Mixed-Use Building with Additional
For Sale
$99,000
Pending
914-916 North Winnebago Street, Rockford, IL 61103
Commercial and residential spaces are arranged across the lower and upper levels.
Property Size1,400 SF
Days on Market195
Property Features for 914-916 North Winnebago Street
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Multi Family / 2 Units
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,685
Amenities
Hot Water/Steam, Natural Gas
Yes
Natural Gas
Full
Stove/Cooktop
No
Shingle
Brick/Stone
Building Details
Year Built
1908
Buildings
1
Units
2
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Nastasia Brown · License #475181736
(815) 315-1111
Source:
Compass
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 30 at 11:13PM
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 Keller Williams Realty Signature
Investment Insights
Based on property information with market context.
Located at 914-916 North Winnebago Street in Rockford, Illinois, this 1,400-square-foot mixed-use building places commercial space on the ground level and residential space above. Constructed in 1908, the property includes a full basement and separate split-system heating and cooling serving the lower and upper areas.
Recent improvements include a new roof, fascia, soffits, exterior brick tuck pointing, and updated water piping in the basement. Interior work includes new flooring in the bedrooms, bathroom, kitchen, and walkway, along with bathroom fixtures and tile, ceiling fans, and fresh paint in the upper-level residence. A neighboring lot owned by the seller is included in the sale and carries PIN 1114356026.
Recent improvements include a new roof, fascia, soffits, exterior brick tuck pointing, and updated water piping in the basement. Interior work includes new flooring in the bedrooms, bathroom, kitchen, and walkway, along with bathroom fixtures and tile, ceiling fans, and fresh paint in the upper-level residence. A neighboring lot owned by the seller is included in the sale and carries PIN 1114356026.
Key Highlights
- 1,400‑square‑foot mixed‑use building with commercial space below and residential space above
- Additional adjoining lot included with the sale; PIN 1114356026
- New roof, fascia, and soffits
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
$7,983
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
8.06%
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%
$159,660
$159.7K
Cap Rate 7%
$114,043
$114.0K
Cap Rate 9%
$88,700
$88.7K
Market Conditions
NOI Build-Up for 1,400 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
$15.1K $10.80/SF
− Vacancy
−$605 −$0.43/SF
EGI
$14.5K $10.37/SF
− OpEx
−$6.5K −$4.67/SF
NOI
$8.0K $5.70/SF
Area
Rockford, IL
Vacancy
4.00%
Lease Rate
$10.80 /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%
$159,660
Cap Rate 7%
$114,043
Cap Rate 9%
$88,700
Alternative Uses
Best Use
Mixed Use
$248.4K
$217.4K – $289.8K
NOI $17,388 @ 7.0% cap · market cap 17.56%
Second Best
Multifamily LT 5
$130.9K
$114.6K – $152.7K
NOI $9,164 @ 7.0% cap · market cap 9.26%
Theoretical Best
Office A
$372.4K
$325.8K – $434.5K
NOI $26,067 @ 7.0% cap · market cap 26.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
552
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential spaces are arranged across the lower and upper levels.
Where is this mixed-use property located?
The property is located at 914-916 North Winnebago Street Rockford, IL.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: 1,400‑square‑foot mixed‑use building with commercial space below and residential space above; Additional adjoining lot included with the sale; PIN 1114356026; New roof, fascia, and soffits
