Six-Bedroom
For Sale
$175,000
Pending
1541 West St, Rockford, IL 61102
Two independent rental units provide a straightforward residential income property configuration.
Property Size2,090 SF
Lot Size0.16 Acres
Days on Market52
Property Features for 1541 West St
General Information
Standard status
Pending
Size
2,090 SF
Lot size
0.16 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,334
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty Signature
Listed By:
Cheyenne Golightly
(815) 668-1863
Source:
Exprealty
Added: Aug 26
Changed: Oct 10
Last Checked: Oct 15 at 5:18AM
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
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Investment Insights
Based on property information with market context.
This duplex contains 2,090 square feet of total living space arranged across two independent rental units. Together, the units provide six bedrooms and two full baths, creating a clearly defined two-family residential layout.
The property is located at 1541 West St in Rockford, Illinois, on a 0.16-acre lot. Its duplex format and separate unit arrangement support use as a residential income property, subject to applicable local requirements.
The property is located at 1541 West St in Rockford, Illinois, on a 0.16-acre lot. Its duplex format and separate unit arrangement support use as a residential income property, subject to applicable local requirements.
Key Highlights
- 2,090 square feet of total living space
- Two independent rental units
- Six total bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,680
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,600
$273.6K
Cap Rate 7%
$195,429
$195.4K
Cap Rate 9%
$152,000
$152.0K
Market Conditions
NOI Build-Up for 2,090 SF
Gross rent
$20.3K $9.72/SF
− Vacancy
−$772 −$0.37/SF
EGI
$19.5K $9.35/SF
− OpEx
−$5.9K −$2.81/SF
NOI
$13.7K $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%
$273,600
Cap Rate 7%
$195,429
Cap Rate 9%
$152,000
Alternative Uses
Best Use
Multifamily LT 5
$195.4K
$171.0K – $228.0K
NOI $13,680 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$170.3K
$149.0K – $198.6K
NOI $11,918 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$555.9K
$486.4K – $648.6K
NOI $38,914 @ 7.0% cap · market cap 22.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 61102, IL
17,281
Population
7,386
Households
2.3
Avg Household Size
36
Median Age
8%
College-Educated
78%
High-School Grad
34.1 sq mi
ZIP Area
507
Density / Sq Mi
$42,506
Median Household Income
$28,790
Median Earnings
$850
Median Rent
$95,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent rental units provide a straightforward residential income property configuration.
Where is this duplex located?
The property is located at 1541 West St Rockford, IL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,090 square feet of total living space; Two independent rental units; Six total bedrooms
