459 E Locust St · Canton, IL 61520

$85,000

2 bd · 1.0 ba · 600 sqft · Other public records · 242 Days on market

Built 1902 $142/sqft · 176% above area

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• 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

Packaged with 2 additional properties (5 total parcel numbers). This 2 bed/1 bath currently rents for $600/month with a long-term tenant in place and includes an additional vacant parcel to the East. This package would be great for investors looking to add to their rental portfolio and these parcels are in a prime location for future commercial development, boasting traffic counts of 8,100 vehicles/day and located in Canton's BDD and TIF-2. This package also includes 453 E. Locust Street and 210 N. 5th Avenue. The total combined price for all 5 parcels is $215,000.00.

Key facts

• Parking
• Built 1902
• Listed 241 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 7.8% 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: Eastview Elementary School (math 22% / reading 22%, grade F, #940 of 2,056 statewide, top 49%, 265 students, 0% FRL); Ingersoll Middle School (math 18% / reading 24%, grade F, #405 of 665 statewide, top 61%, 645 students, 0% FRL); 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 $588 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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. 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: 1.41% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 5.9

CMA / ARV

• ARV (median comp): $47,174
• List price: $85,000
• Delta: 80.18%
• 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: 5.5%
• Equity multiple: 1.21×
• Total profit: $5,103
• Equity at exit: $12,674

10-year hold

• IRR: 15.0%
• Equity multiple: 2.21×
• Total profit: $28,911
• Equity at exit: $7,349

Cash invested: $23,800 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $295

Break-even live

Break-even rent $826

Max offer price $85,000

Occupancy floor 70%

Sensitivity live

Price	-10% $344	-5% $320	+0% $295	+5% $271	+10% $247
Rent	-10% $201	-5% $248	+0% $295	+5% $343	+10% $390
Rate	-1.0pp $338	-0.5pp $317	base $295	+0.5pp $273	+1.0pp $251

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: $21,250
• Closing costs: $2,550
• 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	15d	1	0.33mi

Listing history 20 events

1. 2026-06-22
   days on market $85,000 Active 242 DOM
2. 2026-06-21
   days on market $85,000 Active 241 DOM
3. 2026-06-21
   days on market $85,000 Active 240 DOM
4. 2026-06-18
   days on market $85,000 Active 238 DOM
5. 2026-06-17
   remarks 595-char remark
6. 2026-06-17
   days on market $85,000 Active 237 DOM
7. 2026-06-16
   days on market $85,000 Active 236 DOM
8. 2026-06-15
   days on market $85,000 Active 235 DOM
9. 2026-06-13
   days on market $85,000 Active 233 DOM
10. 2026-06-12
    days on market $85,000 Active 232 DOM
11. 2026-06-09
    days on market $85,000 Active 229 DOM
12. 2026-06-08
    days on market $85,000 Active 228 DOM
13. 2026-06-07
    days on market $85,000 Active 227 DOM
14. 2026-06-07
    days on market $85,000 Active 226 DOM
15. 2026-06-04
    days on market $85,000 Active 223 DOM
16. 2026-06-02
    days on market $85,000 Active 222 DOM
17. 2026-06-01
    days on market $85,000 Active 221 DOM
18. 2026-05-31
    days on market $85,000 Active 220 DOM
19. 2026-05-31
    days on market $85,000 Active 219 DOM
20. 2025-10-21
    listed $85,000 Active 578-char remark

    Show marketing remark (578 chars)

    Packaged with 2 additional properties (5 total parcel numbers). This 2 bed/1 bath currently rents for $600/month with a long-term tenant in place and includes an additional vacant parcel to the East. This package would be great for investors looking to add to their rental portfolio and these parcels are in a prime location for future commercial development, boasting traffic counts of 8,100 vehicles/day and located in Canton's BDD and TIF-2. This package also includes 453 E. Locust Street and 210 N. 5th Avenue. The total combined price for all 5 parcels is $215,000.00.

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: −$4,761
• − Property taxes: −$2,056
• − Insurance: −$425
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,473
• Taxable income: $2,381
• Est. tax owed @ 24.0%: −$571
• After-tax cash flow: $2,974/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

1 event — show timeline

• 2025-10-21 Listed $85,000 RMLSA as Distributed by MLS Grid

Property tax history

+9.1%/yr

Latest (2024): $2,056 · +1.7% YoY. Source: county tax records.