624 S Main St · Canton, IL 61520

$25,000

3 bd · 2.0 ba · 1,108 sqft · Other public records · 271 Days on market

Built 1886 8,250 sqft lot $23/sqft · 52% below area ↓ 14% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +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
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom 2-story home has lots of room for you to make it to fit your needs. Main floor has laundry, 2 baths, formal dining room, kitchen, living room and dining room. Three bedrooms upstairs. Seller opened up two rooms to make one large bedroom. Previously was a bath upstairs that could be replaced. Laundry on main floor in 2 places. Outside service entrances are live but no wiring hooked up inside. Plumbing not connected. Seller has done much of the removal of the old walls and fixtures (ready for you to finish as you like). Upstairs windows are newer. Floor plan on main and upper can be re-arranged to fit your needs as you finish remodeling. Seller had planned to use radiant heat upstairs and GFA downstairs. Listing "Sold As Is" with no warranties,

Key facts

• 8,250 sq ft lot
• Parking
• Built 1886

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.9% 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 $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $10k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 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 1886 — 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. 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?
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: 4.63% ✓
• Cap rate: 41.91%
• Cash-on-cash: 127.22%
• DSCR: 6.66
• GRM: 1.8

CMA / ARV

• ARV (median comp): $103,323
• List price: $25,000
• Delta: -75.80%
• 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: —
• Equity multiple: 7.18×
• Total profit: $43,231
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 15.08×
• Total profit: $98,577
• Equity at exit: $2,162

Cash invested: $7,000 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $742

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 31%

Sensitivity live

Price	-10% $759	-5% $751	+0% $742	+5% $733	+10% $725
Rent	-10% $651	-5% $696	+0% $742	+5% $788	+10% $834
Rate	-1.0pp $755	-0.5pp $748	base $742	+0.5pp $736	+1.0pp $729

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $25,000 Active 271 DOM
2. 2026-06-18
   days on market $25,000 Active 269 DOM
3. 2026-06-17
   days on market $25,000 Active 268 DOM
4. 2026-06-16
   days on market $25,000 Active 267 DOM
5. 2026-06-15
   days on market $25,000 Active 266 DOM
6. 2026-06-13
   days on market $25,000 Active 264 DOM
7. 2026-06-12
   days on market $25,000 Active 263 DOM
8. 2026-06-09
   days on market $25,000 Active 260 DOM
9. 2026-06-08
   days on market $25,000 Active 259 DOM
10. 2026-06-07
    days on market $25,000 Active 258 DOM
11. 2026-06-07
    pricedays on market $25,000 Active 257 DOM
12. 2026-06-04
    days on market $28,000 Active 254 DOM
13. 2026-06-02
    days on market $28,000 Active 253 DOM
14. 2026-06-01
    days on market $28,000 Active 252 DOM
15. 2026-05-31
    days on market $28,000 Active 251 DOM
16. 2026-05-31
    days on market $28,000 Active 250 DOM
17. 2025-12-18
    price $30,000 787-char remark

    Show marketing remark (787 chars)

    This 3 bedroom 2-story home has lots of room for you to make it to fit your needs. Main floor has laundry, 2 baths, formal dining room, kitchen, living room and dining room. Three bedrooms upstairs. Seller opened up two rooms to make one large bedroom. Previously was a bath upstairs that could be replaced. Laundry on main floor in 2 places. Outside service entrances are live but no wiring hooked up inside. Plumbing not connected. Seller has done much of the removal of the old walls and fixtures (ready for you to finish as you like). Upstairs windows are newer. Floor plan on main and upper can be re-arranged to fit your needs as you finish remodeling. Seller had planned to use radiant heat upstairs and GFA downstairs. Listing "Sold As Is" with no warranties,

18. 2025-09-19
    listed $35,000 Active 787-char remark

    Show marketing remark (787 chars)

    This 3 bedroom 2-story home has lots of room for you to make it to fit your needs. Main floor has laundry, 2 baths, formal dining room, kitchen, living room and dining room. Three bedrooms upstairs. Seller opened up two rooms to make one large bedroom. Previously was a bath upstairs that could be replaced. Laundry on main floor in 2 places. Outside service entrances are live but no wiring hooked up inside. Plumbing not connected. Seller has done much of the removal of the old walls and fixtures (ready for you to finish as you like). Upstairs windows are newer. Floor plan on main and upper can be re-arranged to fit your needs as you finish remodeling. Seller had planned to use radiant heat upstairs and GFA downstairs. Listing "Sold As Is" with no warranties,

19. 2016-05-20
    soldstatus $28,000 125-char remark

    Show marketing remark (125 chars)

    Investment opportunity! Three bedroom, two story home in Canton, IL. All measurements are approximate & not guaranteed.

20. 2016-01-24
    listed $34,900 125-char remark

    Show marketing remark (125 chars)

    Investment opportunity! Three bedroom, two story home in Canton, IL. All measurements are approximate & not guaranteed.

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

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: $13,897
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$727
• Taxable income: $9,046
• Est. tax owed @ 24.0%: −$2,171
• After-tax cash flow: $6,734/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

-14.0% since first listed

4 events — show timeline

• 2025-12-18 Price Changed $30,000 RMLSA as Distributed by MLS Grid
• 2025-09-19 Listed $35,000 RMLSA as Distributed by MLS Grid
• 2016-05-20 Sold (MLS) $28,000 RMLSA as Distributed by MLS Grid
• 2016-01-24 Listed $34,900 RMLSA as Distributed by MLS Grid

Property tax history

+67.1%/yr

Latest (2024): $1,417 · +1.7% YoY. Source: county tax records.