253 Day St · Galesburg, IL 61401

$78,900

2 bd · 1.0 ba · 716 sqft · SingleFamily public records · 13 Days on market

Built 1896 0.25 ac lot Est $54k · 45% 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 +28.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and thoughtfully updated, this 1.5-story home offers many modern upgrades. The exterior features newer vinyl siding, ensuring low-maintenance upkeep. Inside, the bright and functional kitchen boasts refurbished cabinets, recessed lighting, and comes fully equipped with a stove and refrigerator. The spacious main-floor bathroom includes a convenient laundry location. Recent improvements include many new windows, doors, a newer front porch and sidewalk. Major system updates such as new plumbing, a water heater, and a 100-amp electrical panel with wiring upgrades provide peace of mind. Ceiling fans are installed in the living room, dining room, and both bedrooms, enhancing comfort year-round. The home also offers excellent closet space in both bedrooms. Enjoy outdoor space with a large yard, perfect for relaxation or entertaining. Plus, the dry basement provides extra storage or potential for additional use. Don’t miss this move-in-ready home—schedule your showing today!

Key facts

• 0.25 acre lot
• Parking
• Built 1896

Property features AI

Exterior

• Parking: No garage; on-street parking and gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1896
• Construction: Shingle roof; Unfinished basement
• Exterior features: Level lot; Paved road access; Gravel and on-street parking

Interior

• Kitchen: Refrigerator
• Bedrooms: Two bedrooms (upper level)
• Flooring: Carpet in bedrooms, living and dining areas; Vinyl in kitchen; Tile in laundry
• Bathrooms: One full bathroom
• Heating & cooling: Central air; Forced air heating; Gas water heater
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Main-level laundry room (tile flooring, approx. 12 x 7)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Cap rate 10.0% 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: 191 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $545 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $21k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,900

Questions for the listing agent

1. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.39%
• DSCR: 1.60
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $54,416
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1056 E Knox St	0.33mi	2/1.0	708 (-1%)	23mo	$44,000	$62	64
1526 Grand Ave	0.53mi	2/1.0	792 (+11%)	9mo	$44,400	$56	50
1586 E North St	0.71mi	2/1.0	768 (+7%)	11mo	$25,000	$33	45
889 S Chambers St	0.62mi	2/1.0	804 (+12%)	9mo	$78,750	$98	43
695 S Pearl St	0.41mi	3/1.5 (+1)	816 (+14%)	9mo	$60,000	$74	43
208 Illinois Ave	0.69mi	2/1.0	672 (-6%)	22mo	$79,900	$119	39
409 Burgland Ave	0.63mi	2/1.0	816 (+14%)	14mo	$62,000	$76	36
664 E 4th St	0.70mi	2/1.5	660 (-8%)	23mo	$56,000	$85	33

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: 3.5%
• Equity multiple: 1.13×
• Total profit: $2,950
• Equity at exit: $11,764

10-year hold

• IRR: 13.0%
• Equity multiple: 2.04×
• Total profit: $22,933
• Equity at exit: $6,822

Cash invested: $22,092 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,046 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$133 /mo · $1,601/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $246

Break-even live

Break-even rent $734

Max offer price $78,900

Occupancy floor 71%

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $78,900 Under Contract 13 DOM
2. 2026-06-17
   days on market $78,900 Under Contract 12 DOM
3. 2026-06-16
   days on market $78,900 Under Contract 11 DOM
4. 2026-06-15
   days on market $78,900 Under Contract 10 DOM
5. 2026-06-13
   days on market $78,900 Under Contract 8 DOM
6. 2026-06-12
   days on market $78,900 Under Contract 7 DOM
7. 2026-06-09
   statusdays on market $78,900 Under Contract 4 DOM
8. 2026-06-08
   days on market $78,900 Active 3 DOM
9. 2026-06-07
   days on market $78,900 Active 2 DOM
10. 2026-06-07
    status $78,900 Active 1 DOM
11. 2026-06-04
    remarks 687-char remark
12. 2026-06-03
    remarks 647-char remark
13. 2026-06-03
    listed $78,900 Coming Soon 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: $1,601 · $133/mo
• Projected year-2 tax: $1,696 · $141/mo
• Expected delta: +$95/yr (+$8/mo · 6.0%)

ⓘ 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 100% 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: $12,554
• − Mortgage interest: −$4,420
• − Property taxes: −$1,601
• − Insurance: −$394
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$2,295
• Taxable income: $1,836
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $2,517/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

+267.0% since first listed

14 events — show timeline

• 2026-06-02 Coming Soon $78,900 RMLSA as Distributed by MLS Grid
• 2025-10-01 Sold (Public Records) $80,500 Public Records
• 2025-09-29 Sold (MLS) $80,500 RMLSA as Distributed by MLS Grid
• 2025-09-29 Sold (MLS) $80,500 MRED as Distributed by MLS Grid
• 2025-09-15 Pending — RMLSA as Distributed by MLS Grid
• 2025-05-08 Price Changed $89,900 RMLSA as Distributed by MLS Grid
• 2025-03-21 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2025-03-21 Listed $89,900 MRED as Distributed by MLS Grid
• 2022-01-14 Sold (Public Records) $69,000 Public Records
• 2022-01-14 Sold (MLS) $68,900 RMLSA as Distributed by MLS Grid
• 2021-10-28 Listed $66,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 1999-11-01 Sold (MLS) $17,500 RMLSA as Distributed by MLS Grid
• 1999-07-02 Listed $21,500 RMLSA as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2024): $1,601 · +2.9% YoY. Source: county tax records.