944 S Iowa St #2 · Geneseo, IL 61254

$219,900

2 bd · 1.5 ba · 1,271 sqft · Condo · 10 Days on market

Built 1987 Good condition $200/mo HOA · 9% of rent

---

Why this score? — see what drove the D 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 +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

Key facts

• $200 HOA
• 2 garage spots
• Built 1987

Property features AI

Finance

• Other: Part of a 3-unit building; Living area reported from assessor
• HOA & community: Monthly association fee of $200; Association covers insurance, exterior maintenance, lawn care, and snow removal; Pets allowed (cats and dogs) with a size limit (max ~25 lbs)

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Concrete driveway/parking; 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Attached single-family condo; Entry level: 1; Fee simple ownership with homeowners association; Disability access equipped; Interstate access nearby
• Construction: Built approximately 31–40 years ago; Vinyl siding, brick, and plaster exterior; Concrete perimeter foundation
• Exterior features: Patio; Lot on a cul-de-sac; Level lot

Interior

• Kitchen: Updated kitchen; Range / Electric oven; Microwave; Dishwasher; High-end refrigerator; Stainless steel appliances
• Bedrooms: Master bedroom on main level (12 x 17) with half bath; Second bedroom on main level (11 x 11); Additional bedrooms listed (2 total bedrooms)
• Flooring: Hardwood in main living areas and kitchen; Laminate flooring; Carpet in bedrooms
• Bathrooms: One full bathroom; One half bathroom; Accessible shower, no tub
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Storage; Walk-in closet(s); Open floorplan; Dining area combined with living room; Storm door(s); Window treatments and drapes; 5 total rooms
• Laundry & utility: Main level laundry; Washer hookup and electric dryer hookup; Washer and dryer included; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $9 ($111/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (0.5% below list).
• Recommended offer: $219k (0.5% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Millikin Elem School (math 27% / reading 27%, grade F, #749 of 2,056 statewide, top 40%, 368 students, 0% FRL); Geneseo Middle School (math 15% / reading 20%, grade F, #450 of 665 statewide, top 69%, 591 students, 0% FRL); Geneseo High School (math 32% / reading 42%, grade F, #107 of 693 statewide, top 17%, 809 students, 0% FRL) — zoned schools average 0% FRL vs 18% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 73 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 $2k of loan paydown is wiped out by about $7k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $175k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $218,856 (0.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-34,886
• Equity at exit: $32,788

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-28,983
• Equity at exit: $19,013

Cash invested: $61,572 (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 61254

• Home prices YoY: -32.0%
• Active inventory: 73
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,189 medium
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$200
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $9

Break-even live

Break-even rent $2,177

Max offer price $219,900

Occupancy floor 95%

Sensitivity live

Price	-10% $161	-5% $85	+0% $9	+5% $-67	+10% $-143
Rent	-10% $-164	-5% $-77	+0% $9	+5% $96	+10% $182
Rate	-1.0pp $120	-0.5pp $65	base $9	+0.5pp $-48	+1.0pp $-106

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-20
   status Pending
2. 2026-04-10
   listed $219,900 Active
3. 2024-07-26
   soldstatus $175,000 Closed 966-char remark

   Show marketing remark (966 chars)

   This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

4. 2024-07-26
   soldstatus $175,000 966-char remark

   Show marketing remark (966 chars)

   This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

5. 2024-06-18
   status Pending 966-char remark

   Show marketing remark (966 chars)

   This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

6. 2024-06-14
   listed $175,000 Active 966-char remark

   Show marketing remark (966 chars)

   This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

7. 2024-06-14
   listed $175,000 966-char remark

   Show marketing remark (966 chars)

   This Geneseo condo is a charming two bedroom, two bath home of all brick exterior. The property features a spacious 2 car garage which offers ample storage. Situated in a quiet cul-de-sac, the condo provides peaceful living. Inside, everything is conveniently located on the main level with easy accessibility. The heart of the home starts with the efficient kitchen with breakfast bar and oak cabinets. The kitchen flows into the combined dining and living area which creates a large living space. The living room extends out to a patio offering a space for relaxation. The condo is built on a slab foundation as there is only 1 step you need to take. Recent improvements include: roof, 2 years old, new garage door and opener. Don't miss out on this opportunity to own this lovely condo, which has been well maintained. This is an "estate" and the seller is selling "AS-IS", no repairs. Buyer is welcome to have inspections for their knowledge.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,263
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − HOA: −$2,400
• − Depreciation: −$6,397
• Taxable loss: −$3,452
• Est. tax savings @ 24.0%: +$829
• After-tax cash flow: $940/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated two-bedroom condo is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and is durable
• Both Replace older appliances with energy-efficient models — Saves on energy costs and appeals to buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is durable ↑
• Both Replace older appliances with energy-efficient models — Saves on energy costs and appeals to buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 12,049

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 (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: English 9% Romanian 4% Portuguese 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -74.08%
• Current HPI: 157.4041
• 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

+25.7% since first listed

7 events — show timeline

• 2026-04-20 Pending — MRED as Distributed by MLS Grid
• 2026-04-10 Listed $219,900 MRED as Distributed by MLS Grid
• 2024-07-26 Sold (MLS) $175,000 MRED as Distributed by MLS Grid
• 2024-07-26 Sold (MLS) $175,000 RMLSA as Distributed by MLS Grid
• 2024-06-18 Pending — RMLSA as Distributed by MLS Grid
• 2024-06-14 Listed $175,000 MRED as Distributed by MLS Grid
• 2024-06-14 Listed $175,000 RMLSA as Distributed by MLS Grid