223 S 1st Ave · Canton, IL 61520

$47,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 30 Days on market

Built 1911 6,660 sqft lot Est $47k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Two-bedroom ranch home with open kitchen/dining area. Enclosed back porch area could be used for a den or 3rd bedroom. Newer windows in bedrooms. Fenced area on South side of home. Alley access in back. In an estate, "Sold as Is".

Key facts

• Alley access
• Enclosed back porch
• Fenced area

Tags

• OPEN KITCHEN DINING AREA
• ENCLOSED BACK PORCH
• FENCED AREA
• ALLEY ACCESS

Property features AI

Finance

• Other: Lot dimensions approximately 37 x 180
• HOA & community: No association fee

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1911
• Construction: Rubber roof
• Exterior features: Replacement windows; Level lot; Paved road access; Alley access

Interior

• Kitchen: Refrigerator; Microwave
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet throughout main living areas mentioned
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas water heater; Window air conditioning unit(s)
• Interior features: Ceiling fan(s); Partial, unfinished basement
• Laundry & utility: Washer; Dryer; Basement laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($841 rent vs $47k).
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.0% 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-, 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: 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: 102 active listings in the ZIP; 2 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 $325 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,295 (1.5% below list)

Questions for the listing agent

1. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.79% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.95%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $47,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
454 S 3rd Ave	0.24mi	3/1.0 (+1)	1,024 (+9%)	0mo	$9,000	$9	69
143 E Spruce St	0.47mi	2/1.0	998 (+6%)	2mo	$49,900	$50	66
148 Robinson Ct	0.50mi	2/1.0	880 (-6%)	3mo	$42,000	$48	64
324 W Spruce St	0.65mi	2/1.0	968 (+3%)	1mo	$40,000	$41	64
17 N 5th Ave	0.38mi	3/2.0 (+1)	980 (+4%)	6mo	$18,000	$18	61
906 E Locust St	0.70mi	2/1.0	960 (+2%)	7mo	$43,500	$45	58
36 E Olive St	0.63mi	1/1.0 (-1)	906 (-4%)	2mo	$69,900	$77	57
658 E Maple St	0.43mi	2/1.0	1,068 (+14%)	9mo	$37,500	$35	49
944 E Walnut Ave	0.65mi	3/1.0 (+1)	1,030 (+10%)	2mo	$82,000	$80	47
714 E Ash St	0.71mi	2/1.0	825 (-12%)	0mo	$84,000	$102	46
320 N 5th Ave	0.58mi	2/1.0	809 (-14%)	10mo	$52,500	$65	42
437 N Avenue B	0.66mi	3/1.0 (+1)	1,058 (+13%)	10mo	$69,900	$66	34

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: 25.7%
• Equity multiple: 2.07×
• Total profit: $14,016
• Equity at exit: $7,008

10-year hold

• IRR: 33.4%
• Equity multiple: 4.05×
• Total profit: $40,096
• Equity at exit: $4,064

Cash invested: $13,160 (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: 102
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $841 medium
• Mortgage (P&I): −$246
• Tax est. 1.5%: −$59 /mo · $705/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $339

Break-even live

Break-even rent $411

Max offer price $47,000

Occupancy floor 55%

Sensitivity live

Price	-10% $372	-5% $356	+0% $339	+5% $323	+10% $307
Rent	-10% $273	-5% $306	+0% $339	+5% $373	+10% $406
Rate	-1.0pp $363	-0.5pp $351	base $339	+0.5pp $327	+1.0pp $315

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
143 W Locust St Unit 6 Canton, IL	1.0	1.0	780	$650	$0.83	44d	1	0.46mi
437 N 8th Ave Canton, IL	2.0	1.0	690	$1,200	$1.74	14d	1	0.77mi

Listing history 17 events

1. 2026-06-18
   days on market $47,000 Active 30 DOM
2. 2026-06-17
   days on market $47,000 Active 29 DOM
3. 2026-06-16
   days on market $47,000 Active 28 DOM
4. 2026-06-15
   days on market $47,000 Active 27 DOM
5. 2026-06-13
   days on market $47,000 Active 25 DOM
6. 2026-06-12
   statusdays on market $47,000 Active 24 DOM
7. 2026-06-09
   days on market $47,000 Under Contract 21 DOM
8. 2026-06-08
   days on market $47,000 Under Contract 20 DOM
9. 2026-06-07
   days on market $47,000 Under Contract 19 DOM
10. 2026-06-07
    days on market $47,000 Under Contract 18 DOM
11. 2026-06-04
    days on market $47,000 Under Contract 15 DOM
12. 2026-06-02
    days on market $47,000 Under Contract 14 DOM
13. 2026-06-01
    days on market $47,000 Under Contract 13 DOM
14. 2026-05-31
    days on market $47,000 Under Contract 12 DOM
15. 2026-05-31
    days on market $47,000 Under Contract 11 DOM
16. 2026-05-22
    historical Under Contract
17. 2026-05-16
    listed $47,000 Active

ⓘ 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 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: $10,090
• − Mortgage interest: −$2,633
• − Property taxes: −$705
• − Insurance: −$235
• − Repairs & maintenance: −$807
• − Management: −$807
• − Depreciation: −$1,367
• Taxable income: $3,536
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $3,225/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

2 events — show timeline

• 2026-05-22 Contingent — RMLSA as Distributed by MLS Grid
• 2026-05-16 Listed $47,000 RMLSA as Distributed by MLS Grid

Property tax history

-21.9%/yr

Latest (2022): $52 · -95.4% YoY. Source: county tax records.