Well-Maintained Duplex For
2523-2525 Holmes Street Rockford, IL 61108
2523-2525 Holmes Street, Rockford, IL, 61108
$220,000
For Sale
$220,000
Owner-occupied duplex offers two well-cared-for units, with major 2023 roof and gutter replacements.
Property Size2,501 SF
Price / SF$87.96
Days on Market95
Property Features for 2523-2525 Holmes Street
General Information
- Standard status
- Active
- Size
- 2,501 SF
- Property subtype
- Multi Family / 2 Units
Building Details
- Year Built
- 1965
Listing agency
Keller Williams Realty Signature
Listed by
Cory Andrews · License #475217049
Source
Compass
Added: Apr 19 Updated: Jul 21 at 10:26PM Checked: Jul 21 at 10:26PM
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 Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
This well-maintained duplex has been owner-occupied for over 20 years and is presented in exceptionally clean, move-in-ready condition. Both units have been carefully cared for, with major components reported to be in good working condition.
Recent improvements include a roof replacement in 2023 and gutters replaced in the same year. The 2525 unit includes a newer furnace and A/C unit, while the 2523 side has been consistently maintained with systems in proper working order.
The property is configured as a two-unit residential income asset with comfortable, functional living spaces in each unit.
Recent improvements include a roof replacement in 2023 and gutters replaced in the same year. The 2525 unit includes a newer furnace and A/C unit, while the 2523 side has been consistently maintained with systems in proper working order.
The property is configured as a two-unit residential income asset with comfortable, functional living spaces in each unit.
Key Highlights
- Duplex built in 1965 with two units and a full basement
- Roof replacement in 2023 plus gutters replaced in 2023
- Central air and natural gas heating; gas water heater
Local 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 | $24.3k | $9.72 |
| − Vacancy | −$924 | −$0.37 |
| EGI | $23.4k | $9.35 |
| − OpEx | −$7.0k | −$2.81 |
| NOI | $16.4k | $6.55 |
2,501 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$233.9K
$204.6K – $272.8K
NOI $16,370 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$203.7K
$178.3K – $237.7K
NOI $14,262 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$665.2K
$582.1K – $776.1K
NOI $46,567 @ 7.0% cap · market cap 21.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Owner-occupied duplex offers two well-cared-for units, with major 2023 roof and gutter replacements.
Where is this duplex located?
The property is located at 2523-2525 Holmes Street Rockford, IL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Duplex built in 1965 with two units and a full basement; Roof replacement in 2023 plus gutters replaced in 2023; Central air and natural gas heating; gas water heater
