Two-Unit Duplex
New
For Sale
$175,000
1541 West Street, Rockford, IL 61102
MULTIFAMILY, ROCKFORD, IL
Property Size2,090 SF
Lot Size0.16 Acres
Price / SF$83.73
Days on Market2
Property Features for 1541 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Basement, Bathroom 1, Bedroom 6, Bedroom 1
Parking
2
Appliances
Dryer, Refrigerator, Stove/Cooktop, Washer
Elementary school
Washington Gifted
Middle school
Rockford Enviromental Science Academy
High school
Jefferson High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1127330035
Size
2,090 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DIST:16 CITY/MUNI/TWP:ROCKFORD SEC/TWN/RNG/MER:SEC 27 TWN 44 RNG 01 SULLIVAN + DWYERS SUBD PT SW1/4 SEC 27-44-1 LOT 003
Tax Annual Amount
2334
Legal Description
DIST:16 CITY/MUNI/TWP:ROCKFORD SEC/TWN/RNG/MER:SEC 27 TWN 44 RNG 01 SULLIVAN + DWYERS SUBD PT SW1/4 SEC 27-44-1 LOT 003
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Cheyenne Golightly
(815) 668-1863
Added: Aug 25
Last Checked: Aug 26 at 9:06AM
MLS# 202605359
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1541 West Street in Rockford, Illinois, this duplex contains 2,090 square feet of total living space arranged across two independent rental units. The property includes six bedrooms and two full bathrooms, providing a substantial residential configuration within a two-family building.
The improvements sit on a 0.16-acre lot and were built in 1900. Property systems include central air conditioning and natural-gas heating. Included appliances are a washer, dryer, refrigerator, and stove/cooktop, providing established equipment within the residential units.
The improvements sit on a 0.16-acre lot and were built in 1900. Property systems include central air conditioning and natural-gas heating. Included appliances are a washer, dryer, refrigerator, and stove/cooktop, providing established equipment within the residential units.
Key Highlights
- 2,090 square feet of total living space
- Two independent rental units with 6 bedrooms and 2 full bathrooms
- Situated on a 0.16‑acre lot
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
$13,680
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
7.82%
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%
$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
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
$20.3K $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 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%
$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.
Property Analytics
Property Profile
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
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 - The property includes central air, natural-gas heating, and appliances including washers, dryers, refrigerators, and cooktops.
Where is this duplex located?
The property is located at 1541 West Street 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 with 6 bedrooms and 2 full bathrooms; Situated on a 0.16‑acre lot
