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    Rented Four-Family Home

    1016 S Main Street Belvidere, IL 61008

    Claim this Listing
    For Sale
    $200,000

    MULTI_FAMILY - BELVIDERE, IL

    Property size:
    2,374 SF
    Price / SF:
    $84.25/SF
    Added:
    Apr 10, 2026
    Days on Market:
    96
    Last Refresh:
    Jul 14 at 8:06 am

    Property Features for 1016 S Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    2
    Bathrooms
    4
    Rooms
    Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Basement, Bathroom 1
    Parking
    2
    Appliances
    Refrigerator, Oven
    Standard status
    Active
    APN
    0536176009
    Size
    2,374 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    36-44-3 (Ex S 43.4') Lot 10 Blk 1 Rowans Addn
    Tax Annual Amount
    3444

    Utilities

    Heating system
    Natural Gas, Steam, Hot Water(Heating)

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    4
    Roof type
    Shingle

    Listing agent Angie Wait License #475148472

    Listing office Keller Williams Realty Signature 4201 Galleria Dr., Loves Park, IL

    Listing date Apr 10, 2026

    MLS# 202601984 Listing URL

    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 is a fully rented four-family home featuring a couple of long-term tenants. The property includes two main floor units, each configured as a one-bedroom, one-bath apartment. Additionally, there are two studio apartments located upstairs. A two-car garage is included. The building utilizes gas hot water heat. The owner is responsible for covering the costs of heat, water, sewer, and garbage services. Each unit has a separate electric meter, allowing tenants to pay for their individual electric usage. The property is located in Belvidere, Illinois.

    Key Highlights

    • Completely rented 4‑family home with long‑term tenants
    • Unit mix: main floor 1BR/1BA apartments and upstairs studio apartments
    • 2‑car garage plus separate electric meters (tenants pay electric)

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $23.1k $9.72
    − Vacancy −$877 −$0.37
    EGI $22.2k $9.35
    − OpEx −$6.7k −$2.81
    NOI $15.5k $6.55
    2,374 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $222.0K
    $194.2K – $259.0K (±1% cap)
    NOI $15,539 @ 7.0% cap · market cap 7.77%
    Second Best
    Apartment 5plus
    $193.4K
    $169.2K – $225.6K (±1% cap)
    NOI $13,537 @ 7.0% cap · market cap 6.77%
    Theoretical Best
    Office A
    $631.5K
    $552.5K – $736.7K (±1% cap)
    NOI $44,202 @ 7.0% cap · market cap 22.10%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Skin Care Clinic HVAC Service (Bike/Boat/Book/etc) Store Acupuncture (Bike/Boat/Book/etc) Store Plumbing Service Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Quadplex - Fully rented Belvidere four-family home with long-term tenants.
    Where is this quadplex located?
    The property is located at 1016 S Main Street Belvidere, IL.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Completely rented 4‑family home with long‑term tenants; Unit mix: main floor 1BR/1BA apartments and upstairs studio apartments; 2‑car garage plus separate electric meters (tenants pay electric)
    Contact an agent
    (815) 494-1531
    We can help!
    Contact an agent
    Angie Wait
    Real Estate License ID: 475148472
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