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602 7th Street Rockford, IL 61104 Multi Unit - Multiple Active

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Description

Income-producing mixed-use opportunity in Rockford's Midtown District! 602-608 7th Street features two (2) second-floor residential units that are already rented and generating a combined $1,800/month ($21,600 annually) in rental income. The main level offers two (2) commercial storefronts currently opened into one larger space and set up for a barbershop. The commercial space is ready for immediate use, giving a new owner the flexibility to operate their own business, lease the space for additional income, or reconfigure it for another concept. With established residential income, annual property taxes of just $2,635, and significant upside through the first-floor commercial space, this property offers a strong opportunity for an investor or owner-user. Bring your ideas and take advantage of the potential in Midtown Rockford!

Property Highlights

Property Type: Multi Unit - Multiple

General Information

Sqft: 4,411
County: Winnebago
Listed By:
Realty of America, LLC
Rockford Board of Realtors
$299,900
Est. $2,033/mo
4,411sqft
New to the Market Active
BEDS0 BATHS SQUARE FEET4,411 MLS#202605722
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLRockford 205

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602 7th Street, Rockford, IL 61104.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $299,900$299,900$299,900
Down Payment $59,980$10,497$74,975
Monthly Mortgage Amount $1,516$1,861$1,883
Taxes $417$417$417
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$132$0
Monthly Estimated Total $2,033$2,510$2,400

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