2623 W Mount Vernon St · Springfield, MO 65802

$120,000

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 28 Days on market

Built 1943 7,841 sqft lot $107/sqft · 15% below area Est $141k · 15% 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 +19.2/30.0
• ARV discount +14.2/15.0
• DSCR +6.1/10.0
• 1% rule +4.0/10.0
• 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

As-is sale -- priced for investors. Currently tenant occupied at $1,224/month. Located in an established Springfield neighborhood near Zagonyi Park and within close proximity to Walmart Neighborhood Market on W Mt. Vernon St.

Key facts

• Near zagonyi park
• 7,841 sq ft lot
• Garage

Tags

• NEAR ZAGONYI PARK

Property features AI

Finance

• Other: Listing broker: Murney Associates - Primrose; Listing agent: Langston Group Group
• Financial info: Tax amount provided (financial specifics excluded per instructions)
• HOA & community: HOA details not provided

Exterior

• Parking: Attached or detached garage not specified, includes 1 garage space
• Security: Security details not provided
• Utilities: Public water supply; Public sewer
• Home design: Single-family residence; One story
• Construction: Construction details not provided; Year built not provided
• Exterior features: Public water; Public sewer; Lot approximately 0.18 acre; Located in the Westport subdivision; Directions: From Springfield, head west on W Mt. Vernon St from downtown. Continue west past N West Ave. Property will be on the right.

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Bedrooms located on main level
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating with forced air
• Interior features: One-level layout
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $108k (9.9% below list).
• Recommended offer: $108k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $830 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 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 1943 — 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 $108,119 (9.9% below list)

Questions for the listing agent

1. Built in 1943 — 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: 0.90% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (median comp): $140,843
• List price: $120,000
• Delta: -14.80%
• 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
2919 W Page St	0.51mi	3/2.0 (+1)	1,096 (-2%)	2mo	$176,500	$161	62
2223 W Elm St	0.40mi	2/1.0	993 (-11%)	1mo	$115,000	$116	62
903 S Scenic Ave	0.48mi	2/1.0	1,229 (+10%)	1mo	$144,900	$118	61
500 S Warren Ave	0.37mi	2/1.5	1,000 (-11%)	4mo	$149,900	$150	60
2041 W Elm St	0.54mi	2/1.0	1,028 (-8%)	2mo	$125,000	$122	59
2634 W Phelps St	0.58mi	3/1.0 (+1)	1,038 (-7%)	3mo	$135,000	$130	53
2552 W Madison St	0.32mi	3/2.0 (+1)	1,276 (+14%)	0mo	$225,020	$176	52
2940 W Walnut St	0.45mi	3/2.0 (+1)	1,008 (-10%)	3mo	$135,000	$134	51
3036 W Water St	0.65mi	3/1.5 (+1)	1,040 (-7%)	1mo	$135,000	$130	50
3121 W Harrison St	0.64mi	3/2.0 (+1)	1,052 (-6%)	1mo	$187,500	$178	50
521 N Warren Ave	0.70mi	2/1.0	1,260 (+12%)	2mo	$119,500	$95	45
3132 W College St	0.67mi	3/2.0 (+1)	1,272 (+14%)	3mo	$183,995	$145	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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-9,221
• Equity at exit: $17,892

10-year hold

• IRR: 4.2%
• Equity multiple: 1.33×
• Total profit: $10,992
• Equity at exit: $10,375

Cash invested: $33,600 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,081 high
• Mortgage (P&I): −$629
• Tax from tax record: −$45 /mo · $543/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $130

