215 N Main St · Canton, KS 67742

$114,900

2 bd · 1.0 ba · 1,250 sqft · Townhouse public records · 130 Days on market

Built 1963 7,841 sqft lot

---

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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Take a look at this solid, well built townhome in Canton! Great location across from the grocery store and within walking distance to downtown. Spacious 2 bedroom, 1 bath home has been well cared for! Plenty of storage throughout! All kitchen appliances as well as the washer and dryer are included. Call Lanae today for your showing 620-755-2467! Bsmt Finsh%:0

Key facts

• Large laundry room
• Built-in bookcase
• Garage

Tags

• BUILT-IN BOOKCASE
• LARGE LAUNDRY ROOM
• CUTE DISPLAY SHELVING

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 1 garage parking space (1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Above-grade finished living area
• Construction: Brick construction; Composition roof
• Exterior features: Covered patio/porch; Paved road access

Interior

• Kitchen: Disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans; Electric cooling components
• Interior features: Disposal; Gas water heater; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#237 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Canton-Galva (rural): math 20% / reading 30% proficiency, ranked #211 of 280 in KS (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Canton-Galva Elementary (math 27% / reading 37%, grade F, #423 of 684 statewide, top 66%, 204 students, 40% FRL); Canton-Galva Jr./Sr. High (math 12% / reading 17%, grade F, #267 of 327 statewide, top 84%, 137 students, 34% FRL).
• Market conditions: 1 active listings in the ZIP; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($794 loan paydown + $3k appreciation (3.0% local appreciation)).
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $25k; list at $115k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1963 — 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. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.87%
• DSCR: 1.35
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.9%
• Equity multiple: 1.85×
• Total profit: $27,275
• Equity at exit: $51,664

10-year hold

• IRR: 16.6%
• Equity multiple: 3.43×
• Total profit: $78,274
• Equity at exit: $79,620

Cash invested: $32,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 67742

• Active inventory: 1
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $211

Break-even live

Break-even rent $958

Max offer price $114,900

Occupancy floor 78%

Sensitivity live

Price	-10% $276	-5% $244	+0% $211	+5% $178	+10% $146
Rent	-10% $114	-5% $163	+0% $211	+5% $259	+10% $308
Rate	-1.0pp $269	-0.5pp $240	base $211	+0.5pp $181	+1.0pp $151

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $114,900 Active 130 DOM
2. 2026-06-18
   days on market $114,900 Active 129 DOM
3. 2026-06-17
   days on market $114,900 Active 128 DOM
4. 2026-06-16
   days on market $114,900 Active 127 DOM
5. 2026-06-15
   days on market $114,900 Active 126 DOM
6. 2026-06-14
   days on market $114,900 Active 124 DOM
7. 2026-06-12
   days on market $114,900 Active 123 DOM
8. 2026-06-09
   days on market $114,900 Active 120 DOM
9. 2026-06-08
   days on market $114,900 Active 119 DOM
10. 2026-06-07
    days on market $114,900 Active 118 DOM
11. 2026-06-05
    days on market $114,900 Active 116 DOM
12. 2026-06-04
    days on market $114,900 Active 114 DOM
13. 2026-06-02
    days on market $114,900 Active 113 DOM
14. 2026-06-01
    days on market $114,900 Active 112 DOM
15. 2026-05-31
    days on market $114,900 Active 111 DOM
16. 2026-05-31
    days on market $114,900 Active 110 DOM
17. 2026-02-09
    listed $114,900 Active
18. 2026-01-01
    historical
19. 2025-08-18
    price $114,900
20. 2025-07-02
    listed $120,500 Active
21. 2013-04-18
    soldstatus 361-char remark

    Show marketing remark (361 chars)

    Take a look at this solid, well built townhome in Canton! Great location across from the grocery store and within walking distance to downtown. Spacious 2 bedroom, 1 bath home has been well cared for! Plenty of storage throughout! All kitchen appliances as well as the washer and dryer are included. Call Lanae today for your showing 620-755-2467! Bsmt Finsh%:0

22. 2012-06-22
    listed $57,900 361-char remark

    Show marketing remark (361 chars)

    Take a look at this solid, well built townhome in Canton! Great location across from the grocery store and within walking distance to downtown. Spacious 2 bedroom, 1 bath home has been well cared for! Plenty of storage throughout! All kitchen appliances as well as the washer and dryer are included. Call Lanae today for your showing 620-755-2467! Bsmt Finsh%:0

23. 1990-12-01
    soldstatus $25,000
24. 1987-06-01
    soldstatus $28,000

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

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $1,273 · $106/mo
• Projected year-2 tax: $1,620 · $135/mo
• Expected delta: +$347/yr (+$29/mo · 27.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,696
• − Mortgage interest: −$6,436
• − Property taxes: −$1,273
• − Insurance: −$574
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$3,343
• Taxable income: $718
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $2,359/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-Galva
• NCES district ID: 2004440
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $57,420
• Composite: 25.78/100
• National rank: #12795
• State rank: #211 of 280 in KS

Livability — Canton

• Score: 67/100
• State rank: #237
• US rank: #10583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canton, KS

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+310.4% since first listed

8 events — show timeline

• 2026-02-09 Listed $114,900 MKMLS as distributed by MLS GRID
• 2026-01-01 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-08-18 Price Changed $114,900 SCKMLS as Distributed by MLS Grid
• 2025-07-02 Listed $120,500 SCKMLS as Distributed by MLS Grid
• 2013-04-18 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2012-06-22 Listed $57,900 MKMLS as distributed by MLS GRID
• 1990-12-01 Sold (Public Records) $25,000 Public Records
• 1987-06-01 Sold (Public Records) $28,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,273 · +8.2% YoY. Source: county tax records.