1030 W Berrien St · Galesburg, IL 61401

$49,900

2 bd · 1.0 ba · 902 sqft · Other public records · 215 Days on market

Built 1906 7,800 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Priced to sell! Move in Ready. This cute and Cozy 2 bedroom home has large living room and Kitchen with main floor laundry. Updated bathroom. Nice yard. Will consider selling on contract.

Key facts

• Functional layout
• Nice yard
• Conveniently located

Tags

• FUNCTIONAL LAYOUT
• NICE YARD
• ROOM TO GARDEN
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1906; One or more additional, lower and basement levels
• Construction: Shingle roof; Original construction (not new)
• Exterior features: Level lot; Lot dimensions approximately 156 x 50; Shingle roof

Interior

• Kitchen: Refrigerator included; Kitchen on main level (approx. 16 x 10)
• Bedrooms: 2 bedrooms (primary bedrooms located on the main and upper levels); Bedroom dimensions: one about 12 x 10, the other about 11 x 12
• Flooring: Laminate flooring in bedrooms and main living areas; Other flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fan(s); Full, unfinished basement; Egress window in at least one room
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.17% ✓
• Cap rate: 18.45%
• Cash-on-cash: 43.41%
• DSCR: 2.93
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 40.3%
• Equity multiple: 2.73×
• Total profit: $24,125
• Equity at exit: $7,440

10-year hold

• IRR: 46.6%
• Equity multiple: 5.48×
• Total profit: $62,537
• Equity at exit: $4,314

Cash invested: $13,972 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$67 /mo · $799/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $505

Break-even live

Break-even rent $442

Max offer price $49,900

Occupancy floor 48%

Sensitivity live

Price	-10% $534	-5% $520	+0% $505	+5% $491	+10% $477
Rent	-10% $420	-5% $463	+0% $505	+5% $548	+10% $591
Rate	-1.0pp $531	-0.5pp $518	base $505	+0.5pp $493	+1.0pp $479

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-02
   days on market $49,900 Under Contract 215 DOM
2. 2026-06-01
   days on market $49,900 Under Contract 214 DOM
3. 2026-05-31
   days on market $49,900 Under Contract 213 DOM
4. 2026-05-31
   days on market $49,900 Under Contract 212 DOM
5. 2026-04-30
   historical Under Contract
6. 2025-11-24
   price $49,900
7. 2025-10-30
   listed $54,900 Active
8. 2024-04-09
   historical $799
9. 2024-03-05
   price $799
10. 2024-02-23
    listed $800
11. 2021-08-06
    historical
12. 2020-03-12
    soldstatus $60,000
13. 2018-09-07
    soldstatus $19,500 187-char remark

    Show marketing remark (187 chars)

    Priced to sell! Move in Ready. This cute and Cozy 2 bedroom home has large living room and Kitchen with main floor laundry. Updated bathroom. Nice yard. Will consider selling on contract.

14. 2018-08-27
    listed $26,900 187-char remark

    Show marketing remark (187 chars)

    Priced to sell! Move in Ready. This cute and Cozy 2 bedroom home has large living room and Kitchen with main floor laundry. Updated bathroom. Nice yard. Will consider selling on contract.

15. 2017-05-26
    soldstatus $15,000
16. 2016-11-21
    listed $22,000

ⓘ 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: $799 · $67/mo
• Projected year-2 tax: $966 · $80/mo
• Expected delta: +$167/yr (+$14/mo · 20.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,980
• − Mortgage interest: −$2,795
• − Property taxes: −$799
• − Insurance: −$250
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$1,452
• Taxable income: $5,608
• Est. tax owed @ 24.0%: −$1,346
• After-tax cash flow: $4,719/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

+126.8% since first listed

12 events — show timeline

• 2026-04-30 Contingent — RMLSA as Distributed by MLS Grid
• 2025-11-24 Price Changed $49,900 RMLSA as Distributed by MLS Grid
• 2025-10-30 Listed $54,900 RMLSA as Distributed by MLS Grid
• 2024-04-09 Rental Removed $799 RMLSA
• 2024-03-05 Price Changed $799 RMLSA
• 2024-02-23 Listed for Rent $800 RMLSA
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-03-12 Sold (Public Records) $60,000 Public Records
• 2018-09-07 Sold (MLS) $19,500 RMLSA as Distributed by MLS Grid
• 2018-08-27 Listed $26,900 RMLSA as Distributed by MLS Grid
• 2017-05-26 Sold (MLS) $15,000 RMLSA as Distributed by MLS Grid
• 2016-11-21 Listed $22,000 RMLSA as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2024): $799 · +1.1% YoY. Source: county tax records.