2614 E Locust St · Springfield, MO 65803

$135,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 41 Days on market

Built 1958 9,148 sqft lot $141/sqft · 16% below area Est $161k · 16% 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 +14.9/30.0
• ARV discount +14.7/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home in East Springfield with tons of potential! Featuring a fully fenced backyard, this property is a fantastic opportunity for investors or homeowners ready to add their personal touch and build instant sweat equity. With a functional layout, great curb appeal, and plenty of outdoor space, this home offers endless possibilities at an affordable price. Whether you're looking for your next investment property or a place to make your own, this one is full of opportunity!

Key facts

• Functional layout
• Outdoor space
• 9,148 sq ft lot

Tags

• FULLY FENCED BACKYARD
• FUNCTIONAL LAYOUT
• OUTDOOR SPACE

Property features AI

Finance

• Financial info: Annual tax amount: $720.39

Exterior

• Parking: Attached or detached garage with 1 car (garage present)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Above-grade finished area 960
• Exterior features: Full fenced yard; Lot about 0.21 acre; Subdivision: Webster Park

Interior

• Bedrooms: Bedrooms located on main level
• Bathrooms: 1 full bathroom
• Interior features: Central heating; Natural gas heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $41 ($487/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 $109k (18.9% below list).
• Recommended offer: $109k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Weller Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 297 students, 83% FRL); Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools average 67% FRL vs 46% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.2%/yr); 394 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $933 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 41 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $109,474 (18.9% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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: 0.81% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

• ARV (median comp): $160,869
• List price: $135,000
• Delta: -16.08%
• 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
2653 E Division St	0.08mi	2/1.0 (-1)	986 (+3%)	14mo	$124,000	$126	76
1636 N Oak Grove Ave	0.09mi	3/2.0	1,068 (+11%)	1mo	$149,500	$140	72
1626 N Yates Ave	0.09mi	3/1.0	1,056 (+10%)	10mo	$165,000	$156	71
1914 N Lone Pine Ave	0.45mi	3/1.5	1,008 (+5%)	6mo	$129,900	$129	64
1667 N Hayes Ave	0.34mi	2/1.0 (-1)	912 (-5%)	10mo	$129,900	$142	63
1601 N Marlan Ave Ave	0.38mi	2/1.0 (-1)	1,008 (+5%)	9mo	$60,000	$60	62
2718 E Blaine St	0.23mi	2/1.0 (-1)	1,073 (+12%)	7mo	$168,000	$157	59
2351 E Pacific St	0.31mi	2/1.0 (-1)	868 (-10%)	10mo	$55,000	$63	56
1845 N Marlan Ave	0.50mi	2/1.0 (-1)	1,016 (+6%)	13mo	$160,000	$157	51
1905 N Burton Ave	0.39mi	2/1.0 (-1)	848 (-12%)	8mo	$134,900	$159	50
2655 E Atlantic St	0.49mi	3/2.0	1,084 (+13%)	9mo	$186,900	$172	44
2425 E Atlantic St	0.52mi	2/1.0 (-1)	1,084 (+13%)	10mo	$147,900	$136	41

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: -13.1%
• Equity multiple: 0.52×
• Total profit: $-17,957
• Equity at exit: $20,129

10-year hold

• IRR: -2.5%
• Equity multiple: 0.82×
• Total profit: $-6,692
• Equity at exit: $11,672

Cash invested: $37,800 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,095 high
• Mortgage (P&I): −$708
• Tax from tax record: −$60 /mo · $720/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $41

Break-even live

Break-even rent $1,043

Max offer price $135,000

Occupancy floor 91%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 N Oak Grove Ave Springfield, MO	3.0	1.0	852	$995	$1.17	43d	1	0.29mi
504 N Patterson Ave Apt C Springfield, MO	2.0	1.0	760	$725	$0.95	43d	1	1.04mi
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	43d	1	1.12mi
2650 N Barnes Ave Apt C22 Springfield, MO	2.0	2.0	1100	$1,000	$0.91	43d	1	1.36mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	23d	1	1.39mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	23d	1	1.41mi
2154 E Cairo St Springfield, MO	3.0	2.0	1100	$1,395	$1.27	43d	1	1.44mi

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 41 DOM
2. 2026-06-17
   days on market $135,000 Active 40 DOM
3. 2026-06-16
   days on market $135,000 Active 39 DOM
4. 2026-06-15
   days on market $135,000 Active 38 DOM
5. 2026-06-14
   days on market $135,000 Active 36 DOM
6. 2026-06-10
   days on market $135,000 Active 33 DOM
7. 2026-06-09
   days on market $135,000 Active 32 DOM
8. 2026-06-08
   days on market $135,000 Active 31 DOM
9. 2026-06-07
   days on market $135,000 Active 30 DOM
10. 2026-06-03
    days on market $135,000 Active 26 DOM
11. 2026-06-02
    days on market $135,000 Active 25 DOM
12. 2026-06-01
    days on market $135,000 Active 24 DOM
13. 2026-05-31
    days on market $135,000 Active 23 DOM
14. 2026-05-30
    days on market $135,000 Active 22 DOM
15. 2026-05-08
    listed $135,000 Active 483-char remark

ⓘ 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: $720 · $60/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$589/yr (+$49/mo · 81.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,137
• − Mortgage interest: −$7,562
• − Property taxes: −$720
• − Insurance: −$675
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$3,927
• Taxable loss: −$1,850
• Est. tax savings @ 24.0%: +$444
• After-tax cash flow: $931/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

1 event — show timeline

• 2026-05-08 Listed $135,000 SOMO

Property tax history

+3.1%/yr

Latest (2025): $720 · +11.4% YoY. Source: county tax records.