Brick Duplex with New
For Sale
$189,900
5009 N 2nd St, Loves Park, IL 61111
Commercially zoned duplex with parking, storage, updated windows, and a documented rental history.
Property Size1,794 SF
Price / SF$105.85
Days on Market19
Property Features for 5009 N 2nd St
General Information
Standard status
Active
Size
1,794 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,878
Amenities
storage
Building Details
Buildings
1
Construction
brick
Listing Agency:
ReThink Realty
(608) 295-7814
Listed By:
Colin Schindler · License #475193933
(608) 295-7814
Source:
Exprealty
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 30 at 12:17AM
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 ReThink Realty
Investment Insights
Based on property information with market context.
This 1,794-square-foot duplex at 5009 N 2nd St in Loves Park, Illinois, is constructed with an all-brick exterior and includes a recently installed roof. The property also features Pella windows and other recent updates, along with on-site parking and storage areas.
Commercial zoning and prior rental performance add income-property relevance for investors. The combination of two residential units, durable exterior construction, and completed improvements provides a straightforward configuration for continued rental use.
Commercial zoning and prior rental performance add income-property relevance for investors. The combination of two residential units, durable exterior construction, and completed improvements provides a straightforward configuration for continued rental use.
Key Highlights
- Commercially zoned duplex at 5009 N 2nd St, Loves Park, IL
- 1,794‑square‑foot building
- All‑brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,778
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$315,560
$315.6K
Cap Rate 7%
$225,400
$225.4K
Cap Rate 9%
$175,311
$175.3K
Market Conditions
NOI Build-Up for 1,794 SF
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.
Gross rent
$31.2K $17.40/SF
− Vacancy
−$2.5K −$1.41/SF
EGI
$28.7K $15.99/SF
− OpEx
−$12.9K −$7.20/SF
NOI
$15.8K $8.79/SF
Area
Winnebago County, IL
Vacancy
8.10%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$315,560
Cap Rate 7%
$225,400
Cap Rate 9%
$175,311
Alternative Uses
Best Use
Multifamily LT 5
$254.4K
$222.6K – $296.8K
NOI $17,806 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$225.4K
$197.2K – $263.0K
NOI $15,778 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$489.0K
$427.9K – $570.5K
NOI $34,230 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Explore this area
Business Placement
Demographics for 61111, IL
23,028
Population
10,248
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
14.2 sq mi
ZIP Area
1,622
Density / Sq Mi
$58,391
Median Household Income
$42,751
Median Earnings
$1,101
Median Rent
$143,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Commercially zoned duplex with parking, storage, updated windows, and a documented rental history.
Where is this duplex located?
The property is located at 5009 N 2nd St Loves Park, IL.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Commercially zoned duplex at 5009 N 2nd St, Loves Park, IL; 1,794‑square‑foot building; All‑brick construction
