Duplex with Four-Car
For Sale
$189,900
Pending
1211 4th Ave, Rockford, IL 61104
Both residences are vacant and offer matching two-bedroom, one-bathroom layouts with separate living and dining rooms.
Property Size1,976 SF
Days on Market10
Property Features for 1211 4th Ave
General Information
Standard status
Pending
Size
1,976 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,098
Amenities
basement
attic storage
deck
Building Details
Buildings
1
Listing Agency:
Gambino Realtors
Listed By:
Jeffrey Brito · License #475211266
(815) 505-8589
Source:
Exprealty
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 2:18PM
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 Gambino Realtors
Investment Insights
Based on property information with market context.
This 1,976-square-foot duplex contains two vacant residences, each arranged with two bedrooms, one bathroom, a living room, and a dining room. The lower unit has updated flooring, paint, windows, electrical panel, and baseboard heat, plus basement access for laundry and storage. The upper unit features newer flooring and cabinetry, fresh paint, a newer furnace, and attic storage.
The property includes a four-car garage, newer water heaters, new gutters and rear steps, and a newer deck. Downtown, shopping, and UW Swedish American Hospital are a short drive away.
The property includes a four-car garage, newer water heaters, new gutters and rear steps, and a newer deck. Downtown, shopping, and UW Swedish American Hospital are a short drive away.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, living room, and dining room
- 1,976 square feet of building area
- Four‑car garage
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
$12,934
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
6.81%
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%
$258,680
$258.7K
Cap Rate 7%
$184,771
$184.8K
Cap Rate 9%
$143,711
$143.7K
Market Conditions
NOI Build-Up for 1,976 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
$19.2K $9.72/SF
− Vacancy
−$730 −$0.37/SF
EGI
$18.5K $9.35/SF
− OpEx
−$5.5K −$2.81/SF
NOI
$12.9K $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%
$258,680
Cap Rate 7%
$184,771
Cap Rate 9%
$143,711
Alternative Uses
Best Use
Multifamily LT 5
$184.8K
$161.7K – $215.6K
NOI $12,934 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$161.0K
$140.9K – $187.8K
NOI $11,268 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$525.6K
$459.9K – $613.2K
NOI $36,792 @ 7.0% cap · market cap 19.37%
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
1,599
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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences are vacant and offer matching two-bedroom, one-bathroom layouts with separate living and dining rooms.
Where is this duplex located?
The property is located at 1211 4th Ave Rockford, IL.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom, living room, and dining room; 1,976 square feet of building area; Four‑car garage
