609 N 1st Ave · Canton, IL 61520

$89,950

3 bd · 1.0 ba · 672 sqft · Other public records · 58 Days on market

Built 1911 5,264 sqft lot $134/sqft · 92% above area Est $82k · 10% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.6/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bargain Sale Price! Only $9,900. Located on corner lot in Canton. Convenient location. Main floor has kitchen, living room, dining room with a built-in cabinet. Upper level has full bathroom, three bedrooms. Use your imagination for all your possibilities with this home. Home is being sold strictly as-is.

Key facts

• Covered front porch
• Enclosed back porch
• 5,264 sq ft lot

Tags

• COVERED FRONT PORCH
• ENCLOSED BACK PORCH
• FULL UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1911; Living area approximately 1,172
• Construction: Not new construction
• Exterior features: Corner, level lot; Shingle roof

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (two upper-level bedrooms approx. 11' x 11', one upper bedroom approx. 10' x 8'); Basement and additional levels present
• Flooring: Luxury vinyl plank flooring in main living areas and bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Full, unfinished basement
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 7.9% in Canton — 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 72/100 on livability (#318 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Canton Union SD 66 (town): math 19% / reading 23% proficiency, ranked #417 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Canton High School (math 22% / reading 27%, grade F, #256 of 693 statewide, top 44%, 641 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 108 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fulton County population projected at -20% 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $90k implies a 1099% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,251 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.33% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.95%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $81,584
• List price: $89,950
• Delta: 10.25%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.27×
• Total profit: $6,755
• Equity at exit: $13,412

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $33,385
• Equity at exit: $7,777

Cash invested: $25,186 (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 61520

• Active inventory: 108
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$104 /mo · $1,249/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $335

Break-even live

Break-even rent $776

Max offer price $89,950

Occupancy floor 67%

Sensitivity live

Price	-10% $386	-5% $360	+0% $335	+5% $309	+10% $284
Rent	-10% $240	-5% $287	+0% $335	+5% $382	+10% $430
Rate	-1.0pp $380	-0.5pp $358	base $335	+0.5pp $311	+1.0pp $288

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: $22,488
• Closing costs: $2,698
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
437 N 8th Ave Canton, IL	2.0	1.0	690	$1,200	$1.74	14d	1	0.52mi

Listing history 20 events

1. 2026-06-21
   days on market $89,950 Active 58 DOM
2. 2026-06-18
   days on market $89,950 Active 56 DOM
3. 2026-06-17
   days on market $89,950 Active 55 DOM
4. 2026-06-16
   days on market $89,950 Active 54 DOM
5. 2026-06-15
   days on market $89,950 Active 53 DOM
6. 2026-06-13
   days on market $89,950 Active 51 DOM
7. 2026-06-12
   days on market $89,950 Active 50 DOM
8. 2026-06-09
   days on market $89,950 Active 47 DOM
9. 2026-06-08
   days on market $89,950 Active 46 DOM
10. 2026-06-07
    days on market $89,950 Active 45 DOM
11. 2026-06-07
    days on market $89,950 Active 44 DOM
12. 2026-06-04
    days on market $89,950 Active 41 DOM
13. 2026-06-02
    days on market $89,950 Active 40 DOM
14. 2026-06-01
    days on market $89,950 Active 39 DOM
15. 2026-05-31
    days on market $89,950 Active 38 DOM
16. 2026-05-31
    days on market $89,950 Active 37 DOM
17. 2026-04-23
    listed $99,950 Active 759-char remark
18. 2022-10-31
    soldstatus $7,500 Closed 312-char remark

    Show marketing remark (312 chars)

    Bargain Sale Price! Only $9,900. Located on corner lot in Canton. Convenient location. Main floor has kitchen, living room, dining room with a built-in cabinet. Upper level has full bathroom, three bedrooms. Use your imagination for all your possibilities with this home. Home is being sold strictly as-is.

19. 2022-09-25
    status Pending 312-char remark

    Show marketing remark (312 chars)

    Bargain Sale Price! Only $9,900. Located on corner lot in Canton. Convenient location. Main floor has kitchen, living room, dining room with a built-in cabinet. Upper level has full bathroom, three bedrooms. Use your imagination for all your possibilities with this home. Home is being sold strictly as-is.

20. 2022-09-14
    listed $9,900 Active 312-char remark

    Show marketing remark (312 chars)

    Bargain Sale Price! Only $9,900. Located on corner lot in Canton. Convenient location. Main floor has kitchen, living room, dining room with a built-in cabinet. Upper level has full bathroom, three bedrooms. Use your imagination for all your possibilities with this home. Home is being sold strictly as-is.

ⓘ 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: $1,249 · $104/mo
• Projected year-2 tax: $1,646 · $137/mo
• Expected delta: +$396/yr (+$33/mo · 31.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 18 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$5,039
• − Property taxes: −$1,249
• − Insurance: −$450
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,617
• Taxable income: $2,742
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $3,359/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: Canton Union SD 66
• NCES district ID: 1708280
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $42,657
• Composite: 18.03/100
• National rank: #8980
• State rank: #417 of 620 in IL

Livability — Canton

• Score: 72/100
• State rank: #318
• US rank: #6313

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canton, IL
• Population (ZIP): 16,098

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 33,356 people
• By 2030: 32,144 · -3.6%
• By 2040: 29,518 · -11.5%
• By 2050: 26,775 · -19.7%
• By 2075: 19,972 · -40.1%
• By 2100: 13,580 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 4% Two or more races 4% Native American 1%
• Common ancestry: Slovak 3% Lithuanian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Fulton

• 2024 margin: Strong R (+23.8) · D 37.1% · R 60.9% · Other 2.0%
• 2008→2024 swing: -45.2pp toward R · 2008: 21.3pp · 2024: -23.8pp
• All cycles: 2024: R+23.8 2020: R+20.1 2016: R+15.1 2012: D+11.1 2008: D+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.00%
• Current HPI: 123.8086
• 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

+808.6% since first listed

5 events — show timeline

• 2026-05-27 Price Changed $89,950 RMLSA as Distributed by MLS Grid
• 2026-04-23 Listed $99,950 RMLSA as Distributed by MLS Grid
• 2022-10-31 Sold (MLS) $7,500 RMLSA as Distributed by MLS Grid
• 2022-09-25 Pending — RMLSA as Distributed by MLS Grid
• 2022-09-14 Listed $9,900 RMLSA as Distributed by MLS Grid

Property tax history

-1.0%/yr

Latest (2024): $1,249 · +1.7% YoY. Source: county tax records.