Updated Two-Unit
For Sale
$158,000
Pending
1215 42nd Ave, Rockford, IL 61109
Each residence offers private laundry hookups, dedicated parking, and access to a sizable fenced backyard.
Property Size1,508 SF
Days on Market10
Property Features for 1215 42nd Ave
General Information
Standard status
Pending
Size
1,508 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,003
Listing Agency:
Century 21 Affiliated
Listed By:
Carlos Serna · License #475161572
(815) 262-3919
Source:
Exprealty
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 24 at 4:29PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This updated duplex contains two separate residences, each arranged with two bedrooms, one bathroom, and generous living and bedroom areas. Both units include in-unit laundry hookups, parking assigned to the respective side, and access to a large fenced backyard. The property is positioned near the airport with convenient access to highway routes, shopping, and recreational destinations. One residence is currently leased, while the second provides flexibility for an owner occupant or additional household use.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath per side
- Updated building with 1,508 PropertySize
- In‑unit laundry hookups in both residences
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
$9,871
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
6.25%
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%
$197,420
$197.4K
Cap Rate 7%
$141,014
$141.0K
Cap Rate 9%
$109,678
$109.7K
Market Conditions
NOI Build-Up for 1,508 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
$14.7K $9.72/SF
− Vacancy
−$557 −$0.37/SF
EGI
$14.1K $9.35/SF
− OpEx
−$4.2K −$2.81/SF
NOI
$9.9K $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%
$197,420
Cap Rate 7%
$141,014
Cap Rate 9%
$109,678
Alternative Uses
Best Use
Multifamily LT 5
$141.0K
$123.4K – $164.5K
NOI $9,871 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$122.8K
$107.5K – $143.3K
NOI $8,599 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$401.1K
$351.0K – $468.0K
NOI $28,078 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 61109, IL
26,958
Population
11,829
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
38.5 sq mi
ZIP Area
700
Density / Sq Mi
$61,702
Median Household Income
$38,375
Median Earnings
$916
Median Rent
$124,900
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 - Each residence offers private laundry hookups, dedicated parking, and access to a sizable fenced backyard.
Where is this duplex located?
The property is located at 1215 42nd Ave Rockford, IL.
What is the asking price?
The asking price for this property is $158,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath per side; Updated building with 1,508 PropertySize; In‑unit laundry hookups in both residences
