Turnkey Two-Unit Residential
For Sale
$240,000
Pending
2104 South 4th Street, Rockford, IL 61104
Fully renovated two-unit property with separate 3-bedroom and 2-bedroom layouts plus a detached 24' x 24' metal garage.
Property Size2,024 SF
Days on Market24
Property Features for 2104 South 4th Street
General Information
Standard status
Pending
Size
2,024 SF
Property subtype
Multi Family / 2 Units
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Coldwell Banker Real Estate Group
(815) 621-9180
Listed By:
Karla Meza-Angelito · License #475208152
Source:
Compass
Added: Jul 7
Changed: Jul 22
Last Checked: Jul 29 at 2:22PM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
This turnkey, fully renovated two-unit residential income property is move-in and rent-ready. Renovations include new windows, new gutters, 100% new electrical, new plumbing, new water heaters, remodeled kitchens and bathrooms, new drywall, new flooring and carpet, fresh paint throughout, and new kitchen appliances.
The upper level features a 3-bedroom, 1-bath layout, and the lower level offers a 2-bedroom, 1-bath configuration. City-permitted improvements support the quality of the work.
A brand-new detached 24' x 24' metal garage adds on-site parking and additional storage for residents.
The upper level features a 3-bedroom, 1-bath layout, and the lower level offers a 2-bedroom, 1-bath configuration. City-permitted improvements support the quality of the work.
A brand-new detached 24' x 24' metal garage adds on-site parking and additional storage for residents.
Key Highlights
- Fully renovated 2‑unit property with separate upper 3‑bedroom, 1‑bath and lower 2‑bedroom, 1‑bath layouts
- Recent updates include new windows, new gutters, 100% new electrical, new plumbing, and new water heaters
- Remodeled kitchens and bathrooms, plus new drywall, new flooring/carpet, and fresh paint throughout
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 | $19.7k | $9.72 |
| − Vacancy | −$748 | −$0.37 |
| EGI | $18.9k | $9.35 |
| − OpEx | −$5.7k | −$2.81 |
| NOI | $13.2k | $6.55 |
2,024 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$189.3K
$165.6K – $220.8K
NOI $13,248 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,542 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$538.4K
$471.1K – $628.1K
NOI $37,685 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,300
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated two-unit property with separate 3-bedroom and 2-bedroom layouts plus a detached 24' x 24' metal garage.
Where is this duplex located?
The property is located at 2104 South 4th Street Rockford, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Fully renovated 2‑unit property with separate upper 3‑bedroom, 1‑bath and lower 2‑bedroom, 1‑bath layouts; Recent updates include new windows, new gutters, 100% new electrical, new plumbing, and new water heaters; Remodeled kitchens and bathrooms, plus new drywall, new flooring/carpet, and fresh paint throughout
