635 W Fremont St · Galesburg, IL 61401

$74,900

2 bd · 1.0 ba · 836 sqft · SingleFamily · 4 Days on market

Built 1951 9,180 sqft lot Est $82k · 9% under

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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 +11.4/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Single-level living in Galesburg, ideal for downsizers or anyone wanting simplicity. This 2 bedroom, 1 bath home features hardwood floors, knotty pine walls, and an open-concept main living area. An attached garage makes bringing in the groceries a breeze! The new step in shower adds more convenience. A full unfinished basement offers room to expand or store. Recent updates include a new water heater (2023) and a new roof and gutters (2024). Out back, a separate carport provides additional covered parking for entertaining area, storing your toys or a second vehicle!. Sold as-is. Schedule your showing today.

Key facts

• Knotty pine walls
• New step in shower
• Single-level living

Tags

• SINGLE-LEVEL LIVING
• HARDWOOD FLOORS
• KNOTTY PINE WALLS
• OPEN-CONCEPT MAIN LIVING AREA
• NEW STEP IN SHOWER
• FULL UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached garage (1 car); Carport; Gravel parking areas
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1951; Living area about 836
• Construction: Not new construction
• Exterior features: Level lot; Lot dimensions approximately 91.8 x 100; Shingle roof

Interior

• Kitchen: Kitchen with vinyl flooring; Refrigerator included
• Bedrooms: 2 bedrooms (both on the main level; primary approx. 12.75 x 9.1 ft, second approx. 12.25 x 10.25 ft); Bedrooms have egress windows; Hardwood flooring in bedrooms
• Flooring: Hardwood flooring in main living areas and bedrooms; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Refrigerator included; No fireplaces
• Laundry & utility: Has utility areas in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.5% 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: 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 $518 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $44k; list at $75k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.43% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.28%
• DSCR: 1.99
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $81,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
852 Maple Ave	0.36mi	2/1.0	861 (+3%)	6mo	$50,600	$59	73
849 Frank St	0.26mi	3/1.0 (+1)	864 (+3%)	8mo	$69,900	$81	71
972 Olive St	0.34mi	2/1.0	768 (-8%)	1mo	$85,000	$111	69
1064 Monroe St	0.17mi	2/1.0	936 (+12%)	5mo	$107,500	$115	68
899 Lawrence Ave	0.43mi	3/1.0 (+1)	782 (-6%)	10mo	$89,900	$115	56
1144 Court Street Court	0.44mi	2/1.0	936 (+12%)	6mo	$99,000	$106	54
1095 N West St	0.39mi	3/2.0 (+1)	896 (+7%)	8mo	$88,000	$98	54
52 W Losey St	0.71mi	2/1.0	811 (-3%)	9mo	$48,000	$59	54
380 Maple Ave	0.73mi	2/1.0	880 (+5%)	6mo	$68,225	$78	53
696 Olive St	0.51mi	2/1.0	936 (+12%)	12mo	$82,500	$88	46
864 W Grove St	0.70mi	2/1.5	922 (+10%)	5mo	$92,000	$100	44
447 Maple Ave	0.69mi	2/1.0	921 (+10%)	15mo	$32,500	$35	39

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: 15.0%
• Equity multiple: 1.60×
• Total profit: $12,643
• Equity at exit: $11,168

10-year hold

• IRR: 23.7%
• Equity multiple: 3.04×
• Total profit: $42,855
• Equity at exit: $6,476

Cash invested: $20,972 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$31 /mo · $371/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $389

Break-even live

Break-even rent $576

Max offer price $74,900

Occupancy floor 59%

Sensitivity live

Price	-10% $432	-5% $411	+0% $389	+5% $368	+10% $347
Rent	-10% $305	-5% $347	+0% $389	+5% $432	+10% $474
Rate	-1.0pp $427	-0.5pp $408	base $389	+0.5pp $370	+1.0pp $350

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-12
   status $74,900 Pending 4 DOM
2. 2026-06-09
   days on market $74,900 Active 4 DOM
3. 2026-06-08
   days on market $74,900 Active 3 DOM
4. 2026-06-07
   days on market $74,900 Active 2 DOM
5. 2026-06-07
   remarks 614-char remark
6. 2026-06-07
   listed $74,900 Active 1 DOM

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $371 · $31/mo
• Projected year-2 tax: $1,036 · $86/mo
• Expected delta: +$665/yr (+$55/mo · 179.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 0% 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: $12,825
• − Mortgage interest: −$4,196
• − Property taxes: −$371
• − Insurance: −$374
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$2,179
• Taxable income: $3,653
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $3,796/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

+62.8% since first listed

7 events — show timeline

• 2026-06-05 Listed $74,900 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2005-04-22 Sold (MLS) $43,500 RMLSA as Distributed by MLS Grid
• 2004-12-16 Listed $46,000 RMLSA as Distributed by MLS Grid

Property tax history

-9.4%/yr

Latest (2024): $371 · -51.6% YoY. Source: county tax records.