650 Monmouth Blvd · Galesburg, IL 61401

$16,500

3 bd · None ba · 728 sqft · Other public records · 71 Days on market

Built 1881 6,664 sqft lot ↓ 49% since listing

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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 MLS

Submit Offers via Auction dot com or via Listing Agent. Large 3 bedroom home w/ detached garage & partial basement in Galesburg, IL. Gorgeous homes surround this gem. Significant renovation opportunity for flippers or rental investors. Sold as-is. Conveniently located right off S Henderson St and just down the street from Knox College. (No taxes Due until 2026). Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" Please do your due diligence to verify all details. Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" No Survey or Keys Provided. Interior Access for Home Inspections Will Not Be Granted. Listing Information May Not Be Accurate. Buyers Must Do Their Own Due Diligence to Verify Number of Beds, Baths, Square Footage, Room Sizes, Lot Size & Any Other Property Details. Photos, Marketing Comments, and Due Diligence Items are Provided for Guidance Purposes Only. By Making an Offer on This Property, the Buyer Represents They Have Independently Verified All Information and Have Made the Decision to Make an Offer Based Upon Their Own Investigation.

Key facts

• Partial basement
• Conveniently located
• Detached garage

Tags

• DETACHED GARAGE
• PARTIAL BASEMENT
• RENOVATION OPPORTUNITY
• CONVENIENTLY LOCATED

🔨 Auction listing. The $16,500 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $66,386 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath other listed at $16k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $16k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 $459 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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.
• Current owner paid $12k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,510 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.66% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.65%
• DSCR: 2.32
• GRM: 5.0

CMA / ARV

• ARV (median comp): $66,386
• List price: $16,500
• Delta: -75.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.1%
• Equity multiple: 1.99×
• Total profit: $18,480
• Equity at exit: $9,898

10-year hold

• IRR: 32.0%
• Equity multiple: 3.89×
• Total profit: $53,707
• Equity at exit: $5,740

Cash invested: $18,588 (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: 1.2×

Monthly cashflow live

• Estimated rent: $1,104 medium
• Mortgage (P&I): −$348
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $459

Break-even live

Break-even rent $523

Max offer price $66,386

Occupancy floor 53%

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: $16,597
• Closing costs: $1,992
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $16,500 Active 71 DOM
2. 2026-06-17
   days on market $16,500 Active 70 DOM
3. 2026-06-16
   days on market $16,500 Active 69 DOM
4. 2026-06-15
   days on market $16,500 Active 68 DOM
5. 2026-06-13
   days on market $16,500 Active 66 DOM
6. 2026-06-12
   days on market $16,500 Active 65 DOM
7. 2026-06-09
   days on market $16,500 Active 62 DOM
8. 2026-06-08
   days on market $16,500 Active 61 DOM
9. 2026-06-07
   days on market $16,500 Active 60 DOM
10. 2026-06-07
    days on market $16,500 Active 59 DOM
11. 2026-06-04
    days on market $16,500 Active 56 DOM
12. 2026-06-02
    days on market $16,500 Active 55 DOM
13. 2026-06-01
    days on market $16,500 Active 54 DOM
14. 2026-05-31
    days on market $16,500 Active 53 DOM
15. 2026-05-31
    days on market $16,500 Active 52 DOM
16. 2026-04-08
    listed $16,500 Active 1350-char remark

    Show marketing remark (1350 chars)

    Submit Offers via Auction dot com or via Listing Agent. Large 3 bedroom home w/ detached garage & partial basement in Galesburg, IL. Gorgeous homes surround this gem. Significant renovation opportunity for flippers or rental investors. Sold as-is. Conveniently located right off S Henderson St and just down the street from Knox College. (No taxes Due until 2026). Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" Please do your due diligence to verify all details. Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" No Survey or Keys Provided. Interior Access for Home Inspections Will Not Be Granted. Listing Information May Not Be Accurate. Buyers Must Do Their Own Due Diligence to Verify Number of Beds, Baths, Square Footage, Room Sizes, Lot Size & Any Other Property Details. Photos, Marketing Comments, and Due Diligence Items are Provided for Guidance Purposes Only. By Making an Offer on This Property, the Buyer Represents They Have Independently Verified All Information and Have Made the Decision to Make an Offer Based Upon Their Own Investigation.

17. 2026-04-08
    historical

    Show marketing remark (1350 chars)

    Submit Offers via Auction dot com or via Listing Agent. Large 3 bedroom home w/ detached garage & partial basement in Galesburg, IL. Gorgeous homes surround this gem. Significant renovation opportunity for flippers or rental investors. Sold as-is. Conveniently located right off S Henderson St and just down the street from Knox College. (No taxes Due until 2026). Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" Please do your due diligence to verify all details. Exterior showing (curb viewing) only. NO inside showings available, no more inside pictures available. No contingencies will be accepted. Cash sale only. Sold "where is and as is" No Survey or Keys Provided. Interior Access for Home Inspections Will Not Be Granted. Listing Information May Not Be Accurate. Buyers Must Do Their Own Due Diligence to Verify Number of Beds, Baths, Square Footage, Room Sizes, Lot Size & Any Other Property Details. Photos, Marketing Comments, and Due Diligence Items are Provided for Guidance Purposes Only. By Making an Offer on This Property, the Buyer Represents They Have Independently Verified All Information and Have Made the Decision to Make an Offer Based Upon Their Own Investigation.

18. 2026-03-03
    status Active
19. 2026-02-09
    historical Contingent - Continue to Show
20. 2025-12-31
    listed Active
21. 2021-05-28
    soldstatus $12,000
22. 2020-11-18
    listed $14,900
23. 2001-02-05
    soldstatus $31,000
24. 2000-03-31
    listed $32,500

ⓘ 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: $447 · $37/mo
• Projected year-2 tax: $447 · $37/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 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,250
• − Mortgage interest: −$3,719
• − Property taxes: −$447
• − Insurance: −$332
• − Repairs & maintenance: −$1,060
• − Management: −$1,060
• − Depreciation: −$1,931
• Taxable income: $4,701
• Est. tax owed @ 24.0%: −$1,128
• After-tax cash flow: $4,383/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

-49.2% since first listed

9 events — show timeline

• 2026-04-08 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-08 Listed $16,500 MRED as Distributed by MLS Grid
• 2026-03-03 Relisted — MRED as Distributed by MLS Grid
• 2026-02-09 Contingent — MRED as Distributed by MLS Grid
• 2025-12-31 Listed — MRED as Distributed by MLS Grid
• 2021-05-28 Sold (MLS) $12,000 RMLSA as Distributed by MLS Grid
• 2020-11-18 Listed $14,900 RMLSA as Distributed by MLS Grid
• 2001-02-05 Sold (MLS) $31,000 RMLSA as Distributed by MLS Grid
• 2000-03-31 Listed $32,500 RMLSA as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2024): $447 · +0.7% YoY. Source: county tax records.