2-Unit Brick
For Sale
$200,000
415 Sherman St, Rockford, IL 61103
Each residence includes two bedrooms, one bathroom, basement storage, and access to a parking pad behind the building.
Property Size2,080 SF
Price / SF$96.15
Days on Market16
Property Features for 415 Sherman St
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Churchill Grove Neighborhood Association
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$900
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,709
Building Details
Buildings
1
Construction
colonial style
Tenancy
Multi
Listing Agency:
Gambino Realtors
Listed By:
Samantha Hart
(815) 231-6618
Source:
Exprealty
Added: Oct 14
Changed: Oct 26
Last Checked: Oct 28 at 9:07AM
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 Gambino Realtors
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Investment Insights
Based on property information with market context.
This 2,080-square-foot, side-by-side brick duplex has a colonial-style design. Each unit contains two bedrooms and one bathroom, with a living room, dining room, and kitchen on the first floor. Both units also have basement storage and walk-in closets. The property has month-to-month tenants. A rear parking pad serves the building; there is no garage.
The property is at 415 Sherman St in Rockford, within walking distance of the Rock River. Downtown, banks, shopping, and restaurants are a short drive away, and a playground is directly across the street.
The washer and dryer and three window air-conditioning units in Unit 1 are included. The water heater and refrigerator are five years old, and Unit 1’s furnace is 10 years old.
The property is at 415 Sherman St in Rockford, within walking distance of the Rock River. Downtown, banks, shopping, and restaurants are a short drive away, and a playground is directly across the street.
The washer and dryer and three window air-conditioning units in Unit 1 are included. The water heater and refrigerator are five years old, and Unit 1’s furnace is 10 years old.
Key Highlights
- 2,080‑square‑foot side‑by‑side brick duplex
- Two bedrooms and one bathroom in each unit
- Separate basement storage and walk‑in closets in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,615
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,300
$272.3K
Cap Rate 7%
$194,500
$194.5K
Cap Rate 9%
$151,278
$151.3K
Market Conditions
NOI Build-Up for 2,080 SF
Gross rent
$20.2K $9.72/SF
− Vacancy
−$768 −$0.37/SF
EGI
$19.4K $9.35/SF
− OpEx
−$5.8K −$2.81/SF
NOI
$13.6K $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%
$272,300
Cap Rate 7%
$194,500
Cap Rate 9%
$151,278
Alternative Uses
Best Use
Multifamily LT 5
$194.5K
$170.2K – $226.9K
NOI $13,615 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$169.4K
$148.3K – $197.7K
NOI $11,861 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$553.3K
$484.1K – $645.5K
NOI $38,728 @ 7.0% cap · market cap 19.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, one bathroom, basement storage, and access to a parking pad behind the building.
Where is this duplex located?
The property is located at 415 Sherman St Rockford, IL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,080‑square‑foot side‑by‑side brick duplex; Two bedrooms and one bathroom in each unit; Separate basement storage and walk‑in closets in both units
