Real Estate Investing in Durand, Illinois (61024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61024 (Durand, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.9% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Durand, IL (61024)?
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Market Analysis: 61024 Durand
The 61024 ZIP covers a section of Durand that demands careful diligence. Prices near $232K look accessible, but the work to make a deal cash flow is real.
The 61024 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 61024 sits on the difficult end of the IL spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 61024 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. resilient returns are possible in 61024, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Durand:
Market Trends
Home Value History (with trend line)
📊 How Does 61024 Compare?
| Metric | 61024 | Durand | Rockford, IL | Illinois |
|---|---|---|---|---|
| Home Value | $231,968 | $231,968 | N/A | $279,761 |
| 5-Year CAGR | 9.6% | 9.6% | N/A | 6.6% |
| Avg Rent | $963 | $963 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61024 (Durand, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $231,968 |
| Monthly Rent | $963 |
| Price-to-Rent | 20.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 12.9% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +11.0% ▲ |
| 5-Year CAGR | +9.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61024
Population: 2,264
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61024
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What monthly rent should investors expect in Durand, IL?
Average rent in Durand, IL is approximately $963/mo per month. Against $232K home values that yields a reasonable rent-to-price ratio.
Does Durand, IL favor landlords or tenants?
Rental owners in Durand, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Is Durand, IL a smart market for rental property?
The 3.0/5 investability rating in Durand, IL reflects its $232K prices and $963/mo rents. Investors generally consider it a solid option within IL.
What kind of tenants rent in Durand, IL?
Tenant quality in Durand, IL ranks as solid. Landlords generally report consistent occupancy at market rents of $963/mo.
What kind of vacancy should I budget for in Durand, IL?
Occupancy in Durand, IL runs stable with elevated vacancy. Well-priced units at $963/mo lease on reasonable timelines.
You know 61024 now. You don’t know where it ranks.
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How 61024 ranks in Rockford, IL
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