Duplex with Basement
For Sale
$134,900
2217 LATHAM Street, Rockford, IL 61103
MULTIFAMILY, ROCKFORD, IL
Property Size1,599 SF
Price / SF$84.37
Days on Market97
Property Features for 2217 LATHAM Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Basement, Bedroom 3, Bathroom 1, Bathroom 2
Parking
4
Appliances
Refrigerator, Stove/Cooktop, Oven
Elementary school
R K Welsh Elementary
Middle school
West Middle
High school
Guilford High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1111483003
Size
1,599 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
E H MARSHS PK VW SUB OF PT NE1/SEC 14+ PT SE 1/4 SEC 11-44-2 LOT 010 BLOCK 015
Tax Annual Amount
1584
Legal Description
E H MARSHS PK VW SUB OF PT NE1/SEC 14+ PT SE 1/4 SEC 11-44-2 LOT 010 BLOCK 015
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s)
Building Details
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Sarah Vinnitsky · License #475186665
(815) 494-2480
Added: Jul 1
Changed: Oct 3
Last Checked: Oct 5 at 5:06PM
MLS# 202603970
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 1,599-square-foot duplex contains two residential units with separate layouts. The first floor includes two bedrooms, while the upper-level apartment has one bedroom and a deck. A full basement adds storage space, and off-street parking is available. Updated windows, shingle roofing, forced-air natural-gas heating, and wall-unit cooling are among the property’s physical features.
Each unit is equipped with its own furnace, and appliances including refrigerators, stove/cooktops, and ovens are included. Tenants pay their own electric and gas costs. New sewer lines are installed with a warranty. The property is situated on a brick street in Rockford’s Northwest Neighborhood.
Each unit is equipped with its own furnace, and appliances including refrigerators, stove/cooktops, and ovens are included. Tenants pay their own electric and gas costs. New sewer lines are installed with a warranty. The property is situated on a brick street in Rockford’s Northwest Neighborhood.
Key Highlights
- 1,599‑square‑foot duplex with two residential units
- First‑floor unit has 2 bedrooms; second‑floor unit has 1 bedroom and a deck
- Full basement provides additional storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,466
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,320
$209.3K
Cap Rate 7%
$149,514
$149.5K
Cap Rate 9%
$116,289
$116.3K
Market Conditions
NOI Build-Up for 1,599 SF
Gross rent
$15.5K $9.72/SF
− Vacancy
−$591 −$0.37/SF
EGI
$15.0K $9.35/SF
− OpEx
−$4.5K −$2.81/SF
NOI
$10.5K $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%
$209,320
Cap Rate 7%
$149,514
Cap Rate 9%
$116,289
Alternative Uses
Best Use
Multifamily LT 5
$149.5K
$130.8K – $174.4K
NOI $10,466 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$130.3K
$114.0K – $152.0K
NOI $9,118 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$425.3K
$372.2K – $496.2K
NOI $29,772 @ 7.0% cap · market cap 22.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
334
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature distinct bedroom layouts, included appliances, and individual furnaces.
Where is this duplex located?
The property is located at 2217 LATHAM Street Rockford, IL.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: 1,599‑square‑foot duplex with two residential units; First‑floor unit has 2 bedrooms; second‑floor unit has 1 bedroom and a deck; Full basement provides additional storage space
