1722 Harrison St · Galesburg, IL 61401

$75,000

2 bd · 1.0 ba · 725 sqft · Other public records · 54 Days on market

Built 1954 $103/sqft · 7% above area Est $70k · 7% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +4.3/15.0
• 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 MLS

Charming Ranch with Simple Living in Galesburg This cozy 2-bedroom, 1-bath ranch offers easy, low-maintenance living in a convenient Galesburg location. With a functional layout and just the right amount of space, this home is ideal for someone looking to simplify without sacrificing comfort. The eat-in kitchen provides a welcoming space for everyday meals, while the living area offers a comfortable place to relax and unwind. The home sits on a level lot with a detached garage, giving you additional storage and flexibility for parking or hobbies. This property is designed for straightforward upkeep. Located close to local amenities, shopping, and dining, it offers both convenience and practicality. Whether you’re looking for a place to call home or a manageable space to make your own, this Galesburg ranch is worth a look.

Key facts

• 2 garage spots
• Built 1954
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: 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: 191 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 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 $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $75k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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 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: 1.39% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 6.0

CMA / ARV

• ARV (median comp): $70,005
• List price: $75,000
• Delta: 7.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $5,825
• Equity at exit: $11,183

10-year hold

• IRR: 16.4%
• Equity multiple: 2.35×
• Total profit: $28,310
• Equity at exit: $6,485

Cash invested: $21,000 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,046 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $282

Break-even live

Break-even rent $689

Max offer price $75,000

Occupancy floor 68%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 54 DOM
2. 2026-06-17
   days on market $75,000 Active 53 DOM
3. 2026-06-16
   days on market $75,000 Active 52 DOM
4. 2026-06-15
   days on market $75,000 Active 51 DOM
5. 2026-06-13
   days on market $75,000 Active 49 DOM
6. 2026-06-12
   days on market $75,000 Active 48 DOM
7. 2026-06-09
   days on market $75,000 Active 45 DOM
8. 2026-06-08
   days on market $75,000 Active 44 DOM
9. 2026-06-07
   days on market $75,000 Active 43 DOM
10. 2026-06-07
    days on market $75,000 Active 42 DOM
11. 2026-06-04
    days on market $75,000 Active 39 DOM
12. 2026-06-03
    status $75,000 Active 38 DOM
13. 2026-05-14
    price $75,000 843-char remark

    Show marketing remark (843 chars)

    Charming Ranch with Simple Living in Galesburg This cozy 2-bedroom, 1-bath ranch offers easy, low-maintenance living in a convenient Galesburg location. With a functional layout and just the right amount of space, this home is ideal for someone looking to simplify without sacrificing comfort. The eat-in kitchen provides a welcoming space for everyday meals, while the living area offers a comfortable place to relax and unwind. The home sits on a level lot with a detached garage, giving you additional storage and flexibility for parking or hobbies. This property is designed for straightforward upkeep. Located close to local amenities, shopping, and dining, it offers both convenience and practicality. Whether you’re looking for a place to call home or a manageable space to make your own, this Galesburg ranch is worth a look.

14. 2026-04-15
    listed $100,000 Active 843-char remark

    Show marketing remark (843 chars)

    Charming Ranch with Simple Living in Galesburg This cozy 2-bedroom, 1-bath ranch offers easy, low-maintenance living in a convenient Galesburg location. With a functional layout and just the right amount of space, this home is ideal for someone looking to simplify without sacrificing comfort. The eat-in kitchen provides a welcoming space for everyday meals, while the living area offers a comfortable place to relax and unwind. The home sits on a level lot with a detached garage, giving you additional storage and flexibility for parking or hobbies. This property is designed for straightforward upkeep. Located close to local amenities, shopping, and dining, it offers both convenience and practicality. Whether you’re looking for a place to call home or a manageable space to make your own, this Galesburg ranch is worth a look.

15. 2026-04-13
    historical $100,000 843-char remark

    Show marketing remark (843 chars)

    Charming Ranch with Simple Living in Galesburg This cozy 2-bedroom, 1-bath ranch offers easy, low-maintenance living in a convenient Galesburg location. With a functional layout and just the right amount of space, this home is ideal for someone looking to simplify without sacrificing comfort. The eat-in kitchen provides a welcoming space for everyday meals, while the living area offers a comfortable place to relax and unwind. The home sits on a level lot with a detached garage, giving you additional storage and flexibility for parking or hobbies. This property is designed for straightforward upkeep. Located close to local amenities, shopping, and dining, it offers both convenience and practicality. Whether you’re looking for a place to call home or a manageable space to make your own, this Galesburg ranch is worth a look.

16. 2025-06-20
    soldstatus $41,500
17. 2025-06-13
    soldstatus $41,500 Closed
18. 2025-06-05
    historical
19. 2025-06-05
    listed $41,500
20. 2008-09-29
    soldstatus $51,500
21. 2004-07-13
    soldstatus $37,900
22. 2004-01-22
    listed $37,900

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,570 · $131/mo
• Expected delta: +$132/yr (+$11/mo · 9.2%)

ⓘ 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 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: $12,549
• − Mortgage interest: −$4,201
• − Property taxes: −$1,438
• − Insurance: −$375
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$2,182
• Taxable income: $2,345
• Est. tax owed @ 24.0%: −$563
• After-tax cash flow: $2,818/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

+97.9% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $75,000 RMLSA as Distributed by MLS Grid
• 2026-04-15 Listed $100,000 RMLSA as Distributed by MLS Grid
• 2026-04-13 Coming Soon $100,000 RMLSA as Distributed by MLS Grid
• 2025-06-20 Sold (Public Records) $41,500 Public Records
• 2025-06-13 Sold (MLS) $41,500 RMLSA as Distributed by MLS Grid
• 2025-06-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-06-05 Listed $41,500 RMLSA as Distributed by MLS Grid
• 2008-09-29 Sold (Public Records) $51,500 Public Records
• 2004-07-13 Sold (MLS) $37,900 RMLSA as Distributed by MLS Grid
• 2004-01-22 Listed $37,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2024): $1,438 · +1.0% YoY. Source: county tax records.