1320 N Main St · Canton, IL 61520

$219,000

6 bd · 5.1 ba · 4,800 sqft · MultiFamily · 39 Days on market

Built 1960 Fair condition 0.31 ac lot $46/sqft · 26% below area Est $296k · 26% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 unit apartment building - 4,800 square feet. Two of the units are 2 bedroom, 1 bath and the third unit has 3 bedrooms and 1 1/2 baths. All appliances stay. Each unit has it's own laundry as well. All are in excellent shape. Commercially zoned. Alley access to a 60'x25' shop/garage which has a 1/2 bath, kitchen, loft, furnace, tall ceilings and tall garage doors. Property is all blacktopped.

Key facts

• Alley access
• 60x25 shop
• Kitchen

Tags

• 3 UNIT APARTMENT BUILDING
• COMMERCIALLY ZONED
• ALLEY ACCESS
• 60X25 SHOP
• KITCHEN
• LAUNDRY

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $219k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $374/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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-, schools F, amenities 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.
• Market conditions: 108 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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 $61k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $116k; list at $219k implies a 89% gain — meaningful room to come down on a strong offer.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.94%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $295,823
• List price: $219,000
• Delta: -25.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.6%
• Equity multiple: 1.59×
• Total profit: $35,972
• Equity at exit: $32,654

10-year hold

• IRR: 23.4%
• Equity multiple: 3.01×
• Total profit: $123,479
• Equity at exit: $18,935

Cash invested: $61,320 (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: 16.4×

Monthly cashflow live

• Estimated rent: $3,335 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $1,121

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,273	-5% $1,197	+0% $1,121	+5% $1,046	+10% $970
Rent	-10% $858	-5% $989	+0% $1,121	+5% $1,253	+10% $1,385
Rate	-1.0pp $1,231	-0.5pp $1,177	base $1,121	+0.5pp $1,064	+1.0pp $1,007

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$3,336
Total (3 units)			$3,335

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-20
   listed $219,000 Active 400-char remark

   Show marketing remark (400 chars)

   3 unit apartment building - 4,800 square feet. Two of the units are 2 bedroom, 1 bath and the third unit has 3 bedrooms and 1 1/2 baths. All appliances stay. Each unit has it's own laundry as well. All are in excellent shape. Commercially zoned. Alley access to a 60'x25' shop/garage which has a 1/2 bath, kitchen, loft, furnace, tall ceilings and tall garage doors. Property is all blacktopped.

2. 2016-12-02
   soldstatus $116,000 311-char remark

   Show marketing remark (311 chars)

   Unique income opportunity. Zoned B-2 General Business. Current usage is a three unit apartment building. Attached long one stall garage. Plus an additional four stall detached garage behind the apartment building, with an alley access. Great for additional storage. Could use for your own use, or rented out.

3. 2016-10-11
   listed $137,900 311-char remark

   Show marketing remark (311 chars)

   Unique income opportunity. Zoned B-2 General Business. Current usage is a three unit apartment building. Attached long one stall garage. Plus an additional four stall detached garage behind the apartment building, with an alley access. Great for additional storage. Could use for your own use, or rented out.

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

Taxation est. · year 1

• Rental income: $40,020
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,202
• − Management: −$3,202
• − Depreciation: −$6,371
• Taxable income: $10,598
• Est. tax owed @ 24.0%: −$2,544
• After-tax cash flow: $10,911/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This three-unit apartment building requires moderate renovations to improve its exterior and interior condition, enhancing its resale and rental value.

Repairs flagged

• Major Exterior paint — Peeling paint on brick
• Major Bathroom plumbing — Exposed plumbing in unfinished space
• Major Exterior siding — Weathered brick

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace exterior siding — Improves curb appeal and structural integrity
• Both Repair/replace exterior paint — Enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Peeling paint on brick	Major	$15,000–50,000
Bathroom plumbing · Exposed plumbing in unfinished space	Major	$15,000–50,000
Exterior siding · Weathered brick	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace exterior siding — Improves curb appeal and structural integrity ↑
• Both Repair/replace exterior paint — Enhances curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+58.8% since first listed

3 events — show timeline

• 2026-04-20 Listed $219,000 RMLSA as Distributed by MLS Grid
• 2016-12-02 Sold (MLS) $116,000 RMLSA as Distributed by MLS Grid
• 2016-10-11 Listed $137,900 RMLSA as Distributed by MLS Grid