1428 Brown Ave · Galesburg, IL 61401

$80,000

3 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 16 Days on market

Built 1950 6,534 sqft lot $79/sqft · 11% below area Est $90k · 11% under

---

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 +26.1/30.0
• ARV discount +12.6/15.0
• DSCR +8.8/10.0
• 1% rule +7.5/10.0
• 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

Experience the ease of single-story living in this charming 3-bedroom, 1-bathroom Galesburg ranch. Perfectly situated for those who value both comfort and functionality, this home welcomes you with a layout designed to simplify your daily routine. The heart of the home features a spacious eat-in kitchen, offering a warm and inviting atmosphere for everything from quick morning breakfasts to relaxed evening meals. One of the standout features is the highly sought-after main floor laundry, providing ultimate convenience by keeping your chores on the primary living level. Outside, the property includes a sturdy 1.5-stall garage, offering the perfect amount of extra width for a vehicle plus add

Key facts

• Single-story living
• Main floor laundry
• 1.5-stall garage

Tags

• SINGLE-STORY LIVING
• SPACIOUS EAT-IN KITCHEN
• MAIN FLOOR LAUNDRY
• 1.5-STALL GARAGE
• UNFINISHED PARTIAL BASEMENT

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Detached garage (about 1.5 car capacity)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 1016
• Construction: Built in 1950
• Exterior features: Level lot; Paved road access; Shingle roof

Interior

• Kitchen: Kitchen on main level; Refrigerator
• Bedrooms: Three bedrooms; Bedroom 1 (Main level) — approx. 16.03 x 13.01, carpeted, has egress window; Bedroom 2 (Main level) — approx. 9.1 x 8.04, carpeted, has egress window; Bedroom 3 (Main level) — approx. 10.11 x 8.1, carpeted, has egress window
• Flooring: Carpet in living areas and bedrooms; Vinyl in laundry
• Bathrooms: One full bathroom
• Heating & cooling: Window unit(s) for heating/cooling
• Interior features: Refrigerator included; Partial, unfinished basement; Egress windows in some rooms; No fireplaces
• Laundry & utility: Main-level laundry room (vinyl flooring, approx. 5.02 x 2.03)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.25% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 6.7

CMA / ARV

• ARV (median comp): $90,237
• List price: $80,000
• Delta: -11.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 Brown Ave	0.00mi	3/1.0	1,016 (0%)	0mo	$64,500	$63	100
1064 Johnston St	0.32mi	3/1.0	1,048 (+3%)	1mo	$126,000	$120	79
1471 Russell Ave	0.40mi	3/1.0	1,065 (+5%)	1mo	$87,500	$82	72
1490 Meadow Dr	0.43mi	3/1.0	1,065 (+5%)	2mo	$103,000	$97	70
1480 Russell Ave	0.38mi	3/1.0	925 (-9%)	1mo	$112,000	$121	66
1479 Meadow Dr	0.45mi	3/1.0	925 (-9%)	2mo	$105,000	$114	62
1416 N Kellogg St	0.51mi	2/1.5 (-1)	1,080 (+6%)	1mo	$123,000	$114	58
845 E Losey St	0.68mi	2/2.0 (-1)	1,003 (-1%)	1mo	$123,900	$124	56
784 Florence Ave	0.58mi	2/1.0 (-1)	944 (-7%)	6mo	$138,000	$146	51
1212 Klein Ave	0.51mi	3/1.0	1,164 (+15%)	1mo	$130,000	$112	51
712 Beecher Ave	0.65mi	3/1.0	1,110 (+9%)	4mo	$48,000	$43	51
1215 E Losey St	0.74mi	3/1.5	1,152 (+13%)	6mo	$116,000	$101	36

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-141
• Equity at exit: $11,928

10-year hold

• IRR: 9.5%
• Equity multiple: 1.74×
• Total profit: $16,492
• Equity at exit: $6,917

Cash invested: $22,400 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $201

Break-even live

Break-even rent $746

Max offer price $80,000

Occupancy floor 75%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1156 E Losey St Galesburg, IL	3.0	1.0	1500	$1,000	$0.67	43d	1	0.76mi

Listing history 4 events

1. 2026-05-13
   listed $1,200
2. 2026-05-09
   status Pending 1102-char remark
3. 2026-04-22
   listed $80,000 Active 1102-char remark
4. 2022-10-31
   soldstatus $54,500

ⓘ 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: $1,637 · $136/mo
• Projected year-2 tax: $1,726 · $144/mo
• Expected delta: +$90/yr (+$7/mo · 5.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,000
• − Mortgage interest: −$4,481
• − Property taxes: −$1,637
• − Insurance: −$400
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,327
• Taxable income: $1,235
• Est. tax owed @ 24.0%: −$296
• After-tax cash flow: $2,113/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

+18.3% since first listed

4 events — show timeline

• 2026-06-12 Sold (MLS) $64,500 RMLSA as Distributed by MLS Grid
• 2026-05-09 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-22 Listed $80,000 RMLSA as Distributed by MLS Grid
• 2022-10-31 Sold (Public Records) $54,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,637 · -0.2% YoY. Source: county tax records.