128 Oren Lane Not Applicable · Galesburg, IL 61401

$23,000

3 bd · 1.0 ba · 896 sqft · Manufactured · 775 Days on market

Built 2024 Poor condition

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2024
• Listed 775 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $23k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.2% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $159 of loan paydown is wiped out by about $690 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 775 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Recommended offer $20,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 775 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.66% ✓
• Cap rate: 42.21%
• Cash-on-cash: 128.28%
• DSCR: 6.71
• GRM: 1.8

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: —
• Equity multiple: 7.23×
• Total profit: $40,136
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 15.20×
• Total profit: $91,475
• Equity at exit: $1,989

Cash invested: $6,440 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$121
• Tax est. 1.5%: −$29 /mo · $345/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $688

Break-even live

Break-even rent $201

Max offer price $23,000

Occupancy floor 31%

Sensitivity live

Price	-10% $704	-5% $696	+0% $688	+5% $680	+10% $673
Rent	-10% $604	-5% $646	+0% $688	+5% $731	+10% $773
Rate	-1.0pp $700	-0.5pp $694	base $688	+0.5pp $682	+1.0pp $676

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $23,000 Active 775 DOM
2. 2026-06-18
   days on market $23,000 Active 773 DOM
3. 2026-06-17
   days on market $23,000 Active 772 DOM
4. 2026-06-16
   days on market $23,000 Active 771 DOM
5. 2026-06-15
   days on market $23,000 Active 770 DOM
6. 2026-06-13
   days on market $23,000 Active 768 DOM
7. 2026-06-12
   days on market $23,000 Active 767 DOM
8. 2026-06-09
   days on market $23,000 Active 764 DOM
9. 2026-06-08
   days on market $23,000 Active 763 DOM
10. 2026-06-07
    days on market $23,000 Active 762 DOM
11. 2026-06-07
    days on market $23,000 Active 761 DOM
12. 2026-06-04
    days on market $23,000 Active 758 DOM
13. 2026-06-02
    days on market $23,000 Active 757 DOM
14. 2026-06-01
    days on market $23,000 Active 756 DOM
15. 2026-05-31
    days on market $23,000 Active 755 DOM
16. 2026-05-31
    days on market $23,000 Active 754 DOM
17. 2024-05-06
    status Active 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

18. 2024-05-04
    historical 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

19. 2024-05-03
    status Active 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

20. 2024-04-23
    historical 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

21. 2024-04-23
    status Active 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

22. 2024-04-23
    historical 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

23. 2024-04-22
    listed $23,000 Active 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $12,872
• − Mortgage interest: −$1,288
• − Property taxes: −$345
• − Insurance: −$115
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$669
• Taxable income: $8,395
• Est. tax owed @ 24.0%: −$2,015
• After-tax cash flow: $6,246/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and maintenance, including exterior siding, roof, and landscaping. Immediate action is needed to improve its condition and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but may need inspection
• Major landscaping — Overgrown lawn, unkempt appearance

Value-add opportunities

• Both exterior siding repair — Improves curb appeal and home value
• Both landscaping — Enhances curb appeal and home value
• Rental HVAC maintenance — Ensures comfort and reduces utility costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but may need inspection	Major	$15,000–50,000
landscaping · Overgrown lawn, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior siding repair — Improves curb appeal and home value ↑
• Both landscaping — Enhances curb appeal and home value ↑
• Rental HVAC maintenance — Ensures comfort and reduces utility costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

7 events — show timeline

• 2024-05-06 Relisted — Zillow
• 2024-05-04 Delisted — Zillow
• 2024-05-03 Relisted — Zillow
• 2024-04-23 Delisted — Zillow
• 2024-04-23 Relisted — Zillow
• 2024-04-23 Delisted — Zillow
• 2024-04-22 Listed $23,000 Zillow