Rockford Duplex Investment
1415 5th Avenue Rockford, IL 61104
1415 5th Avenue, Rockford, IL, 61104
$119,900
Pending
For Sale
$119,900
Pending
Duplex in Rockford, IL with income potential.
Property Size1,782 SF
Days on Market117
Property Features for 1415 5th Avenue
General Information
- Standard status
- Pending
- Size
- 1,782 SF
- Property subtype
- Multi Family / 2 Units
Building Details
- Year Built
- 1900
Listing agency
Smart Home Realty
(815) 243-1771
Listed by
Dimas Trujillo · License #475182208
Source
Compass
Added: Mar 27 Updated: Jul 10 at 12:21PM Checked: Jul 20 at 3:55AM
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 1415 5th Ave in Rockford, IL, this duplex presents an investment opportunity. The property, with a size of 1782 square feet, offers rental income and potential for increased value. The lower unit is clean and move-in ready, currently occupied by a tenant on a month-to-month lease. The upper unit could benefit from updates, offering the opportunity to increase rent and improve the property's overall value. The gas utility is split 50/50 between tenants, while electric is separately metered and paid by tenants. The landlord currently covers water, sewer, and garbage, which allows for potential adjustments for improved returns. Situated in a solid rental area, this property offers both reliable income and future growth potential.
Key Highlights
- Steady rental income from a move‑in ready lower unit.
- Opportunity to increase value and rental income by updating the upper unit.
- Efficient utility setup with separate electric meters for each unit.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.2k | $10.80 |
| − Vacancy | −$770 | −$0.43 |
| EGI | $18.5k | $10.37 |
| − OpEx | −$8.3k | −$4.67 |
| NOI | $10.2k | $5.70 |
1,782 SF · lease $10.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$166.6K
$145.8K – $194.4K
NOI $11,664 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$145.2K
$127.0K – $169.4K
NOI $10,162 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$474.0K
$414.7K – $553.0K
NOI $33,179 @ 7.0% cap · market cap 27.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex in Rockford, IL with income potential.
Where is this duplex located?
The property is located at 1415 5th Avenue Rockford, IL.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Steady rental income from a move‑in ready lower unit.; Opportunity to increase value and rental income by updating the upper unit.; Efficient utility setup with separate electric meters for each unit.
