906 E Garfield St · Springfield, MO 65803

$85,000

2 bd · 1.0 ba · 754 sqft · SingleFamily public records · 155 Days on market

Built 1907 6,534 sqft lot $113/sqft · 20% below area Est $106k · 20% under ↓ 3% 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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock the potential of this charming Springfield bungalow. Ideally situated in an established, sought-after neighborhood, this property offers a prime entry point for savvy investors. The layout features two bedrooms, one bath, and a desirable open-concept living space ready for your modern touch. Whether you are looking to flip or build long-term equity, this is a smart addition to any real estate portfolio.

Key facts

• 6,534 sq ft lot
• Built 1907
• Listed 155 days

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 $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.
• Market conditions: Rents rising fast (+4.2%/yr); 394 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 + 4.2% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (median comp): $106,380
• List price: $85,000
• Delta: -20.10%
• 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
902 E Garfield St	0.01mi	2/1.0	658 (-13%)	3mo	$92,000	$140	76
2212 N Kellett Ave	0.29mi	2/2.0	720 (-4%)	6mo	$124,900	$173	70
2214 N Kellett Ave	0.30mi	2/1.0	840 (+11%)	3mo	$149,900	$178	65
1078 E Blaine St	0.36mi	2/1.0	841 (+12%)	3mo	$109,900	$131	61
2340 N Kellett Ave	0.45mi	1/1.0 (-1)	700 (-7%)	2mo	$115,000	$164	60
2447 N Kellett Ave	0.58mi	2/1.0	720 (-4%)	8mo	$99,900	$139	59
2135 N Fremont Ave	0.60mi	2/1.0	804 (+7%)	8mo	$119,900	$149	54
1033 E Locust St	0.44mi	2/1.0	839 (+11%)	8mo	$107,900	$129	54
1414 N Sherman Ave	0.65mi	2/1.0	806 (+7%)	6mo	$85,000	$105	53
1601 N Rogers Ave	0.65mi	2/1.0	840 (+11%)	3mo	$129,900	$155	48
2031 N Fremont Ave	0.57mi	2/1.0	866 (+15%)	6mo	$99,900	$115	44
2138 N Boonville Ave	0.62mi	2/1.0	864 (+15%)	4mo	$90,000	$104	44

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $3,582
• Equity at exit: $12,674

10-year hold

• IRR: 14.4%
• Equity multiple: 2.22×
• Total profit: $29,008
• 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 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 394
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $980 high
• Mortgage (P&I): −$446
• Tax from tax record: −$39 /mo · $472/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $253

Break-even live

Break-even rent $659

Max offer price $85,000

Occupancy floor 69%

Sensitivity live

Price	-10% $302	-5% $278	+0% $253	+5% $229	+10% $205
Rent	-10% $176	-5% $215	+0% $253	+5% $292	+10% $331
Rate	-1.0pp $296	-0.5pp $275	base $253	+0.5pp $231	+1.0pp $209

