447 S New Ave · Springfield, MO 65806

$135,000

3 bd · 3.0 ba · 1,716 sqft · Other public records · 364 Days on market

Built 1906 7,841 sqft lot $79/sqft · 15% below area Est $158k · 15% under ↓ 21% since listing

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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 +24.7/30.0
• ARV discount +14.1/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

Key facts

• Newer electric
• Newer roof
• Newer hvac

Tags

• NEWER HVAC
• NEWER ROOF
• NEWER ELECTRIC

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $135k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Market conditions: Rents rising fast (+4.2%/yr); 86 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).
• At $1,390/mo this rent would consume 59% of the median local household income ($28k/yr) (locally 1966% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 364 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 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 1906 — 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. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (median comp): $158,150
• List price: $135,000
• Delta: -14.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.17% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,365
• Equity at exit: $20,129

10-year hold

• IRR: 9.1%
• Equity multiple: 1.73×
• Total profit: $27,748
• Equity at exit: $11,672

Cash invested: $37,800 (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 65806

• Home prices YoY: -11.7%
• Rents YoY: 4.2%
• Active inventory: 86
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$708
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $281

Break-even live

Break-even rent $1,034

Max offer price $135,000

Occupancy floor 75%

Sensitivity live

Price	-10% $358	-5% $319	+0% $281	+5% $243	+10% $205
Rent	-10% $171	-5% $226	+0% $281	+5% $336	+10% $391
Rate	-1.0pp $349	-0.5pp $315	base $281	+0.5pp $246	+1.0pp $211

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
539 S Fort Ave Springfield, MO	2.0	1.0	1500	$1,025	$0.68	14d	1	0.15mi
710 W Walnut St Springfield, MO	3.0	2.0	1350	$1,695	$1.26	44d	1	0.38mi
623 W Walnut St Springfield, MO	2.0	2.0	1180	$1,300	$1.10	44d	1	0.47mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	44d	1	0.52mi
518 W College St Unit UBL 106 Springfield, MO	2.0	2.0	1200	$1,375	$1.15	44d	1	0.57mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	22d	5	0.59mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	24d	5	0.59mi
847 S Grant Ave Springfield, MO	2.0	1.0	1080	$815	$0.75	44d	1	0.60mi
630 S Market Ave Springfield, MO	3.0	2.0	1758	$2,150	$1.22	44d	1	0.62mi
520 W Olive St Springfield, MO	3.0	2.0	1445	$1,538	$1.06	14d	5	0.62mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	24d	5	0.62mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	14d	4	0.62mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	14d	8	0.76mi
707 South Ave Unit 5 Springfield, MO	4.0	2.0	1100	$1,275	$1.16	44d	1	0.77mi
505 W Grand St Springfield, MO	1.0–2.0	1.0–2.0	996	$1,395	$1.40	14d	1	0.78mi
1500 W Grand St Springfield, MO	2.0–3.0	1.0–1.5	1365	$1,395	$1.02	14d	3	0.82mi
1044 S Main Ave Springfield, MO	2.0	1.0	1089	$1,050	$0.96	44d	1	0.85mi
1112 S Grant Ave Unit 100 Springfield, MO	2.0	2.0	1193	$1,450	$1.22	44d	1	0.90mi
501 W Central St Springfield, MO	4.0	2.0	2000	$2,200	$1.10	24d	1	1.02mi
2412 W Lincoln St Springfield, MO	3.0	1.0	1260	$1,295	$1.03	24d	1	1.07mi
616 W Webster St Springfield, MO	2.0	1.5	1178	$1,050	$0.89	14d	1	1.15mi
1453 S Fort Ave Springfield, MO	4.0	1.0	2128	$1,545	$0.73	44d	1	1.25mi
2602 W College St Springfield, MO	2.0	1.0	1350	$995	$0.74	14d	1	1.26mi
1014 E Walnut St Springfield, MO	2.0	2.0	1200	$1,200	$1.00	44d	1	1.46mi

Listing history 20 events

1. 2026-06-14
   days on market $135,000 Active 364 DOM
2. 2026-06-10
   days on market $135,000 Active 361 DOM
3. 2026-06-09
   days on market $135,000 Active 360 DOM
4. 2026-06-08
   days on market $135,000 Active 359 DOM
5. 2026-06-07
   days on market $135,000 Active 358 DOM
6. 2026-06-03
   days on market $135,000 Active 354 DOM
7. 2026-06-02
   days on market $135,000 Active 353 DOM
8. 2026-06-01
   days on market $135,000 Active 352 DOM
9. 2026-05-31
   days on market $135,000 Active 351 DOM
10. 2026-05-30
    days on market $135,000 Active 350 DOM
11. 2026-04-25
    price $135,000 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

12. 2026-02-28
    price $139,900 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

13. 2026-01-05
    price $142,500 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

14. 2025-12-27
    price $145,000 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

15. 2025-12-13
    price $147,500 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

16. 2025-07-15
    price $149,900 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

17. 2025-06-14
    listed $159,900 Active 431-char remark

    Show marketing remark (431 chars)

    Owner will finance down payment to qualified buyer once completed property will produce 2400 a month in income one unit is currently rented at $800 a month the other two units need work due to a water leak. Triplex 3 1Br Units Close to Downtown and MSU. Property is offered in as is where is condition. There has been a leak in one of the units and is gutted down to the studs. Newer HVAC, Roof and Electric. Large Lot with a Shop.

18. 2025-04-01
    listed $169,900 Active
19. 2006-07-21
    soldstatus
20. 2006-02-21
    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: $629 · $52/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$681/yr (+$57/mo · 108.3%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,675
• − Mortgage interest: −$7,562
• − Property taxes: −$629
• − Insurance: −$675
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$3,927
• Taxable income: $1,214
• Est. tax owed @ 24.0%: −$291
• After-tax cash flow: $3,083/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): 13,692
• Household income: $28,165
• Rent vs Own: 87.3% rent · 12.7% own
• Severe rent burden: 1966.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 8% Hispanic / Latino 7% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -27.72%
• Current HPI: 208.8156
• Rent YoY: ▲ 4.17%
• 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

-20.5% since first listed

10 events — show timeline

• 2026-04-25 Price Changed $135,000 SOMO
• 2026-02-28 Price Changed $139,900 SOMO
• 2026-01-05 Price Changed $142,500 SOMO
• 2025-12-27 Price Changed $145,000 SOMO
• 2025-12-13 Price Changed $147,500 SOMO
• 2025-07-15 Price Changed $149,900 SOMO
• 2025-06-14 Listed $159,900 SOMO
• 2025-04-01 Listed $169,900 SOMO
• 2006-07-21 Sold (Public Records) — Public Records
• 2006-02-21 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $629 · +18.4% YoY. Source: county tax records.