2326 N Farmer Ave · Springfield, MO 65803

$75,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 281 Days on market

Built 1955 Fair condition 0.25 ac lot $87/sqft · 39% below area Est $127k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New roof on nice older home

Key facts

• New roof
• 0.25 acre lot
• Garage

Tags

• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 4.5% 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: Williams Elem. (math 12% / reading 22%, grade F, #967 of 1,115 statewide, top 88%, 317 students, 85% FRL); Reed Middle (math 33% / reading 44%, grade F, #202 of 391 statewide, top 54%, 512 students, 70% 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 26% at this address vs 39% district-wide (-13 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); 593 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 48% 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.37% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.82%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (median comp): $127,100
• List price: $75,000
• Delta: -40.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2105 N Elizabeth Ave	0.36mi	2/1.0	830 (-4%)	5mo	$98,500	$119	72
1625 W High St	0.17mi	2/1.0	768 (-11%)	2mo	$105,000	$137	72
1526 W Dale St	0.33mi	2/1.0	936 (+8%)	1mo	$49,900	$53	70
1634 W Lee St	0.38mi	2/1.0	784 (-9%)	3mo	$86,900	$111	64
1330 W Atlantic St	0.51mi	2/1.0	800 (-7%)	2mo	$119,900	$150	62
925 W Chicago St	0.58mi	2/1.0	797 (-8%)	0mo	$79,900	$100	60
1121 W Florida St	0.69mi	2/2.0	844 (-2%)	1mo	$140,000	$166	59
1225 W Florida St	0.65mi	2/1.0	812 (-6%)	1mo	$110,000	$135	58
1121 W Florida St	0.69mi	2/2.0	844 (-2%)	4mo	$57,000	$68	56
800 W Della St	0.72mi	2/1.0	808 (-6%)	6mo	$114,900	$142	51
920 W Talmage St	0.67mi	2/1.0	784 (-9%)	5mo	$135,000	$172	49
2074 N Columbia Ave	0.71mi	3/1.0 (+1)	924 (+7%)	4mo	$100,000	$108	47

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $11,215
• Equity at exit: $11,183

10-year hold

• IRR: 22.9%
• Equity multiple: 3.08×
• Total profit: $43,588
• Equity at exit: $6,485

Cash invested: $21,000 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 30 active · 26 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $114,950 ($128/sqft)
• Median days on market: 54 d
• This list price: 13% of active listings are priced below it
• ARV vs active asking: +14.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 593
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,026 high
• Mortgage (P&I): −$393
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $347

Break-even live

Break-even rent $586

Max offer price $75,000

Occupancy floor 61%

Sensitivity live

Price	-10% $389	-5% $368	+0% $347	+5% $326	+10% $304
Rent	-10% $266	-5% $306	+0% $347	+5% $387	+10% $428
Rate	-1.0pp $385	-0.5pp $366	base $347	+0.5pp $327	+1.0pp $308

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: $18,750
• Closing costs: $2,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	109d	1	0.25mi
1707 W Dale St Springfield, MO	3.0	1.0	936	$1,150	$1.23	5d	1	0.28mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	139d	1	0.28mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	139d	1	0.48mi
1701 W Thoman St Springfield, MO	2.0	1.0	730	$795	$1.09	0d	1	0.50mi
1626 W Thoman St Springfield, MO	3.0	1.0	900	$1,050	$1.17	0d	1	0.53mi
1746 W Thoman St Springfield, MO	3.0	2.0	1064	$1,495	$1.41	6d	1	0.54mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	139d	1	0.67mi
1021 W Chase St Springfield, MO	2.0	1.0	832	$950	$1.14	3d	1	0.80mi
2224 N Clifton Ave Unit 2238-A Springfield, MO	2.0	1.0	756	$695	$0.92	109d	1	0.83mi
2224 N Clifton Ave Unit 2224-B Springfield, MO	2.0	1.0	700	$750	$1.07	5d	1	0.83mi
1632 N Irving Ave Springfield, MO	2.0	1.0	816	$1,100	$1.35	6d	1	0.98mi
2456 N Homewood Ave Springfield, MO	3.0	1.0	962	$1,250	$1.30	1d	1	1.06mi
2230 N Campbell Ave Springfield, MO	2.0	1.0	1084	$1,095	$1.01	139d	1	1.06mi
1910 N Lyon Ave Unit B Springfield, MO	3.0	1.0	1023	$1,095	$1.07	6d	1	1.07mi
1910 N Lyon Ave Unit Back Springfield, MO	1.0	1.0	650	$895	$1.38	6d	1	1.07mi
1340 N Wabash Ave Springfield, MO	2.0	1.0	672	$945	$1.41	6d	1	1.15mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	119d	1	1.23mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	119d	1	1.25mi
1342 N Broadway Ave Unit 1 Springfield, MO	3.0	1.0	1100	$995	$0.90	6d	1	1.25mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	109d	1	1.25mi
2850 N Campbell Ave Apt S Springfield, MO	1.0	1.0	727	$750	$1.03	139d	1	1.26mi
203 W Commercial St Unit 3B Springfield, MO	2.0	1.0	974	$1,199	$1.23	6d	1	1.29mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	116d	1	1.29mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	109d	1	1.33mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	139d	1	1.35mi
1816 W Scott St Springfield, MO	2.0	1.0	854	$900	$1.05	6d	1	1.39mi
1410 W Nichols St Springfield, MO	2.0	1.0	884	$875	$0.99	3d	1	1.47mi
1910 N Benton Ave Springfield, MO	1.0	1.0	580	$750	$1.29	6d	1	1.48mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	139d	1	1.49mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	139d	1	1.49mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	139d	1	1.49mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	6d	1	1.49mi

