39 Arnold St · Galesburg, IL 61401

$57,000

3 bd · 2.5 ba · 872 sqft · SingleFamily public records · 48 Days on market

Built 1913 $65/sqft · at area comps Est $69k · 17% under ↓ 15% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This well-built Craftsman style home is priced to sell, complete with charming features such as leaded glass windows, hardwood floors under the carpet, and a sizeable front porch. The large entry foyer is currently a main floor bedroom, with a full bath off of the eat-in kitchen. Big pantry and formal dining room too! Upstairs are 3 bedrooms and another full bath. There is a separate entrance to the 2nd floor, which was once an apartment. The stove hookup and kitchen sink are still there, if a second unit is desired. Lots of storage with large closets! A nice dry basement offers plenty of room and can easily be finished living space as well. The washer and dryer are conveniently located at

Key facts

• Sizeable front porch
• Big pantry
• Leaded glass windows

Tags

• LEADED GLASS WINDOWS
• HARDWOOD FLOORS
• SIZEABLE FRONT PORCH
• MAIN FLOOR BEDROOM
• FULL BATH
• BIG PANTRY

Property features AI

Exterior

• Parking: No garage spaces listed; Other parking features
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1913
• Construction: 1002 total building area
• Exterior features: Shingle roof; Level lot; Lot dimensions approximately 44 x 101 x 44 x 101

Interior

• Kitchen: Refrigerator; Microwave
• Bedrooms: Three bedrooms — primary bedroom on the upper level (two other bedrooms also on upper level); Bedroom dimensions approximately: 12 x 10.2, 12 x 10, and 9.6 x 9.6; Bedrooms have egress windows
• Flooring: Hardwood in some upstairs bedrooms; Carpet in living areas, dining, and some bedrooms; Vinyl in basement laundry
• Bathrooms: Two full bathrooms and one half bathroom
• Heating & cooling: Forced air heating; Gas water heater; Window unit(s) for cooling
• Interior features: Full basement; Level lot (mentioned with interior/room info)
• Laundry & utility: Washer and Dryer; Basement laundry area (vinyl flooring)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Recommended offer: $55k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 6.4% in Galesburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#367 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment D-.
• Galesburg CUSD 205 (town): math 13% / reading 22% proficiency, ranked #488 of 620 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: King School (math 8% / reading 17%, grade F, #1,371 of 2,056 statewide, top 68%, 531 students, 0% FRL); Lombard Middle School (math 6% / reading 16%, grade F, #574 of 665 statewide, top 87%, 532 students, 0% FRL); Galesburg Senior High School (math 19% / reading 24%, grade F, #345 of 693 statewide, top 50%, 1,762 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 198 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $394 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Knox County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,290 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.89% ✓
• Cap rate: 15.93%
• Cash-on-cash: 34.42%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

• ARV (median comp): $68,716
• List price: $57,000
• Delta: -17.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
187 Silver St	0.22mi	3/1.0	880 (+1%)	7mo	$65,000	$74	77
85 Phillips St	0.09mi	2/1.0 (-1)	848 (-3%)	9mo	$54,000	$64	72
100 Lake St	0.30mi	2/1.0 (-1)	860 (-1%)	8mo	$84,000	$98	66
95 Phillips St	0.10mi	2/1.0 (-1)	964 (+11%)	8mo	$55,000	$57	60
1397 Haynor St	0.22mi	2/1.0 (-1)	980 (+12%)	3mo	$71,000	$72	55
1961 Washington St	0.35mi	2/1.0 (-1)	952 (+9%)	9mo	$54,900	$58	50
756 Arnold St	0.58mi	3/1.0	960 (+10%)	1mo	$77,000	$80	50
1586 E North St	0.22mi	2/1.0 (-1)	768 (-12%)	11mo	$25,000	$33	49
1526 Grand Ave	0.43mi	2/1.0 (-1)	792 (-9%)	9mo	$44,400	$56	46
763 Mulberry St	0.63mi	2/1.0 (-1)	960 (+10%)	2mo	$35,000	$36	41
1828 Baird Ave	0.73mi	2/1.0 (-1)	780 (-11%)	4mo	$82,500	$106	33
1837 Baird Ave	0.73mi	2/1.0 (-1)	978 (+12%)	9mo	$97,000	$99	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 2.25×
• Total profit: $19,937
• Equity at exit: $8,499

