404 E Evergreen St · Springfield, MO 65803

$130,000

4 bd · 2.0 ba · 1,752 sqft · SingleFamily public records · 3 Days on market

Built 1917 2.00 ac lot Est $221k · 41% under

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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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.0/10.0
• 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

Listing remarks MLS

''Country in the City'' A bit of a hide away right in town! 2 acres, a unique home with lots of space and tons of possibilities! Living room, dining room, a family room in the back, 3 bedrooms on the main level and 2 baths and a loft style 4th bedroom. 24 x 24 detached garage, plus an almost new 2nd shop building. Seller providing a 1 year HSA Home Warranty for buyer. This would be a fun place to live.

Key facts

• Expansive lot
• Adu potential
• Custom renovation

Tags

• CUSTOM RENOVATION
• ORIGINAL CEDAR SIDING
• OVERSIZED DETACHED GARAGE
• EXPANSIVE LOT
• ADU POTENTIAL
• MULTI-GENERATIONAL LIVING

Property features AI

Finance

• Other: Outbuilding on the property; Approximately 2 acres

Exterior

• Parking: 3-car garage
• Utilities: Public water; Public sewer; Propane utility
• Home design: Single-family residence; One and one-half story
• Construction: Wood siding; Composition roof
• Exterior features: Garden; Patio; Storm doors

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating and cooling; Forced air heating; Propane heating
• Interior features: Carpet and laminate flooring; Ceiling fans
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.0% 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: Watkins Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 250 students, 82% FRL); Hillcrest High (math 9% / reading 35%, grade F, #462 of 521 statewide, top 90%, 1,017 students, 64% FRL) — zoned schools average 73% FRL vs 46% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 39% district-wide (-16 pts) — the specific schools serving this property underperform the Springfield R-XII average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.2%/yr); 394 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).
• This rent runs 37% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1917 — 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: 1.20% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.19%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $220,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 E Evergreen St	0.00mi	4/2.0	1,752 (0%)	0mo	$130,000	$74	100
2816 N Washington Ave	0.20mi	3/2.0 (-1)	1,700 (-3%)	6mo	$267,400	$157	75
2650 N Pierce Ave	0.41mi	3/2.0 (-1)	1,632 (-7%)	6mo	$225,000	$138	59
645 E Livingston St	0.29mi	3/2.0 (-1)	1,553 (-11%)	6mo	$215,000	$138	58
818 W Woodridge St	0.64mi	4/2.0	1,698 (-3%)	13mo	$189,900	$112	54
802 E Smith St	0.54mi	3/2.5 (-1)	1,640 (-6%)	6mo	$240,000	$146	52
2675 N National Ave	0.75mi	3/2.0 (-1)	1,667 (-5%)	0mo	$210,000	$126	52
418 W Bell St	0.31mi	3/2.0 (-1)	1,587 (-9%)	18mo	$199,900	$126	49
906 E Caravan St	0.66mi	3/1.5 (-1)	1,583 (-10%)	0mo	$224,900	$142	46
1005 E Mccanse St	0.58mi	4/2.0	1,921 (+10%)	16mo	$210,000	$109	44
2528 N Pierce Ave	0.53mi	3/1.5 (-1)	1,552 (-11%)	16mo	$99,900	$64	35
817 W Talmage St	0.72mi	3/2.0 (-1)	1,495 (-15%)	5mo	$169,900	$114	33

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: 4.5%
• Equity multiple: 1.18×
• Total profit: $6,381
• Equity at exit: $19,383

10-year hold

• IRR: 15.0%
• Equity multiple: 2.28×
• Total profit: $46,623
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$99 /mo · $1,187/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $400

Break-even live

Break-even rent $1,057

Max offer price $130,000

Occupancy floor 69%

Sensitivity live

Price	-10% $474	-5% $437	+0% $400	+5% $363	+10% $327
Rent	-10% $277	-5% $338	+0% $400	+5% $462	+10% $524
Rate	-1.0pp $466	-0.5pp $433	base $400	+0.5pp $366	+1.0pp $332

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3218 N National Ave Springfield, MO	3.0	2.0	1482	$1,495	$1.01	44d	1	0.91mi
3538 N Rogers Ave Springfield, MO	3.0	1.5	1232	$1,395	$1.13	24d	1	1.28mi
STE Springfield, MO	3.0	2.0	1477	$1,600	$1.08	14d	2	1.45mi

Listing history 5 events

1. 2026-05-30
   status $130,000 Pending 3 DOM
2. 2026-03-18
   listed $200,000 Active 651-char remark
3. 2017-09-11
   soldstatus
4. 2017-09-08
   soldstatus 405-char remark

   Show marketing remark (405 chars)

   ''Country in the City'' A bit of a hide away right in town! 2 acres, a unique home with lots of space and tons of possibilities! Living room, dining room, a family room in the back, 3 bedrooms on the main level and 2 baths and a loft style 4th bedroom. 24 x 24 detached garage, plus an almost new 2nd shop building. Seller providing a 1 year HSA Home Warranty for buyer. This would be a fun place to live.

5. 2017-05-18
   listed $119,900 405-char remark

   Show marketing remark (405 chars)

   ''Country in the City'' A bit of a hide away right in town! 2 acres, a unique home with lots of space and tons of possibilities! Living room, dining room, a family room in the back, 3 bedrooms on the main level and 2 baths and a loft style 4th bedroom. 24 x 24 detached garage, plus an almost new 2nd shop building. Seller providing a 1 year HSA Home Warranty for buyer. This would be a fun place to live.

ⓘ 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: $1,187 · $99/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$74/yr (+$6/mo · 6.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 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: $18,760
• − Mortgage interest: −$7,282
• − Property taxes: −$1,187
• − Insurance: −$650
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$3,782
• Taxable income: $2,857
• Est. tax owed @ 24.0%: −$686
• After-tax cash flow: $4,116/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

+8.4% since first listed

7 events — show timeline

• 2026-06-10 Sold (MLS) — SOMO
• 2026-05-29 Pending — SOMO
• 2026-05-26 Listed $130,000 SOMO
• 2026-03-18 Listed $200,000 SOMO
• 2017-09-11 Sold (Public Records) — Public Records
• 2017-09-08 Sold (MLS) — SOMO
• 2017-05-18 Listed $119,900 SOMO

Property tax history

+5.2%/yr

Latest (2025): $1,187 · -49.8% YoY. Source: county tax records.