacious upper-level primary suite with skylights. New furnace. Stylish, functional, and ready for its next owner!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $58 ($692/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 $149k (9.6% below list).
• Recommended offer: $149k (9.6% 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: 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: Whitehead Elem School (math 4% / reading 8%, grade F, #1,733 of 2,056 statewide, top 84%, 638 students, 0% FRL); Bernard W Flinn Middle School (math 5% / reading 9%, grade F, #627 of 665 statewide, top 95%, 830 students, 0% FRL); Rockford East High School (math 7% / reading 13%, grade F, #528 of 693 statewide, top 82%, 1,718 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: Rents rising fast (+9.7%/yr); 69 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $1,490/mo this rent would consume 53% of the median local household income ($34k/yr) (locally 1406% 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $96k; list at $165k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,010 (9.6% below list)

Questions for the listing agent

1. Built in 1950 — 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: 0.90% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $184,682
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2342 17th Ave	0.00mi	3/1.0	1,726 (0%)	1mo	$167,000	$97	99
1704 22nd St	0.17mi	4/1.0 (+1)	1,821 (+6%)	2mo	$175,000	$96	76
1123 16th St	0.50mi	3/1.0	1,758 (+2%)	1mo	$125,000	$71	73
2703 18th Ave	0.26mi	4/1.0 (+1)	1,817 (+5%)	2mo	$197,000	$108	73
1130 16th St	0.48mi	4/2.0 (+1)	1,734 (+0%)	1mo	$111,500	$64	66
2317 11th Ave	0.36mi	4/1.0 (+1)	1,612 (-7%)	1mo	$166,000	$103	66
1910 25th St	0.40mi	3/2.0	1,601 (-7%)	2mo	$205,000	$128	64
1811 Oregon Ave	0.50mi	2/2.0 (-1)	1,770 (+2%)	3mo	$199,500	$113	60
2229 Broadway St	0.20mi	4/2.0 (+1)	1,492 (-14%)	0mo	$169,500	$114	59
2338 22nd St	0.55mi	3/3.0	1,855 (+8%)	6mo	$80,000	$43	49
1519 13th St	0.59mi	4/2.0 (+1)	1,550 (-10%)	2mo	$166,000	$107	45
3243 Carolina Ave	0.74mi	3/2.0	1,569 (-9%)	6mo	$245,000	$156	41

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: -8.5%
• Equity multiple: 0.67×
• Total profit: $-15,161
• Equity at exit: $24,587

10-year hold

• IRR: 6.5%
• Equity multiple: 1.59×
• Total profit: $27,412
• Equity at exit: $14,258

Cash invested: $46,172 (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: 69
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,490 high
• Mortgage (P&I): −$865
• Tax from tax record: −$186 /mo · $2,232/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $58

Break-even live

Break-even rent $1,417

Max offer price $164,900

Occupancy floor 91%

Sensitivity live

Price	-10% $151	-5% $104	+0% $58	+5% $11	+10% $-36
Rent	-10% $-60	-5% $-1	+0% $58	+5% $117	+10% $175
Rate	-1.0pp $141	-0.5pp $100	base $58	+0.5pp $15	+1.0pp $-29

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1202 18th St Unit 3 Rockford, IL	3.0	1.0	1500	$1,700	$1.13	15d	1	0.41mi
1004 15th St Rockford, IL	4.0	1.5	1267	$1,450	$1.14	23d	1	0.62mi
1519 17th Ave Rockford, IL	3.0	2.0	1500	$1,600	$1.07	15d	1	0.77mi
708 29th St Rockford, IL	3.0	2.0	1800	$1,600	$0.89	23d	1	0.94mi
2021 2nd Ave Rockford, IL	2.0	1.0	1250	$1,000	$0.80	15d	1	1.05mi
333 S Gardiner Ave Unit AVE2 Rockford, IL	4.0	1.0	1306	$1,600	$1.23	45d	1	1.05mi
1231 11th Ave Rockford, IL	4.0	1.0	1284	$1,450	$1.13	45d	1	1.06mi
2217 8th St Rockford, IL	3.0	1.0	1260	$1,500	$1.19	45d	1	1.18mi
1119 9th Ave Unit 1W Rockford, IL	3.0	1.0	1155	$1,600	$1.39	45d	1	1.23mi
914 18th Ave Rockford, IL	2.0	1.0	1123	$900	$0.80	45d	1	1.29mi
2723 Silent Wood Trl Unit 2735-7 Rockford, IL	3.0	1.5	1050	$1,310	$1.25	23d	1	1.38mi

Listing history 19 events

1. 2026-04-17
   status Pending
2. 2026-04-09
   listed Active
3. 2026-04-08
   listed $164,900 Active
4. 2026-04-06
   historical
5. 2026-03-27
   price
6. 2026-03-27
   price $172,900
7. 2026-03-10
   price $179,900
8. 2026-03-10
   price
9. 2026-01-20
   listed Active
10. 2025-12-10
    soldstatus $96,500
11. 2019-05-21
    soldstatus $48,000 Closed Sale
12. 2019-05-21
    soldstatus $48,000
13. 2019-05-08
    status Pending
14. 2019-05-03
    historical
15. 2019-04-05
    listed $54,900 New
16. 2019-04-05
    listed $54,900
17. 1996-09-11
    soldstatus $66,000
18. 1996-09-11
    soldstatus $66,000
19. 1994-08-01
    soldstatus $67,000

ⓘ 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: $2,232 · $186/mo
• Projected year-2 tax: $2,988 · $249/mo
• Expected delta: +$755/yr (+$63/mo · 33.8%)

ⓘ 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 ≥101°F today · 14 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: $17,881
• − Mortgage interest: −$9,237
• − Property taxes: −$2,232
• − Insurance: −$824
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$4,797
• Taxable loss: −$2,071
• Est. tax savings @ 24.0%: +$497
• After-tax cash flow: $1,189/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

+146.1% since first listed

19 events — show timeline

• 2026-04-17 Pending — NWIAR
• 2026-04-09 Listed — MRED as Distributed by MLS Grid
• 2026-04-08 Listed $164,900 NWIAR
• 2026-04-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed $172,900 NWIAR
• 2026-03-10 Price Changed $179,900 NWIAR
• 2026-03-10 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-20 Listed — MRED as Distributed by MLS Grid
• 2025-12-10 Sold (Public Records) $96,500 Public Records
• 2019-05-21 Sold (MLS) $48,000 MRED as Distributed by MLS Grid
• 2019-05-21 Sold (MLS) $48,000 NWIAR
• 2019-05-08 Pending — MRED as Distributed by MLS Grid
• 2019-05-03 Listing Removed — MRED as Distributed by MLS Grid
• 2019-04-05 Listed $54,900 MRED as Distributed by MLS Grid
• 2019-04-05 Listed $54,900 NWIAR
• 1996-09-11 Sold (Public Records) $66,000 Public Records
• 1996-09-11 Sold (Public Records) $66,000 Public Records
• 1994-08-01 Sold (Public Records) $67,000 Public Records

Property tax history

-1.0%/yr

Latest (2024): $2,232 · +19.0% YoY. Source: county tax records.