223 W Locust St · Canton, IL 61520

$64,000

3 bd · 2.0 ba · 1,324 sqft · Other public records · 215 Days on market

Built 1911 7,840 sqft lot $48/sqft · 24% below area Est $97k · 34% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• 1% rule +5.9/10.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• 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

For Sale: Fixer-Upper in Canton! Don't miss out on this opportunity to transform a charming property into your dream home or investment! Address: 223 W Locust Bedrooms: 3 Bathrooms: 2 Square Footage: 1516 sqft This home is brimming with potential and just needs a little TLC to shine! Perfect for a savvy fixer and flipper or anyone looking for a project home. Priced to sell FAST! Contact Us for More Info: Jon Olson: [email protected] | 727-263-3034 Cash Buyers only $500 EMD 7 day inspection 30 day close

Key facts

• 7,840 sq ft lot
• Built 1911
• Listed 215 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $64k.

Deal economics

• At list price, monthly cash flow is $-28 ($-331/yr) — negative.
• To cash-flow at today's rent, offer at most $59k (7.6% below list).
• Meets the 1% rule at list price ($698 rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 7.8% in Canton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Westview Elementary School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 398 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: 109 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 $442 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 $20k; list at $64k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,320 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• GRM: 7.6

CMA / ARV

• ARV (median comp): $96,754
• List price: $64,000
• Delta: -33.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.2%
• Equity multiple: 0.33×
• Total profit: $-12,033
• Equity at exit: $9,543

10-year hold

• IRR: -11.4%
• Equity multiple: 0.31×
• Total profit: $-12,356
• Equity at exit: $5,534

Cash invested: $17,920 (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: 109
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $698 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$217 /mo · $2,601/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$147
• Net cashflow: $-28

Break-even live

Break-even rent $733

Max offer price $59,128

Occupancy floor 99%

Sensitivity live

Price	-10% $9	-5% $-9	+0% $-28	+5% $-46	+10% $-64
Rent	-10% $-83	-5% $-55	+0% $-28	+5% $0	+10% $28
Rate	-1.0pp $5	-0.5pp $-11	base $-28	+0.5pp $-44	+1.0pp $-61

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 W Locust St Unit 32 Canton, IL	3.0	2.0	952	$698	$0.73	16d	1	1.42mi

Listing history 30 events

1. 2026-06-22
   days on market $64,000 Active 215 DOM
2. 2026-06-21
   days on market $64,000 Active 214 DOM
3. 2026-06-21
   days on market $64,000 Active 213 DOM
4. 2026-06-18
   days on market $64,000 Active 211 DOM
5. 2026-06-17
   days on market $64,000 Active 210 DOM
6. 2026-06-16
   days on market $64,000 Active 209 DOM
7. 2026-06-15
   days on market $64,000 Active 208 DOM
8. 2026-06-13
   days on market $64,000 Active 206 DOM
9. 2026-06-12
   days on market $64,000 Active 205 DOM
10. 2026-06-09
    days on market $64,000 Active 202 DOM
11. 2026-06-08
    days on market $64,000 Active 201 DOM
12. 2026-06-07
    days on market $64,000 Active 200 DOM
13. 2026-06-07
    days on market $64,000 Active 199 DOM
14. 2026-06-04
    days on market $64,000 Active 196 DOM
15. 2026-06-02
    days on market $64,000 Active 195 DOM
16. 2026-06-01
    days on market $64,000 Active 194 DOM
17. 2026-05-31
    days on market $64,000 Active 193 DOM
18. 2026-05-31
    days on market $64,000 Active 192 DOM
19. 2026-04-08
    historical
20. 2026-03-02
    price
21. 2026-02-11
    listed Active
22. 2026-02-04
    price $64,000 528-char remark

    Show marketing remark (528 chars)

    For Sale: Fixer-Upper in Canton! Don't miss out on this opportunity to transform a charming property into your dream home or investment! Address: 223 W Locust Bedrooms: 3 Bathrooms: 2 Square Footage: 1516 sqft This home is brimming with potential and just needs a little TLC to shine! Perfect for a savvy fixer and flipper or anyone looking for a project home. Priced to sell FAST! Contact Us for More Info: Jon Olson: [email protected] | 727-263-3034 Cash Buyers only $500 EMD 7 day inspection 30 day close

23. 2025-11-19
    listed $65,000 Active 528-char remark

    Show marketing remark (528 chars)

    For Sale: Fixer-Upper in Canton! Don't miss out on this opportunity to transform a charming property into your dream home or investment! Address: 223 W Locust Bedrooms: 3 Bathrooms: 2 Square Footage: 1516 sqft This home is brimming with potential and just needs a little TLC to shine! Perfect for a savvy fixer and flipper or anyone looking for a project home. Priced to sell FAST! Contact Us for More Info: Jon Olson: [email protected] | 727-263-3034 Cash Buyers only $500 EMD 7 day inspection 30 day close

24. 2025-05-08
    historical $689
25. 2025-05-01
    listed $689
26. 2021-08-06
    historical
27. 2021-04-16
    soldstatus $20,000
28. 2021-02-02
    listed $29,900
29. 2000-06-30
    soldstatus $48,000
30. 2000-01-04
    listed $49,900

ⓘ 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: $2,601 · $217/mo
• Projected year-2 tax: $2,601 · $217/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: $8,376
• − Mortgage interest: −$3,585
• − Property taxes: −$2,601
• − Insurance: −$320
• − Repairs & maintenance: −$670
• − Management: −$670
• − Depreciation: −$1,862
• Taxable loss: −$1,331
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $-11/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

+28.3% since first listed

12 events — show timeline

• 2026-04-08 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-03-02 Price Changed — RMLSA as Distributed by MLS Grid
• 2026-02-11 Listed — RMLSA as Distributed by MLS Grid
• 2026-02-04 Price Changed $64,000 ForSaleByOwner.com
• 2025-11-19 Listed $65,000 ForSaleByOwner.com
• 2025-05-08 Rental Removed $689 Hemlane
• 2025-05-01 Listed for Rent $689 Hemlane
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-04-16 Sold (MLS) $20,000 RMLSA as Distributed by MLS Grid
• 2021-02-02 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2000-06-30 Sold (MLS) $48,000 RMLSA as Distributed by MLS Grid
• 2000-01-04 Listed $49,900 RMLSA as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2024): $2,601 · +3.6% YoY. Source: county tax records.