1384 Clark St · Galesburg, IL 61401

$81,900

2 bd · 2.0 ba · 924 sqft · SingleFamily · 35 Days on market

Built 1928 7,900 sqft lot Est $78k · 6% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +5.0/15.0
• 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

Full fenced lovely backyard, 16x26 wood deck with Patio doors opening from kitchen, 3/4 bath and laundry in basement with 2 additional rooms that could be used as bedrooms or bdrm & family room. Updated paint and flooring throughout. Comes with 1 year home warranty!!

Key facts

• Covered front porch
• Back deck
• 7,900 sq ft lot

Tags

• COVERED FRONT PORCH
• BACK DECK
• EXPANSIVE FENCED BACKYARD
• DETACHED ONE CAR GARAGE

Property features AI

Exterior

• Parking: Detached paved garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1928
• Construction: Built in 1928
• Exterior features: Level lot; Paved road frontage; Shingle roof

Interior

• Kitchen: Kitchen on the main level (vinyl flooring)
• Bedrooms: Two bedrooms — one on the main level (approx. 11.03' x 16.08') and one in the basement (approx. 16.1' x 8.05')
• Flooring: Laminate flooring in main-level bedroom, basement bedroom, and living areas; Vinyl flooring in the kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Gas water heater
• Interior features: Full, partially finished basement; No fireplaces reported

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $79k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 198 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $566 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 $23k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $56k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,443 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1928 — 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: 1.32% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.77%
• DSCR: 1.61
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $77,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1064 Monroe St	0.37mi	2/1.0	936 (+1%)	5mo	$107,500	$115	72
1395 Clark St	0.03mi	2/1.0	1,008 (+9%)	9mo	$91,238	$91	72
1095 N West St	0.33mi	3/2.0 (+1)	896 (-3%)	8mo	$88,000	$98	68
1421 Jefferson St	0.13mi	2/1.0	888 (-4%)	20mo	$39,000	$44	67
1144 Court Street Court	0.65mi	2/1.0	936 (+1%)	6mo	$99,000	$106	58
852 Maple Ave	0.50mi	2/1.0	861 (-7%)	6mo	$50,600	$59	56
874 Frank St	0.51mi	2/1.0	1,035 (+12%)	0mo	$79,000	$76	52
889 Jefferson St	0.48mi	2/1.0	1,028 (+11%)	4mo	$65,000	$63	51
849 Frank St	0.48mi	3/1.0 (+1)	864 (-6%)	8mo	$69,900	$81	51
696 Olive St	0.72mi	2/1.0	936 (+1%)	12mo	$82,500	$88	50
44 Osage St	0.67mi	2/1.0	1,021 (+10%)	11mo	$86,000	$84	38
52 W Losey St	0.74mi	2/1.0	811 (-12%)	9mo	$48,000	$59	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: 4.0%
• Equity multiple: 1.15×
• Total profit: $3,524
• Equity at exit: $12,212

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $24,782
• Equity at exit: $7,081

Cash invested: $22,932 (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: 198
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$429
• Tax from tax record: −$127 /mo · $1,520/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $263

Break-even live

Break-even rent $747

Max offer price $81,900

Occupancy floor 71%

Sensitivity live

Price	-10% $310	-5% $286	+0% $263	+5% $240	+10% $217
Rent	-10% $178	-5% $221	+0% $263	+5% $306	+10% $349
Rate	-1.0pp $304	-0.5pp $284	base $263	+0.5pp $242	+1.0pp $220

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: $20,475
• Closing costs: $2,457
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $81,900 Under Contract 35 DOM
2. 2026-06-18
   days on market $81,900 Under Contract 33 DOM
3. 2026-06-17
   days on market $81,900 Under Contract 32 DOM
4. 2026-06-16
   days on market $81,900 Under Contract 31 DOM
5. 2026-06-15
   days on market $81,900 Under Contract 30 DOM
6. 2026-06-13
   days on market $81,900 Under Contract 28 DOM
7. 2026-06-12
   days on market $81,900 Under Contract 27 DOM
8. 2026-06-09
   days on market $81,900 Under Contract 24 DOM
9. 2026-06-08
   days on market $81,900 Under Contract 23 DOM
10. 2026-06-07
    days on market $81,900 Under Contract 22 DOM
11. 2026-06-07
    days on market $81,900 Under Contract 21 DOM
12. 2026-06-04
    days on market $81,900 Under Contract 18 DOM
13. 2026-06-02
    days on market $81,900 Under Contract 17 DOM
14. 2026-06-01
    days on market $81,900 Under Contract 16 DOM
15. 2026-05-31
    days on market $81,900 Under Contract 15 DOM
16. 2026-05-31
    days on market $81,900 Under Contract 14 DOM
17. 2026-05-16
    listed $81,900 Active
18. 2016-04-21
    soldstatus $55,500
19. 2016-04-19
    soldstatus $55,500 271-char remark

    Show marketing remark (271 chars)

    Full fenced lovely backyard, 16x26 wood deck with Patio doors opening from kitchen, 3/4 bath and laundry in basement with 2 additional rooms that could be used as bedrooms or bdrm & family room. Updated paint and flooring throughout. Comes with 1 year home warranty!!

20. 2015-08-18
    listed $59,900 271-char remark

    Show marketing remark (271 chars)

    Full fenced lovely backyard, 16x26 wood deck with Patio doors opening from kitchen, 3/4 bath and laundry in basement with 2 additional rooms that could be used as bedrooms or bdrm & family room. Updated paint and flooring throughout. Comes with 1 year home warranty!!

21. 2010-03-08
    soldstatus $52,500
22. 2010-03-05
    soldstatus $52,500 153-char remark

    Show marketing remark (153 chars)

    Very sharp bungalow in excellent condition. Must see to appreciate. Finished basement w/bedroom, family room, bath, and laundry. Lovely fenced back yard.

23. 2009-07-07
    listed $54,900 153-char remark

    Show marketing remark (153 chars)

    Very sharp bungalow in excellent condition. Must see to appreciate. Finished basement w/bedroom, family room, bath, and laundry. Lovely fenced back yard.

ⓘ 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: $1,520 · $127/mo
• Projected year-2 tax: $1,689 · $141/mo
• Expected delta: +$170/yr (+$14/mo · 11.2%)

ⓘ 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 0% 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: $12,964
• − Mortgage interest: −$4,588
• − Property taxes: −$1,520
• − Insurance: −$410
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$2,383
• Taxable income: $1,990
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,681/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

7 events — show timeline

• 2026-05-16 Listed $81,900 RMLSA as Distributed by MLS Grid
• 2016-04-21 Sold (Public Records) $55,500 Public Records
• 2016-04-19 Sold (MLS) $55,500 RMLSA as Distributed by MLS Grid
• 2015-08-18 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2010-03-08 Sold (Public Records) $52,500 Public Records
• 2010-03-05 Sold (MLS) $52,500 RMLSA as Distributed by MLS Grid
• 2009-07-07 Listed $54,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2024): $1,520 · +3.0% YoY. Source: county tax records.