540 Lombard St · Galesburg, IL 61401

$99,500

4 bd · 3.0 ba · 1,134 sqft · SingleFamily public records · 10 Days on market

Built 1920 5,280 sqft lot Est $81k · 24% over

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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 +23.7/30.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Four bedroom, three bath home located close to schools! Property could easily be upper and lower unit income property with front and back stairways. Detached one car garage with additional room attached. Newer windows, new sump pump, two furnaces and all appliances stay. Hardwood floors under the carpet. Lots of storage throughout and laundry in the basement. AS IS.

Key facts

• Lots of storage
• New sump pump
• Newer windows

Tags

• FRONT AND BACK STAIRWAYS
• DETACHED ONE CAR GARAGE
• NEWER WINDOWS
• NEW SUMP PUMP
• TWO FURNACES
• LOTS OF STORAGE

Property features AI

Exterior

• Parking: Detached paved garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1920
• Construction: Shingle roof; Full basement
• Exterior features: Level lot; Paved road access; Shingle roof

Interior

• Kitchen: Kitchen with vinyl flooring
• Bedrooms: 4 bedrooms (bedroom sizes include main-level and upper-level bedrooms; several have egress windows)
• Flooring: Carpet in many rooms (bedrooms, living and dining areas); Vinyl flooring in kitchen and an upstairs additional room
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating (multiple heating systems); Central air conditioning
• Interior features: Ceiling fan(s); Full basement
• Laundry & utility: Washer and dryer included; Refrigerator included

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.6% 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: 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 $688 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,500

Questions for the listing agent

1. Built in 1920 — 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: 1.01% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.16%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $80,514
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
376 Pine St	0.17mi	3/2.0 (-1)	1,162 (+2%)	4mo	$64,900	$56	76
584 E South St	0.44mi	4/1.0	1,158 (+2%)	6mo	$40,000	$35	63
859 Day St	0.32mi	3/1.0 (-1)	1,124 (-1%)	12mo	$87,000	$77	61
368 Oak St	0.28mi	3/1.5 (-1)	1,188 (+5%)	13mo	$95,000	$80	57
859 Mulberry St	0.40mi	3/1.0 (-1)	1,188 (+5%)	7mo	$35,000	$29	55
872 E 4th St	0.46mi	3/1.0 (-1)	1,170 (+3%)	8mo	$14,900	$13	54
941 E Knox St	0.12mi	3/1.0 (-1)	1,276 (+12%)	10mo	$90,000	$71	52
751 Mulberry St	0.45mi	3/1.0 (-1)	1,032 (-9%)	2mo	$45,000	$44	50
471 E 1st St	0.52mi	3/1.0 (-1)	1,200 (+6%)	5mo	$7,500	$6	49
148 Phillips St	0.62mi	3/1.5 (-1)	1,084 (-4%)	8mo	$87,500	$81	46
1662 E Main St	0.66mi	3/2.0 (-1)	1,260 (+11%)	1mo	$147,000	$117	41
84 Silver St	0.72mi	3/2.0 (-1)	1,032 (-9%)	4mo	$95,000	$92	39

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-4,089
• Equity at exit: $14,836

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $11,830
• Equity at exit: $8,603

Cash invested: $27,860 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$37 /mo · $446/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $190

Break-even live

Break-even rent $760

Max offer price $99,500

Occupancy floor 76%

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: $24,875
• Closing costs: $2,985
• 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	44d	1	0.94mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $99,500 Pending 10 DOM
2. 2026-06-12
   days on market $99,500 Active 9 DOM
3. 2026-06-09
   days on market $99,500 Active 6 DOM
4. 2026-06-08
   days on market $99,500 Active 5 DOM
5. 2026-06-07
   days on market $99,500 Active 4 DOM
6. 2026-06-07
   days on market $99,500 Active 3 DOM
7. 2026-06-04
   remarks 369-char remark
8. 2026-06-04
   listed $99,500 Active 1 DOM

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $446 · $37/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$906/yr (+$76/mo · 203.0%)

ⓘ 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: $12,000
• − Mortgage interest: −$5,574
• − Property taxes: −$446
• − Insurance: −$498
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,895
• Taxable income: $668
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $2,114/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

1 event — show timeline

• 2026-06-03 Listed $99,500 RMLSA as Distributed by MLS Grid

Property tax history

-8.7%/yr

Latest (2024): $446 · -4.3% YoY. Source: county tax records.