10-year hold

• IRR: 37.2%
• Equity multiple: 4.44×
• Total profit: $54,972
• Equity at exit: $4,928

Cash invested: $15,960 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 61401

• Active inventory: 198
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$299
• Tax est. 1.5%: −$71 /mo · $855/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $458

Break-even live

Break-even rent $499

Max offer price $57,000

Occupancy floor 53%

Sensitivity live

Price	-10% $497	-5% $477	+0% $458	+5% $438	+10% $418
Rent	-10% $373	-5% $415	+0% $458	+5% $500	+10% $543
Rate	-1.0pp $487	-0.5pp $472	base $458	+0.5pp $443	+1.0pp $428

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $57,000 Active 48 DOM
2. 2026-06-21
   days on market $57,000 Active 47 DOM
3. 2026-06-21
   days on market $57,000 Active 46 DOM
4. 2026-06-18
   days on market $57,000 Active 44 DOM
5. 2026-06-17
   days on market $57,000 Active 43 DOM
6. 2026-06-16
   days on market $57,000 Active 42 DOM
7. 2026-06-15
   days on market $57,000 Active 41 DOM
8. 2026-06-13
   days on market $57,000 Active 39 DOM
9. 2026-06-12
   days on market $57,000 Active 38 DOM
10. 2026-06-09
    days on market $57,000 Active 35 DOM
11. 2026-06-09
    price $57,000 Active 34 DOM
12. 2026-06-08
    days on market $67,000 Active 34 DOM
13. 2026-06-07
    days on market $67,000 Active 33 DOM
14. 2026-06-07
    days on market $67,000 Active 32 DOM
15. 2026-06-04
    days on market $67,000 Active 29 DOM
16. 2026-06-02
    days on market $67,000 Active 28 DOM
17. 2026-06-01
    days on market $67,000 Active 27 DOM
18. 2026-05-31
    days on market $67,000 Active 26 DOM
19. 2026-05-31
    days on market $67,000 Active 25 DOM
20. 2026-05-05
    listed $67,000 Active 1025-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,937
• − Mortgage interest: −$3,193
• − Property taxes: −$855
• − Insurance: −$285
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$1,658
• Taxable income: $4,876
• Est. tax owed @ 24.0%: −$1,170
• After-tax cash flow: $4,323/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Galesburg CUSD 205
• NCES district ID: 1716080
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 22% ▼ -11.00%
• Median HH income: $35,901
• Composite: 14.46/100
• National rank: #9427
• State rank: #488 of 620 in IL

Livability — Galesburg

• Score: 70/100
• State rank: #367
• US rank: #7601

Category grades

Amenities B Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galesburg, IL
• City population: 32,318
• Population (ZIP): 30,684

Population outlook (Knox County) Hauer SSP2

• Today (2025): 48,224 people
• By 2030: 46,333 · -3.9%
• By 2040: 42,424 · -12.0%
• By 2050: 38,929 · -19.3%
• By 2075: 31,523 · -34.6%
• By 2100: 24,092 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 8% Hispanic / Latino 8% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Knox

• 2024 margin: Lean R (+9.4) · D 44.4% · R 53.7% · Other 1.9%
• 2008→2024 swing: -29.3pp toward R · 2008: 19.9pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+5.6 2016: R+3.3 2012: D+17.1 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.48%
• Current HPI: 157.276
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

-14.9% since first listed

2 events — show timeline

• 2026-06-08 Price Changed $57,000 RMLSA as Distributed by MLS Grid
• 2026-05-05 Listed $67,000 RMLSA as Distributed by MLS Grid