Brick
For Sale
$140,000
1617 Montague Street, Rockford, IL 61102
The two residences offer distinct bedroom and bathroom configurations, with garage access from the lower unit.
Property Size2,112 SF
Price / SF$66.29
Days on Market39
Property Features for 1617 Montague Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Swiftt
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,455
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Century 21 Affiliated
Listed By:
Carlos Serna · License #475161572
(815) 262-3919
Source:
Exprealty
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 25 at 2:40AM
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 Century 21 Affiliated
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Investment Insights
Based on property information with market context.
This 2,112-square-foot brick duplex contains two occupied residences. The lower apartment has two bedrooms, two bathrooms, a partially finished basement, and access to the garage. Above it, a one-bedroom, one-bathroom unit provides a separate living arrangement.
Located at 1617 Montague Street in Rockford, Illinois, the property is configured as a two-family building. Both units are currently rented.
Located at 1617 Montague Street in Rockford, Illinois, the property is configured as a two-family building. Both units are currently rented.
Key Highlights
- 2,112‑square‑foot brick duplex
- Lower unit has 2 bedrooms, 2 bathrooms, and a partially finished basement
- Upper unit includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,043
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,860
$240.9K
Cap Rate 7%
$172,043
$172.0K
Cap Rate 9%
$133,811
$133.8K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$22.8K $10.80/SF
− Vacancy
−$912 −$0.43/SF
EGI
$21.9K $10.37/SF
− OpEx
−$9.9K −$4.67/SF
NOI
$12.0K $5.70/SF
Area
Rockford, IL
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,860
Cap Rate 7%
$172,043
Cap Rate 9%
$133,811
Alternative Uses
Best Use
Multifamily LT 5
$197.5K
$172.8K – $230.4K
NOI $13,824 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$172.0K
$150.5K – $200.7K
NOI $12,043 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$561.8K
$491.6K – $655.4K
NOI $39,324 @ 7.0% cap · market cap 28.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
130
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The two residences offer distinct bedroom and bathroom configurations, with garage access from the lower unit.
Where is this duplex located?
The property is located at 1617 Montague Street Rockford, IL.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 2,112‑square‑foot brick duplex; Lower unit has 2 bedrooms, 2 bathrooms, and a partially finished basement; Upper unit includes 1 bedroom and 1 bathroom
