Building Details

Year Built 1900

Units 4

Listing Agency: Smart Home Realty

Listed By: Dimas Trujillo · License #475182208 Show Phone

Source: Compass

Added: Mar 16 Changed: Oct 10 Last Checked: Oct 16 at 11:35AM

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Investment Insights

Based on property information with market context.

This quadplex contains four separate residential units with dedicated parking spaces. The unit mix includes one two-bedroom, one-bath residence with a living room, while the remaining three apartments each offer one bedroom and one bathroom. Interior features include forced-air heating, natural gas, gas service, and refrigerators and stove/cooktops. One unit is vacant.

The property is located at 954 North Church Street in Rockford, near downtown and within convenient reach of shopping, dining, and local amenities. Built in 1900, the building has vinyl siding and a shingle roof.

Key Highlights

• Four individual residential units with dedicated parking spaces
• Unit mix includes one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units
• One unit is currently vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,588

Cap Rate

8.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$351,760 $351.8K

Cap Rate 7%

$251,257 $251.3K

Cap Rate 9%

$195,422 $195.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,687 SF

Gross rent

$26.1K $9.72/SF

− Vacancy

−$992 −$0.37/SF

EGI

$25.1K $9.35/SF

− OpEx

−$7.5K −$2.81/SF

NOI

$17.6K $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 Rate 5%

$351,760

Cap Rate 7%

$251,257

Cap Rate 9%

$195,422

Alternative Uses

Best Use

Multifamily LT 5

$251.3K

$219.9K – $293.1K (±1% cap)

NOI $17,588 @ 7.0% cap · market cap 8.38%

Second Best

Apartment 5plus

$218.9K

$191.5K – $255.4K (±1% cap)

NOI $15,322 @ 7.0% cap · market cap 7.30%

Theoretical Best

Office A

$714.7K

$625.4K – $833.8K (±1% cap)

NOI $50,030 @ 7.0% cap · market cap 23.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store HVAC Service Storage Facility Catering Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

725

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Income-producing residential property with varied unit layouts, individual parking, and one currently vacant residence.

Where is this quadplex located?

The property is located at 954 North Church Street Rockford, IL.

What is the asking price?

The asking price for this property is $209,900.

What are key features of this property?

This property features: Four individual residential units with dedicated parking spaces; Unit mix includes one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units; One unit is currently vacant