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404-406 E Prospect Terrace, 
Freeport, IL 61032

$1,395


Bed


Bath


2,560

Sq Ft


Multi-Family

Active

Listed by

Olga Kampmeier

Keller Williams Realty Signature

815-315-1111

Last updated:

April 1, 2026, 05:41 PM

MLS#

202601617

Source:

IL RAAR

About This Home

404-406 E Prospect Terrace

Stop Renting. Start Owning! Unique homeownership opportunity designed for renters ready to make the move to owning. Two-story duplex featuring 2 bedrooms and 1 bathroom in each unit. The main floor unit offers a spacious living room and separate dining room with hardwood flooring, plus a kitchen with new vinyl plank flooring and main floor laundry hookups. The upper unit features a light-filled living room, separate dining room, and kitchen with new vinyl plank flooring. Property also includes separate basement access, separate utilities, and updated 100-amp service. Great opportunity for an owner-occupant or investor. This property qualifies for a unique homeownership program designed to help renters transition to ownership with minimal upfront cash and a simplified approval process. Example terms: $200,000 purchase price with payments as low as $1,395/month. Security deposit may be applied toward the down payment, and the first month’s rent becomes the first mortgage payment. Program designed for hardworking buyers, including self-employed, 1099 earners, small business owners, ITIN holders, and credit-rebuilding applicants. If you qualify to rent, you may qualify to own. Program availability and terms vary. All approvals subject to income verification and underwriting guidelines. Equal Housing Opportunity.

Home Facts

Multi-Family

Price Summary

1,395

$0 per Sq. Ft.

MLS #:

202601617

Last Updated:

April 1, 2026, 05:41 PM

Added:

8 day(s) ago


Rooms & Interior

Interior

Living Area:

2,560 Sq. Ft.


Structure

Structure

Building Area:

2,560 Sq. Ft.


Finances & Disclosures

Finances

Price:

$1,395

Price per Sq. Ft:

$0 per Sq. Ft.

Source:IL RAAR
The information being provided by Rockford Area Association Of REALTORS® (Raar) Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Rockford Area Association Of REALTORS® (Raar) Mls All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.