Remodeled Duplex with
For Sale
$199,900
Pending
135 S 8th Street, South Beloit, IL 61080
MULTIFAMILY, SOUTH BELOIT, IL
Property Size1,617 SF
Days on Market53
Property Features for 135 S 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Basement, Bedroom 1, Bathroom 1, Bedroom 2
Appliances
Dishwasher, Refrigerator, Oven
Elementary school
Riverview Elementary
Middle school
South Beloit Jr High
High school
South Beloit Sr High
Elementary school district
South Beloit 320-Cnty of Winnebago
Middle school district
South Beloit 320-Cnty of Winnebago
High school district
South Beloit 320-Cnty of Winnebago
Subdivision
Winnebago County
Standard status
Pending
APN
0406255010
Size
1,617 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FISHER MILLS + GOODHUES ADD TO THE TOWN OF BELOIT S 1/2 S 1/2 LT 1 + EXC E 45 FT S 1/2 S 1/2 LOT 002 BLOCK 012
Tax Annual Amount
2248
Legal Description
FISHER MILLS + GOODHUES ADD TO THE TOWN OF BELOIT S 1/2 S 1/2 LT 1 + EXC E 45 FT S 1/2 S 1/2 LOT 002 BLOCK 012
Utilities
Heating system
Electric (Heating), Forced Air
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Olga Kampmeier · License #475166479
(815) 621-9180
Added: Jul 6
Changed: Aug 21
Last Checked: Aug 27 at 9:06PM
MLS# 202604057
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 1,617-square-foot duplex in South Beloit includes a two-bedroom, one-bathroom main-level residence and a remodeled one-bedroom apartment above. The lower unit has a living room, updated kitchen, family room with a stone fireplace, and a primary bedroom with walk-in storage. An attached two-car garage has been adapted into a studio with sliding patio doors, while the layout allows for potential reconfiguration back to garage use.
Property improvements include updated plumbing, electrical, drywall, flooring, stairs, interior and exterior doors, furnace, and water heaters. Permits were pulled for the work. The address is 135 S 8th Street, South Beloit, IL 61080, located minutes from downtown Beloit. Appliances include a dishwasher, refrigerator, and oven; heating is provided by electric and forced-air systems.
Property improvements include updated plumbing, electrical, drywall, flooring, stairs, interior and exterior doors, furnace, and water heaters. Permits were pulled for the work. The address is 135 S 8th Street, South Beloit, IL 61080, located minutes from downtown Beloit. Appliances include a dishwasher, refrigerator, and oven; heating is provided by electric and forced-air systems.
Key Highlights
- 1,617‑square‑foot duplex with two residential units
- Main‑level unit includes 2 bedrooms, 1 bathroom, family room, and stone fireplace
- Remodeled upper unit offers 1 bedroom and updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,049
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,980
$321.0K
Cap Rate 7%
$229,271
$229.3K
Cap Rate 9%
$178,322
$178.3K
Market Conditions
NOI Build-Up for 1,617 SF
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.
Gross rent
$24.8K $15.36/SF
− Vacancy
−$1.9K −$1.18/SF
EGI
$22.9K $14.18/SF
− OpEx
−$6.9K −$4.25/SF
NOI
$16.0K $9.93/SF
Area
Winnebago County, IL
Vacancy
7.69%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,980
Cap Rate 7%
$229,271
Cap Rate 9%
$178,322
Alternative Uses
Best Use
Multifamily LT 5
$229.3K
$200.6K – $267.5K
NOI $16,049 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$203.2K
$177.8K – $237.0K
NOI $14,221 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$440.7K
$385.7K – $514.2K
NOI $30,852 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 61080, IL
11,252
Population
4,773
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
93%
High-School Grad
25.1 sq mi
ZIP Area
448
Density / Sq Mi
$78,533
Median Household Income
$44,081
Median Earnings
$877
Median Rent
$172,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated interiors, flexible bonus space, and options for an owner-occupant or investor.
Where is this duplex located?
The property is located at 135 S 8th Street South Beloit, IL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,617‑square‑foot duplex with two residential units; Main‑level unit includes 2 bedrooms, 1 bathroom, family room, and stone fireplace; Remodeled upper unit offers 1 bedroom and updated finishes
