2540 W State St · Springfield, MO 65802

$85,000

2 bd · 1.0 ba · 696 sqft · SingleFamily public records · 14 Days on market

Built 1950 7,841 sqft lot $122/sqft · 30% below area Est $122k · 30% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.8/10.0
• 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

Step into this charming, cottage-style home where simplicity meets opportunity. Nestled on a spacious lot, this inviting property welcomes you with a cozy exterior and a sense of warmth that immediately feels like home. As you enter, you're greeted by a light-filled living area--perfect for relaxing evenings or hosting friends. The layout flows easily into a functional kitchen space, offering just the right amount of room to cook, gather, and make it your own. Whether you're envisioning modern updates or keeping its classic character, the possibilities here are endless. The home features two comfortable bedrooms and a well-appointed bathroom, creating an efficient and practical layout ideal

Key facts

• Spacious lot
• Cottage style home
• 7,841 sq ft lot

Tags

• COTTAGE STYLE HOME
• SPACIOUS LOT
• LIGHT FILLED LIVING AREA
• FUNCTIONAL KITCHEN SPACE
• GENEROUSLY SIZED YARD

Property features AI

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Metal siding, vinyl siding, and stone exterior; Composition roof
• Exterior features: Covered front porch; Has a view; Level lot; Public maintained road frontage on a city street

Interior

• Kitchen: Gas oven / range
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Gas oven; Free‑standing gas range; Gas water heater; Laminate flooring
• Laundry & utility: Laundry on main level

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 $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $85k).
• Cap rate 9.2% 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); 512 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $588 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $85,000

Questions for the listing agent

1. Built in 1950 — 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: 1.08% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (median comp): $121,603
• List price: $85,000
• Delta: -30.10%
• 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
2411 W Madison St	0.18mi	2/1.0	711 (+2%)	13mo	$123,000	$173	77
2606 W State St	0.07mi	2/1.0	783 (+12%)	6mo	$40,000	$51	71
2530 W Lincoln St	0.21mi	2/1.0	750 (+8%)	12mo	$125,000	$167	67
2521 W State St	0.05mi	1/1.0 (-1)	792 (+14%)	13mo	$40,000	$51	58
229 N Scenic Ave	0.52mi	2/1.0	664 (-5%)	12mo	$87,500	$132	58
2831 W Elm St	0.48mi	2/1.0	770 (+11%)	4mo	$106,000	$138	57
207 N Forest Ave	0.49mi	2/1.0	624 (-10%)	6mo	$125,000	$200	55
700 S Forest Ave	0.20mi	2/1.0	784 (+13%)	18mo	$89,900	$115	55
2617 W Elm St	0.32mi	2/1.0	784 (+13%)	16mo	$129,900	$166	51
2015 W Mt Vernon St	0.51mi	1/1.0 (-1)	672 (-3%)	18mo	$60,000	$89	50
3046 W Lombard St	0.72mi	2/1.0	764 (+10%)	13mo	$155,000	$203	39
2956 W Olive St	0.73mi	1/1.0 (-1)	780 (+12%)	9mo	$159,900	$205	34

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $983
• Equity at exit: $12,674

10-year hold

• IRR: 12.3%
• Equity multiple: 2.05×
• Total profit: $24,876
• Equity at exit: $7,349

Cash invested: $23,800 (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: 7.7×

Monthly cashflow live

• Estimated rent: $919 high
• Mortgage (P&I): −$446
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $205

Break-even live

Break-even rent $660

Max offer price $85,000

Occupancy floor 73%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	44d	1	0.25mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	23d	1	0.52mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	44d	1	0.63mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	13d	1	0.83mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	44d	1	0.84mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	44d	1	1.12mi
1634 S Marion Ave Springfield, MO	3.0	1.0–2.0	845	$1,404	$1.66	13d	23	1.31mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	44d	1	1.39mi

Listing history 3 events

1. 2026-05-06
   listed $85,000 Active 1287-char remark
2. 2022-03-22
   soldstatus
3. 1999-11-01
   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: $479 · $40/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$346/yr (+$29/mo · 72.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 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: $11,032
• − Mortgage interest: −$4,761
• − Property taxes: −$479
• − Insurance: −$425
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$2,473
• Taxable income: $1,129
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $2,192/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

5 events — show timeline

• 2026-06-15 Sold (MLS) — SOMO
• 2026-05-20 Pending — SOMO
• 2026-05-06 Listed $85,000 SOMO
• 2022-03-22 Sold (Public Records) — Public Records
• 1999-11-01 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $479 · +23.6% YoY. Source: county tax records.