Two-Unit Duplex with Updated
For Sale
$120,000
1234 West Street, Rockford, IL 61102
MULTIFAMILY, ROCKFORD, IL
Property Size1,635 SF
Price / SF$73.39
Days on Market138
Property Features for 1234 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking
1
Appliances
Refrigerator, Stove/Cooktop, Oven
Elementary school
Washington Gifted
Middle school
Rockford Enviromental Science Academy
High school
Jefferson High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1127253010
Size
1,635 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CHURCH + ROBERTSONS ADD W 123 FT LOT 006 BLOCK 028
Tax Annual Amount
1700
Legal Description
CHURCH + ROBERTSONS ADD W 123 FT LOT 006 BLOCK 028
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
eat-in kitchens
washer and dryer hookups
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Priscilla Sandoval · License #475211657
(608) 718-8890
Added: Apr 29
Changed: Sep 12
Last Checked: Sep 13 at 10:06PM
MLS# 202602375
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 1,635-square-foot duplex was built in 1977 and is arranged across two stories. Each of the two units includes two bedrooms and an eat-in kitchen, with a practical room layout and washer-and-dryer hookups. The property also includes a basement and a garage with peeling paint. HVAC equipment has been updated, while heating is provided by natural gas and cooling by central air. Kitchen appliances include refrigerators, stoves or cooktops, and ovens.
The property is being sold as-is, and the seller has not occupied it. FHA financing is not available because of the peeling paint in the garage. The source information also identifies a possible conversion to a single-family residence, subject to buyer verification.
The property is being sold as-is, and the seller has not occupied it. FHA financing is not available because of the peeling paint in the garage. The source information also identifies a possible conversion to a single-family residence, subject to buyer verification.
Key Highlights
- Two‑unit duplex totaling 1,635 square feet
- Each unit includes 2 bedrooms and an eat‑in kitchen
- HVAC system recently updated
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
$10,702
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
8.92%
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%
$214,040
$214.0K
Cap Rate 7%
$152,886
$152.9K
Cap Rate 9%
$118,911
$118.9K
Market Conditions
NOI Build-Up for 1,635 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
$15.9K $9.72/SF
− Vacancy
−$604 −$0.37/SF
EGI
$15.3K $9.35/SF
− OpEx
−$4.6K −$2.81/SF
NOI
$10.7K $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%
$214,040
Cap Rate 7%
$152,886
Cap Rate 9%
$118,911
Alternative Uses
Best Use
Multifamily LT 5
$152.9K
$133.8K – $178.4K
NOI $10,702 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$133.2K
$116.5K – $155.4K
NOI $9,323 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$434.9K
$380.5K – $507.4K
NOI $30,442 @ 7.0% cap · market cap 25.37%
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
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 61102, IL
17,281
Population
7,386
Households
2.3
Avg Household Size
36
Median Age
8%
College-Educated
78%
High-School Grad
34.1 sq mi
ZIP Area
507
Density / Sq Mi
$42,506
Median Household Income
$28,790
Median Earnings
$850
Median Rent
$95,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - This residential property offers eat-in kitchens, laundry hookups, and central air across two separate units.
Where is this duplex located?
The property is located at 1234 West Street Rockford, IL.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,635 square feet; Each unit includes 2 bedrooms and an eat‑in kitchen; HVAC system recently updated
