2038 N Weller Ave · Springfield, MO 65803

$137,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 36 Days on market

Built 1944 0.29 ac lot $156/sqft · 19% above area Est $141k · at est.

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Why this score? — see what drove the D- 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 +11.7/30.0
• ARV discount +8.7/15.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• DSCR +3.5/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A must see charming and move-in ready home! This 2 bed 1 bath home offers comfort, character, and several thoughtful updates. Featuring beautiful red oak hardwood floors and an easy flowing layout. The kitchen has been recently updated, adding a fresh modern touch while still complementing the home's original character. Additional updates throughout have this home ready for its next owner!Step outside to a spacious, fully fenced, backyard that truly sets this property apart. Whether you're hosting, relaxing around the fire pit, or giving pets room to roam, this space offers endless possibilities. With a roof approximately five years old and ample storage throughout, this is as practical as it is appealing. Schedule a showing today! Buyer to do own due diligence on schools, square footage, lot size, etc. Owner is licensed real estate salesperson.

Key facts

• Ample storage
• 0.29 acre lot
• Built 1944

Tags

• RED OAK HARDWOOD FLOORS
• FULLY FENCED BACKYARD
• RECENTLY UPDATED KITCHEN
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $-39 ($-467/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (27.5% below list).
• Recommended offer: $99k (27.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Robberson Elem. (math 27% / reading 32%, grade F, #813 of 1,115 statewide, top 75%, 166 students, 89% 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 74% FRL vs 46% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.2%/yr); 401 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $947 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 36 days — a 3% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 1944 — 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 $99,304 (27.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.22%
• DSCR: 0.95
• GRM: 11.5

CMA / ARV

• ARV (median comp): $140,625
• List price: $137,000
• Delta: -2.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2031 N Fremont Ave	0.16mi	2/1.0	866 (-2%)	6mo	$99,900	$115	84
2030 N Fremont Ave	0.14mi	2/1.5	906 (+3%)	3mo	$119,000	$131	84
1622 E Turner St	0.28mi	2/1.0	896 (+2%)	6mo	$130,000	$145	79
2111 N Rogers Ave	0.23mi	2/1.0	962 (+9%)	1mo	$165,000	$172	73
2036 N Prospect Ave	0.26mi	2/1.0	976 (+11%)	1mo	$125,000	$128	69
1433 E Division St	0.58mi	2/1.0	844 (-4%)	1mo	$115,000	$136	65
1601 N Rogers Ave	0.56mi	2/1.0	840 (-4%)	3mo	$129,900	$155	64
1433 E Commercial St	0.27mi	2/1.0	1,008 (+14%)	1mo	$124,900	$124	62
1078 E Blaine St	0.62mi	2/1.0	841 (-4%)	3mo	$109,900	$131	61
1719 N Weller	0.39mi	2/1.0	768 (-13%)	3mo	$129,000	$168	58
1840 E Turner St	0.51mi	3/2.0 (+1)	896 (+2%)	7mo	$159,950	$179	58
1112 E Dale St	0.51mi	2/1.0	988 (+12%)	1mo	$114,900	$116	55

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-23,484
• Equity at exit: $20,427

10-year hold

• IRR: -7.3%
• Equity multiple: 0.51×
• Total profit: $-18,608
• Equity at exit: $11,845

Cash invested: $38,360 (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 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 401
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $993 high
• Mortgage (P&I): −$718
• Tax from tax record: −$48 /mo · $574/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-39

Break-even live

Break-even rent $1,042

Max offer price $130,129

Occupancy floor 99%

Sensitivity live

Price	-10% $39	-5% $0	+0% $-39	+5% $-78	+10% $-116
Rent	-10% $-117	-5% $-78	+0% $-39	+5% $0	+10% $40
Rate	-1.0pp $30	-0.5pp $-4	base $-39	+0.5pp $-74	+1.0pp $-111

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2054 N Rogers Ave Springfield, MO	2.0	1.0	888	$925	$1.04	15d	1	0.18mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	25d	1	0.31mi
1447 E Oakwood Ln Springfield, MO	2.0	2.0	982	$1,395	$1.42	45d	1	0.32mi
2337 N Delaware Ave Springfield, MO	2.0	1.0	876	$1,195	$1.36	45d	1	0.36mi
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	45d	1	0.40mi
2313 N Rogers Ave Unit 1 Springfield, MO	2.0	2.0	882	$950	$1.08	15d	1	0.40mi
2345 N Prospect Ave Springfield, MO	2.0	1.0	792	$850	$1.07	15d	1	0.49mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	25d	1	0.51mi
2337 N Ramsey Ave Springfield, MO	2.0	1.0	882	$875	$0.99	15d	1	0.52mi
1636 N National Ave Springfield, MO	3.0	1.5	1000	$995	$0.99	45d	1	0.54mi
2234 N Travis Ave Springfield, MO	1.0	1.0	890	$750	$0.84	45d	1	0.62mi
1112 E Locust St Springfield, MO	2.0	1.0	840	$945	$1.12	25d	1	0.66mi
805 E Garfield St Springfield, MO	2.0	1.0	950	$950	$1.00	15d	1	0.80mi
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	45d	1	0.82mi
2034 N Washington Ave Springfield, MO	2.0	1.0	800	$875	$1.09	45d	1	0.94mi
716 E Locust St Unit A Springfield, MO	2.0	1.0	915	$850	$0.93	25d	1	0.96mi
1306 N Frisco Ave Apt A Springfield, MO	2.0	1.5–2.0	970	$995	$1.03	15d	19	0.98mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	15d	1	1.14mi
2650 N Barnes Ave Apt C22 Springfield, MO	2.0	2.0	1100	$1,000	$0.91	45d	1	1.15mi
3000 N Kentwood Ave Springfield, MO	1.0	1.0	650	$650	$1.00	15d	1	1.18mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	15d	2	1.20mi
1246 E Norton Rd Springfield, MO	1.0	1.0	650	$595	$0.92	45d	1	1.21mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	45d	1	1.22mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	45d	1	1.25mi
2940 N East Ave Springfield, MO	2.0	2.0	915	$700	$0.77	15d	1	1.29mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	45d	1	1.32mi
1825 N Oak Grove Ave Springfield, MO	3.0	1.0	852	$995	$1.17	45d	1	1.33mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	23d	1	1.37mi
2230 N Campbell Ave Springfield, MO	2.0	1.0	1084	$1,095	$1.01	45d	1	1.40mi
1034 E McCanse St Springfield, MO	3.0	1.0	910	$1,150	$1.26	25d	1	1.43mi

