Two-Unit Multifamily
For Sale
$165,000
Pending
1631 8th Avenue, Rockford, IL 61104
MULTI_FAMILY - ROCKFORD, IL
Property Size2,034 SF
Days on Market63
Property Features for 1631 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Basement, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 4
Parking
1
Appliances
Refrigerator, Stove/Cooktop
Elementary school
Constance Lane Elementary School
Middle school
Abraham Lincoln Middle
High school
Rockford East High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Pending
APN
1125330007
Size
2,034 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
GILBERT WOODRUFFS 4TH ADDN LOT 011 BLOCK 003
Tax Annual Amount
2144
Legal Description
GILBERT WOODRUFFS 4TH ADDN LOT 011 BLOCK 003
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Katie Giese · License #475197916
(815) 985-4478
Added: May 29
Changed: Jul 9
Last Checked: Jul 30 at 2:06PM
MLS# 202603099
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.
This for-sale two-unit multifamily property is configured as a main floor unit and an upper unit, both designed with 2 bedrooms, 1 bathroom, a living room, and a functional kitchen layout. The property is currently described as fully rented, providing income from day one. Solar panels are also included, with an associated monthly cost of $46.00 plus tax. The owner covers water, sewer, and electric, while tenants pay for gas.
The property is located at 1631 8th Avenue in Rockford, IL 61104. Showings require at least 24 hours’ notice, and 48 hours’ notice is preferred to accommodate tenants.
For investors or buyers seeking a manageable residential income asset, the unit mix is straightforward with consistent bedroom and bathroom counts across both floors. With utilities split between the owner and tenants as described, underwriting can be approached with clear operating-cost assumptions. Solar panel cost and the tenant gas responsibility are also important details for anyone evaluating current and ongoing expenses.
The property is located at 1631 8th Avenue in Rockford, IL 61104. Showings require at least 24 hours’ notice, and 48 hours’ notice is preferred to accommodate tenants.
For investors or buyers seeking a manageable residential income asset, the unit mix is straightforward with consistent bedroom and bathroom counts across both floors. With utilities split between the owner and tenants as described, underwriting can be approached with clear operating-cost assumptions. Solar panel cost and the tenant gas responsibility are also important details for anyone evaluating current and ongoing expenses.
Key Highlights
- Fully rented 2‑unit multifamily with steady income from day one, per listing remarks
- Each unit features 2 bedrooms, 1 bathroom, a living room, and a functional kitchen layout
- Main floor unit rent is $1,050; upper unit rent is $850
Financial Insights For Multifamily LT 5
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 | $19.8k | $9.72 |
| − Vacancy | −$751 | −$0.37 |
| EGI | $19.0k | $9.35 |
| − OpEx | −$5.7k | −$2.81 |
| NOI | $13.3k | $6.55 |
2,034 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.4K – $221.9K
NOI $13,313 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$165.7K
$145.0K – $193.3K
NOI $11,599 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$541.0K
$473.4K – $631.2K
NOI $37,871 @ 7.0% cap · market cap 22.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,565
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 - Two rented units with 2 bedrooms each, plus solar panels and owner-paid utilities (water, sewer, electric).
Where is this duplex located?
The property is located at 1631 8th Avenue Rockford, IL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Fully rented 2‑unit multifamily with steady income from day one, per listing remarks; Each unit features 2 bedrooms, 1 bathroom, a living room, and a functional kitchen layout; Main floor unit rent is $1,050; upper unit rent is $850
