3025 W Hovey St · Springfield, MO 65802

$24,900

1 bd · 1.0 ba · 516 sqft · SingleFamily public records · 9 Days on market

Built 1948 3,920 sqft lot ↓ 9% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

THIS PROPERTY HAS AN ACCEPETED OFFER IN PLACE AND WILL SHOW PENDING IN THE MLS ONCE SIGNED DOCS HAVE BEEN RECEIVED FROM THE SELLER. Welcome to this adorable 1-bedroom, 1-bathroom gem! Perfectly situated on a corner lot, this home offers a wonderful sense of space and curb appeal from the moment you arrive. Step inside to discover an inviting interior highlighted by soaring high ceilings that create an open, airy atmosphere throughout. The heart of the home is the spacious kitchen, providing ample room for meal prep, storage, and dining--a rare find for a one-bedroom floor plan! Enjoy year-round comfort with the efficient mini-split system. Whether you are looking for a stylish starter home,

Key facts

• Mini-split system
• Spacious kitchen
• High ceilings

Tags

• CORNER LOT
• HIGH CEILINGS
• SPACIOUS KITCHEN
• MINI-SPLIT SYSTEM

Property features AI

Finance

• Other: Property located in the Hancock Place subdivision
• Financial info: Details not provided
• HOA & community: Details not provided

Exterior

• Parking: 1-car garage
• Security: Details not provided
• Utilities: Public water; Sewer: Other
• Home design: Single-family residence; One level
• Construction: Composition roof; Slab foundation; Residential construction
• Exterior features: Covered front porch; Corner, level lot; Asphalt road frontage on a city street (publicly maintained)

Interior

• Kitchen: Laminate counters
• Bedrooms: Details not provided
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Laminate counters; Carpet and vinyl flooring
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($831 rent vs $25k).
• Cap rate 30.0% 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: Bissett Elem. (math 22% / reading 27%, grade F, #879 of 1,115 statewide, top 81%, 215 students, 86% FRL); Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools average 68% FRL vs 46% district-wide (22 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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 1948 — 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 $24,900

Questions for the listing agent

1. Built in 1948 — 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: 3.34% ✓
• Cap rate: 30.02%
• Cash-on-cash: 84.75%
• DSCR: 4.77
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.82% rent growth · sell at horizon

5-year hold

• IRR: 87.2%
• Equity multiple: 5.14×
• Total profit: $28,882
• Equity at exit: $3,713

10-year hold

• IRR: 90.7%
• Equity multiple: 11.35×
• Total profit: $72,162
• Equity at exit: $2,153

Cash invested: $6,972 (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: 2.5×

Monthly cashflow live

• Estimated rent: $831 high
• Mortgage (P&I): −$131
• Tax from tax record: −$23 /mo · $280/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $492

Break-even live

Break-even rent $208

Max offer price $24,900

Occupancy floor 36%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	44d	1	0.58mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	23d	1	1.09mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	44d	1	1.13mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	44d	1	1.21mi
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	44d	1	1.37mi

Listing history 12 events

1. 2026-06-14
   statusdays on market $24,900 Pending 9 DOM
2. 2026-06-10
   days on market $24,900 Active 7 DOM
3. 2026-06-09
   days on market $24,900 Active 6 DOM
4. 2026-06-08
   days on market $24,900 Active 5 DOM
5. 2026-06-07
   days on market $24,900 Active 4 DOM
6. 2026-06-03
   statusdays on marketlisting id $24,900 Active 1 DOM
7. 2026-04-23
   listed $24,900 Active
8. 2016-03-28
   soldstatus
9. 2016-03-25
   soldstatus 249-char remark
10. 2016-02-26
    listed $19,900 249-char remark
11. 2014-10-13
    listed $27,500
12. 2008-07-21
    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: $280 · $23/mo
• Projected year-2 tax: $280 · $23/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $9,974
• − Mortgage interest: −$1,395
• − Property taxes: −$280
• − Insurance: −$124
• − Repairs & maintenance: −$798
• − Management: −$798
• − Depreciation: −$724
• Taxable income: $5,855
• Est. tax owed @ 24.0%: −$1,405
• After-tax cash flow: $4,503/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

-9.5% since first listed

9 events — show timeline

• 2026-06-12 Pending — SOMO
• 2026-06-02 Listed $24,900 SOMO
• 2026-05-20 Listed $24,900 SOMO
• 2026-04-23 Listed $24,900 SOMO
• 2016-03-28 Sold (Public Records) — Public Records
• 2016-03-25 Sold (MLS) — SOMO
• 2016-02-26 Listed $19,900 SOMO
• 2014-10-13 Listed $27,500 SOMO
• 2008-07-21 Sold (Public Records) — Public Records

Property tax history

-3.1%/yr

Latest (2025): $280 · +17.6% YoY. Source: county tax records.