Vacant Two-Unit
For Sale
$154,900
1414 16th Ave, Rockford, IL 61104
Up/down layout with separate utilities, individual furnaces, and a detached garage.
Property Size1,590 SF
Price / SF$97.42
Days on Market14
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
(815) 289-4401
Listed By:
Bart Becker
(815) 289-4401
Source:
Exprealty
Added: Aug 9
Changed: Aug 21
Last Checked: Aug 21 at 6:11AM
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 = 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
$10,407
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
6.72%
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%
$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
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
$15.5K $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 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%
$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 6.72%
Second Best
Apartment 5plus
$129.5K
$113.3K – $151.1K
NOI $9,067 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$422.9K
$370.1K – $493.4K
NOI $29,605 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - 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 $154,900.
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
