1354 E Losey St · Galesburg, IL 61401

$60,000

3 bd · 2.0 ba · 792 sqft · Other public records · 14 Days on market

Built 1911 8,448 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

Classic character with the updates that matter. This three-bedroom, one-and-a-half-bath home blends original charm with sensible modern improvements. Beautiful woodwork throughout gives the home warmth and personality you don't find in newer construction, while updates including newer electrical, replacement windows, and a new sewer clean-out mean the big-ticket systems have already been addressed. The spacious main floor centers on a kitchen with a generous walk-in pantry, offering plenty of room to cook, gather, and entertain. A welcoming home with timeless appeal and room to make it your own. Home is sold as is.

Key facts

• Modern improvements
• New sewer clean-out
• Beautiful woodwork

Tags

• ORIGINAL CHARM
• MODERN IMPROVEMENTS
• BEAUTIFUL WOODWORK
• NEWER ELECTRICAL
• REPLACEMENT WINDOWS
• NEW SEWER CLEAN-OUT

Property features AI

Exterior

• Parking: Detached 2-car garage; Shared driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1911
• Construction: Shingle roof
• Exterior features: Level lot

Interior

• Kitchen: Kitchen on main level with luxury vinyl plank flooring
• Bedrooms: 3 bedrooms (one on main level; two on upper level)
• Flooring: Carpet in bedrooms; Luxury vinyl plank in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 12.4% 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 $415 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 12.45%
• Cash-on-cash: 21.99%
• DSCR: 1.98
• GRM: 4.6

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: 14.8%
• Equity multiple: 1.59×
• Total profit: $9,985
• Equity at exit: $8,946

10-year hold

• IRR: 23.6%
• Equity multiple: 3.04×
• Total profit: $34,351
• Equity at exit: $5,188

Cash invested: $16,800 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$212 /mo · $2,545/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $308

Break-even live

Break-even rent $698

Max offer price $60,000

Occupancy floor 67%

Sensitivity live

Price	-10% $342	-5% $325	+0% $308	+5% $291	+10% $274
Rent	-10% $222	-5% $265	+0% $308	+5% $351	+10% $394
Rate	-1.0pp $338	-0.5pp $323	base $308	+0.5pp $292	+1.0pp $276

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-17
   status $60,000 Pending 14 DOM
2. 2026-06-16
   days on market $60,000 Active 14 DOM
3. 2026-06-15
   days on market $60,000 Active 13 DOM
4. 2026-06-13
   days on market $60,000 Active 11 DOM
5. 2026-06-12
   days on market $60,000 Active 10 DOM
6. 2026-06-09
   days on market $60,000 Active 7 DOM
7. 2026-06-08
   days on market $60,000 Active 6 DOM
8. 2026-06-07
   days on market $60,000 Active 5 DOM
9. 2026-06-07
   days on market $60,000 Active 4 DOM
10. 2026-06-03
    remarks 622-char remark
11. 2026-06-03
    listed $60,000 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: $2,545 · $212/mo
• Projected year-2 tax: $2,545 · $212/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 6/10 Major FEMA zone X (unshaded) · 71% 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: $13,057
• − Mortgage interest: −$3,361
• − Property taxes: −$2,545
• − Insurance: −$300
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,745
• Taxable income: $3,016
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $2,970/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

+0.2% since first listed

14 events — show timeline

• 2026-06-02 Listed $60,000 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
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-08-14 Sold (Public Records) $72,000 Public Records
• 2015-08-14 Sold (MLS) $71,900 RMLSA as Distributed by MLS Grid
• 2015-06-22 Listed $71,900 RMLSA as Distributed by MLS Grid
• 2004-06-30 Sold (MLS) $48,000 RMLSA as Distributed by MLS Grid
• 2004-03-22 Listed $54,500 RMLSA as Distributed by MLS Grid
• 2003-06-12 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2002-11-08 Listed $38,500 RMLSA as Distributed by MLS Grid
• 2000-10-06 Sold (MLS) $58,500 RMLSA as Distributed by MLS Grid
• 1999-12-30 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2024): $2,545 · +1.0% YoY. Source: county tax records.