2646 W Brower St · Springfield, MO 65802

$114,000

2 bd · 1.0 ba · 692 sqft · SingleFamily public records · 91 Days on market

Built 1897 0.50 ac lot $165/sqft · at area comps Est $116k · at est. ↓ 4% 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 +15.2/30.0
• ARV discount +8.1/15.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.2/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment, Rental Income. Cute Bungalow!! This house has 692 sqft, with 2 bedrooms, 1 full bathroom, a laundry room, and 2 carports. Plenty of kitchen cabinets and the kitchen appliances stay: refrigerator, natural gas cook stove. Flooring is laminate. Large backyard; 312' x 70', mostly fenced, and a storage shed for extra storage. The plumbing and electrical has been updated over time. Long-time renters and the monthly $800. income and leased through October here in Springfield, MO. Buy your first rental house or use your 1031exchange money to buy this one. The owner prefers to sell in as-is condition and chooses not to make any repairs if called out by the inspector. Pictures are from prior to tenant occupied.

Key facts

• Updated electrical
• Laundry room
• Large backyard

Tags

• LAUNDRY ROOM
• LARGE BACKYARD
• STORAGE SHED
• UPDATED PLUMBING
• UPDATED ELECTRICAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $40 ($477/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (20.0% below list).
• Recommended offer: $91k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.6% in Springfield — 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 75/100 on livability (#57 in MO, #4,121 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment F.
• Springfield R-XII (urban): math 32% / reading 46% proficiency, ranked #174 of 324 in MO (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: York Elem. (math 32% / reading 47%, grade F, #537 of 1,115 statewide, top 53%, 204 students, 89% FRL); Pipkin Middle (math 20% / reading 29%, grade F, #324 of 391 statewide, top 83%, 340 students, 82% FRL) — zoned schools average 86% FRL vs 46% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 520 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Greene County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,170 (20.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — 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. Crime grade is F 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?
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: 0.80% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 10.4

CMA / ARV

• ARV (median comp): $115,577
• List price: $114,000
• Delta: -1.36%
• 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
1122 N Brown Ave	0.32mi	2/1.0	704 (+2%)	6mo	$115,000	$163	77
1024 N Fulbright Ave	0.20mi	2/1.0	672 (-3%)	10mo	$115,000	$171	77
2435 W Calhoun St	0.45mi	2/1.0	700 (+1%)	3mo	$140,000	$200	75
1030 N Warren Ave	0.46mi	2/1.0	700 (+1%)	7mo	$95,000	$136	70
1200 N Ethyl Ave	0.31mi	2/1.0	728 (+5%)	8mo	$69,900	$96	70
810 N West Ave	0.23mi	2/1.0	768 (+11%)	3mo	$119,000	$155	69
229 N Scenic Ave	0.53mi	2/1.0	664 (-4%)	12mo	$87,500	$132	58
612 N Park Ave	0.50mi	2/1.0	624 (-10%)	4mo	$89,900	$144	57
207 N Forest Ave	0.61mi	2/1.0	624 (-10%)	6mo	$125,000	$200	50
2831 W Elm St	0.74mi	2/1.0	770 (+11%)	4mo	$106,000	$138	44
1016 N Wabash Ave	0.74mi	2/1.0	630 (-9%)	9mo	$89,900	$143	43
2956 W Olive St	0.66mi	1/1.0 (-1)	780 (+13%)	9mo	$159,900	$205	36

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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.55×
• Total profit: $-14,294
• Equity at exit: $16,998

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-2,159
• Equity at exit: $9,857

Cash invested: $31,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 65802

• Home prices YoY: -31.9%
• Rents YoY: 4.8%
• Active inventory: 520
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $912 high
• Mortgage (P&I): −$598
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $40

Break-even live

Break-even rent $861

Max offer price $114,000

Occupancy floor 91%

Sensitivity live

Price	-10% $104	-5% $72	+0% $40	+5% $7	+10% $-25
Rent	-10% $-32	-5% $4	+0% $40	+5% $76	+10% $112
Rate	-1.0pp $97	-0.5pp $69	base $40	+0.5pp $10	+1.0pp $-20