Listing history 50 events

1. 2026-09-23
   days on market $75,000 Active 281 DOM
2. 2026-09-22
   days on market $75,000 Active 280 DOM
3. 2026-09-21
   days on market $75,000 Active 279 DOM
4. 2026-09-20
   days on market $75,000 Active 278 DOM
5. 2026-09-18
   days on market $75,000 Active 276 DOM
6. 2026-09-17
   days on market $75,000 Active 275 DOM
7. 2026-09-16
   days on market $75,000 Active 274 DOM
8. 2026-09-15
   days on market $75,000 Active 273 DOM
9. 2026-09-14
   days on market $75,000 Active 272 DOM
10. 2026-09-13
    days on market $75,000 Active 271 DOM
11. 2026-09-12
    days on market $75,000 Active 270 DOM
12. 2026-09-11
    days on market $75,000 Active 269 DOM
13. 2026-09-05
    days on market $75,000 Active 263 DOM
14. 2026-09-04
    days on market $75,000 Active 262 DOM
15. 2026-09-03
    days on market $75,000 Active 261 DOM
16. 2026-08-31
    days on market $75,000 Active 258 DOM
17. 2026-08-30
    days on market $75,000 Active 257 DOM
18. 2026-08-29
    days on market $75,000 Active 256 DOM
19. 2026-08-28
    days on market $75,000 Active 255 DOM
20. 2026-08-27
    days on market $75,000 Active 254 DOM
21. 2026-08-25
    days on market $75,000 Active 252 DOM
22. 2026-08-24
    days on market $75,000 Active 251 DOM
23. 2026-08-23
    days on market $75,000 Active 250 DOM
24. 2026-08-22
    days on market $75,000 Active 249 DOM
25. 2026-08-21
    days on market $75,000 Active 248 DOM
26. 2026-08-20
    days on market $75,000 Active 247 DOM
27. 2026-08-19
    days on market $75,000 Active 246 DOM
28. 2026-08-18
    days on market $75,000 Active 245 DOM
29. 2026-08-17
    days on market $75,000 Active 244 DOM
30. 2026-08-16
    days on market $75,000 Active 243 DOM
31. 2026-08-15
    days on market $75,000 Active 242 DOM
32. 2026-08-14
    days on market $75,000 Active 241 DOM
33. 2026-08-13
    days on market $75,000 Active 240 DOM
34. 2026-08-12
    days on market $75,000 Active 239 DOM
35. 2026-08-11
    days on market $75,000 Active 238 DOM
36. 2026-08-10
    days on market $75,000 Active 237 DOM
37. 2026-08-09
    days on market $75,000 Active 236 DOM
38. 2026-08-08
    days on market $75,000 Active 235 DOM
39. 2026-08-07
    days on market $75,000 Active 234 DOM
40. 2026-08-06
    days on market $75,000 Active 233 DOM
41. 2026-08-05
    days on market $75,000 Active 232 DOM
42. 2026-08-04
    days on market $75,000 Active 231 DOM
43. 2026-08-03
    days on market $75,000 Active 230 DOM
44. 2026-07-31
    days on market $75,000 Active 227 DOM
45. 2026-07-30
    days on market $75,000 Active 226 DOM
46. 2026-07-29
    days on market $75,000 Active 225 DOM
47. 2026-07-27
    days on market $75,000 Active 223 DOM
48. 2026-07-25
    days on market $75,000 Active 221 DOM
49. 2026-07-24
    days on market $75,000 Active 220 DOM
50. 2026-07-23
    days on market $75,000 Active 219 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: $465 · $39/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$263/yr (+$22/mo · 56.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 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: $12,306
• − Mortgage interest: −$4,201
• − Property taxes: −$465
• − Insurance: −$375
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$2,182
• Taxable income: $3,114
• Est. tax owed @ 24.0%: −$747
• After-tax cash flow: $3,415/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $21,600–$38,880 screening

A fair condition home with a new roof, but needs exterior repairs and landscaping improvements to increase its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good

Repairs flagged

• Moderate Exterior siding — Weathered and faded appearance.
• Minor Landscaping — Overgrown and needs trimming.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value. ↑
• Both Trim landscaping — Improves curb appeal and makes the property more attractive for potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Williams Elem. F MO #967/1,115 Nat'l #35,191/41,679 Middle Reed Middle F MO #202/391 Nat'l #6,453/14,009 High Hillcrest High F MO #462/521 Nat'l #13,673/17,239

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

B Composite livability gradescore 75/100

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 · 319,054 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: 11% of renters

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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%

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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%

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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

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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

• 2025-12-15 Listed $75,000 SOMO
• 2023-01-03 Sold (Public Records) — Public Records
• 2004-04-29 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $465 · +8.3% YoY. Source: county tax records.