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$425,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • Updated 2 days ago
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Excellent investment opportunity in Rockford! This fully occupied 8-unit multifamily property features eight 1-bedroom, 1-bathroom apartments, offering immediate rental income and potential for future growth. The property generates $60,900 in annual GOI with a reported NOI of $41,745, representing a 9.82 cap rate at the asking price of $425,000. Featuring an attractive brick exterior and a convenient location 3 minutes from downtown Rockford, this property presents a great opportunity for investors looking to expand their portfolio with an established income-producing asset.

Full Property Details for 616 Market St

General

  • Price: $425,000
  • Taxes: $6,314 (2025)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12789523

Rental Information

  • Lease/Rent Term: Month To Month

Interior

  • Basement: Unfinished

Location

  • Area: Rockford
  • County: Winnebago
  • Driving Directions: From downtown Rockford, travel east toward Market St. and continue to 616-618 Market St. Property is located along Market St.

Heating & Cooling

  • Cooling Type: Window Unit(s)
  • Heating Type: Hot Water, Radiators

Utilities

  • Trash: 1680

Structural Information

  • Basement: Yes
  • Basement Desc.: Unfinished
  • Stories/Levels: 2
  • Year Built: 1900
  • Built Before 1978: Yes

Unit Information

  • # Dryers: 1

Lot Features

  • Lot Size (Sq. Ft.): 4,356
  • Lot Dimensions: 4356
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Insurance Fee: $4,000
  • Operating Expenses: $19,155
  • Assessment Year: 1900
  • Tax Amount: $6,314.06
  • Tax Year: 2025
  • Tenant Pays: Electricity, Other
  • Pays Electric: 960
  • Pays Trash: 1680

Disclosures and Reports

  • Property ID: 1123458013

Listed by The Agency X

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Listing agents

— 616 Market St —

  • The Agency X

  • The Agency X

(708) 200-2001

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 616 Market St

School District:Rockford School District 205
NameGradesDistance
Clifford P Carlson Elementary School
4015 Pepper Drive, Rockford, IL 61114
K-53.7 mi
Eisenhower Middle School
3525 Spring Creek Road, Rockford, IL 61107
6-82.8 mi
Guilford High School
5620 Spring Creek Rd, Rockford, IL 61114
9-124.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Tax History for 616 Market St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$6,314
14%
$71,515
23%
2024
$5,529
14%
$58,344
25%
2023
$4,856
100%
$46,768
12%
2022
-100%
$41,802
20%
2021
$4,279
—
$34,912
6%
2021
$4,279
2%
$33,004
5%
2019
$4,214
—
$31,456
11%
2017
$4,209
—
$28,370
2%
2016
$4,205
-1%
$27,839
—
2015
$4,258
2%
$27,839
—
2014
$4,171
-1%
$27,840
-6%
2018
$4,230
2%
$29,644
—
2013
$4,141
2%
$29,577
-6%
2012
$4,047
—
$31,368
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by The Agency X

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616 Market Street, Rockford, IL 61107 (MLS# 12789523) is a Commercial property. 616 Market Street is currently listed for $425,000 and was received on October 20, 2026. Want to learn more about 616 Market Street? Do you have questions about finding other Commercial real estate for sale in Rockford? You can browse all Rockford real estate or contact a Coldwell Banker agent to request more information.

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