3235 W State St · Springfield, MO 65802

$84,900

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 10 Days on market

Built 1943 0.46 ac lot Est $127k · 33% under ↓ 7% since listing

---

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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom, one bath home on the west side. Covered porch and large fenced yard.

Key facts

• Brand-new drywall
• Detached garage
• Fixer-upper

Tags

• DETACHED GARAGE
• BRAND-NEW DRYWALL
• FIXER-UPPER
• ENDLESS POSSIBILITIES

Property features AI

Finance

• Other: Lot approximately 0.46 acre

Exterior

• Parking: 1-car garage; Driveway; Garage faces front
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Exterior features: Front porch

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas central heating; No cooling
• Interior features: Insulated windows; Double-pane windows
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 10.2% 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: Westport Elem. (math 8% / reading 17%, grade F, #1,007 of 1,115 statewide, top 91%, 384 students, 88% FRL); Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools average 69% FRL vs 46% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 513 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $587 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1943 — 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 $84,900

Questions for the listing agent

1. Built in 1943 — 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. 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?
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: 1.19% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.92%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $126,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2939 W Grand St	0.49mi	2/1.0	840 (0%)	1mo	$115,000	$137	76
3203 W Harrison St	0.10mi	3/1.0 (+1)	884 (+5%)	12mo	$110,000	$124	72
3242 W Page St	0.20mi	2/1.0	912 (+9%)	8mo	$117,000	$128	70
2946 W Elm St	0.45mi	2/1.0	896 (+7%)	6mo	$118,000	$132	64
2831 W Elm St	0.59mi	2/1.0	770 (-8%)	4mo	$106,000	$138	56
549 S Hillcrest Ave	0.37mi	3/1.0 (+1)	906 (+8%)	12mo	$159,500	$176	55
2900 W Lombard St	0.51mi	2/1.0	896 (+7%)	13mo	$30,000	$33	55
433 S Nolting Ave	0.33mi	3/1.0 (+1)	960 (+14%)	6mo	$155,000	$161	51
2716 W Elm St	0.71mi	2/1.0	884 (+5%)	9mo	$134,900	$153	51
2956 W Olive St	0.60mi	1/1.0 (-1)	780 (-7%)	9mo	$159,900	$205	48
1141 S Hillcrest Ave	0.61mi	3/1.0 (+1)	960 (+14%)	4mo	$165,000	$172	39
1164 S Hillcrest Ave	0.67mi	3/1.0 (+1)	960 (+14%)	4mo	$145,000	$151	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: 6.0%
• Equity multiple: 1.24×
• Total profit: $5,676
• Equity at exit: $12,659

10-year hold

• IRR: 16.9%
• Equity multiple: 2.49×
• Total profit: $35,522
• Equity at exit: $7,341

Cash invested: $23,772 (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: 513
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,014 high
• Mortgage (P&I): −$445
• Tax from tax record: −$45 /mo · $539/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $276

Break-even live

Break-even rent $665

Max offer price $84,900

Occupancy floor 68%

Sensitivity live

Price	-10% $324	-5% $300	+0% $276	+5% $252	+10% $228
Rent	-10% $196	-5% $236	+0% $276	+5% $316	+10% $356
Rate	-1.0pp $319	-0.5pp $297	base $276	+0.5pp $254	+1.0pp $231

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
547 S Hilton Ave Springfield, MO	3.0	1.0	1008	$1,175	$1.17	45d	1	0.15mi
3028 W Walnut St Springfield, MO	2.0	1.0	975	$850	$0.87	22d	1	0.41mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	22d	1	0.54mi
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	45d	1	0.73mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	24d	1	0.82mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	45d	1	0.87mi
1020 S Clifton Ave Springfield, MO	2.0	2.0	1010	$950	$0.94	24d	1	0.90mi
1040 S Clifton Ave Springfield, MO	2.0	2.0	1010	$945	$0.94	14d	1	0.93mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	14d	1	1.15mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	45d	1	1.18mi
4149 W Burbank St Unit A Springfield, MO	2.0	1.0	1000	$900	$0.90	45d	1	1.30mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	45d	1	1.31mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	45d	1	1.33mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	24d	1	1.36mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	45d	1	1.42mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	45d	1	1.43mi

Listing history 8 events

1. 2026-06-18
   days on market $84,900 Active 10 DOM
2. 2026-06-17
   days on market $84,900 Active 9 DOM
3. 2026-06-16
   days on market $84,900 Active 8 DOM
4. 2026-06-15
   days on market $84,900 Active 7 DOM
5. 2026-06-14
   days on market $84,900 Active 5 DOM
6. 2026-06-10
   days on market $84,900 Active 2 DOM
7. 2026-06-09
   remarks 566-char remark
8. 2026-06-09
   listed $84,900 Active 1 DOM

ⓘ 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: $539 · $45/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$285/yr (+$24/mo · 52.9%)

ⓘ 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 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: $12,171
• − Mortgage interest: −$4,756
• − Property taxes: −$539
• − Insurance: −$424
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$2,470
• Taxable income: $2,035
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $2,821/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

-7.2% since first listed

18 events — show timeline

• 2026-06-08 Listed $84,900 SOMO
• 2025-02-06 Pending — SOMO
• 2025-01-31 Price Changed $60,000 SOMO
• 2025-01-06 Relisted — SOMO
• 2024-11-06 Relisted — SOMO
• 2024-11-05 Delisted — SOMO
• 2024-10-05 Relisted — SOMO
• 2024-10-05 Delisted — SOMO
• 2024-09-11 Relisted — SOMO
• 2024-09-11 Price Changed $65,000 SOMO
• 2024-09-07 Delisted — SOMO
• 2024-09-05 Relisted — SOMO
• 2024-09-05 Delisted — SOMO
• 2024-08-05 Listed $80,000 SOMO
• 2019-05-06 Sold (MLS) — SOMO
• 2019-02-13 Listed $31,600 SOMO
• 2018-12-10 Listed $60,000 SOMO
• 2016-07-21 Listed $91,450 SOMO

Property tax history

+2.0%/yr

Latest (2025): $539 · +30.4% YoY. Source: county tax records.