635 Garfield AveRockfordIL61103
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 635 Garfield Ave, Rockford, IL, 61103 in Rockford, $171,000, 9.84% gross yield, $160/mo net income. Consider it a market-entry position, the $1,271/mo rent covers the $769/mo payment with a margin, and 5%/yr appreciation is projected to add $47,244 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.65) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $70,264.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 9.2% |
| Monthly Cash Flow | $160 | $450 |
City averages based on Rockford market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,271 |
| Total Monthly Debt Service | $1,128 |
| DSCR Ratio | 1.13x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1910
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61103, Rockford, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,046 (100%) |
| Owner Occupied HU | 5,025 (45.5%) |
| Renter Occupied HU | 4,904 (44.4%) |
| Vacant Housing Units | 1,117 (10.1%) |
| Median Home Value | $143,110 |
| Average Home Value | $176,481 |
Housing Distribution
Address Breakdown
Residential
10,229
Single Family
8,022
Multi-Family
2,207
Businesses
400
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Multi Family
Built in 1910
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61103, Rockford, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,046 (100%) |
| Owner Occupied HU | 5,025 (45.5%) |
| Renter Occupied HU | 4,904 (44.4%) |
| Vacant Housing Units | 1,117 (10.1%) |
| Median Home Value | $143,110 |
| Average Home Value | $176,481 |
Housing Distribution
Address Breakdown
Residential
10,229
Single Family
8,022
Multi-Family
2,207
Businesses
400
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Justin Smith • Century 21 Affiliated
Mls Name: NorthWest Illinois Alliance of REALTORS
Mls Provider:
Mls ID: #202504502
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.