180 Morris Rd · Galatia, IL 62935

$70,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily · 76 Days on market

Built 1999 0.25 ac lot $51/sqft · 40% below area Est $116k · 40% under ↓ 12% since listing

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Why this score? — see what drove the A- 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
• Appreciation +8.3/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Harrisburg Lake Home on the Point. Fish from 3 sides of this property. 1 & 1/2 Story, 3 Bedrooms, 2 Baths. Pole Barn Garage and Work Area. Storage Building, Hot Tub, Deck. 1 Leased Lot. Lease for home & Buildings is $1,000/Year. Lease due on April 15th of each year. Lease Term is by the year... Sold "AS IS" See Lease By-Laws.

Key facts

• Fish from 3 sides
• Hot tub
• Pole barn garage

Tags

• HARRISBURG LAKE HOME
• FISH FROM 3 SIDES
• POLE BARN GARAGE
• HOT TUB
• DECK

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$116,386) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#460 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Galatia CUSD 1 (rural): math 21% / reading 34% proficiency, ranked #557 of 919 in IL (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($484 loan paydown + $5k appreciation (6.5% local appreciation)).
• Saline County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $4k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.70% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.58%
• DSCR: 2.09
• GRM: 4.9

CMA / ARV

• ARV (median comp): $116,386
• List price: $70,000
• Delta: -39.86%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

6.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 3.46×
• Total profit: $48,127
• Equity at exit: $46,450

10-year hold

• IRR: 34.0%
• Equity multiple: 7.18×
• Total profit: $121,114
• Equity at exit: $86,431

Cash invested: $19,600 (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 62935

• Home prices YoY: 5.1%
• Active inventory: 9
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $401

Break-even live

Break-even rent $681

Max offer price $70,000

Occupancy floor 61%

Sensitivity live

Price	-10% $441	-5% $421	+0% $401	+5% $382	+10% $362
Rent	-10% $308	-5% $354	+0% $401	+5% $448	+10% $495
Rate	-1.0pp $437	-0.5pp $419	base $401	+0.5pp $383	+1.0pp $365

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $70,000 Active 76 DOM
2. 2026-06-18
   days on market $70,000 Active 74 DOM
3. 2026-06-17
   days on market $70,000 Active 73 DOM
4. 2026-06-16
   days on market $70,000 Active 72 DOM
5. 2026-06-15
   days on market $70,000 Active 71 DOM
6. 2026-06-13
   days on market $70,000 Active 69 DOM
7. 2026-06-12
   days on market $70,000 Active 68 DOM
8. 2026-06-09
   days on market $70,000 Active 65 DOM
9. 2026-06-09
   status $70,000 Active 64 DOM
10. 2026-05-02
    status Pending 349-char remark

    Show marketing remark (349 chars)

    Harrisburg Lake Home on the Point. Fish from 3 sides of this property. 1 & 1/2 Story, 3 Bedrooms, 2 Baths. Pole Barn Garage and Work Area. Storage Building, Hot Tub, Deck. 1 Leased Lot. Lease for home & Buildings is $1,000/Year. Lease due on April 15th of each year. Lease Term is by the year... Sold "AS IS" See Lease By-Laws.

11. 2026-04-06
    price $70,000 349-char remark

    Show marketing remark (349 chars)

    Harrisburg Lake Home on the Point. Fish from 3 sides of this property. 1 & 1/2 Story, 3 Bedrooms, 2 Baths. Pole Barn Garage and Work Area. Storage Building, Hot Tub, Deck. 1 Leased Lot. Lease for home & Buildings is $1,000/Year. Lease due on April 15th of each year. Lease Term is by the year... Sold "AS IS" See Lease By-Laws.

12. 2026-02-26
    listed $74,000 Active 349-char remark

    Show marketing remark (349 chars)

    Harrisburg Lake Home on the Point. Fish from 3 sides of this property. 1 & 1/2 Story, 3 Bedrooms, 2 Baths. Pole Barn Garage and Work Area. Storage Building, Hot Tub, Deck. 1 Leased Lot. Lease for home & Buildings is $1,000/Year. Lease due on April 15th of each year. Lease Term is by the year... Sold "AS IS" See Lease By-Laws.

13. 2024-08-21
    soldstatus $55,000 541-char remark

    Show marketing remark (541 chars)

    Serenity at its best in this "Lake House on the Point... Water on 3 sides. Seller is Distressed. Selling AS IS with most personal property left. Piano does not pass. The Lots are leased from the city of Harrisburg. 3 year lease at $1,000 per year on Lot #1 (with the house) Lot #3 lease is $600/year (vacant) Must show city proof of insurance. NEW LEASEE must be approved by City Council. (NOTICE: DO NOT ENTER THE LAKE ON TELEPHONE ROAD. (Mapping systems will try to take you that way) Enter on Harrisburg Lake Road (All weather road)

14. 2024-08-21
    soldstatus $55,000 Closed 541-char remark

    Show marketing remark (541 chars)

