874 Frank St · Galesburg, IL 61401

$79,900

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 98 Days on market

Built 1949 8,481 sqft lot $89/sqft · 12% below area Est $104k · 24% under

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Nestled among mature landscaping and established perennials, this beautifully maintained 2 bedroom, 1 bath home offers effortless single level living with no steps throughout. A bright sunroom adds additional living space and the perfect place to unwind while overlooking the backyard. Step outside to the concrete patio, ideal for relaxing or hosting friends and family. The detached one car garage provides everyday convenience and extra storage. Designed for easy, low maintenance living, this home is ideally located just minutes from restaurants, shopping, and everyday amenities.

Key facts

• Single level living
• Concrete patio
• Mature landscaping

Tags

• SINGLE LEVEL LIVING
• BRIGHT SUNROOM
• CONCRETE PATIO
• DETACHED GARAGE
• LOW MAINTENANCE LIVING
• MATURE LANDSCAPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/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: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 Jr High School (math 13% / reading 27%); 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 $552 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.07%
• DSCR: 1.76
• GRM: 6.4

CMA / ARV

• ARV (median comp): $104,463
• List price: $79,900
• Delta: -23.51%
• 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
1064 Monroe St	0.15mi	2/1.0	936 (+4%)	5mo	$107,500	$115	83
1144 Court Street Court	0.25mi	2/1.0	936 (+4%)	6mo	$99,000	$106	76
874 Frank St	0.00mi	2/1.0	1,035 (+15%)	0mo	$79,000	$76	75
852 Maple Ave	0.32mi	2/1.0	861 (-4%)	6mo	$50,600	$59	73
972 Olive St	0.05mi	2/1.0	768 (-15%)	1mo	$85,000	$111	72
537 Franklin Ave	0.51mi	2/1.0	925 (+3%)	3mo	$125,000	$135	69
864 W Grove St	0.46mi	2/1.5	922 (+2%)	5mo	$92,000	$100	68
380 Maple Ave	0.58mi	2/1.0	880 (-2%)	6mo	$68,225	$78	64
717 Ruby St	0.48mi	3/1.0 (+1)	864 (-4%)	4mo	$121,000	$140	62
889 Jefferson St	0.26mi	2/1.0	1,028 (+14%)	4mo	$65,000	$63	61
484 Lawrence Ave	0.44mi	2/1.0	1,008 (+12%)	1mo	$45,000	$45	59
1501 Bridge Ave	0.52mi	2/1.0	1,035 (+15%)	6mo	$124,900	$121	46

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: 8.3%
• Equity multiple: 1.33×
• Total profit: $7,311
• Equity at exit: $11,913

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $32,421
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $318

Break-even live

Break-even rent $644

Max offer price $79,900

Occupancy floor 65%

Sensitivity live

Price	-10% $363	-5% $341	+0% $318	+5% $296	+10% $273
Rent	-10% $236	-5% $277	+0% $318	+5% $360	+10% $401
Rate	-1.0pp $358	-0.5pp $339	base $318	+0.5pp $298	+1.0pp $276

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $79,900 Under Contract 98 DOM
2. 2026-06-17
   days on market $79,900 Under Contract 97 DOM
3. 2026-06-16
   days on market $79,900 Under Contract 96 DOM
4. 2026-06-15
   days on market $79,900 Under Contract 95 DOM
5. 2026-06-13
   days on market $79,900 Under Contract 93 DOM
6. 2026-06-12
   days on market $79,900 Under Contract 92 DOM
7. 2026-06-09
   days on market $79,900 Under Contract 89 DOM
8. 2026-06-08
   days on market $79,900 Under Contract 88 DOM
9. 2026-06-07
   days on market $79,900 Under Contract 87 DOM
10. 2026-06-07
    days on market $79,900 Under Contract 86 DOM
11. 2026-06-04
    days on market $79,900 Under Contract 83 DOM
12. 2026-06-02
    days on market $79,900 Under Contract 82 DOM
13. 2026-06-01
    days on market $79,900 Under Contract 81 DOM
14. 2026-05-31
    days on market $79,900 Under Contract 80 DOM
15. 2026-05-31
    days on market $79,900 Under Contract 79 DOM
16. 2026-04-29
    price $79,900 585-char remark

    Show marketing remark (585 chars)

    Nestled among mature landscaping and established perennials, this beautifully maintained 2 bedroom, 1 bath home offers effortless single level living with no steps throughout. A bright sunroom adds additional living space and the perfect place to unwind while overlooking the backyard. Step outside to the concrete patio, ideal for relaxing or hosting friends and family. The detached one car garage provides everyday convenience and extra storage. Designed for easy, low maintenance living, this home is ideally located just minutes from restaurants, shopping, and everyday amenities.

