Duplex with Detached
New
For Sale
$185,000
1672 Ethel Ave, Rockford, IL 61107
Each apartment includes two bedrooms, a dining room, and a separate living area.
Property Size2,064 SF
Price / SF$89.63
Days on Market7
Property Features for 1672 Ethel Ave
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
2
Property subtype
Residential Income
Site & Location
Neighborhood
Brown Hills - Knightville
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,363
Building Details
Year Renovated
2021
Listing Agency:
Gambino Realtors
Listed By:
Korky Williams
(815) 494-7812
Source:
Exprealty
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 28 at 12:07PM
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 Gambino Realtors
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, each with 2 bedrooms and a dining room, within 2,064 square feet. Hardwood flooring is present in some areas, and the lower apartment has laundry on the main floor. A detached garage accommodates two cars, and the property sits on a corner lot with a front porch.
The roof, siding, and gutters were updated in 2021; basement waterproofing was also completed that year. The furnace and central air date to 2015, and some windows have been replaced. The property is near Sinnissippi Park and Nicholas Conservatory in Rockford.
The roof, siding, and gutters were updated in 2021; basement waterproofing was also completed that year. The furnace and central air date to 2015, and some windows have been replaced. The property is near Sinnissippi Park and Nicholas Conservatory in Rockford.
Key Highlights
- Two apartments, each with 2 bedrooms
- 2,064 square feet on a corner lot
- Detached 2‑car garage and front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,510
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,200
$270.2K
Cap Rate 7%
$193,000
$193.0K
Cap Rate 9%
$150,111
$150.1K
Market Conditions
NOI Build-Up for 2,064 SF
Gross rent
$20.1K $9.72/SF
− Vacancy
−$762 −$0.37/SF
EGI
$19.3K $9.35/SF
− OpEx
−$5.8K −$2.81/SF
NOI
$13.5K $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%
$270,200
Cap Rate 7%
$193,000
Cap Rate 9%
$150,111
Alternative Uses
Best Use
Multifamily LT 5
$193.0K
$168.9K – $225.2K
NOI $13,510 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$168.1K
$147.1K – $196.2K
NOI $11,770 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$549.0K
$480.4K – $640.5K
NOI $38,430 @ 7.0% cap · market cap 20.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
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Business Placement
Demographics for 61107, IL
30,722
Population
13,711
Households
2.2
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
2,062
Density / Sq Mi
$75,492
Median Household Income
$42,494
Median Earnings
$1,053
Median Rent
$165,200
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 - Each apartment includes two bedrooms, a dining room, and a separate living area.
Where is this duplex located?
The property is located at 1672 Ethel Ave Rockford, IL.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms; 2,064 square feet on a corner lot; Detached 2‑car garage and front porch
