801 Pine St · Galesburg, IL 61401

$14,000

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 143 Days on market

Built 1906 0.30 ac lot $21/sqft · 80% below area ↓ 30% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

2 bedroom, 1 bath. No guarantee on the working condition of an of the mechanicals. Room sizes are estimates. Sold as-is, seller will not be making any repairs, all inspections even lender required are for informational purposes only.

Key facts

• 0.3 acre lot
• Parking
• Built 1906

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $14k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($999 rent vs $14k).
• Recommended offer: $12k (12.0% below list) — sets the bar for market timing.
• Cap rate 63.6% 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: schools F, crime F, commute F.
• 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.
• Market conditions: 191 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $97 of loan paydown is wiped out by about $420 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $2k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $12,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 7.14% ✓
• Cap rate: 63.61%
• Cash-on-cash: 204.71%
• DSCR: 10.11
• GRM: 1.2

CMA / ARV

• ARV (median comp): $68,353
• List price: $14,000
• Delta: -79.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
664 E 4th St	0.35mi	2/1.5	660 (0%)	23mo	$56,000	$85	62
1056 E Knox St	0.17mi	2/1.0	708 (+7%)	23mo	$44,000	$62	61
633 E 5th St	0.43mi	2/1.0	722 (+9%)	6mo	$80,340	$111	60
1431 S Seminary St	0.71mi	2/1.0	720 (+9%)	7mo	$36,000	$50	46
1459 S Seminary St	0.73mi	2/1.0	720 (+9%)	21mo	$70,000	$97	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: —
• Equity multiple: 11.29×
• Total profit: $40,352
• Equity at exit: $2,087

10-year hold

• IRR: —
• Equity multiple: 23.98×
• Total profit: $90,101
• Equity at exit: $1,210

Cash invested: $3,920 (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: 1.2×

Monthly cashflow live

• Estimated rent: $999 medium
• Mortgage (P&I): −$73
• Tax from tax record: −$41 /mo · $497/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $669

Break-even live

Break-even rent $153

Max offer price $14,000

Occupancy floor 28%

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: $3,500
• Closing costs: $420
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $14,000 Active 143 DOM
2. 2026-06-17
   days on market $14,000 Active 142 DOM
3. 2026-06-16
   days on market $14,000 Active 141 DOM
4. 2026-06-15
   days on market $14,000 Active 140 DOM
5. 2026-06-13
   days on market $14,000 Active 138 DOM
6. 2026-06-12
   days on market $14,000 Active 137 DOM
7. 2026-06-09
   days on market $14,000 Active 134 DOM
8. 2026-06-08
   days on market $14,000 Active 133 DOM
9. 2026-06-07
   days on market $14,000 Active 132 DOM
10. 2026-06-07
    days on market $14,000 Active 131 DOM
11. 2026-06-04
    days on market $14,000 Active 128 DOM
12. 2026-06-02
    days on market $14,000 Active 127 DOM
13. 2026-06-01
    days on market $14,000 Active 126 DOM
14. 2026-05-31
    days on market $14,000 Active 125 DOM
15. 2026-05-31
    days on market $14,000 Active 124 DOM
16. 2026-02-26
    price $14,000 233-char remark

    Show marketing remark (233 chars)

    2 bedroom, 1 bath. No guarantee on the working condition of an of the mechanicals. Room sizes are estimates. Sold as-is, seller will not be making any repairs, all inspections even lender required are for informational purposes only.

17. 2026-01-25
    listed $16,000 Active 233-char remark

    Show marketing remark (233 chars)

    2 bedroom, 1 bath. No guarantee on the working condition of an of the mechanicals. Room sizes are estimates. Sold as-is, seller will not be making any repairs, all inspections even lender required are for informational purposes only.

18. 2022-12-09
    soldstatus $33,500
19. 2016-08-30
    soldstatus $22,000 340-char remark

    Show marketing remark (340 chars)

    Move right in to this 2-3 bedroom home with central air and recently updated carpet and paint. Home features main floor utility room with washer and dryer, eat-in kitchen, and room for two upstairs with large closet. Deck off of the kitchen overlooks the big backyard, perfect for outdoor summer fun. Potential 2nd bathroom in the basement.

20. 2016-05-31
    listed $25,900 340-char remark

    Show marketing remark (340 chars)

    Move right in to this 2-3 bedroom home with central air and recently updated carpet and paint. Home features main floor utility room with washer and dryer, eat-in kitchen, and room for two upstairs with large closet. Deck off of the kitchen overlooks the big backyard, perfect for outdoor summer fun. Potential 2nd bathroom in the basement.

21. 2002-07-25
    soldstatus $21,000
22. 2002-03-01
    listed $20,000

ⓘ 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: $497 · $41/mo
• Projected year-2 tax: $497 · $41/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 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: $11,991
• − Mortgage interest: −$784
• − Property taxes: −$497
• − Insurance: −$70
• − Repairs & maintenance: −$959
• − Management: −$959
• − Depreciation: −$407
• Taxable income: $8,314
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $6,029/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

-30.0% since first listed

7 events — show timeline

• 2026-02-26 Price Changed $14,000 MRED as Distributed by MLS Grid
• 2026-01-25 Listed $16,000 MRED as Distributed by MLS Grid
• 2022-12-09 Sold (Public Records) $33,500 Public Records
• 2016-08-30 Sold (MLS) $22,000 RMLSA as Distributed by MLS Grid
• 2016-05-31 Listed $25,900 RMLSA as Distributed by MLS Grid
• 2002-07-25 Sold (MLS) $21,000 RMLSA as Distributed by MLS Grid
• 2002-03-01 Listed $20,000 RMLSA as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2024): $497 · +1.5% YoY. Source: county tax records.