1415 Conger St · Galesburg, IL 61401

$49,700

3 bd · 1.5 ba · 1,040 sqft · Other public records · 111 Days on market

Built 1878 0.40 ac lot $48/sqft · 24% below area ↓ 49% 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
• 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

Located near King school, this 3-bedroom home sits on a double corner lot and features a spacious living room with hardwood flooring. The home includes a kitchen, front porch, open staircase to the second floor, and a 6-ft privacy fenced backyard. The property presents a strong opportunity for renovation and customization. Being sold as-is and will require significant improvements - ideal for investors or buyers seeking a full project.

Key facts

• Hardwood flooring
• Open staircase
• Double corner lot

Tags

• DOUBLE CORNER LOT
• HARDWOOD FLOORING
• 6-FT PRIVACY FENCED BACKYARD
• OPEN STAIRCASE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/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: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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: schools F, crime F, commute F.
• 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.
• Market conditions: 198 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $344 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $50k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,227 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.01% ✓
• Cap rate: 15.26%
• Cash-on-cash: 32.03%
• DSCR: 2.43
• GRM: 4.1

CMA / ARV

• ARV (median comp): $110,200
• List price: $49,700
• Delta: -54.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.1%
• Equity multiple: 2.13×
• Total profit: $15,664
• Equity at exit: $7,410

10-year hold

• IRR: 34.7%
• Equity multiple: 4.19×
• Total profit: $44,349
• Equity at exit: $4,297

Cash invested: $13,916 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$261
• Tax from tax record: −$137 /mo · $1,647/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $371

Break-even live

Break-even rent $530

Max offer price $49,700

Occupancy floor 58%

Sensitivity live

Price	-10% $400	-5% $385	+0% $371	+5% $357	+10% $343
Rent	-10% $292	-5% $332	+0% $371	+5% $411	+10% $450
Rate	-1.0pp $396	-0.5pp $384	base $371	+0.5pp $359	+1.0pp $345

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: $12,425
• Closing costs: $1,491
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1156 E Losey St Galesburg, IL	3.0	1.0	1500	$1,000	$0.67	44d	1	1.09mi

Listing history 25 events

1. 2026-06-21
   days on market $49,700 Active 111 DOM
2. 2026-06-18
   days on market $49,700 Active 109 DOM
3. 2026-06-17
   days on market $49,700 Active 108 DOM
4. 2026-06-16
   days on market $49,700 Active 107 DOM
5. 2026-06-15
   days on market $49,700 Active 106 DOM
6. 2026-06-13
   days on market $49,700 Active 104 DOM
7. 2026-06-12
   days on market $49,700 Active 103 DOM
8. 2026-06-09
   days on market $49,700 Active 100 DOM
9. 2026-06-08
   days on market $49,700 Active 99 DOM
10. 2026-06-07
    days on market $49,700 Active 98 DOM
11. 2026-06-07
    days on market $49,700 Active 97 DOM
12. 2026-06-04
    days on market $49,700 Active 94 DOM
13. 2026-06-02
    days on market $49,700 Active 93 DOM
14. 2026-06-01
    price $49,700 Active 92 DOM
15. 2026-06-01
    days on market $54,700 Active 92 DOM
16. 2026-05-31
    days on market $54,700 Active 91 DOM
17. 2026-05-31
    days on market $54,700 Active 90 DOM
18. 2026-05-01
    price $54,700 441-char remark

    Show marketing remark (441 chars)

    Located near King school, this 3-bedroom home sits on a double corner lot and features a spacious living room with hardwood flooring. The home includes a kitchen, front porch, open staircase to the second floor, and a 6-ft privacy fenced backyard. The property presents a strong opportunity for renovation and customization. Being sold as-is and will require significant improvements - ideal for investors or buyers seeking a full project.

19. 2026-04-01
    price $59,700 441-char remark

    Show marketing remark (441 chars)

    Located near King school, this 3-bedroom home sits on a double corner lot and features a spacious living room with hardwood flooring. The home includes a kitchen, front porch, open staircase to the second floor, and a 6-ft privacy fenced backyard. The property presents a strong opportunity for renovation and customization. Being sold as-is and will require significant improvements - ideal for investors or buyers seeking a full project.

