547 E South St · Galesburg, IL 61401

$49,900

3 bd · 2.0 ba · 812 sqft · SingleFamily public records · 18 Days on market

Built 1896 3,267 sqft lot Est $63k · 20% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

4 Bedrooms and 2 remodeled full baths on a budget! Newer vinyl floors throughout, spacious kitchen, fresh paint, many replacement windows, and much more! Get in and check this place out before it's gone!

Key facts

• 3,267 sq ft lot
• Parking
• Built 1896

Property features AI

Exterior

• Parking: No garage; paved parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1896
• Construction: Shingle roof; Total building area approximately 1098
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Kitchen present on the main level
• Bedrooms: Three bedrooms; two on the upper level and one on the main level; Upper-level bedrooms have egress windows
• Flooring: Vinyl flooring throughout main and upper living areas
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; No fireplace reported
• Laundry & utility: Basement space for utilities

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.4% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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 $34k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $49,151 (1.5% below list)

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: 2.19% ✓
• Cap rate: 19.41%
• Cash-on-cash: 46.85%
• DSCR: 3.08
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $62,524
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
695 S Pearl St	0.37mi	3/1.5	816 (+0%)	9mo	$60,000	$74	72
889 S Chambers St	0.51mi	2/1.0 (-1)	804 (-1%)	9mo	$78,750	$98	58
213 Day St	0.29mi	2/1.0 (-1)	864 (+6%)	16mo	$62,500	$72	54
840 E 4th St	0.67mi	2/1.0 (-1)	868 (+7%)	1mo	$84,900	$98	47
857 E 4th St	0.65mi	2/2.0 (-1)	912 (+12%)	3mo	$92,000	$101	42
85 Phillips St	0.74mi	2/1.0 (-1)	848 (+4%)	9mo	$54,000	$64	41
678 E Grove St	0.64mi	2/1.0 (-1)	840 (+3%)	17mo	$64,900	$77	41
256 Division St	0.71mi	3/1.0	864 (+6%)	20mo	$83,000	$96	35
540 S Whitesboro St	0.55mi	2/1.0 (-1)	896 (+10%)	16mo	$38,000	$42	34
242 Division St	0.72mi	2/1.5 (-1)	864 (+6%)	21mo	$125,000	$145	31
1056 E Knox St	0.49mi	2/1.0 (-1)	708 (-13%)	23mo	$44,000	$62	28

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: 44.2%
• Equity multiple: 2.91×
• Total profit: $26,656
• Equity at exit: $7,440

10-year hold

• IRR: 50.1%
• Equity multiple: 5.86×
• Total profit: $67,948
• Equity at exit: $4,314

Cash invested: $13,972 (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 61401

• Active inventory: 191
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,093 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $545

Break-even live

Break-even rent $402

Max offer price $49,900

Occupancy floor 45%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $49,900 Active 18 DOM
2. 2026-06-17
   days on market $49,900 Active 17 DOM
3. 2026-06-16
   days on market $49,900 Active 16 DOM
4. 2026-06-15
   days on market $49,900 Active 15 DOM
5. 2026-06-13
   days on market $49,900 Active 13 DOM
6. 2026-06-12
   days on market $49,900 Active 12 DOM
7. 2026-06-09
   days on market $49,900 Active 9 DOM
8. 2026-06-08
   days on market $49,900 Active 8 DOM
9. 2026-06-07
   days on market $49,900 Active 7 DOM
10. 2026-06-07
    days on market $49,900 Active 6 DOM
11. 2026-06-04
    days on market $49,900 Active 3 DOM
12. 2026-06-02
    days on market $49,900 Active 2 DOM
13. 2026-05-31
    remarks 532-char remark
14. 2026-05-31
    listed $49,900 Active 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: $424 · $35/mo
• Projected year-2 tax: $778 · $65/mo
• Expected delta: +$354/yr (+$30/mo · 83.6%)

ⓘ 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: $13,113
• − Mortgage interest: −$2,795
• − Property taxes: −$424
• − Insurance: −$250
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − Depreciation: −$1,452
• Taxable income: $6,095
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $5,083/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

+162.6% since first listed

14 events — show timeline

• 2026-05-31 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2023-03-02 Sold (MLS) $34,000 RMLSA as Distributed by MLS Grid
• 2023-02-12 Contingent — RMLSA as Distributed by MLS Grid
• 2023-01-27 Price Changed $36,000 RMLSA as Distributed by MLS Grid
• 2023-01-05 Relisted — RMLSA as Distributed by MLS Grid
• 2022-10-03 Contingent — RMLSA as Distributed by MLS Grid
• 2022-08-30 Relisted — RMLSA as Distributed by MLS Grid
• 2022-08-05 Contingent — RMLSA as Distributed by MLS Grid
• 2022-07-31 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2001-02-26 Sold (MLS) $15,200 RMLSA as Distributed by MLS Grid
• 2001-01-09 Listed $19,000 RMLSA as Distributed by MLS Grid

Property tax history

-2.6%/yr

Latest (2024): $424 · -4.3% YoY. Source: county tax records.