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	45d	1	0.17mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	25d	1	0.49mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	45d	1	0.49mi
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	45d	1	0.75mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	15d	1	0.91mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	45d	1	0.96mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	45d	1	0.96mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	25d	1	1.33mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	45d	1	1.39mi

Listing history 19 events

1. 2026-06-17
   days on market $114,000 Active 91 DOM
2. 2026-06-16
   days on market $114,000 Active 90 DOM
3. 2026-06-15
   days on market $114,000 Active 89 DOM
4. 2026-06-14
   days on market $114,000 Active 87 DOM
5. 2026-06-10
   days on market $114,000 Active 84 DOM
6. 2026-06-09
   days on market $114,000 Active 83 DOM
7. 2026-06-08
   days on market $114,000 Active 82 DOM
8. 2026-06-07
   days on market $114,000 Active 81 DOM
9. 2026-06-03
   days on market $114,000 Active 77 DOM
10. 2026-06-02
    days on market $114,000 Active 76 DOM
11. 2026-06-01
    days on market $114,000 Active 75 DOM
12. 2026-05-31
    days on market $114,000 Active 74 DOM
13. 2026-05-30
    days on market $114,000 Active 73 DOM
14. 2026-03-18
    listed $114,000 Active 722-char remark

    Show marketing remark (722 chars)

    Investment, Rental Income. Cute Bungalow!! This house has 692 sqft, with 2 bedrooms, 1 full bathroom, a laundry room, and 2 carports. Plenty of kitchen cabinets and the kitchen appliances stay: refrigerator, natural gas cook stove. Flooring is laminate. Large backyard; 312' x 70', mostly fenced, and a storage shed for extra storage. The plumbing and electrical has been updated over time. Long-time renters and the monthly $800. income and leased through October here in Springfield, MO. Buy your first rental house or use your 1031exchange money to buy this one. The owner prefers to sell in as-is condition and chooses not to make any repairs if called out by the inspector. Pictures are from prior to tenant occupied.

15. 2026-03-03
    price $114,000
16. 2025-12-09
    listed $119,000 Active
17. 2017-06-22
    soldstatus
18. 2010-09-28
    soldstatus
19. 2008-04-08
    soldstatus

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

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $422 · $35/mo
• Projected year-2 tax: $1,106 · $92/mo
• Expected delta: +$684/yr (+$57/mo · 162.1%)

ⓘ 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 4/10 Moderate 6 d/yr ≥104°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: $10,940
• − Mortgage interest: −$6,386
• − Property taxes: −$422
• − Insurance: −$570
• − Repairs & maintenance: −$875
• − Management: −$875
• − Depreciation: −$3,316
• Taxable loss: −$1,504
• Est. tax savings @ 24.0%: +$361
• After-tax cash flow: $838/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: Springfield R-XII
• NCES district ID: 2928860
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $37,886
• Composite: 32.45/100
• National rank: #5717
• State rank: #174 of 324 in MO

Livability — Springfield

• Score: 75/100
• State rank: #57
• US rank: #4121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, MO
• County: Greene County · 244,327 people
• City population: 223,044
• Metro: Springfield, MO
• Population (ZIP): 46,739
• Household income: $55,019
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 1818.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 319,054 people
• By 2030: 335,135 · +5.0%
• By 2040: 366,186 · +14.8%
• By 2050: 397,431 · +24.6%
• By 2075: 477,035 · +49.5%
• By 2100: 520,828 · +63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 5% Black 4% Asian 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Greene

• 2024 margin: Strong R (+20.8) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -5.0pp toward R · 2008: -15.8pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+20.1 2016: R+27.4 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.72%
• Current HPI: 212.9826
• Rent YoY: ▲ 4.82%
• Metro: Springfield, MO
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

-4.2% since first listed

6 events — show timeline

• 2026-03-18 Listed $114,000 SOMO
• 2026-03-03 Price Changed $114,000 SOMO
• 2025-12-09 Listed $119,000 SOMO
• 2017-06-22 Sold (Public Records) — Public Records
• 2010-09-28 Sold (Public Records) — Public Records
• 2008-04-08 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $422 · +5.3% YoY. Source: county tax records.