2131 W Atlantic St · Springfield, MO 65803

$115,000

4 bd · 2.0 ba · 1,670 sqft · Other public records · 35 Days on market

Built 1956 6,534 sqft lot $69/sqft · 27% below area Est $158k · 27% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

4 bedrooms and 2 full baths at 1,670 sq ft. As-is sale for investors. Vacant and priced to reflect condition. Located in the Tom Watkins neighborhood within walking distance of Tom Watkins Park.

Key facts

• 6,534 sq ft lot
• Built 1956
• Listed 35 days

Property features AI

Finance

• Other: Square footage listed as 1,670
• Financial info: Annual tax approximately $705.93
• HOA & community: HOA information not specified

Exterior

• Parking: Parking details not specified
• Security: Security features not specified
• Utilities: Public water service; Public sewer service
• Home design: Single-family residence; Residential property; One story
• Construction: Construction details not specified; Year built not specified
• Exterior features: Lot approximately 0.15 acres; Public water; Public sewer

Interior

• Kitchen: Appliances not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating; Forced air heating
• Interior features: One-level living
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

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: Williams Elem. (math 12% / reading 22%, grade F, #967 of 1,115 statewide, top 88%, 317 students, 85% 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.
• Zoned-school proficiency averages 20% at this address vs 39% district-wide (-20 pts) — the specific schools serving this property underperform the Springfield R-XII average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.2%/yr); 394 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $795 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $57k; list at $115k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.72%
• DSCR: 1.83
• GRM: 6.2

CMA / ARV

• ARV (median comp): $157,725
• List price: $115,000
• Delta: -27.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.24% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $15,264
• Equity at exit: $17,147

10-year hold

• IRR: 21.6%
• Equity multiple: 2.94×
• Total profit: $62,522
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $502

Break-even live

Break-even rent $899

Max offer price $115,000

Occupancy floor 62%

Sensitivity live

Price	-10% $567	-5% $535	+0% $502	+5% $470	+10% $437
Rent	-10% $381	-5% $442	+0% $502	+5% $563	+10% $623
Rate	-1.0pp $560	-0.5pp $532	base $502	+0.5pp $472	+1.0pp $442

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2222 N Hillcrest Ave Springfield, MO	3.0	2.0	1800	$1,395	$0.78	44d	1	0.97mi
1127 W Talmage St Springfield, MO	3.0	2.0	1160	$1,650	$1.42	44d	1	1.14mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	44d	1	1.15mi

Listing history 19 events

1. 2026-06-18
   days on market $115,000 Active 35 DOM
2. 2026-06-17
   days on market $115,000 Active 34 DOM
3. 2026-06-16
   days on market $115,000 Active 33 DOM
4. 2026-06-15
   days on market $115,000 Active 32 DOM
5. 2026-06-14
   days on market $115,000 Active 30 DOM
6. 2026-06-10
   days on market $115,000 Active 27 DOM
7. 2026-06-09
   days on market $115,000 Active 26 DOM
8. 2026-06-08
   days on market $115,000 Active 25 DOM
9. 2026-06-07
   days on market $115,000 Active 24 DOM
10. 2026-06-03
    days on market $115,000 Active 20 DOM
11. 2026-06-02
    days on market $115,000 Active 19 DOM
12. 2026-06-01
    days on market $115,000 Active 18 DOM
13. 2026-05-31
    days on market $115,000 Active 17 DOM
14. 2026-05-30
    days on market $115,000 Active 16 DOM
15. 2026-05-14
    listed $115,000 Active 194-char remark
16. 2021-03-12
    soldstatus $57,000
17. 2016-01-17
    listed $91,890
18. 2005-01-24
    soldstatus
19. 2003-08-05
    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: $706 · $59/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$410/yr (+$34/mo · 58.0%)

ⓘ 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 ≥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: $18,412
• − Mortgage interest: −$6,442
• − Property taxes: −$706
• − Insurance: −$575
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$3,345
• Taxable income: $4,398
• Est. tax owed @ 24.0%: −$1,055
• After-tax cash flow: $4,972/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

+25.1% since first listed

5 events — show timeline

• 2026-05-14 Listed $115,000 SOMO
• 2021-03-12 Sold (Public Records) $57,000 Public Records
• 2016-01-17 Listed $91,890 SOMO
• 2005-01-24 Sold (Public Records) — Public Records
• 2003-08-05 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $706 · +6.5% YoY. Source: county tax records.