All-Brick Two-Story
For Sale
$160,000
Pending
1402 N Church Street, Rockford, IL 61103
MULTI_FAMILY - ROCKFORD, IL
Property Size2,350 SF
Days on Market19
Property Features for 1402 N Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Basement, Bedroom 2
Parking
2
Appliances
Refrigerator, Stove/Cooktop
Elementary school
R K Welsh Elementary
Middle school
West Middle
High school
Guilford High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Pending
APN
1114403021
Size
2,350 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH END ADDN EXC W 40 FT ALL LOT 009 BLOCK 005
Tax Annual Amount
2828
Legal Description
NORTH END ADDN EXC W 40 FT ALL LOT 009 BLOCK 005
Utilities
Heating system
Forced Air
Building Details
Year built
1920
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 24
Changed: Jul 31
Last Checked: Aug 11 at 10:06PM
MLS# 202604589
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 tenant-occupied, all-brick two-story duplex offers two spacious units in a solid, original structure. Each unit includes two bedrooms and one full bathroom, and features hardwood flooring with original wood trim and crown molding. Additional home amenities include a basement, forced-air heating, and a shingle roof. Appliances listed include a refrigerator and a stove/cooktop.
A detached two-car garage is currently being used as a carport. The property is located near downtown Rockford and the Rock River, with shopping, dining, and other area amenities close by.
Built in 1920, this duplex combines classic character with a straightforward, repeatable two-unit layout, making it well suited to either an owner-occupant or an investor looking for a multi-family addition.
A detached two-car garage is currently being used as a carport. The property is located near downtown Rockford and the Rock River, with shopping, dining, and other area amenities close by.
Built in 1920, this duplex combines classic character with a straightforward, repeatable two-unit layout, making it well suited to either an owner-occupant or an investor looking for a multi-family addition.
Key Highlights
- 2,350 SF all‑brick two‑story duplex built in 1920
- Two units, each with two bedrooms and one full bathroom
- Tenant‑occupied duplex with hardwood floors plus original wood trim and crown molding
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
$13,401
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
8.38%
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%
$268,020
$268.0K
Cap Rate 7%
$191,443
$191.4K
Cap Rate 9%
$148,900
$148.9K
Market Conditions
NOI Build-Up for 2,350 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
$25.4K $10.80/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$24.4K $10.37/SF
− OpEx
−$11.0K −$4.67/SF
NOI
$13.4K $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 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%
$268,020
Cap Rate 7%
$191,443
Cap Rate 9%
$148,900
Alternative Uses
Best Use
Multifamily LT 5
$219.7K
$192.3K – $256.4K
NOI $15,382 @ 7.0% cap · market cap 9.61%
Second Best
Apartment 5plus
$191.4K
$167.5K – $223.4K
NOI $13,401 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$625.1K
$546.9K – $729.3K
NOI $43,755 @ 7.0% cap · market cap 27.35%
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
1,746
Businesses Nearby
Explore this area
Business Placement
Demographics for 61103, IL
23,294
Population
11,271
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
16.3 sq mi
ZIP Area
1,429
Density / Sq Mi
$47,390
Median Household Income
$34,935
Median Earnings
$952
Median Rent
$114,800
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 - Tenant-occupied, all-brick two-story duplex with two units and original hardwood flooring and trim.
Where is this duplex located?
The property is located at 1402 N Church Street Rockford, IL.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 2,350 SF all‑brick two‑story duplex built in 1920; Two units, each with two bedrooms and one full bathroom; Tenant‑occupied duplex with hardwood floors plus original wood trim and crown molding
