Two-Unit Duplex with
For Sale
$150,000
219 Rome Avenue, Rockford, IL 61107
Separate residences offer flexible layouts, appliance packages, and alley-access off-street parking.
Property Size2,366 SF
Price / SF$63.40
Days on Market161
Property Features for 219 Rome Avenue
General Information
Standard status
Active
Size
2,366 SF
Property subtype
Multi Family / 2 Units
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,176
Amenities
None, Window Unit
Forced Air
Yes
Gas
Refrigerator, Stove/Cooktop
No
Shingle
Wood
Building Details
Year Built
1910
Units
2
Listing Agency:
Realty of America, LLC
Listed By:
Nara Dashravdan · License #475195030
Source:
Compass
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 9:16AM
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 of America, LLC
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains 2,366 square feet across two residential units. The configuration includes one three-bedroom, one-bath residence and one two-bedroom, one-bath residence, providing distinct layouts within the same property. Both units include living areas, and the property is being sold as-is.
An alley-access driveway leads to a 2.5-car garage and provides off-street parking. The property is situated in Rockford near hospitals, shopping, dining, and major roadways. Interior features include forced-air heating, window-unit cooling, gas service, and refrigerator and stove/cooktop appliances.
An alley-access driveway leads to a 2.5-car garage and provides off-street parking. The property is situated in Rockford near hospitals, shopping, dining, and major roadways. Interior features include forced-air heating, window-unit cooling, gas service, and refrigerator and stove/cooktop appliances.
Key Highlights
- Two‑unit duplex with 2,366 square feet
- Unit mix includes 3‑bedroom, 1‑bath and 2‑bedroom, 1‑bath residences
- 2.5‑car garage reached by an alley‑access driveway
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,492
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$269,840
$269.8K
Cap Rate 7%
$192,743
$192.7K
Cap Rate 9%
$149,911
$149.9K
Market Conditions
NOI Build-Up for 2,366 SF
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.
Gross rent
$25.6K $10.80/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$24.5K $10.37/SF
− OpEx
−$11.0K −$4.67/SF
NOI
$13.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$269,840
Cap Rate 7%
$192,743
Cap Rate 9%
$149,911
Alternative Uses
Best Use
Multifamily LT 5
$221.2K
$193.6K – $258.1K
NOI $15,487 @ 7.0% cap · market cap 10.32%
Second Best
Apartment 5plus
$192.7K
$168.7K – $224.9K
NOI $13,492 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$629.3K
$550.7K – $734.2K
NOI $44,053 @ 7.0% cap · market cap 29.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
398
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?
Duplex - Separate residences offer flexible layouts, appliance packages, and alley-access off-street parking.
Where is this duplex located?
The property is located at 219 Rome Avenue Rockford, IL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,366 square feet; Unit mix includes 3‑bedroom, 1‑bath and 2‑bedroom, 1‑bath residences; 2.5‑car garage reached by an alley‑access driveway