Break-even live

Break-even rent $917

Max offer price $120,000

Occupancy floor 83%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	43d	1	0.10mi
2412 W Lincoln St Springfield, MO	3.0	1.0	1260	$1,295	$1.03	23d	1	0.20mi
2602 W College St Springfield, MO	2.0	1.0	1350	$995	$0.74	13d	1	0.26mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	21d	1	0.38mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	13d	1	0.48mi
3002 W Elm St Springfield, MO	3.0	2.0	1128	$1,295	$1.15	21d	1	0.49mi
1020 S Clifton Ave Springfield, MO	2.0	2.0	1010	$950	$0.94	23d	1	0.55mi
3028 W Walnut St Springfield, MO	2.0	1.0	975	$850	$0.87	21d	1	0.56mi
1040 S Clifton Ave Springfield, MO	2.0	2.0	1010	$945	$0.94	13d	1	0.61mi
547 S Hilton Ave Springfield, MO	3.0	1.0	1008	$1,175	$1.17	43d	1	0.77mi
250 N Hilton Ave Springfield, MO	2.0	2.0	1153	$628	$0.54	13d	1	0.79mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	13d	1	0.81mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	43d	1	0.83mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	23d	1	0.84mi
1152 S Hillcrest Ave Springfield, MO	3.0	1.5	1240	$1,300	$1.05	43d	1	0.89mi
1365 S Scenic Ave Springfield, MO	3.0	2.0	1328	$1,550	$1.17	13d	1	0.98mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	43d	1	1.00mi
1500 W Grand St Springfield, MO	2.0–3.0	1.0–1.5	1365	$1,245	$0.91	13d	3	1.13mi
539 S Fort Ave Springfield, MO	2.0	1.0	1500	$1,025	$0.68	13d	1	1.15mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	23d	1	1.15mi
1735 W Bennett St Springfield, MO	1.0	1.0	800	$1,124	$1.41	13d	2	1.22mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	13d	3	1.23mi
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	23d	1	1.35mi
1625 S Marion Ave Springfield, MO	1.0–2.0	1.0–2.0	900	$1,321	$1.47	13d	5	1.39mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	43d	1	1.40mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	43d	1	1.44mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	13d	1	1.44mi
412 S Duke Ave Springfield, MO	3.0	1.0	1400	$1,585	$1.13	13d	1	1.44mi
1634 S Marion Ave Springfield, MO	3.0	1.0–2.0	845	$1,404	$1.66	13d	23	1.46mi

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 28 DOM
2. 2026-06-17
   days on market $120,000 Active 27 DOM
3. 2026-06-16
   days on market $120,000 Active 26 DOM
4. 2026-06-15
   days on market $120,000 Active 25 DOM
5. 2026-06-14
   days on market $120,000 Active 23 DOM
6. 2026-06-10
   days on market $120,000 Active 20 DOM
7. 2026-06-09
   days on market $120,000 Active 19 DOM
8. 2026-06-08
   days on market $120,000 Active 18 DOM
9. 2026-06-07
   days on market $120,000 Active 17 DOM
10. 2026-06-03
    days on market $120,000 Active 13 DOM
11. 2026-06-02
    days on market $120,000 Active 12 DOM
12. 2026-06-01
    days on market $120,000 Active 11 DOM
13. 2026-05-31
    statusdays on market $120,000 Active 10 DOM
14. 2026-05-14
    listed $120,000 Active 225-char remark
15. 2019-05-24
    soldstatus $350,000
16. 2016-07-01
    listed $99,900
17. 2014-03-12
    listed $75,600

ⓘ 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: $543 · $45/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$621/yr (+$52/mo · 114.5%)

ⓘ 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 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: $12,974
• − Mortgage interest: −$6,722
• − Property taxes: −$543
• − Insurance: −$600
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$3,491
• Taxable loss: −$457
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $1,665/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

+58.7% since first listed

6 events — show timeline

• 2026-05-30 Relisted — SOMO
• 2026-05-23 Pending — SOMO
• 2026-05-14 Listed $120,000 SOMO
• 2019-05-24 Sold (Public Records) $350,000 Public Records
• 2016-07-01 Listed $99,900 SOMO
• 2014-03-12 Listed $75,600 SOMO

Property tax history

+2.2%/yr

Latest (2025): $543 · +22.6% YoY. Source: county tax records.