2-Unit Renovated
For Sale
$270,000
Pending
2228-2230 10th Street, Rockford, IL 61104
MULTIFAMILY, ROCKFORD, IL
Property Size3,564 SF
Days on Market35
Property Features for 2228-2230 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
4
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
Pending
APN
1136305007
Size
3,564 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNION PARK SUBD LOT 014 BLOCK 005
Tax Annual Amount
2935
Legal Description
UNION PARK SUBD LOT 014 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:
eXp Realty
(888) 574-9405
Listed By:
Mirna Guzman · License #475194001
(815) 209-3024
Added: Sep 1
Changed: Oct 3
Last Checked: Oct 5 at 11:06PM
MLS# 202605523
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 3,564-square-foot duplex, built in 1920, contains two residences. Each has two bedrooms, two full bathrooms, a separate office or den, and an updated kitchen. Renovation work included electrical, plumbing, furnace, windows, flooring, kitchens, bathrooms, fixtures, and finishes. Original brick fireplaces remain in the living areas, and the units have separate utilities.
The property is near downtown Rockford, the Midtown/East State Street corridor, shopping, dining, schools, and UW Hospital.
The property is near downtown Rockford, the Midtown/East State Street corridor, shopping, dining, schools, and UW Hospital.
Key Highlights
- Two units, each with 2 bedrooms, 2 full bathrooms, and a separate office or den
- 3,564 square feet across the duplex
- Extensive updates include electrical, plumbing, furnace, windows, kitchens, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,328
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,560
$466.6K
Cap Rate 7%
$333,257
$333.3K
Cap Rate 9%
$259,200
$259.2K
Market Conditions
NOI Build-Up for 3,564 SF
Gross rent
$34.6K $9.72/SF
− Vacancy
−$1.3K −$0.37/SF
EGI
$33.3K $9.35/SF
− OpEx
−$10.0K −$2.81/SF
NOI
$23.3K $6.55/SF
Area
Rockford, IL
Vacancy
3.80%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,560
Cap Rate 7%
$333,257
Cap Rate 9%
$259,200
Alternative Uses
Best Use
Multifamily LT 5
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$290.3K
$254.0K – $338.7K
NOI $20,323 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$948.0K
$829.5K – $1.11M
NOI $66,359 @ 7.0% cap · market cap 24.58%
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
431
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 includes a separate office or den and independently metered utilities.
Where is this duplex located?
The property is located at 2228-2230 10th Street Rockford, IL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 2 full bathrooms, and a separate office or den; 3,564 square feet across the duplex; Extensive updates include electrical, plumbing, furnace, windows, kitchens, and bathrooms