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 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 E Garfield St Springfield, MO	2.0	1.0	950	$950	$1.00	15d	1	0.08mi
2034 N Washington Ave Springfield, MO	2.0	1.0	800	$875	$1.09	45d	1	0.23mi
2234 N Travis Ave Springfield, MO	1.0	1.0	890	$750	$0.84	45d	1	0.32mi
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	45d	1	0.43mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	15d	1	0.43mi
716 E Locust St Unit A Springfield, MO	2.0	1.0	915	$850	$0.93	24d	1	0.49mi
1636 N National Ave Springfield, MO	3.0	1.5	1000	$995	$0.99	45d	1	0.51mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	45d	1	0.52mi
1112 E Locust St Springfield, MO	2.0	1.0	840	$945	$1.12	24d	1	0.54mi
2054 N Rogers Ave Springfield, MO	2.0	1.0	888	$925	$1.04	15d	1	0.55mi
2337 N Ramsey Ave Springfield, MO	2.0	1.0	882	$875	$0.99	15d	1	0.57mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	45d	1	0.62mi
2345 N Prospect Ave Springfield, MO	2.0	1.0	792	$850	$1.07	15d	1	0.62mi
2313 N Rogers Ave Unit 1 Springfield, MO	2.0	2.0	882	$950	$1.08	15d	1	0.63mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	22d	1	0.69mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	45d	1	0.70mi
2230 N Campbell Ave Springfield, MO	2.0	1.0	1084	$1,095	$1.01	45d	1	0.71mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	15d	2	0.73mi
1447 E Oakwood Ln Springfield, MO	2.0	2.0	982	$1,395	$1.42	45d	1	0.76mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	24d	1	0.79mi
1306 N Frisco Ave Apt A Springfield, MO	2.0	1.5–2.0	970	$995	$1.03	15d	19	0.81mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	24d	1	0.86mi
2337 N Delaware Ave Springfield, MO	2.0	1.0	876	$1,195	$1.36	45d	1	0.88mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	15d	1	1.02mi
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	45d	1	1.05mi
2940 N East Ave Springfield, MO	2.0	2.0	915	$700	$0.77	15d	1	1.17mi
2850 N Campbell Ave Apt S Springfield, MO	1.0	1.0	727	$750	$1.03	45d	1	1.23mi
1246 E Norton Rd Springfield, MO	1.0	1.0	650	$595	$0.92	45d	1	1.26mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	45d	1	1.33mi
1034 E McCanse St Springfield, MO	3.0	1.0	910	$1,150	$1.26	24d	1	1.34mi
3000 N Kentwood Ave Springfield, MO	1.0	1.0	650	$650	$1.00	15d	1	1.37mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	24d	1	1.47mi

Listing history 23 events

1. 2026-06-18
   days on market $85,000 Active 155 DOM
2. 2026-06-17
   days on market $85,000 Active 154 DOM
3. 2026-06-16
   days on market $85,000 Active 153 DOM
4. 2026-06-15
   days on market $85,000 Active 152 DOM
5. 2026-06-14
   days on market $85,000 Active 150 DOM
6. 2026-06-10
   days on market $85,000 Active 147 DOM
7. 2026-06-09
   days on market $85,000 Active 146 DOM
8. 2026-06-08
   days on market $85,000 Active 145 DOM
9. 2026-06-07
   days on market $85,000 Active 144 DOM
10. 2026-06-03
    days on market $85,000 Active 140 DOM
11. 2026-06-02
    days on market $85,000 Active 139 DOM
12. 2026-06-01
    days on market $85,000 Active 138 DOM
13. 2026-05-31
    days on market $85,000 Active 137 DOM
14. 2026-05-30
    days on market $85,000 Active 136 DOM
15. 2026-01-14
    listed $85,000 Active 413-char remark

    Show marketing remark (413 chars)

    Unlock the potential of this charming Springfield bungalow. Ideally situated in an established, sought-after neighborhood, this property offers a prime entry point for savvy investors. The layout features two bedrooms, one bath, and a desirable open-concept living space ready for your modern touch. Whether you are looking to flip or build long-term equity, this is a smart addition to any real estate portfolio.

16. 2024-05-23
    listed $89,900 Active
17. 2024-05-17
    historical $700
18. 2024-04-05
    price $700
19. 2024-03-31
    listed $750
20. 2023-10-27
    listed $87,500 Active
21. 2021-03-22
    soldstatus
22. 2016-03-02
    soldstatus
23. 2016-03-02
    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: $472 · $39/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$352/yr (+$29/mo · 74.6%)

ⓘ 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 · 19 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: $11,757
• − Mortgage interest: −$4,761
• − Property taxes: −$472
• − Insurance: −$425
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$2,473
• Taxable income: $1,745
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $2,623/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

-2.9% since first listed

9 events — show timeline

• 2026-01-14 Listed $85,000 SOMO
• 2024-05-23 Listed $89,900 SOMO
• 2024-05-17 Rental Removed $700 BUILDIUM
• 2024-04-05 Price Changed $700 BUILDIUM
• 2024-03-31 Listed for Rent $750 BUILDIUM
• 2023-10-27 Listed $87,500 SOMO
• 2021-03-22 Sold (Public Records) — Public Records
• 2016-03-02 Sold (Public Records) — Public Records
• 2016-03-02 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $472 · +23.1% YoY. Source: county tax records.