Two-Building Apartment
For Sale
$1,155,000
208 Flintridge Dr, Rockford, IL 61107
The offering includes two-bedroom, one-bath apartments with recent hot water system replacements and ongoing occupancy.
Property Size10,940 SF
Price / SF$105.58
Days on Market14
Property Features for 208 Flintridge Dr
General Information
Standard status
Active
Size
10,940 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$17,000
Listing Agency:
Realty One Group Strategies
(630) 370-7422
Listed By:
Philip Williams
(630) 370-7422
Source:
Exprealty
Added: Jul 24
Changed: Aug 5
Last Checked: Aug 5 at 4:37AM
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 Realty One Group Strategies
Investment Insights
Based on property information with market context.
This apartment offering comprises two 11-unit buildings totaling 22 apartments and 10,940 square feet. Each unit has a two-bedroom, one-bath layout. The buildings are being sold together with the property at 196 Flintridge Dr, while this property is identified at 208 Flintridge Dr, Rockford, IL.
Occupancy stands at 21 of 22 units. One apartment is being kept vacant to facilitate showings and is available for leasing. Building improvements include four hot water heaters, with two approximately 7 years old and two recently replaced. One roof was replaced within the last 10 years, providing a documented capital improvement within the portfolio.
Occupancy stands at 21 of 22 units. One apartment is being kept vacant to facilitate showings and is available for leasing. Building improvements include four hot water heaters, with two approximately 7 years old and two recently replaced. One roof was replaced within the last 10 years, providing a documented capital improvement within the portfolio.
Key Highlights
- Two 11‑unit apartment buildings sold together
- 22 total units, each configured as 2 bedrooms and 1 bathroom
- 21 of 22 units currently occupied
Financial Insights For Apartment 5plus
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 | $118.2k | $10.80 |
| − Vacancy | −$4.7k | −$0.43 |
| EGI | $113.4k | $10.37 |
| − OpEx | −$51.0k | −$4.67 |
| NOI | $62.4k | $5.70 |
10,940 SF · lease $10.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$891.2K
$779.8K – $1.04M
NOI $62,384 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,694 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The offering includes two-bedroom, one-bath apartments with recent hot water system replacements and ongoing occupancy.
Where is this apartment building located?
The property is located at 208 Flintridge Dr Rockford, IL.
What is the asking price?
The asking price for this property is $1,155,000.
What are key features of this property?
This property features: Two 11‑unit apartment buildings sold together; 22 total units, each configured as 2 bedrooms and 1 bathroom; 21 of 22 units currently occupied
