Duplex with Updated
For Sale
$299,900
Pending
129 Lawn Pl, Rockford, IL 61103
One residence has been refreshed in recent years, and the property has long-term tenants.
Property Size3,446 SF
Days on Market8
Property Features for 129 Lawn Pl
General Information
Standard status
Pending
Size
3,446 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,133
Listing Agency:
ReThink Realty
(608) 690-7533
Listed By:
Colin Schindler · License #8960994
(608) 295-7814
Source:
Exprealty
Added: Oct 8
Changed: Oct 15
Last Checked: Oct 15 at 2:12AM
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 ReThink Realty
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Investment Insights
Based on property information with market context.
At 129 Lawn Place, this 3,446-square-foot duplex includes two residences, with updates made to one side in recent years. Long-term tenants are in place, providing an established rental component.
The property is in Rockford’s Churchill’s Grove neighborhood and is within walking distance of private river access.
The property is in Rockford’s Churchill’s Grove neighborhood and is within walking distance of private river access.
Key Highlights
- 3,446‑square‑foot duplex
- Updates made to one side within the last few years
- Long‑term tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,556
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,120
$451.1K
Cap Rate 7%
$322,229
$322.2K
Cap Rate 9%
$250,622
$250.6K
Market Conditions
NOI Build-Up for 3,446 SF
Gross rent
$33.5K $9.72/SF
− Vacancy
−$1.3K −$0.37/SF
EGI
$32.2K $9.35/SF
− OpEx
−$9.7K −$2.81/SF
NOI
$22.6K $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 Rate 5%
$451,120
Cap Rate 7%
$322,229
Cap Rate 9%
$250,622
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$282.0K – $375.9K
NOI $22,556 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$280.7K
$245.6K – $327.5K
NOI $19,650 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$916.6K
$802.0K – $1.07M
NOI $64,162 @ 7.0% cap · market cap 21.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 61103, IL
23,294
Population
11,271
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
16.3 sq mi
ZIP Area
1,429
Density / Sq Mi
$47,390
Median Household Income
$34,935
Median Earnings
$952
Median Rent
$114,800
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
Frequently Asked Questions
What type of property is this?
Duplex - One residence has been refreshed in recent years, and the property has long-term tenants.
Where is this duplex located?
The property is located at 129 Lawn Pl Rockford, IL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 3,446‑square‑foot duplex; Updates made to one side within the last few years; Long‑term tenants in place
