All-Brick Duplex with Renovated
New
For Sale
$225,000
2212 CANARY Drive, Rockford, IL 61103
MULTIFAMILY, ROCKFORD, IL
Property Size1,617 SF
Price / SF$139.15
Days on Market2
Property Features for 2212 CANARY Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Parking
4
Appliances
Refrigerator, Stove/Cooktop
Elementary school
West View Elementary
Middle school
West Middle
High school
Auburn High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1102304009
Size
1,617 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HUFFMAN VIEW SUB NO 3 SW 1/4 SEC 2-44-1 LT 17 + E5FT LT LOT 018
Tax Annual Amount
3496
Legal Description
HUFFMAN VIEW SUB NO 3 SW 1/4 SEC 2-44-1 LT 17 + E5FT LT LOT 018
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Noah Meyer · License #475178232
(815) 978-8961
Added: Sep 3
Last Checked: Sep 4 at 6:06AM
MLS# 202605582
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 1,617-square-foot duplex in northwest Rockford was built in 1965 and has an all-brick exterior. The east unit has been renovated with luxury vinyl plank flooring, vinyl windows, granite countertops, and stainless steel appliances. The west unit is occupied by a long-term tenant on a month-to-month arrangement, while the east unit is currently vacant.
The property includes three bedrooms, two bathrooms, and a basement. Forced-air heating with natural gas and central air conditioning serve the building, with a shingle roof in place. The address is 2212 Canary Drive in Rockford, Illinois.
The property includes three bedrooms, two bathrooms, and a basement. Forced-air heating with natural gas and central air conditioning serve the building, with a shingle roof in place. The address is 2212 Canary Drive in Rockford, Illinois.
Key Highlights
- 1,617 SF duplex with an all‑brick exterior
- East unit renovated with LVP flooring, vinyl windows, granite counters, and stainless steel appliances
- West unit occupied by a long‑term month‑to‑month tenant
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
$10,584
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
4.70%
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%
$211,680
$211.7K
Cap Rate 7%
$151,200
$151.2K
Cap Rate 9%
$117,600
$117.6K
Market Conditions
NOI Build-Up for 1,617 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
$15.7K $9.72/SF
− Vacancy
−$597 −$0.37/SF
EGI
$15.1K $9.35/SF
− OpEx
−$4.5K −$2.81/SF
NOI
$10.6K $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 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%
$211,680
Cap Rate 7%
$151,200
Cap Rate 9%
$117,600
Alternative Uses
Best Use
Multifamily LT 5
$151.2K
$132.3K – $176.4K
NOI $10,584 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$131.7K
$115.3K – $153.7K
NOI $9,221 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$430.1K
$376.3K – $501.8K
NOI $30,107 @ 7.0% cap · market cap 13.38%
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
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 61103, IL
23,294
Population
11,271
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
16.3 sq mi
ZIP Area
1,429
Density / Sq Mi
$47,390
Median Household Income
$34,935
Median Earnings
$952
Median Rent
$114,800
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 - Two-unit residential property with one leased side and one vacant side featuring updated interior finishes.
Where is this duplex located?
The property is located at 2212 CANARY Drive Rockford, IL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,617 SF duplex with an all‑brick exterior; East unit renovated with LVP flooring, vinyl windows, granite counters, and stainless steel appliances; West unit occupied by a long‑term month‑to‑month tenant
