Brick Duplex with New
For Sale
$184,900
Pending
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
Days on Market64
Property Features for 5009 N 2nd St
General Information
Standard status
Pending
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) 690-7533
Listed By:
Colin Schindler · License #8960994
(608) 295-7814
Source:
Exprealty
Added: Aug 12
Changed: Oct 10
Last Checked: Oct 13 at 1:03AM
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 / Yr
$15,778
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
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
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 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 9.63%
Second Best
Apartment 5plus
$225.4K
$197.2K – $263.0K
NOI $15,778 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$489.0K
$427.9K – $570.5K
NOI $34,230 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
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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
Check the figures for this property
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 - 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 $184,900.
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
