Duplex with Detached
New
For Sale
$183,500
1011 15th Avenue, Rockford, IL 61104
MULTIFAMILY, ROCKFORD, IL
Property Size2,756 SF
Price / SF$66.58
Days on Market2
Property Features for 1011 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Basement, Bedroom 4
Parking
4
Appliances
Dryer, Refrigerator, Stove/Cooktop, Washer
Elementary school
District 205-RFD
Middle school
District 205-RFD
High school
District 205-RFD
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1135229009
Size
2,756 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PETERSONS SUBD OF PT NE 1/4 SEC 35-44-1 EXC W88 1/2 FT ALL LOT 001 BLOCK 006
Tax Annual Amount
2595
Legal Description
PETERSONS SUBD OF PT NE 1/4 SEC 35-44-1 EXC W88 1/2 FT ALL LOT 001 BLOCK 006
Utilities
Heating system
Natural Gas, Forced Air
Amenities
sun rooms
on-site laundry
fenced patio
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Roger Mackeben
(815) 985-0245
Added: Oct 4
Changed: Oct 5
Last Checked: Oct 5 at 4:06PM
MLS# 202606282
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story brick duplex contains 2,756 square feet, with approximately 1,378 square feet in each unit. Both residences have two bedrooms, a kitchen, a full bathroom, separate living and dining rooms, and an enclosed rear porch. The fireplaces are closed off, with electrical outlets in place for inserts. A detached two-car garage serves the property, alongside a fenced concrete patio.
The building dates to 1928. Utilities are separate for the units, while basement space is shared; each residence has its own washer and dryer. The full attic has updated foam insulation and flooring. Included appliances are refrigerators, stoves, portable dishwashers, washers, and dryers. The property is being sold as-is, including the appliances.
The building dates to 1928. Utilities are separate for the units, while basement space is shared; each residence has its own washer and dryer. The full attic has updated foam insulation and flooring. Included appliances are refrigerators, stoves, portable dishwashers, washers, and dryers. The property is being sold as-is, including the appliances.
Key Highlights
- Two‑unit brick duplex with 2,756 square feet total
- Approximately 1,378 square feet per residence; each unit has 2 bedrooms
- Detached 2‑car garage and fenced concrete patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,716
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,320
$314.3K
Cap Rate 7%
$224,514
$224.5K
Cap Rate 9%
$174,622
$174.6K
Market Conditions
NOI Build-Up for 2,756 SF
Gross rent
$29.8K $10.80/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$28.6K $10.37/SF
− OpEx
−$12.9K −$4.67/SF
NOI
$15.7K $5.70/SF
Area
Rockford, IL
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,320
Cap Rate 7%
$224,514
Cap Rate 9%
$174,622
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,039 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$224.5K
$196.5K – $261.9K
NOI $15,716 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$733.1K
$641.4K – $855.3K
NOI $51,315 @ 7.0% cap · market cap 27.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 61104, IL
17,354
Population
9,253
Households
1.9
Avg Household Size
32
Median Age
9%
College-Educated
75%
High-School Grad
4.5 sq mi
ZIP Area
3,856
Density / Sq Mi
$32,161
Median Household Income
$26,277
Median Earnings
$854
Median Rent
$83,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a full bath, living and dining rooms, and an enclosed rear porch.
Where is this duplex located?
The property is located at 1011 15th Avenue Rockford, IL.
What is the asking price?
The asking price for this property is $183,500.
What are key features of this property?
This property features: Two‑unit brick duplex with 2,756 square feet total; Approximately 1,378 square feet per residence; each unit has 2 bedrooms; Detached 2‑car garage and fenced concrete patio
