Vacant Two-Unit
For Sale
$149,000
1414 16th Ave, Rockford, IL 61104
Up/down layout with separate utilities, individual furnaces, and a detached garage.
Property Size1,590 SF
Price / SF$93.71
Days on Market63
Property Features for 1414 16th Ave
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,602
Listing Agency:
Keller Williams Realty Signature
Listed By:
Bart Becker
(815) 289-4401
Source:
Exprealty
Added: Aug 9
Changed: Oct 6
Last Checked: Oct 9 at 8:12PM
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 Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
This vacant duplex contains 1,590 square feet in an up-and-down configuration. The lower residence includes a kitchen, one bedroom, dining room, and enclosed front porch, while the upper residence provides a kitchen, two bedrooms, and a living room. Separate gas and electric service support each unit, with shared city water and an individual high-efficiency furnace for each residence. Both ranges remain with the property.
Exterior features include vinyl siding, updated fascia and soffits, a roof replaced in 2016, a deck, and a partially fenced yard. A detached three-car garage with alley access adds substantial storage and parking capacity. The property is vacant and will be conveyed as-is; FHA financing is not available.
Exterior features include vinyl siding, updated fascia and soffits, a roof replaced in 2016, a deck, and a partially fenced yard. A detached three-car garage with alley access adds substantial storage and parking capacity. The property is vacant and will be conveyed as-is; FHA financing is not available.
Key Highlights
- 1,590 sq. ft. up/down duplex with 1‑bedroom and 2‑bedroom units
- Separate gas and electric utilities for each unit; shared city water
- Individual high‑efficiency furnace serving each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,407
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,140
$208.1K
Cap Rate 7%
$148,671
$148.7K
Cap Rate 9%
$115,633
$115.6K
Market Conditions
NOI Build-Up for 1,590 SF
Gross rent
$15.5K $9.72/SF
− Vacancy
−$587 −$0.37/SF
EGI
$14.9K $9.35/SF
− OpEx
−$4.5K −$2.81/SF
NOI
$10.4K $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%
$208,140
Cap Rate 7%
$148,671
Cap Rate 9%
$115,633
Alternative Uses
Best Use
Multifamily LT 5
$148.7K
$130.1K – $173.5K
NOI $10,407 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$129.5K
$113.3K – $151.1K
NOI $9,067 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$422.9K
$370.1K – $493.4K
NOI $29,605 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
691
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 - Up/down layout with separate utilities, individual furnaces, and a detached garage.
Where is this duplex located?
The property is located at 1414 16th Ave Rockford, IL.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 1,590 sq. ft. up/down duplex with 1‑bedroom and 2‑bedroom units; Separate gas and electric utilities for each unit; shared city water; Individual high‑efficiency furnace serving each residence
