Two-Unit Duplex with Finished
For Sale
$230,000
528 King Street, Belvidere, IL 61008
Two residential units provide distinct layouts, separate utility metering, and additional finished lower-level space.
Property Size2,652 SF
Price / SF$86.73
Days on Market158
Property Features for 528 King Street
General Information
Standard status
Active
Size
2,652 SF
Property subtype
Two to Four Units / 2 Units
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,479
Amenities
deck
Window Unit
Electric
Yes
Finished, Full
Refrigerator, Stove/Cooktop
No
Shingle
Vinyl
Deck
Building Details
Year Built
1960
Units
2
Listing Agency:
Berkshire Hathaway HomeServices Starck RE
Listed By:
Dixie Kalk · License #475135902
(815) 703-5968
Source:
Compass
Added: May 1
Changed: Oct 4
Last Checked: Oct 4 at 12:01PM
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 Berkshire Hathaway HomeServices Starck RE
Investment Insights
Based on property information with market context.
This duplex contains two residential units with separate electric utility meters. The main-floor residence offers 1700 sqft with one bedroom, a living room, formal dining room, and large eat-in kitchen. Its finished basement includes two additional rooms, a family room, and a full bathroom, providing flexible space for office, recreation, or storage use. The upper residence contains 884 sqft, two bedrooms, an eat-in kitchen, and a deck overlooking the backyard.
The property is located at 528 King St in Belvidere, IL. All-electric systems serve both units, and tenants cover electric and garbage services. The separate metering and differing unit layouts provide clear physical separation between the residences.
The property is located at 528 King St in Belvidere, IL. All-electric systems serve both units, and tenants cover electric and garbage services. The separate metering and differing unit layouts provide clear physical separation between the residences.
Key Highlights
- Two‑unit duplex at 528 King St, Belvidere, IL
- Main‑floor unit includes 1700 sqft and 1 bedroom
- Upper unit offers 884 sqft and 2 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,359
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,180
$347.2K
Cap Rate 7%
$247,986
$248.0K
Cap Rate 9%
$192,878
$192.9K
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$25.8K $9.72/SF
− Vacancy
−$980 −$0.37/SF
EGI
$24.8K $9.35/SF
− OpEx
−$7.4K −$2.81/SF
NOI
$17.4K $6.55/SF
Area
Boone County, 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%
$347,180
Cap Rate 7%
$247,986
Cap Rate 9%
$192,878
Alternative Uses
Best Use
Multifamily LT 5
$248.0K
$217.0K – $289.3K
NOI $17,359 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$216.0K
$189.0K – $252.1K
NOI $15,123 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$705.4K
$617.2K – $823.0K
NOI $49,378 @ 7.0% cap · market cap 21.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 61008, IL
33,747
Population
13,406
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
84.3 sq mi
ZIP Area
400
Density / Sq Mi
$75,833
Median Household Income
$38,509
Median Earnings
$953
Median Rent
$185,200
Median Home Value
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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 residential units provide distinct layouts, separate utility metering, and additional finished lower-level space.
Where is this duplex located?
The property is located at 528 King Street Belvidere, IL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex at 528 King St, Belvidere, IL; Main‑floor unit includes 1700 sqft and 1 bedroom; Upper unit offers 884 sqft and 2 bedrooms
