Rockford Multifamily Property For
For Sale
$150,000
Pending
226-228 Smith Avenue, Rockford, IL 61107
MULTI_FAMILY - ROCKFORD, IL
Property Size1,264 SF
Days on Market259
Property Features for 226-228 Smith Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 2
Parking
1
Appliances
Refrigerator, Stove/Cooktop
Elementary school
District 205-RFD
Middle school
District 205-RFD
High school
District 205-RFD
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Pending
APN
1124378022
Size
1,264 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
Johnson + Knowles Sub PT BLK 13 Spaffords and to RFD Lot 1 + N 5 ft Lot 002 Block 002
Tax Annual Amount
2517
Legal Description
Johnson + Knowles Sub PT BLK 13 Spaffords and to RFD Lot 1 + N 5 ft Lot 002 Block 002
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Key Realty, Inc
(815) 713-1100
Listed By:
Margaret Archer · License #471003361
(815) 988-8821
Added: Nov 13, 2025
Changed: Jun 8
Last Checked: Jul 30 at 5:06PM
MLS# 202507091
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 multifamily property in Rockford, Illinois, features two large units, each spanning 1264 square feet. Both units include three bedrooms and one bathroom located on the upper level. The unit on the left side of the property is currently vacant and requires repairs. The unit on the right side is in good condition and is currently rented.
Key Highlights
- Two large units, 1,264 SF each, with 3 bedrooms and 1 bath per unit
- Left unit is vacant and needs repair
- Right unit is currently rented and described as in good shape
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 | $12.3k | $9.72 |
| − Vacancy | −$467 | −$0.37 |
| EGI | $11.8k | $9.35 |
| − OpEx | −$3.5k | −$2.81 |
| NOI | $8.3k | $6.55 |
1,264 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$118.2K
$103.4K – $137.9K
NOI $8,273 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$103.0K
$90.1K – $120.1K
NOI $7,208 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$336.2K
$294.2K – $392.3K
NOI $23,535 @ 7.0% cap · market cap 15.69%
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
804
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily property in Rockford, Illinois, with investment potential.
Where is this duplex located?
The property is located at 226-228 Smith 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 large units, 1,264 SF each, with 3 bedrooms and 1 bath per unit; Left unit is vacant and needs repair; Right unit is currently rented and described as in good shape