    Serenity at its best in this "Lake House on the Point... Water on 3 sides. Seller is Distressed. Selling AS IS with most personal property left. Piano does not pass. The Lots are leased from the city of Harrisburg. 3 year lease at $1,000 per year on Lot #1 (with the house) Lot #3 lease is $600/year (vacant) Must show city proof of insurance. NEW LEASEE must be approved by City Council. (NOTICE: DO NOT ENTER THE LAKE ON TELEPHONE ROAD. (Mapping systems will try to take you that way) Enter on Harrisburg Lake Road (All weather road)

15. 2024-07-29
    status Pending 541-char remark

    Show marketing remark (541 chars)

    Serenity at its best in this "Lake House on the Point... Water on 3 sides. Seller is Distressed. Selling AS IS with most personal property left. Piano does not pass. The Lots are leased from the city of Harrisburg. 3 year lease at $1,000 per year on Lot #1 (with the house) Lot #3 lease is $600/year (vacant) Must show city proof of insurance. NEW LEASEE must be approved by City Council. (NOTICE: DO NOT ENTER THE LAKE ON TELEPHONE ROAD. (Mapping systems will try to take you that way) Enter on Harrisburg Lake Road (All weather road)

16. 2024-07-21
    listed $60,000 541-char remark

    Show marketing remark (541 chars)

    Serenity at its best in this "Lake House on the Point... Water on 3 sides. Seller is Distressed. Selling AS IS with most personal property left. Piano does not pass. The Lots are leased from the city of Harrisburg. 3 year lease at $1,000 per year on Lot #1 (with the house) Lot #3 lease is $600/year (vacant) Must show city proof of insurance. NEW LEASEE must be approved by City Council. (NOTICE: DO NOT ENTER THE LAKE ON TELEPHONE ROAD. (Mapping systems will try to take you that way) Enter on Harrisburg Lake Road (All weather road)

17. 2024-07-21
    listed $60,000 Active 541-char remark

    Show marketing remark (541 chars)

    Serenity at its best in this "Lake House on the Point... Water on 3 sides. Seller is Distressed. Selling AS IS with most personal property left. Piano does not pass. The Lots are leased from the city of Harrisburg. 3 year lease at $1,000 per year on Lot #1 (with the house) Lot #3 lease is $600/year (vacant) Must show city proof of insurance. NEW LEASEE must be approved by City Council. (NOTICE: DO NOT ENTER THE LAKE ON TELEPHONE ROAD. (Mapping systems will try to take you that way) Enter on Harrisburg Lake Road (All weather road)

18. 2011-01-18
    soldstatus $73,500
19. 2011-01-18
    soldstatus $73,500
20. 2010-08-02
    listed $79,500
21. 2010-08-02
    listed $79,500

ⓘ 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: $1,696 · $141/mo
• Projected year-2 tax: $1,696 · $141/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 4/10 Moderate 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,264
• − Mortgage interest: −$3,921
• − Property taxes: −$1,696
• − Insurance: −$350
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$2,036
• Taxable income: $3,978
• Est. tax owed @ 24.0%: −$955
• After-tax cash flow: $3,862/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: Galatia CUSD 1
• NCES district ID: 1716020
• Math proficiency: 21% ▲ 4.00%
• Reading proficiency: 34% ▲ 8.00%
• Median HH income: $43,648
• Composite: 26.43/100
• National rank: #12647
• State rank: #557 of 919 in IL

Livability — Galatia

• Score: 68/100
• State rank: #460
• US rank: #9547

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,246

Population outlook (Saline County) Hauer SSP2

• Today (2025): 23,915 people
• By 2030: 23,262 · -2.7%
• By 2040: 21,775 · -8.9%
• By 2050: 20,098 · -16.0%
• By 2075: 15,234 · -36.3%
• By 2100: 10,302 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 1%
• Common ancestry: Italian 3% Polish 3% Romanian 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+49.0) · D 24.8% · R 73.8% · Other 1.3%
• 2008→2024 swing: -40.1pp toward R · 2008: -8.9pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+47.9 2016: R+50.7 2012: R+29.0 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.55%
• Current HPI: 134.5157
• 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

-11.9% since first listed

12 events — show timeline

• 2026-05-02 Pending — MRED as Distributed by MLS Grid
• 2026-04-06 Price Changed $70,000 MRED as Distributed by MLS Grid
• 2026-02-26 Listed $74,000 MRED as Distributed by MLS Grid
• 2024-08-21 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2024-08-21 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2024-07-29 Pending — RMLSA as Distributed by MLS Grid
• 2024-07-21 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2024-07-21 Listed $60,000 MRED as Distributed by MLS Grid
• 2011-01-18 Sold (MLS) $73,500 RMLSA as Distributed by MLS Grid
• 2011-01-18 Sold (MLS) $73,500 MRED as Distributed by MLS Grid
• 2010-08-02 Listed $79,500 RMLSA as Distributed by MLS Grid
• 2010-08-02 Listed $79,500 MRED as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $1,696 · +9.3% YoY. Source: county tax records.