1011 Lincoln St · Galesburg, IL 61401

$12,500

2 bd · 1.0 ba · 696 sqft · Other public records · 13 Days on market

Built 1896 5,250 sqft lot ↓ 55% 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

One-and-a-half story home with an open front porch, ideal for investors or buyers with vision and potential. Main level features a dining room open to the living room and kitchen, an eat-in kitchen, plus a main-floor bedroom and full bath. The upper level includes a bedroom with a common area that could be used as a den, office, or additional bedroom suite. Sale is strictly as-is, cash only, no survey and buyer to assume and comply with all village/city requirements, inspections, and any required repairs or violations.

Key facts

• Main-floor bedroom
• Dining room
• Full bath

Tags

• OPEN FRONT PORCH
• DINING ROOM
• EAT-IN KITCHEN
• COMMON AREA
• MAIN-FLOOR BEDROOM
• FULL BATH

Property features AI

Finance

• Other: Property age category: 100+ years; Built before 1978
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Owned fee simple; Home is over 100 years old; Not rebuilt or rehabilitated
• Construction: Frame construction
• Exterior features: Lot dimensions approximately 50 x 105; Lot smaller than 0.25 acre; Directions: Main St to Lincoln (N) to home

Interior

• Kitchen: Kitchen with eating area/table space (approx. 12 x 11)
• Bedrooms: Master bedroom on the main level (approx. 11 x 8); Second bedroom on the second level (approx. 12 x 10); Two additional bedrooms indicated
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Five total rooms; Cellar (full basement)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $12k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Cap rate 74.3% 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: 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 $86 of loan paydown is wiped out by about $375 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $12,500

Questions for the listing agent

1. Built in 1896 — 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. 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 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: 8.05% ✓
• Cap rate: 74.32%
• Cash-on-cash: 242.95%
• DSCR: 11.81
• GRM: 1.0

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: —
• Equity multiple: 13.32×
• Total profit: $43,120
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 28.35×
• Total profit: $95,723
• Equity at exit: $1,081

Cash invested: $3,500 (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: 1.0×

Monthly cashflow live

• Estimated rent: $1,006 medium
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $709

Break-even live

Break-even rent $109

Max offer price $12,500

Occupancy floor 25%

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $12,500 Active 13 DOM
2. 2026-06-17
   days on market $12,500 Active 12 DOM
3. 2026-06-16
   days on market $12,500 Active 11 DOM
4. 2026-06-15
   days on market $12,500 Active 10 DOM
5. 2026-06-13
   days on market $12,500 Active 8 DOM
6. 2026-06-12
   days on market $12,500 Active 7 DOM
7. 2026-06-09
   days on market $12,500 Active 4 DOM
8. 2026-06-08
   days on market $12,500 Active 3 DOM
9. 2026-06-07
   days on market $12,500 Active 2 DOM
10. 2026-06-07
    remarks 524-char remark
11. 2026-06-07
    listed $12,500 Active 1 DOM

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

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: $12,076
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$364
• Taxable income: $8,830
• Est. tax owed @ 24.0%: −$2,119
• After-tax cash flow: $6,384/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

-55.4% since first listed

12 events — show timeline

• 2026-06-05 Listed $12,500 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2017-10-31 Sold (MLS) $11,500 RMLSA as Distributed by MLS Grid
• 2017-09-14 Listed $11,500 RMLSA as Distributed by MLS Grid
• 2008-06-11 Sold (Public Records) $34,000 Public Records
• 2008-06-11 Sold (MLS) $34,000 RMLSA as Distributed by MLS Grid
• 2008-03-06 Listed $34,900 RMLSA as Distributed by MLS Grid
• 2005-09-30 Sold (MLS) $27,000 RMLSA as Distributed by MLS Grid
• 2005-05-03 Listed $29,900 RMLSA as Distributed by MLS Grid
• 1999-09-30 Sold (MLS) $26,000 RMLSA as Distributed by MLS Grid
• 1999-07-07 Listed $28,000 RMLSA as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $772 · +0.9% YoY. Source: county tax records.