2310 -2312 E Pacific St · Springfield, MO 65803

$169,000

None bd · None ba · — sqft · MultiFamily · 655 Days on market

Built 1977 7,841 sqft lot Est $174k · 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +8.7/15.0
• 1% rule +7.4/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Nice investment property. 2-bedroom 1 bath units.

Key facts

• 2-bedroom units
• Investment property
• 7,841 sq ft lot

Tags

• INVESTMENT PROPERTY
• 2-BEDROOM UNITS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive. Per door: $241/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Market conditions: Rents rising fast (+4.2%/yr); 394 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $2,088/mo this rent would consume 50% of the median local household income ($51k/yr) (locally 1305% 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 $1k of loan paydown is wiped out by about $5k 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 + 4.2% rent growth), your $47k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 655 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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

• 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 $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 655 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (median comp): $173,528
• List price: $169,000
• Delta: -2.61%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1630 N Hayes Ave	0.12mi	4/2.0	1,300	3mo	$169,000	$130	80

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 · 4.24% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $5,957
• Equity at exit: $25,198

10-year hold

• IRR: 13.9%
• Equity multiple: 2.18×
• Total profit: $55,910
• Equity at exit: $14,612

Cash invested: $47,320 (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 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 394
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $482

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 72%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,088
Total (2 units)			$2,088

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1649 N Patterson Ave Unit B Springfield, MO	2.0	1.0	—	$950	—	23d	1	0.10mi
1825 N Oak Grove Ave Springfield, MO	3.0	1.0	852	$995	$1.17	43d	1	0.29mi
2223 N Link Ave Springfield, MO	3.0	2.0	—	$1,195	—	13d	1	0.72mi
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	43d	1	0.77mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	23d	1	1.04mi
2650 N Barnes Ave Unit A 23 Springfield, MO	3.0	2.0	1200	$1,200	$1.00	43d	1	1.08mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	23d	1	1.08mi
531 N Oak Grove Ave Springfield, MO	2.0	1.5	1184	$925	$0.78	43d	1	1.13mi
2650 N Barnes Ave Apt C22 Springfield, MO	2.0	2.0	1100	$1,000	$0.91	43d	1	1.14mi
504 N Patterson Ave Apt C Springfield, MO	2.0	1.0	760	$725	$0.95	43d	1	1.15mi
1722 N Fremont Ave Springfield, MO	1.0	1.0	—	$795	—	43d	1	1.17mi
2221 N Weller Ave Springfield, MO	3.0	2.0	1215	$1,395	$1.15	13d	1	1.21mi
2337 N Delaware Ave Springfield, MO	2.0	1.0	876	$1,195	$1.36	43d	1	1.23mi
2264 E Nora St Springfield, MO	3.0	1.5	1366	$1,200	$0.88	13d	1	1.24mi
1311 N Fremont Ave Springfield, MO	2.0	1.0	—	$995	—	23d	1	1.26mi
1339 E Division St Springfield, MO	3.0	2.0	1186	$1,350	$1.14	23d	1	1.29mi
1447 E Oakwood Ln Springfield, MO	2.0	2.0	982	$1,395	$1.42	43d	1	1.30mi
2054 N Rogers Ave Springfield, MO	2.0	1.0	888	$925	$1.04	13d	1	1.31mi
STE Springfield, MO	3.0	2.0	1477	$1,600	$1.08	13d	2	1.42mi
1636 N National Ave Springfield, MO	3.0	1.5	1000	$995	$0.99	43d	1	1.43mi
2313 N Rogers Ave Unit 1 Springfield, MO	2.0	2.0	882	$950	$1.08	13d	1	1.46mi
2154 E Cairo St Springfield, MO	3.0	2.0	1100	$1,395	$1.27	43d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $169,000 Active 655 DOM
2. 2026-06-17
   days on market $169,000 Active 654 DOM
3. 2026-06-16
   days on market $169,000 Active 653 DOM
4. 2026-06-15
   days on market $169,000 Active 652 DOM
5. 2026-06-14
   days on market $169,000 Active 650 DOM
6. 2026-06-10
   days on market $169,000 Active 647 DOM
7. 2026-06-09
   days on market $169,000 Active 646 DOM
8. 2026-06-08
   days on market $169,000 Active 645 DOM
9. 2026-06-07
   days on market $169,000 Active 644 DOM
10. 2026-06-03
    days on market $169,000 Active 640 DOM
11. 2026-06-02
    days on market $169,000 Active 639 DOM
12. 2026-06-01
    days on market $169,000 Active 638 DOM
13. 2026-05-31
    days on market $169,000 Active 637 DOM
14. 2026-05-30
    days on market $169,000 Active 636 DOM
15. 2024-09-12
    status Active 49-char remark

    Show marketing remark (49 chars)

    Nice investment property. 2-bedroom 1 bath units.

16. 2024-08-14
    status Pending 49-char remark

    Show marketing remark (49 chars)

    Nice investment property. 2-bedroom 1 bath units.

17. 2024-08-02
    listed $169,000 Active 49-char remark

    Show marketing remark (49 chars)

    Nice investment property. 2-bedroom 1 bath units.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,056
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$4,916
• Taxable income: $3,284
• Est. tax owed @ 24.0%: −$788
• After-tax cash flow: $4,991/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): 42,882
• Household income: $50,572
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1305.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -87.08%
• Current HPI: 205.0439
• Rent YoY: ▲ 4.24%
• 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

3 events — show timeline

• 2024-09-12 Relisted — SOMO
• 2024-08-14 Pending — SOMO
• 2024-08-02 Listed $169,000 SOMO