Brick Side-by-Side
New
For Sale
$200,000
415 Sherman Street, Rockford, IL 61103
MULTIFAMILY, ROCKFORD, IL
Property Size2,080 SF
Price / SF$96.15
Days on Market2
Property Features for 415 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Parking
2
Appliances
Dryer, Stove/Cooktop, Oven, Washer
Elementary school
R K Welsh Elementary
Middle school
West Middle
High school
Guilford High
Elementary school district
Rockford 205
Middle school district
Rockford 205
High school district
Rockford 205
Subdivision
Winnebago County
Standard status
Active
APN
1113304010
Size
2,080 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
RIVERSIDE ADDN W 15 FT OF S 50 FT LOT 7 + S 50 FT LOT 008 BLOCK 012
Tax Annual Amount
3709
Legal Description
RIVERSIDE ADDN W 15 FT OF S 50 FT LOT 7 + S 50 FT LOT 008 BLOCK 012
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Gambino Realtors
(815) 282-2222
Listed By:
Samantha Hart
(815) 231-6618
Added: Oct 14
Last Checked: Oct 15 at 12:06AM
MLS# 202606541
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 2,080-square-foot brick duplex contains two side-by-side units, each with two bedrooms and one bathroom. Both residences have a first-floor living room, dining area, and kitchen, along with basement space for storage. Unit 1 includes a washer, dryer, and three window air-conditioning units. The building was constructed in 1930 and has natural gas, forced-air heating and window-unit cooling.
A rear parking pad serves the property; there is no garage. The location is within walking distance of the Rock River, with downtown, banks, shopping, and restaurants a short drive away. A playground is across the street.
A rear parking pad serves the property; there is no garage. The location is within walking distance of the Rock River, with downtown, banks, shopping, and restaurants a short drive away. A playground is across the street.
Key Highlights
- Side‑by‑side brick duplex with 2,080 square feet
- Two units, each with 2 bedrooms and 1 bathroom
- Basement storage space 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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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
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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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 separate residences each offer two bedrooms, a full bathroom, and private basement storage.
Where is this duplex located?
The property is located at 415 Sherman Street 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: Side‑by‑side brick duplex with 2,080 square feet; Two units, each with 2 bedrooms and 1 bathroom; Basement storage space in both units
