503 W Palace · Geneseo, IL 61252

$199,900

3 bd · 1.0 ba · 1,464 sqft · SingleFamily public records · 27 Days on market

Built 1949 5,662 sqft lot Est $171k · 17% over

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Why this score? — see what drove the F 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 +5.8/30.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +1.1/10.0
• DSCR +0.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming \ 3-bedroom, 1.5-bathroom home in Geneseo, featuring a delightful Tudor-influenced style on a desirable corner lot. Recently renovated & move-in ready, this home has fresh paint inside & out, new carpet, new LVP flooring, a new kitchen backsplash, updated kitchen fixtures, & remodeled bathrooms. The main floor offers a bright living room & an informal dining room w/ a wood-burning fireplace & character-rich slanted ceilings, alongside a kitchen, bedroom, half-bath, & a great office w/ built-in shelves. Upstairs, 2 more bedrooms share a full bath, w/ 1 bedroom featuring a versatile flex space ideal for a walk-in closet or sitting room, plus ample s

Key facts

• Built in shelves
• Corner lot
• Remodeled bathrooms

Tags

• CORNER LOT
• NEW KITCHEN BACKSPLASH
• UPDATED KITCHEN FIXTURES
• REMODELED BATHROOMS
• WOOD BURNING FIREPLACE
• BUILT IN SHELVES

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces (total 2)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; Two stories; Not attached to another property; Built before 1978
• Construction: Wood siding and stucco exterior; Block and concrete perimeter foundation; Approximately 71–80 years old
• Exterior features: Corner, level lot; Lot dimensions approximately 90 x 63

Interior

• Kitchen: Dishwasher; Range; Range hood; Microwave; Refrigerator
• Bedrooms: Three bedrooms
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full unfinished basement with crawl space and egress window
• Laundry & utility: Washer and dryer included; Water softener (owned); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-402 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (35.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (39.4% below list).
• Recommended offer: $121k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 6.9% in Geneseo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 83/100 on livability (#45 in IL, #907 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, commute F.
• Geneseo CUSD 228 (town): math 23% / reading 26% proficiency, ranked #297 of 620 in IL (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask is 9651% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $91k; list at $200k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,184 (39.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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?
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: 0.61% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.61%
• DSCR: 0.62
• GRM: 13.7

CMA / ARV

• ARV (on-the-fly): $171,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 N Stewart St	0.12mi	3/1.5	1,448 (-1%)	12mo	$175,000	$121	80
425 N Stewart St	0.12mi	3/1.5	1,448 (-1%)	12mo	$175,000	$121	80
127 N Vail St	0.23mi	3/2.0	1,538 (+5%)	5mo	$155,000	$101	73
326 N Vail St	0.12mi	4/2.0 (+1)	1,580 (+8%)	4mo	$159,900	$101	69
522 N State St	0.34mi	3/1.5	1,662 (+14%)	4mo	$186,750	$112	57
215 N Oakwood Ave	0.40mi	3/2.0	1,596 (+9%)	11mo	$185,000	$116	53
225 E Wells St	0.44mi	3/1.5	1,680 (+15%)	2mo	$170,500	$101	51
634 N State St	0.42mi	3/2.0	1,624 (+11%)	10mo	$173,000	$107	50
327 E Wells St	0.52mi	3/1.5	1,664 (+14%)	12mo	$194,500	$117	41
327 E Wells St	0.52mi	3/1.5	1,664 (+14%)	12mo	$194,500	$117	41
510 N Meadow St	0.62mi	2/2.5 (-1)	1,343 (-8%)	6mo	$220,000	$164	41
521 E Park St	0.70mi	3/2.0	1,295 (-12%)	11mo	$158,000	$122	35

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

Projected returns pro-forma

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

5-year hold

• IRR: -31.5%
• Equity multiple: -0.04×
• Total profit: $-57,974
• Equity at exit: $29,806

10-year hold

• IRR: -35.4%
• Equity multiple: -0.49×
• Total profit: $-83,411
• Equity at exit: $17,284

Cash invested: $55,972 (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 61252

• Home prices YoY: -31.5%
• Active inventory: 1
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$228 /mo · $2,730/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-402

Break-even live

Break-even rent $1,720

Max offer price $128,932

Occupancy floor —

Sensitivity live

Price	-10% $-289	-5% $-345	+0% $-402	+5% $-458	+10% $-515
Rent	-10% $-497	-5% $-450	+0% $-402	+5% $-354	+10% $-306
Rate	-1.0pp $-301	-0.5pp $-351	base $-402	+0.5pp $-454	+1.0pp $-506

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-22
   status Active
2. 2026-03-05
   historical
3. 2026-02-11
   price
4. 2026-02-01
   historical $2,050
5. 2026-01-19
   listed $2,050
6. 2026-01-16
   historical
7. 2026-01-15
   status Active
8. 2026-01-14
   historical
9. 2026-01-08
   status Active
10. 2026-01-06
    historical
11. 2026-01-05
    historical
12. 2025-12-15
    listed Active
13. 2021-08-06
    historical
14. 2018-05-31
    soldstatus $91,000
15. 2018-05-31
    soldstatus $91,000
16. 2018-02-21
    listed $94,900
17. 2018-02-21
    listed $94,900
18. 2006-08-30
    soldstatus $105,000
19. 2006-07-02
    listed $105,000

ⓘ 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: $2,730 · $228/mo
• Projected year-2 tax: $3,634 · $303/mo
• Expected delta: +$904/yr (+$75/mo · 33.1%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,542
• − Mortgage interest: −$11,198
• − Property taxes: −$2,730
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$5,815
• Taxable loss: −$8,527
• Est. tax savings @ 24.0%: +$2,046
• After-tax cash flow: $-2,774/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: Geneseo CUSD 228
• NCES district ID: 1716350
• Math proficiency: 23% ▼ -10.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $63,288
• Composite: 22.91/100
• National rank: #7996
• State rank: #297 of 620 in IL

Livability — Geneseo

• Score: 83/100
• State rank: #45
• US rank: #907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneseo, IL
• City population: 12,049
• Population (ZIP): 5,369

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 (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 23% Lithuanian 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 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: ▼ -66.19%
• Current HPI: 144.0177
• 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

-98.0% since first listed

19 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-11 Price Changed — MRED as Distributed by MLS Grid
• 2026-02-01 Rental Removed $2,050 APPFOLIO
• 2026-01-19 Listed for Rent $2,050 APPFOLIO
• 2026-01-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-15 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-15 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-05-31 Sold (MLS) $91,000 RMLSA as Distributed by MLS Grid
• 2018-05-31 Sold (MLS) $91,000 MRED as Distributed by MLS Grid
• 2018-02-21 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2018-02-21 Listed $94,900 MRED as Distributed by MLS Grid
• 2006-08-30 Sold (MLS) $105,000 RMLSA as Distributed by MLS Grid
• 2006-07-02 Listed $105,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2024): $2,730 · +14.5% YoY. Source: county tax records.