Listing history 20 events

1. 2026-04-21
   status Active 857-char remark

   Show marketing remark (857 chars)

   A must see charming and move-in ready home! This 2 bed 1 bath home offers comfort, character, and several thoughtful updates. Featuring beautiful red oak hardwood floors and an easy flowing layout. The kitchen has been recently updated, adding a fresh modern touch while still complementing the home's original character. Additional updates throughout have this home ready for its next owner!Step outside to a spacious, fully fenced, backyard that truly sets this property apart. Whether you're hosting, relaxing around the fire pit, or giving pets room to roam, this space offers endless possibilities. With a roof approximately five years old and ample storage throughout, this is as practical as it is appealing. Schedule a showing today! Buyer to do own due diligence on schools, square footage, lot size, etc. Owner is licensed real estate salesperson.

2. 2026-04-07
   status Pending 857-char remark

   Show marketing remark (857 chars)

   A must see charming and move-in ready home! This 2 bed 1 bath home offers comfort, character, and several thoughtful updates. Featuring beautiful red oak hardwood floors and an easy flowing layout. The kitchen has been recently updated, adding a fresh modern touch while still complementing the home's original character. Additional updates throughout have this home ready for its next owner!Step outside to a spacious, fully fenced, backyard that truly sets this property apart. Whether you're hosting, relaxing around the fire pit, or giving pets room to roam, this space offers endless possibilities. With a roof approximately five years old and ample storage throughout, this is as practical as it is appealing. Schedule a showing today! Buyer to do own due diligence on schools, square footage, lot size, etc. Owner is licensed real estate salesperson.

3. 2026-04-01
   listed $137,000 Active 857-char remark

   Show marketing remark (857 chars)

   A must see charming and move-in ready home! This 2 bed 1 bath home offers comfort, character, and several thoughtful updates. Featuring beautiful red oak hardwood floors and an easy flowing layout. The kitchen has been recently updated, adding a fresh modern touch while still complementing the home's original character. Additional updates throughout have this home ready for its next owner!Step outside to a spacious, fully fenced, backyard that truly sets this property apart. Whether you're hosting, relaxing around the fire pit, or giving pets room to roam, this space offers endless possibilities. With a roof approximately five years old and ample storage throughout, this is as practical as it is appealing. Schedule a showing today! Buyer to do own due diligence on schools, square footage, lot size, etc. Owner is licensed real estate salesperson.

4. 2025-06-23
   price $139,000
5. 2025-06-16
   price $140,000
6. 2025-06-04
   status Active
7. 2025-06-04
   price $143,000
8. 2025-05-21
   status Active
9. 2025-05-08
   status Pending
10. 2025-05-05
    price $145,000
11. 2025-04-23
    listed $149,900 Active
12. 2023-05-26
    soldstatus Closed
13. 2023-05-26
    soldstatus
14. 2023-04-26
    status Pending
15. 2023-04-25
    listed $119,900 Active
16. 2022-12-12
    price $1,044,900
17. 2022-11-18
    price $1,139,900
18. 2022-08-09
    price $1,199,900
19. 2022-04-04
    listed $1,319,900 Active
20. 2003-12-22
    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: $574 · $48/mo
• Projected year-2 tax: $1,329 · $111/mo
• Expected delta: +$754/yr (+$63/mo · 131.3%)

ⓘ 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 ≥105°F today · 18 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: $11,916
• − Mortgage interest: −$7,674
• − Property taxes: −$574
• − Insurance: −$685
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$3,985
• Taxable loss: −$2,909
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $231/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): 42,882
• Household income: $50,572
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1305.0

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 (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%

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

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

-89.6% since first listed

20 events — show timeline

• 2026-04-21 Relisted — SOMO
• 2026-04-07 Pending — SOMO
• 2026-04-01 Listed $137,000 SOMO
• 2025-06-23 Price Changed $139,000 SOMO
• 2025-06-16 Price Changed $140,000 SOMO
• 2025-06-04 Relisted — SOMO
• 2025-06-04 Price Changed $143,000 SOMO
• 2025-05-21 Relisted — SOMO
• 2025-05-08 Pending — SOMO
• 2025-05-05 Price Changed $145,000 SOMO
• 2025-04-23 Listed $149,900 SOMO
• 2023-05-26 Sold (Public Records) — Public Records
• 2023-05-26 Sold (MLS) — SOMO
• 2023-04-26 Pending — SOMO
• 2023-04-25 Listed $119,900 SOMO
• 2022-12-12 Price Changed $1,044,900 SOMO
• 2022-11-18 Price Changed $1,139,900 SOMO
• 2022-08-09 Price Changed $1,199,900 SOMO
• 2022-04-04 Listed $1,319,900 SOMO
• 2003-12-22 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $574 · +11.2% YoY. Source: county tax records.