20. 2026-03-16
    price $64,700 441-char remark

    Show marketing remark (441 chars)

    Located near King school, this 3-bedroom home sits on a double corner lot and features a spacious living room with hardwood flooring. The home includes a kitchen, front porch, open staircase to the second floor, and a 6-ft privacy fenced backyard. The property presents a strong opportunity for renovation and customization. Being sold as-is and will require significant improvements - ideal for investors or buyers seeking a full project.

21. 2026-03-01
    listed $69,700 Active 441-char remark

    Show marketing remark (441 chars)

    Located near King school, this 3-bedroom home sits on a double corner lot and features a spacious living room with hardwood flooring. The home includes a kitchen, front porch, open staircase to the second floor, and a 6-ft privacy fenced backyard. The property presents a strong opportunity for renovation and customization. Being sold as-is and will require significant improvements - ideal for investors or buyers seeking a full project.

22. 2025-04-21
    soldstatus $26,244 Closed 615-char remark

    Show marketing remark (615 chars)

    Welcome Home to 1415 Conger Street! This 2-Story home is situated on a corner lot and features approximately 1,040 square feet! SOLD AS-IS. This Fannie Mae Property is eligible for First Look Program until 3/19/2025. No Trespassing! Do Not Disturb Occupant(s)! No Showings Permitted! This property has been placed in an upcoming online event. All bids should be submitted via Xome Auction website. All properties are subject to buyer's premium, and bidding is pursuant to the Xome Auction Participation Agreement. Please contact listing office for property details. Property is Sold AS-IS. Equal Housing Opportunity

23. 2025-04-01
    status Pending 615-char remark

    Show marketing remark (615 chars)

    Welcome Home to 1415 Conger Street! This 2-Story home is situated on a corner lot and features approximately 1,040 square feet! SOLD AS-IS. This Fannie Mae Property is eligible for First Look Program until 3/19/2025. No Trespassing! Do Not Disturb Occupant(s)! No Showings Permitted! This property has been placed in an upcoming online event. All bids should be submitted via Xome Auction website. All properties are subject to buyer's premium, and bidding is pursuant to the Xome Auction Participation Agreement. Please contact listing office for property details. Property is Sold AS-IS. Equal Housing Opportunity

24. 2025-02-14
    price $2,100 615-char remark

    Show marketing remark (615 chars)

    Welcome Home to 1415 Conger Street! This 2-Story home is situated on a corner lot and features approximately 1,040 square feet! SOLD AS-IS. This Fannie Mae Property is eligible for First Look Program until 3/19/2025. No Trespassing! Do Not Disturb Occupant(s)! No Showings Permitted! This property has been placed in an upcoming online event. All bids should be submitted via Xome Auction website. All properties are subject to buyer's premium, and bidding is pursuant to the Xome Auction Participation Agreement. Please contact listing office for property details. Property is Sold AS-IS. Equal Housing Opportunity

25. 2025-02-14
    listed $107,000 Active 615-char remark

    Show marketing remark (615 chars)

    Welcome Home to 1415 Conger Street! This 2-Story home is situated on a corner lot and features approximately 1,040 square feet! SOLD AS-IS. This Fannie Mae Property is eligible for First Look Program until 3/19/2025. No Trespassing! Do Not Disturb Occupant(s)! No Showings Permitted! This property has been placed in an upcoming online event. All bids should be submitted via Xome Auction website. All properties are subject to buyer's premium, and bidding is pursuant to the Xome Auction Participation Agreement. Please contact listing office for property details. Property is Sold AS-IS. Equal Housing Opportunity

ⓘ 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: $1,647 · $137/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $12,000
• − Mortgage interest: −$2,784
• − Property taxes: −$1,647
• − Insurance: −$248
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,446
• Taxable income: $3,955
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $3,508/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

-48.9% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $54,700 RMLSA as Distributed by MLS Grid
• 2026-04-01 Price Changed $59,700 RMLSA as Distributed by MLS Grid
• 2026-03-16 Price Changed $64,700 RMLSA as Distributed by MLS Grid
• 2026-03-01 Listed $69,700 RMLSA as Distributed by MLS Grid
• 2025-04-21 Sold (MLS) $26,244 MRED as Distributed by MLS Grid
• 2025-04-01 Pending — MRED as Distributed by MLS Grid
• 2025-02-14 Price Changed $2,100 MRED as Distributed by MLS Grid
• 2025-02-14 Listed $107,000 MRED as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2024): $1,647 · +2.9% YoY. Source: county tax records.