59 N Elm St · Galesburg, IL 61401

$58,000

1 bd · 2.0 ba · 960 sqft · SingleFamily public records · 9 Days on market

Built 1948 0.28 ac lot Est $61k · 6% under

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 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

In search of a small home for yourself? A place to flip or to add to your real estate portfolio? Then look no further than 59 N. Elm St!! Situated on a large corner lot complete with lots of perennials and mature trees, with a little TLC, this place could really be something special! A nice sized living room that flows into what could be a dining room greet you at the front door, both with newer luxury vinyl plank flooring. The bedroom has it's own private bath and there is a bonus room off the dining room that would make a great den or office. There is plenty of room in this kitchen for the person who loves to cook and bake, plus an additional bathroom and another small room close by with

Key facts

• Large corner lot
• 66 x 185 ft yard
• Private bath

Tags

• LARGE CORNER LOT
• MATURE TREES
• PRIVATE BATH
• BONUS ROOM
• COVERED PATIO
• 66 X 185 FT YARD

Property features AI

Exterior

• Parking: Carport; On-street parking; Gravel parking areas
• Utilities: Public sewer
• Home design: Single family residence; Built in 1948; One-story main living with upper, lower, basement and additional levels
• Construction: Shingle roof; Partial basement
• Exterior features: Corner, level lot; Paved road access

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 1 bedroom (main level)
• Flooring: Luxury vinyl plank in living, dining and kitchen areas; Carpet in bedroom and bonus rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Gas water heater
• Interior features: Cable available; High-speed internet; Partial, unfinished basement

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Cap rate 17.4% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $401 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,000

Questions for the listing agent

1. Built in 1948 — 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: 1.96% ✓
• Cap rate: 17.38%
• Cash-on-cash: 39.60%
• DSCR: 2.76
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $61,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 N Elm St	0.04mi	1/1.0	1,056 (+10%)	0mo	$39,000	$37	77
1961 Washington St	0.25mi	2/1.0 (+1)	952 (-1%)	9mo	$54,900	$58	70
100 Lake St	0.27mi	2/1.0 (+1)	860 (-10%)	8mo	$84,000	$98	54
95 Phillips St	0.66mi	2/1.0 (+1)	964 (+0%)	8mo	$55,000	$57	53
1397 Haynor St	0.69mi	2/1.0 (+1)	980 (+2%)	3mo	$71,000	$72	52
411 Arnold St	0.65mi	2/1.0 (+1)	964 (+0%)	11mo	$60,000	$62	50
179 Arnold St	0.58mi	2/1.0 (+1)	928 (-3%)	21mo	$124,500	$134	41
1298 Campbell Ave	0.73mi	2/2.0 (+1)	1,068 (+11%)	2mo	$107,000	$100	40
120 Arnold St	0.60mi	2/1.0 (+1)	1,014 (+6%)	21mo	$58,000	$57	36
85 Phillips St	0.66mi	2/1.0 (+1)	848 (-12%)	9mo	$54,000	$64	33
242 Division St	0.67mi	2/1.5 (+1)	864 (-10%)	21mo	$125,000	$145	27
1337 E North St	0.74mi	2/1.0 (+1)	834 (-13%)	17mo	$24,000	$29	21

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: 35.9%
• Equity multiple: 2.52×
• Total profit: $24,727
• Equity at exit: $8,648

10-year hold

• IRR: 42.6%
• Equity multiple: 5.03×
• Total profit: $65,457
• Equity at exit: $5,015

Cash invested: $16,240 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $536

Break-even live

Break-even rent $460

Max offer price $58,000

Occupancy floor 48%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $58,000 Active 9 DOM
2. 2026-06-17
   days on market $58,000 Active 8 DOM
3. 2026-06-16
   days on market $58,000 Active 7 DOM
4. 2026-06-15
   days on market $58,000 Active 6 DOM
5. 2026-06-13
   days on market $58,000 Active 4 DOM
6. 2026-06-12
   days on market $58,000 Active 3 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $58,000 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: $424 · $35/mo
• Projected year-2 tax: $870 · $73/mo
• Expected delta: +$446/yr (+$37/mo · 105.2%)

ⓘ 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: $13,664
• − Mortgage interest: −$3,249
• − Property taxes: −$424
• − Insurance: −$290
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$1,687
• Taxable income: $5,828
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $5,032/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

• 2026-06-09 Listed $58,000 RMLSA as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2025): $424 · +14.6% YoY. Source: county tax records.