Duplex with Finished Lower
New
For Sale
$349,900
3746-48 THYME Drive, Rockford, IL 61114
MULTIFAMILY, ROCKFORD, IL
Property Size3,750 SF
Price / SF$93.31
Days on Market1
Property Features for 3746-48 THYME Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 5, Bedroom 5, Bathroom 3, Bathroom 6, Bathroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Parking
3
Appliances
Dishwasher, Dryer, Refrigerator, Stove/Cooktop, Washer, Water Softener
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
Active
APN
1205451020
Size
3,750 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FOXMOOR RIDE SUBD PLAT 2
Tax Annual Amount
7439
Legal Description
FOXMOOR RIDE SUBD PLAT 2
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
finished lower levels
master baths
dedicated laundry rooms
individually fenced backyards
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
John Dowd · License #475126473
(815) 381-6804
Added: Oct 14
Last Checked: Oct 14 at 11:06PM
MLS# 202606525
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 3,750-square-foot duplex contains two bi-level residences. One unit has three bedrooms, three baths and an attached two-car garage; the other has two bedrooms, three baths and an attached one-car garage. Both include finished lower levels with family rooms, dedicated laundry rooms, master baths and individually fenced backyards. The property was built in 1980 and is being sold as is.
Heating is natural gas and forced air, with central air conditioning. Appliances include a dishwasher, dryer, refrigerator, stove/cooktop, washer and water softener.
Heating is natural gas and forced air, with central air conditioning. Appliances include a dishwasher, dryer, refrigerator, stove/cooktop, washer and water softener.
Key Highlights
- Two‑unit duplex with 3,750 square feet
- Three‑bedroom unit with three baths and an attached two‑car garage
- Two‑bedroom unit with three baths and an attached one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,545
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,900
$490.9K
Cap Rate 7%
$350,643
$350.6K
Cap Rate 9%
$272,722
$272.7K
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$36.5K $9.72/SF
− Vacancy
−$1.4K −$0.37/SF
EGI
$35.1K $9.35/SF
− OpEx
−$10.5K −$2.81/SF
NOI
$24.5K $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%
$490,900
Cap Rate 7%
$350,643
Cap Rate 9%
$272,722
Alternative Uses
Best Use
Multifamily LT 5
$350.6K
$306.8K – $409.1K
NOI $24,545 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$997.5K
$872.8K – $1.16M
NOI $69,822 @ 7.0% cap · market cap 19.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 61114, IL
15,569
Population
6,599
Households
2.4
Avg Household Size
49
Median Age
47%
College-Educated
95%
High-School Grad
8.1 sq mi
ZIP Area
1,922
Density / Sq Mi
$83,472
Median Household Income
$47,406
Median Earnings
$1,284
Median Rent
$196,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 residences offer separate garages, fenced yards and laundry rooms.
Where is this duplex located?
The property is located at 3746-48 THYME Drive Rockford, IL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex with 3,750 square feet; Three‑bedroom unit with three baths and an attached two‑car garage; Two‑bedroom unit with three baths and an attached one‑car garage