17. 2026-03-27
    status Active 585-char remark

    Show marketing remark (585 chars)

    Nestled among mature landscaping and established perennials, this beautifully maintained 2 bedroom, 1 bath home offers effortless single level living with no steps throughout. A bright sunroom adds additional living space and the perfect place to unwind while overlooking the backyard. Step outside to the concrete patio, ideal for relaxing or hosting friends and family. The detached one car garage provides everyday convenience and extra storage. Designed for easy, low maintenance living, this home is ideally located just minutes from restaurants, shopping, and everyday amenities.

18. 2026-03-16
    historical Under Contract 585-char remark

    Show marketing remark (585 chars)

    Nestled among mature landscaping and established perennials, this beautifully maintained 2 bedroom, 1 bath home offers effortless single level living with no steps throughout. A bright sunroom adds additional living space and the perfect place to unwind while overlooking the backyard. Step outside to the concrete patio, ideal for relaxing or hosting friends and family. The detached one car garage provides everyday convenience and extra storage. Designed for easy, low maintenance living, this home is ideally located just minutes from restaurants, shopping, and everyday amenities.

19. 2026-03-12
    listed $85,000 Active 585-char remark

    Show marketing remark (585 chars)

    Nestled among mature landscaping and established perennials, this beautifully maintained 2 bedroom, 1 bath home offers effortless single level living with no steps throughout. A bright sunroom adds additional living space and the perfect place to unwind while overlooking the backyard. Step outside to the concrete patio, ideal for relaxing or hosting friends and family. The detached one car garage provides everyday convenience and extra storage. Designed for easy, low maintenance living, this home is ideally located just minutes from restaurants, shopping, and everyday amenities.

20. 2020-07-02
    soldstatus $58,000 384-char remark

    Show marketing remark (384 chars)

    This darling 2 bedroom 1 bathroom home awaits your personal touches. Convenient main floor living with an eat in kitchen, a sun room, newer roof, siding, newer HVAC and some newer carpet. Properly placed on a sufficient fenced in lot with a patio and a 2 car garage close to schools, restaurants and shopping. Don't miss out on this great investment. Schedule a private showing today!

21. 2020-07-02
    soldstatus $58,000

    Show marketing remark (384 chars)

    This darling 2 bedroom 1 bathroom home awaits your personal touches. Convenient main floor living with an eat in kitchen, a sun room, newer roof, siding, newer HVAC and some newer carpet. Properly placed on a sufficient fenced in lot with a patio and a 2 car garage close to schools, restaurants and shopping. Don't miss out on this great investment. Schedule a private showing today!

22. 2020-05-26
    listed $64,900 384-char remark

    Show marketing remark (384 chars)

    This darling 2 bedroom 1 bathroom home awaits your personal touches. Convenient main floor living with an eat in kitchen, a sun room, newer roof, siding, newer HVAC and some newer carpet. Properly placed on a sufficient fenced in lot with a patio and a 2 car garage close to schools, restaurants and shopping. Don't miss out on this great investment. Schedule a private showing today!

23. 2008-10-30
    soldstatus $55,000
24. 2008-10-30
    soldstatus $55,000
25. 2008-06-19
    listed $59,900
26. 2006-10-17
    soldstatus $34,666
27. 2005-11-23
    soldstatus $29,000

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$569/yr (+$47/mo · 84.1%)

ⓘ 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: $12,561
• − Mortgage interest: −$4,476
• − Property taxes: −$676
• − Insurance: −$400
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$2,324
• Taxable income: $2,675
• Est. tax owed @ 24.0%: −$642
• After-tax cash flow: $3,177/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

+175.5% since first listed

12 events — show timeline

• 2026-04-29 Price Changed $79,900 RMLSA as Distributed by MLS Grid
• 2026-03-27 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-16 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-12 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2020-07-02 Sold (Public Records) $58,000 Public Records
• 2020-07-02 Sold (MLS) $58,000 RMLSA as Distributed by MLS Grid
• 2020-05-26 Listed $64,900 RMLSA as Distributed by MLS Grid
• 2008-10-30 Sold (Public Records) $55,000 Public Records
• 2008-10-30 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2008-06-19 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2006-10-17 Sold (Public Records) $34,666 Public Records
• 2005-11-23 Sold (Public Records) $29,000 Public Records

Property tax history

+0.2%/yr

Latest (2024): $676 · -4.3% YoY. Source: county tax records.