620 NE 1st Ave · Galva, IL 61434

$65,000

3 bd · 1.0 ba · 1,450 sqft · SingleFamily public records · 10 Days on market

Built 1907 0.30 ac lot Est $125k · 48% under

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Why this score? — see what drove the A- 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
• Appreciation +5.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

This 3- bedroom/ 2 bath home is situated on a large corner lot. You will appreciate the convenience of the attached 2-car garage & an additional detached oversized shed-ideal for extra storage, hobbies or workshop space! Inside, the main floor features: nice kitchen with appliances that stay but not warranted. The dining room is open to the living room, updated bath & spacious family room! All 3 bedrooms are located on the second floor. There is another bath on the second floor that hasn't been used in years, offering potential for updating & fixing for future use. This home is being sold "AS IS".

Key facts

• Attached garage
• Open dining room
• Corner lot

Tags

• CORNER LOT
• ATTACHED GARAGE
• DETACHED GARAGE
• OPEN DINING ROOM
• SPACIOUS FAMILY ROOM

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: 3 parking spaces; Attached and detached garage; Gravel parking areas
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Built over 100 years ago; Approx. 1,442 total finished area; Upper level approximately 350
• Construction: Vinyl siding; Asphalt roof; Brick/mortar foundation; Built before 1978
• Exterior features: Patio; Corner, level lot (approx. 99 x 132)

Interior

• Kitchen: Galley-style kitchen; Range; Refrigerator
• Bedrooms: 3 bedrooms (including master bedroom on second level, two additional bedrooms on second level)
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Window air conditioning units
• Interior features: First-floor full bathroom; Separate dining room; Unfinished partial basement; 7 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads 67/100 on livability (#497 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: employment D+, schools F, amenities F.
• Galva CUSD 224 (rural): math 18% / reading 14% proficiency, ranked #497 of 620 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $1k appreciation (1.7% local appreciation)).
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1907 — 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. 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.
5. 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.
6. 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: 1.81% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.19%
• DSCR: 2.30
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $124,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 NW 3rd Ave	0.23mi	3/1.5	1,455 (+0%)	8mo	$155,000	$107	80
104 Front St	0.33mi	2/1.5 (-1)	1,456 (+0%)	6mo	$78,000	$54	72
216 E Division St	0.44mi	3/2.0	1,344 (-7%)	12mo	$82,000	$61	54
815 SE 1st St	0.72mi	3/1.0	1,368 (-6%)	7mo	$118,000	$86	51
815 SE 1st St	0.72mi	3/1.0	1,368 (-6%)	7mo	$118,000	$86	51
118 NE 1st St	0.37mi	3/2.0	1,268 (-13%)	12mo	$75,000	$59	48
415 NE 1st St	0.47mi	3/2.0	1,645 (+13%)	10mo	$45,000	$27	44
103 SE 2nd Ave	0.52mi	3/2.0	1,632 (+13%)	9mo	$89,900	$55	43
103 SW 4th St	0.72mi	4/1.0 (+1)	1,624 (+12%)	1mo	$29,000	$18	40
222 SE 5th St	0.66mi	3/2.0	1,596 (+10%)	11mo	$189,900	$119	39
222 SE 5th St	0.66mi	3/2.0	1,596 (+10%)	11mo	$189,900	$119	39
717 NE 2nd St	0.55mi	4/2.0 (+1)	1,624 (+12%)	11mo	$150,000	$92	37

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

Projected returns pro-forma

1.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.74×
• Total profit: $31,593
• Equity at exit: $24,471

10-year hold

• IRR: 34.4%
• Equity multiple: 5.34×
• Total profit: $78,898
• Equity at exit: $34,364

Cash invested: $18,200 (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 61434

• Home prices YoY: 1.2%
• Active inventory: 22
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $443

Break-even live

Break-even rent $615

Max offer price $65,000

Occupancy floor 57%

Sensitivity live

Price	-10% $479	-5% $461	+0% $443	+5% $424	+10% $406
Rent	-10% $350	-5% $396	+0% $443	+5% $489	+10% $536
Rate	-1.0pp $475	-0.5pp $459	base $443	+0.5pp $426	+1.0pp $409

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-02
   statusdays on market $65,000 Pending 10 DOM
2. 2026-06-01
   days on market $65,000 Active 9 DOM
3. 2026-05-31
   days on market $65,000 Active 8 DOM
4. 2026-05-31
   days on market $65,000 Active 7 DOM
5. 2026-05-23
   listed $65,000 Active

ⓘ 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: $1,418 · $118/mo
• Projected year-2 tax: $1,447 · $121/mo
• Expected delta: +$29/yr (+$2/mo · 2.0%)

ⓘ 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 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: $14,108
• − Mortgage interest: −$3,641
• − Property taxes: −$1,418
• − Insurance: −$325
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$1,891
• Taxable income: $4,576
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $4,214/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: Galva CUSD 224
• NCES district ID: 1716140
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 14% ▼ -15.00%
• Median HH income: $44,393
• Composite: 14.08/100
• National rank: #9463
• State rank: #497 of 620 in IL

Livability — Galva

• Score: 67/100
• State rank: #497
• US rank: #10271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galva, IL
• City population: 2,992
• Population (ZIP): 2,992

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: English 6% Slovak 4% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.67%
• Current HPI: 141.1529
• 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

1 event — show timeline

• 2026-05-23 Listed $65,000 MRED as Distributed by MLS Grid

Property tax history

-1.1%/yr

Latest (2024): $1,418 · -27.0% YoY. Source: county tax records.