Two-Unit Duplex
For Sale
$179,900
1304 Benton St, Rockford, IL 61107
Two residential units offer distinct bedroom and bath configurations, with the lower unit currently occupied by a tenant.
Property Size2,144 SF
Price / SF$83.91
Days on Market128
Property Features for 1304 Benton St
General Information
Standard status
Active
Size
2,144 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,772
Listing Agency:
Smart Home Realty
(815) 556-2272
Listed By:
Dimas Trujillo · License #475182208
(815) 556-2272
Source:
Exprealty
Added: Apr 7
Changed: Aug 10
Last Checked: Aug 12 at 12:07PM
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 Smart Home Realty
Investment Insights
Based on property information with market context.
Located at 1304 Benton St in Rockford, Illinois, this 2,144-square-foot duplex contains two separate residential units. The upper unit includes three bedrooms and 1.5 baths. The lower unit has two bedrooms and one full bath and is currently rented. The configuration may accommodate an owner-occupant in one unit while retaining rental use in the other.
Key Highlights
- 2,144‑square‑foot duplex at 1304 Benton St, Rockford, IL
- Upper unit includes 3 bedrooms and 1.5 baths
- Lower unit offers 2 bedrooms and 1 full bath
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
$14,033
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
7.80%
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%
$280,660
$280.7K
Cap Rate 7%
$200,471
$200.5K
Cap Rate 9%
$155,922
$155.9K
Market Conditions
NOI Build-Up for 2,144 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
$20.8K $9.72/SF
− Vacancy
−$792 −$0.37/SF
EGI
$20.0K $9.35/SF
− OpEx
−$6.0K −$2.81/SF
NOI
$14.0K $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%
$280,660
Cap Rate 7%
$200,471
Cap Rate 9%
$155,922
Alternative Uses
Best Use
Multifamily LT 5
$200.5K
$175.4K – $233.9K
NOI $14,033 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$174.7K
$152.8K – $203.8K
NOI $12,226 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$570.3K
$499.0K – $665.3K
NOI $39,920 @ 7.0% cap · market cap 22.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 61107, IL
30,722
Population
13,711
Households
2.2
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
2,062
Density / Sq Mi
$75,492
Median Household Income
$42,494
Median Earnings
$1,053
Median Rent
$165,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct bedroom and bath configurations, with the lower unit currently occupied by a tenant.
Where is this duplex located?
The property is located at 1304 Benton St Rockford, IL.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 2,144‑square‑foot duplex at 1304 Benton St, Rockford, IL; Upper unit includes 3 bedrooms and 1.5 baths; Lower unit offers 2 bedrooms and 1 full bath
