Renovated Duplex with Additional
For Sale
$99,000
Pending
914-916 N Winnebago St, Rockford, IL 61103
MULTIFAMILY, ROCKFORD, IL
Property Size1,400 SF
Days on Market207
Property Features for 914-916 N Winnebago St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 1
Parking
2
Appliances
Stove/Cooktop
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
1114356026
Size
1,400 SF
Taxes and HOA fees
Tax Year
205
Tax Description
HASKELL & KIMBALLS SUB SW 1/4 SEC 14-44-1
Tax Annual Amount
1685
Legal Description
HASKELL & KIMBALLS SUB SW 1/4 SEC 14-44-1
Utilities
Heating system
Hot Water(Heating), Natural Gas, Steam
Building Details
Year built
1908
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
Listed By:
Nastasia Brown · License #475181736
(815) 315-1111
Added: Feb 19
Changed: Sep 13
Last Checked: Sep 14 at 3:06AM
MLS# 202601164
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 1,400-square-foot duplex, built in 1908, includes an upstairs unit and a lower unit with two bathrooms, a basement, and bedroom space. Recent work includes a shingle roof, new fascia and soffit, completed brick tuck pointing at the front exterior, replacement flooring in the bedrooms, bathroom, kitchen, and walkway, plus updated bathroom finishes. The upstairs unit has fresh paint and new ceiling fans, while new water piping was installed in the basement. A split system provides heating and cooling for both levels, and a stove/cooktop is included.
The property is located at 914-916 N Winnebago St in Rockford, Illinois, and is currently zoned R-1. The seller also owns the lot next to the building and includes it with the sale. The lower unit was previously used as commercial space, including as a grocery store.
The property is located at 914-916 N Winnebago St in Rockford, Illinois, and is currently zoned R-1. The seller also owns the lot next to the building and includes it with the sale. The lower unit was previously used as commercial space, including as a grocery store.
Key Highlights
- 1,400‑square‑foot duplex built in 1908
- New shingle roof, fascia, soffit, and front‑exterior brick tuck pointing
- New flooring installed in bedrooms, bathroom, kitchen, and walkway
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
$7,983
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
8.06%
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%
$159,660
$159.7K
Cap Rate 7%
$114,043
$114.0K
Cap Rate 9%
$88,700
$88.7K
Market Conditions
NOI Build-Up for 1,400 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
$15.1K $10.80/SF
− Vacancy
−$605 −$0.43/SF
EGI
$14.5K $10.37/SF
− OpEx
−$6.5K −$4.67/SF
NOI
$8.0K $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%
$159,660
Cap Rate 7%
$114,043
Cap Rate 9%
$88,700
Alternative Uses
Best Use
Multifamily LT 5
$130.9K
$114.6K – $152.7K
NOI $9,164 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$114.0K
$99.8K – $133.1K
NOI $7,983 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$372.4K
$325.8K – $434.5K
NOI $26,067 @ 7.0% cap · market cap 26.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
552
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
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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 - Two-level duplex with refreshed interiors, split-system heating and cooling, and a separately owned adjoining lot included.
Where is this duplex located?
The property is located at 914-916 N Winnebago St Rockford, IL.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: 1,400‑square‑foot duplex built in 1908; New shingle roof, fascia, soffit, and front‑exterior brick tuck pointing; New flooring installed in bedrooms, bathroom, kitchen, and walkway
