2-Unit Brick
New
For Sale
$183,500
1011 15th Ave, Rockford, IL 61104
Each residence includes two bedrooms, a full bath, living and dining rooms, and an enclosed rear porch.
Property Size2,756 SF
Price / SF$66.58
Days on Market7
Property Features for 1011 15th Ave
General Information
Standard status
Active
Size
2,756 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,595
Amenities
enclosed back porches
shared basement
full attic
fenced concrete patio
washer
dryer
refrigerator
stove
portable dishwasher
Building Details
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Keller Williams Realty Signature
Listed By:
Roger Mackeben
(815) 985-0245
Source:
Exprealty
Added: Oct 4
Changed: Oct 7
Last Checked: Oct 10 at 1:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
This two-story brick duplex contains two residences of approximately 1,378 square feet each. Both units have two bedrooms, a kitchen, a full bath, dining and living rooms, and a stone fireplace; the fireplaces are sealed, with electrical outlets for inserts. Enclosed rear porches provide additional sunroom space.
The property includes a detached two-car garage, a fenced concrete patio, and a full attic with updated foam insulation and flooring. Basement areas are shared, with separate washers and dryers for each unit. Utilities are separately metered. Washers, dryers, refrigerators, stoves, and portable dishwashers are included. The property is being sold as-is, including the appliances.
The property includes a detached two-car garage, a fenced concrete patio, and a full attic with updated foam insulation and flooring. Basement areas are shared, with separate washers and dryers for each unit. Utilities are separately metered. Washers, dryers, refrigerators, stoves, and portable dishwashers are included. The property is being sold as-is, including the appliances.
Key Highlights
- Two‑story brick duplex with two units of approximately 1,378 square feet each
- Both units have two bedrooms, a full bath, living room, dining room, and stone fireplace
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,716
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,320
$314.3K
Cap Rate 7%
$224,514
$224.5K
Cap Rate 9%
$174,622
$174.6K
Market Conditions
NOI Build-Up for 2,756 SF
Gross rent
$29.8K $10.80/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$28.6K $10.37/SF
− OpEx
−$12.9K −$4.67/SF
NOI
$15.7K $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 Rate 5%
$314,320
Cap Rate 7%
$224,514
Cap Rate 9%
$174,622
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,039 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$224.5K
$196.5K – $261.9K
NOI $15,716 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$733.1K
$641.4K – $855.3K
NOI $51,315 @ 7.0% cap · market cap 27.96%
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
628
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 two bedrooms, a full bath, living and dining rooms, and an enclosed rear porch.
Where is this duplex located?
The property is located at 1011 15th Ave Rockford, IL.
What is the asking price?
The asking price for this property is $183,500.
What are key features of this property?
This property features: Two‑story brick duplex with two units of approximately 1,378 square feet each; Both units have two bedrooms, a full bath, living room, dining room, and stone fireplace; Detached two‑car garage
