1465 Jefferson St · Galesburg, IL 61401

$59,900

2 bd · 1.0 ba · 648 sqft · Other · 90 Days on market

Built 1946 10,454 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

Affordable Living with your 2 Bedroom Home offering covered front porch, living room open to kitchen which includes stove and refrigerator, dining room, bathroom, and full basement ideal for additional storage, and hobbies. Low maintenance vinyl exterior, concrete drive, and nice yard perfect for outdoor enjoyment, gardening, and recreation. Located in a neighborhood that is close to schools, restaurants, shopping, and recreation. Investors you might want to look too!

Key facts

• Covered front porch
• Full basement
• Concrete drive

Tags

• COVERED FRONT PORCH
• LIVING ROOM OPEN TO KITCHEN
• FULL BASEMENT
• LOW MAINTENANCE VINYL EXTERIOR
• CONCRETE DRIVE
• NICE YARD

Property features AI

Exterior

• Parking: No garage (paved parking)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1946; Full basement
• Construction: Shingle roof
• Exterior features: Level lot; Paved road; Paved parking; Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (one on the main level; one on the upper level)
• Flooring: Luxury vinyl plank in primary bedroom and second bedroom; Laminate in kitchen and living room; Luxury vinyl plank in dining room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas water heater; Window air conditioning unit(s)
• Interior features: Cable available; Replacement windows

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: Steele School (math 22% / reading 27%, grade F, #850 of 2,056 statewide, top 45%, 503 students, 0% FRL); Lombard Middle School (math 6% / reading 16%, grade F, #574 of 665 statewide, top 87%, 532 students, 0% FRL); 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: 191 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 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

• It's been on market 90 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 1.64% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.18%
• DSCR: 2.03
• GRM: 5.1

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: 16.2%
• Equity multiple: 1.65×
• Total profit: $10,966
• Equity at exit: $8,931

10-year hold

• IRR: 24.9%
• Equity multiple: 3.16×
• Total profit: $36,272
• Equity at exit: $5,179

Cash invested: $16,772 (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: 191
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $324

Break-even live

Break-even rent $571

Max offer price $59,900

Occupancy floor 62%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $59,900 Under Contract 90 DOM
2. 2026-06-17
   days on market $59,900 Under Contract 89 DOM
3. 2026-06-16
   days on market $59,900 Under Contract 88 DOM
4. 2026-06-15
   days on market $59,900 Under Contract 87 DOM
5. 2026-06-13
   days on market $59,900 Under Contract 85 DOM
6. 2026-06-12
   days on market $59,900 Under Contract 84 DOM
7. 2026-06-09
   days on market $59,900 Under Contract 81 DOM
8. 2026-06-08
   days on market $59,900 Under Contract 80 DOM
9. 2026-06-07
   days on market $59,900 Under Contract 79 DOM
10. 2026-06-07
    days on market $59,900 Under Contract 78 DOM
11. 2026-06-04
    days on market $59,900 Under Contract 75 DOM
12. 2026-06-02
    days on market $59,900 Under Contract 74 DOM
13. 2026-06-01
    days on market $59,900 Under Contract 73 DOM
14. 2026-05-31
    days on market $59,900 Under Contract 72 DOM
15. 2026-05-31
    days on market $59,900 Under Contract 71 DOM
16. 2026-04-09
    historical Under Contract
17. 2026-04-03
    status Active
18. 2026-03-23
    historical Under Contract
19. 2026-03-20
    listed $59,900 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: $1,341 · $112/mo
• Projected year-2 tax: $1,350 · $113/mo
• Expected delta: +$10/yr (+$1/mo · 0.7%)

ⓘ 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: $11,769
• − Mortgage interest: −$3,355
• − Property taxes: −$1,341
• − Insurance: −$300
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$1,743
• Taxable income: $3,148
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,132/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

4 events — show timeline

• 2026-04-09 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-03 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-23 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-20 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+13.3%/yr

Latest (2024): $1,341 · +0.9% YoY. Source: county tax records.