646 E Locust St · Canton, IL 61520-1486

$85,000

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 90 Days on market

Built 1920 0.26 ac lot $102/sqft · 35% above area Est $92k · 8% 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 +28.2/30.0
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Charming 3-bedroom bungalow featuring spacious rooms throughout. The electrical system and sewer have been updated for peace of mind. Enjoy relaxing on the inviting front porch. Includes a garage and plenty of potential to make it your own. Sold "AS IS" All measurements are approximate. Appliances not warranted.

Key facts

• Front porch
• Updated sewer
• 0.26 acre lot

Tags

• UPDATED ELECTRICAL SYSTEM
• UPDATED SEWER
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/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: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 7.9% in Canton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 3 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

• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.41% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 5.9

CMA / ARV

• ARV (median comp): $92,019
• List price: $85,000
• Delta: -7.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 E Ash St	0.17mi	2/1.0 (-1)	825 (-1%)	0mo	$84,000	$102	85
62 N 5th Ave	0.17mi	2/1.0 (-1)	798 (-4%)	6mo	$67,000	$84	75
320 N 5th Ave	0.19mi	2/1.0 (-1)	809 (-3%)	10mo	$52,500	$65	73
335 Iris Ct	0.40mi	3/1.0	864 (+4%)	3mo	$110,000	$127	72
660 N 9th Ave	0.40mi	2/1.0 (-1)	800 (-4%)	2mo	$83,000	$104	68
476 Baxter Ct	0.31mi	2/1.0 (-1)	792 (-5%)	6mo	$45,000	$57	67
904 E Elm St	0.26mi	2/1.0 (-1)	896 (+8%)	11mo	$59,900	$67	61
735 N 8th Ave	0.47mi	2/1.0 (-1)	858 (+3%)	11mo	$85,000	$99	58
30 E Maple St	0.66mi	2/1.0 (-1)	832 (0%)	11mo	$30,000	$36	55
458 N 8th Ave	0.25mi	3/1.0	956 (+15%)	13mo	$49,000	$51	53
1140 E Myrtle St	0.54mi	2/1.0 (-1)	744 (-11%)	3mo	$87,500	$118	50
225 E Hickory St	0.74mi	2/1.0 (-1)	718 (-14%)	12mo	$69,900	$97	28

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: 20.3%
• Equity multiple: 2.15×
• Total profit: $27,432
• Equity at exit: $38,220

10-year hold

• IRR: 21.5%
• Equity multiple: 4.10×
• Total profit: $73,782
• Equity at exit: $58,901

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 61520-1486

• Active inventory: 3
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$198 /mo · $2,377/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $269

Break-even live

Break-even rent $860

Max offer price $85,000

Occupancy floor 73%

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	13d	1	0.24mi

Listing history 19 events

1. 2026-06-18
   days on market $85,000 Active 90 DOM
2. 2026-06-17
   days on market $85,000 Active 89 DOM
3. 2026-06-16
   days on market $85,000 Active 88 DOM
4. 2026-06-15
   days on market $85,000 Active 87 DOM
5. 2026-06-13
   days on market $85,000 Active 85 DOM
6. 2026-06-12
   days on market $85,000 Active 84 DOM
7. 2026-06-09
   days on market $85,000 Active 81 DOM
8. 2026-06-08
   days on market $85,000 Active 80 DOM
9. 2026-06-07
   days on market $85,000 Active 79 DOM
10. 2026-06-07
    days on market $85,000 Active 78 DOM
11. 2026-06-04
    days on market $85,000 Active 75 DOM
12. 2026-06-02
    days on market $85,000 Active 74 DOM
13. 2026-06-01
    days on market $85,000 Active 73 DOM
14. 2026-05-31
    days on market $85,000 Active 72 DOM
15. 2026-05-31
    days on market $85,000 Active 71 DOM
16. 2026-04-03
    price $85,000 326-char remark

    Show marketing remark (326 chars)

    Charming 3-bedroom bungalow featuring spacious rooms throughout. The electrical system and sewer have been updated for peace of mind. Enjoy relaxing on the inviting front porch. Includes a garage and plenty of potential to make it your own. Sold "AS IS" All measurements are approximate. Appliances not warranted.

17. 2026-03-20
    listed $94,900 Active 326-char remark

    Show marketing remark (326 chars)

    Charming 3-bedroom bungalow featuring spacious rooms throughout. The electrical system and sewer have been updated for peace of mind. Enjoy relaxing on the inviting front porch. Includes a garage and plenty of potential to make it your own. Sold "AS IS" All measurements are approximate. Appliances not warranted.

18. 2005-11-15
    soldstatus $74,900 357-char remark

    Show marketing remark (357 chars)

    Very Clean 3 BR Bungalow - Move Right In - Already Baby Proofed. This Home Boast of Natural Wood Work, Newer Thermal Replacement Windows (except 2), New Kitchen, DR, and Updated Bath. 4 Yr. Old Amana Furnace. 5 Ceiling Fans. Some Newer Plumbing, Wiring and 100 Amp Breaker Box. Fenced Back Yard w/Alley Access and 1 1/2 Car Garage. Must See ! Priced Right

19. 2005-10-10
    listed $74,900 357-char remark

    Show marketing remark (357 chars)

    Very Clean 3 BR Bungalow - Move Right In - Already Baby Proofed. This Home Boast of Natural Wood Work, Newer Thermal Replacement Windows (except 2), New Kitchen, DR, and Updated Bath. 4 Yr. Old Amana Furnace. 5 Ceiling Fans. Some Newer Plumbing, Wiring and 100 Amp Breaker Box. Fenced Back Yard w/Alley Access and 1 1/2 Car Garage. Must See ! Priced Right

ⓘ 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: $2,377 · $198/mo
• Projected year-2 tax: $2,377 · $198/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 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: −$4,761
• − Property taxes: −$2,377
• − Insurance: −$425
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,473
• Taxable income: $2,060
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $2,731/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 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%

Not yet ingested

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

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+13.5% since first listed

4 events — show timeline

• 2026-04-03 Price Changed $85,000 RMLSA as Distributed by MLS Grid
• 2026-03-20 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2005-11-15 Sold (MLS) $74,900 RMLSA as Distributed by MLS Grid
• 2005-10-10 Listed $74,900 RMLSA as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2024): $2,377 · +3.4% YoY. Source: county tax records.