Two-Unit Corner
For Sale
$99,900
Pending
927-929 Halsted Road, Rockford, IL 61103
Duplex features two 1-bedroom, 1-bath units with a full shared basement on a corner lot.
Property Size960 SF
Days on Market41
Property Features for 927-929 Halsted Road
General Information
Standard status
Pending
Size
960 SF
Property subtype
Two to Four Units / 2 Flat
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,804
Amenities
Natural Gas
Yes
Gas
Full
Dryer, Microwave, Stove/Cooktop, Oven, Washer
No
Shingle
Siding
Additional Parking, Deck, Laundry in Building, Main Floor Primary, On Bus Route
Building Details
Year Built
1970
Units
2
Listing Agency:
DICKERSON & NIEMAN
(815) 227-5900
Listed By:
Rebecca Thalhofer · License #475137592
(815) 227-5900
Source:
Compass
Added: Jul 12
Changed: Aug 8
Last Checked: Jul 30 at 12:48PM
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 DICKERSON & NIEMAN
Investment Insights
Based on property information with market context.
This duplex offers two separate 1-bedroom, 1-bath units. Both units are set on a corner lot and share a full basement, providing additional common space within the property.
The property is described as being in a convenient location near North Second.
At this time, available information does not describe additional exterior improvements, parking details, or unit-level finishes, so prospective buyers should confirm all specifics during due diligence.
The property is described as being in a convenient location near North Second.
At this time, available information does not describe additional exterior improvements, parking details, or unit-level finishes, so prospective buyers should confirm all specifics during due diligence.
Key Highlights
- Duplex with two 1‑bedroom, 1‑bath units on a corner lot
- Full shared basement
- Natural gas heating; gas water heater
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
$6,284
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
6.29%
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%
$125,680
$125.7K
Cap Rate 7%
$89,771
$89.8K
Cap Rate 9%
$69,822
$69.8K
Market Conditions
NOI Build-Up for 960 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
$9.3K $9.72/SF
− Vacancy
−$355 −$0.37/SF
EGI
$9.0K $9.35/SF
− OpEx
−$2.7K −$2.81/SF
NOI
$6.3K $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 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%
$125,680
Cap Rate 7%
$89,771
Cap Rate 9%
$69,822
Alternative Uses
Best Use
Multifamily LT 5
$89.8K
$78.6K – $104.7K
NOI $6,284 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$78.2K
$68.4K – $91.2K
NOI $5,474 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$255.3K
$223.4K – $297.9K
NOI $17,874 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
352
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?
Duplex - Duplex features two 1-bedroom, 1-bath units with a full shared basement on a corner lot.
Where is this duplex located?
The property is located at 927-929 Halsted Road Rockford, IL.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Duplex with two 1‑bedroom, 1‑bath units on a corner lot; Full shared basement; Natural gas heating; gas water heater
