Ranch-Style
For Sale
$365,000
Pending
3786-3788 Sage Drive, Rockford, IL 61114
MULTI_FAMILY - ROCKFORD, IL
Property Size3,544 SF
Days on Market288
Property Features for 3786-3788 Sage Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bathroom 3, Basement, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
Parking
4
Appliances
Dishwasher, Refrigerator, Stove/Cooktop
Elementary school
Clifford P Carlson Elementary
Middle school
Eisenhower 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
1205431026
Size
3,544 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
FOXWOOD HILLS NO 2 PT N 1/2 SE1/4 SEC 5-44-2 LOT 11
Tax Annual Amount
8430
Legal Description
FOXWOOD HILLS NO 2 PT N 1/2 SE1/4 SEC 5-44-2 LOT 11
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Gambino Realtors
(815) 282-2222
Listed By:
Aimee Leon · License #475201058
(815) 516-7879
Added: Oct 30, 2025
Changed: Jul 13
Last Checked: Aug 13 at 9:06AM
MLS# 202506738
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 ranch-style duplex features two separate units, each offering two bedrooms and two bathrooms along with a two-car garage. Both units include partially finished basements with laundry, a full bath, and outside egress. The homes are set up with separate utilities, giving each unit its own service arrangement.
Located in Rockford, Illinois near Riverside Boulevard, the property is positioned close to shopping and dining, including Costco. Access to I-90 is also convenient, which can make it practical for tenants who commute or want nearby daily conveniences.
For investors or owner-occupants, the current configuration supports flexible occupancy. Both units are currently rented, while the layout and separate utilities can also support the option to live in one unit and rent the other. Each unit’s basement amenities and outside egress add functional living space beyond the main level, making the property well-suited for tenants seeking more than a basic duplex setup.
Located in Rockford, Illinois near Riverside Boulevard, the property is positioned close to shopping and dining, including Costco. Access to I-90 is also convenient, which can make it practical for tenants who commute or want nearby daily conveniences.
For investors or owner-occupants, the current configuration supports flexible occupancy. Both units are currently rented, while the layout and separate utilities can also support the option to live in one unit and rent the other. Each unit’s basement amenities and outside egress add functional living space beyond the main level, making the property well-suited for tenants seeking more than a basic duplex setup.
Key Highlights
- 1995 ranch‑style duplex with 2‑bedroom, 2‑bath units
- Each unit includes a 2‑car garage and a partially finished basement
- Partially finished basements include laundry, a full bath, and outside egress
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
$23,197
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
6.36%
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%
$463,940
$463.9K
Cap Rate 7%
$331,386
$331.4K
Cap Rate 9%
$257,744
$257.7K
Market Conditions
NOI Build-Up for 3,544 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
$34.4K $9.72/SF
− Vacancy
−$1.3K −$0.37/SF
EGI
$33.1K $9.35/SF
− OpEx
−$9.9K −$2.81/SF
NOI
$23.2K $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 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%
$463,940
Cap Rate 7%
$331,386
Cap Rate 9%
$257,744
Alternative Uses
Best Use
Multifamily LT 5
$331.4K
$290.0K – $386.6K
NOI $23,197 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$288.7K
$252.6K – $336.8K
NOI $20,209 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$942.7K
$824.8K – $1.10M
NOI $65,986 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 61114, IL
15,569
Population
6,599
Households
2.4
Avg Household Size
49
Median Age
47%
College-Educated
95%
High-School Grad
8.1 sq mi
ZIP Area
1,922
Density / Sq Mi
$83,472
Median Household Income
$47,406
Median Earnings
$1,284
Median Rent
$196,000
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 rented ranch units, each with two bedrooms, two baths, a two-car garage, and partially finished basements.
Where is this duplex located?
The property is located at 3786-3788 Sage Drive Rockford, IL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1995 ranch‑style duplex with 2‑bedroom, 2‑bath units; Each unit includes a 2‑car garage and a partially finished basement; Partially finished basements include laundry, a full bath, and outside egress
