Two-Unit Duplex with
For Sale
$215,000
Pending
110 W 3rd St, Belvidere, IL 61008
Separate apartments offer hardwood flooring, flexible room layouts, storage, and access to a fenced backyard.
Property Size1,624 SF
Days on Market61
Property Features for 110 W 3rd St
General Information
Standard status
Pending
Size
1,624 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,434
Amenities
hardwood floors
built-in kitchen
new appliances
flex room
basement
fenced backyard
walk-in storage
eat-in kitchen
Listing Agency:
Berkshire Hathaway HomeServices Starck RE
Listed By:
Debbie Carlson · License #471002493
(815) 544-8848
Source:
Exprealty
Added: Aug 27
Changed: Oct 25
Last Checked: Oct 24 at 6:58PM
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 Berkshire Hathaway HomeServices Starck RE
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Investment Insights
Based on property information with market context.
This duplex contains two distinct apartments with practical layouts and separate living areas. The first-floor unit includes hardwood flooring, fresh interior paint, a built-in kitchen with substantial storage, new appliances, one bedroom, and a flex room. It also connects directly to the basement and includes a small garage and carport. The upper apartment features an eat-in kitchen, two bedrooms, hardwood floors, a large walk-in storage area, and a second exit to the backyard.
A fenced backyard provides outdoor space with limited yard maintenance. The property is located at 110 W 3rd St in Belvidere, Illinois. Both apartments are described as ready for occupancy, providing a two-unit residential configuration for an owner-occupant or investor.
A fenced backyard provides outdoor space with limited yard maintenance. The property is located at 110 W 3rd St in Belvidere, Illinois. Both apartments are described as ready for occupancy, providing a two-unit residential configuration for an owner-occupant or investor.
Key Highlights
- Two‑unit duplex at 110 W 3rd St, Belvidere, IL
- First‑floor apartment has 1 bedroom plus a flex room
- Upper apartment includes 2 bedrooms and an eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,630
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,600
$212.6K
Cap Rate 7%
$151,857
$151.9K
Cap Rate 9%
$118,111
$118.1K
Market Conditions
NOI Build-Up for 1,624 SF
Gross rent
$15.8K $9.72/SF
− Vacancy
−$600 −$0.37/SF
EGI
$15.2K $9.35/SF
− OpEx
−$4.6K −$2.81/SF
NOI
$10.6K $6.55/SF
Area
Boone County, 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%
$212,600
Cap Rate 7%
$151,857
Cap Rate 9%
$118,111
Alternative Uses
Best Use
Multifamily LT 5
$151.9K
$132.9K – $177.2K
NOI $10,630 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$132.3K
$115.8K – $154.4K
NOI $9,261 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$432.0K
$378.0K – $504.0K
NOI $30,238 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
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Business Placement
Demographics for 61008, IL
33,747
Population
13,406
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
84.3 sq mi
ZIP Area
400
Density / Sq Mi
$75,833
Median Household Income
$38,509
Median Earnings
$953
Median Rent
$185,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer hardwood flooring, flexible room layouts, storage, and access to a fenced backyard.
Where is this duplex located?
The property is located at 110 W 3rd St Belvidere, IL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit duplex at 110 W 3rd St, Belvidere, IL; First‑floor apartment has 1 bedroom plus a flex room; Upper apartment includes 2 bedrooms and an eat‑in kitchen
