Listing Agency: Keller Williams Realty Signature k***@kw.com

Listed By: Amela Ahmetovic · License #475193492 Show Phone

Source: Exprealty

Added: Jun 4 Changed: Oct 6 Last Checked: Oct 15 at 12:43AM

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Investment Insights

Based on property information with market context.

This 3,750-square-foot triplex contains three residential units: two offer three bedrooms and 1.5 baths, while the third includes two bedrooms and one bath. Interior updates include new flooring in two units, newer windows throughout, and a newer roof. Two units also have new water heaters.

The property includes a fully fenced shared backyard that provides common outdoor space for residents. Located at 2910 Chatham Ln in Rockford, IL, the building combines varied unit layouts with several recent property improvements.

Key Highlights

• 3,750‑square‑foot triplex with three residential units
• Two units feature 3 bedrooms and 1.5 baths; one unit has 2 bedrooms and 1 bath
• New flooring installed in two units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,384

Cap Rate

9.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$427,680 $427.7K

Cap Rate 7%

$305,486 $305.5K

Cap Rate 9%

$237,600 $237.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,750 SF

Gross rent

$40.5K $10.80/SF

− Vacancy

−$1.6K −$0.43/SF

EGI

$38.9K $10.37/SF

− OpEx

−$17.5K −$4.67/SF

NOI

$21.4K $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 Rate 5%

$427,680

Cap Rate 7%

$305,486

Cap Rate 9%

$237,600

Alternative Uses

Best Use

Multifamily LT 5

$350.6K

$306.8K – $409.1K (±1% cap)

NOI $24,545 @ 7.0% cap · market cap 10.36%

Second Best

Apartment 5plus

$305.5K

$267.3K – $356.4K (±1% cap)

NOI $21,384 @ 7.0% cap · market cap 9.02%

Theoretical Best

Office A

$997.5K

$872.8K – $1.16M (±1% cap)

NOI $69,822 @ 7.0% cap · market cap 29.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Electrical Service Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

220

Businesses Nearby

Explore this area Business Placement

Demographics for 61101, IL

19,784

Population

9,005

Households

2.2

Avg Household Size

37

Median Age

15%

College-Educated

80%

High-School Grad

41.5 sq mi

ZIP Area

477

Density / Sq Mi

$45,260

Median Household Income

$30,061

Median Earnings

$975

Median Rent

$89,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - A three-unit residential configuration includes both two- and three-bedroom floor plans.

Where is this triplex located?

The property is located at 2910 Chatham Ln Rockford, IL.

What is the asking price?

The asking price for this property is $237,000.

What are key features of this property?

This property features: 3,750‑square‑foot triplex with three residential units; Two units feature 3 bedrooms and 1.5 baths; one unit has 2 bedrooms and 1 bath; New flooring installed in two units