829 N Farmer Ave · Springfield, MO 65802

$115,000

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 35 Days on market

Built 1955 5,663 sqft lot $130/sqft · 14% below area Est $134k · 14% under

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +14.0/15.0
• DSCR +5.3/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property being sold as-is.

Key facts

• 5,663 sq ft lot
• Built 1955
• Listed 35 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: 888 above-grade finished area
• Exterior features: 0.13-acre lot; Subdivision: Greene-Not in List; Directions: From Chestnut Expy, turn north on N Farmer Ave, go about 0.2 miles, and 829 N Farmer will be on your left.

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Other heating; No cooling
• Interior features: One full bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $77 ($928/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (15.9% below list).
• Recommended offer: $97k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Zoned-school proficiency averages 52% at this address vs 39% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Springfield R-XII average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.8%/yr); 512 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $795 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 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 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 $96,720 (15.9% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.88%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (median comp): $134,257
• List price: $115,000
• Delta: -14.34%
• 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
827 N Marion Ave	0.27mi	2/1.0	871 (-2%)	3mo	$115,000	$132	82
659 N Lafontaine Ave	0.26mi	3/1.0 (+1)	876 (-1%)	1mo	$164,900	$188	79
2017 W Calhoun St	0.43mi	2/1.0	891 (+0%)	1mo	$142,500	$160	78
918 N Nettleton Ave	0.23mi	2/1.0	971 (+9%)	1mo	$105,000	$108	73
521 N Park Ave	0.47mi	3/1.0 (+1)	910 (+2%)	1mo	$85,000	$93	68
1521 W Hamilton St	0.45mi	2/1.0	825 (-7%)	1mo	$134,900	$164	67
717 N West Ave	0.65mi	2/1.0	909 (+2%)	0mo	$125,000	$138	65
2326 W Nichols St	0.53mi	2/1.0	945 (+6%)	1mo	$150,000	$159	64
2200 W Phelps St	0.51mi	3/1.0 (+1)	936 (+5%)	0mo	$135,900	$145	62
2019 W Webster St	0.38mi	2/1.0	1,004 (+13%)	0mo	$120,000	$120	60
1520 W Lynn St	0.48mi	3/1.0 (+1)	1,006 (+13%)	1mo	$130,000	$129	50
902 W Central St	0.72mi	2/1.0	1,008 (+14%)	2mo	$144,900	$144	42

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-11,957
• Equity at exit: $17,147

10-year hold

• IRR: 1.4%
• Equity multiple: 1.11×
• Total profit: $3,401
• Equity at exit: $9,943

Cash invested: $32,200 (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: 512
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $967 high
• Mortgage (P&I): −$603
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $77

Break-even live

Break-even rent $869

Max offer price $115,000

Occupancy floor 87%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	43d	1	0.13mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	23d	1	0.39mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	43d	1	0.48mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	23d	1	0.55mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	13d	1	0.58mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	23d	1	0.63mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	43d	1	0.67mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	13d	1	0.77mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	43d	1	0.80mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	43d	1	0.84mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	13d	3	0.88mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	23d	1	0.88mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	43d	1	0.91mi
733 W College St Springfield, MO	1.0	1.0	700	$750	$1.07	13d	1	1.01mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	43d	1	1.04mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	23d	1	1.05mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	23d	1	1.09mi
865 S Douglas Ave Springfield, MO	2.0	2.0	850	$895	$1.05	13d	4	1.09mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	13d	1	1.11mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	43d	1	1.12mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	43d	1	1.13mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	13d	4	1.17mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	23d	5	1.17mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	13d	1	1.19mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	43d	1	1.19mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	23d	5	1.21mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	21d	5	1.21mi
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	43d	1	1.22mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	43d	1	1.27mi
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	23d	1	1.27mi
305 S Campbell Ave Unit 208 Springfield, MO	1.0	1.0	649	$975	$1.50	13d	1	1.27mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	13d	1	1.28mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	13d	1	1.30mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	13d	8	1.30mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	43d	1	1.34mi
430 W Pershing St Springfield, MO	2.0	2.0	765	$1,195	$1.56	13d	1	1.34mi
209 W McDaniel St Unit 209-207 Springfield, MO	1.0	1.0	700	$950	$1.36	43d	1	1.35mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	21d	1	1.36mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	43d	1	1.37mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	43d	1	1.38mi

Listing history 20 events

1. 2026-06-18
   days on market $115,000 Active 35 DOM
2. 2026-06-17
   days on market $115,000 Active 34 DOM
3. 2026-06-16
   days on market $115,000 Active 33 DOM
4. 2026-06-15
   days on market $115,000 Active 32 DOM
5. 2026-06-14
   days on market $115,000 Active 30 DOM
6. 2026-06-10
   days on market $115,000 Active 27 DOM
7. 2026-06-09
   days on market $115,000 Active 26 DOM
8. 2026-06-08
   days on market $115,000 Active 25 DOM
9. 2026-06-07
   days on market $115,000 Active 24 DOM
10. 2026-06-03
    days on market $115,000 Active 20 DOM
11. 2026-06-02
    days on market $115,000 Active 19 DOM
12. 2026-06-01
    days on market $115,000 Active 18 DOM
13. 2026-05-31
    days on market $115,000 Active 17 DOM
14. 2026-05-30
    days on market $115,000 Active 16 DOM
15. 2026-05-14
    listed $115,000 Active 26-char remark
16. 2019-04-18
    soldstatus $350,000
17. 2016-02-29
    listed $84,900
18. 2007-07-30
    soldstatus
19. 2007-02-26
    soldstatus
20. 1999-10-01
    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: $429 · $36/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$687/yr (+$57/mo · 160.0%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $11,606
• − Mortgage interest: −$6,442
• − Property taxes: −$429
• − Insurance: −$575
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$3,345
• Taxable loss: −$1,042
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $1,178/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

+35.5% since first listed

6 events — show timeline

• 2026-05-14 Listed $115,000 SOMO
• 2019-04-18 Sold (Public Records) $350,000 Public Records
• 2016-02-29 Listed $84,900 SOMO
• 2007-07-30 Sold (Public Records) — Public Records
• 2007-02-26 Sold (Public Records) — Public Records
• 1999-10-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $429 · +17.6% YoY. Source: county tax records.