2127 N Grace Ave · Springfield, MO 65803

$115,000

3 bd · 1.0 ba · 884 sqft · SingleFamily public records · 35 Days on market

Built 1946 7,405 sqft lot $130/sqft · 6% below area Est $122k · 6% 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 +19.6/30.0
• ARV discount +10.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.0/10.0
• 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

Whether you are looking for a Winter project to add to your rental portfolio, a flip opportunity or just looking for a new place to call home, you've got to check out this little diamond in the rough! Just under 1,000 sq. ft. with 3 bedrooms and one full bath, conveniently located with easy access to major roads, shopping, restaurants and much more, including Tom Watkins Park! Priced at $20 a sq. ft. it is a steal and has fantastic upside potential. .. .not without getting your hands dirty, of course! Buyer to perform their own due diligence with regard to all aspects of this property. It needs work and is being sold ''as is, where is''. Utilities are NOT turned on, nor will they be. Come take a look! Thank you.

Key facts

• 7,405 sq ft lot
• Built 1946
• Listed 35 days

Property features AI

Finance

• Other: Listing broker: Murney Associates - Primrose; Listing agent: Langston Group Group

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One story
• Exterior features: 0.17-acre lot; Subdivision: Quiggs

Interior

• Bedrooms: Bedrooms located on main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: One-level layout

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $132 ($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 $104k (9.9% below list).
• Recommended offer: $104k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $103,586 (9.9% 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 10% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 0.90% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (median comp): $121,717
• List price: $115,000
• Delta: -5.52%
• 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
2074 N Columbia Ave	0.07mi	3/1.0	924 (+4%)	1mo	$100,000	$108	89
2135 N Roosevelt Ave	0.07mi	3/2.0	870 (-2%)	5mo	$112,000	$129	86
2111 N Grace Ave	0.03mi	2/1.0 (-1)	836 (-5%)	5mo	$39,900	$48	81
2140 N Roosevelt Ave	0.09mi	2/1.0 (-1)	816 (-8%)	8mo	$89,900	$110	71
2043 N Roosevelt North Ave	0.13mi	3/1.0	1,000 (+13%)	4mo	$109,000	$109	69
2111 N Elizabeth Ave	0.38mi	2/1.0 (-1)	845 (-4%)	4mo	$80,000	$95	67
2234 N Fay Ave	0.51mi	2/1.0 (-1)	867 (-2%)	3mo	$129,900	$150	66
2105 N Elizabeth Ave	0.38mi	2/1.0 (-1)	830 (-6%)	2mo	$98,500	$119	66
2042 N Marion Ave	0.30mi	2/1.0 (-1)	780 (-12%)	6mo	$149,900	$192	56
2227 N Elizabeth Ave	0.39mi	3/2.0	1,014 (+15%)	6mo	$129,000	$127	48
2219 N Nettleton Ave	0.73mi	2/1.0 (-1)	816 (-8%)	8mo	$110,000	$135	42
2333 N Farmer Ave	0.64mi	2/1.0 (-1)	768 (-13%)	8mo	$69,900	$91	37

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-8,980
• Equity at exit: $17,147

10-year hold

• IRR: 3.4%
• Equity multiple: 1.26×
• Total profit: $8,293
• 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: 9.3×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$603
• Tax from tax record: −$35 /mo · $426/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $132

Break-even live

Break-even rent $869

Max offer price $115,000

Occupancy floor 82%

Sensitivity live

Price	-10% $197	-5% $164	+0% $132	+5% $99	+10% $67
Rent	-10% $50	-5% $91	+0% $132	+5% $173	+10% $214
Rate	-1.0pp $190	-0.5pp $161	base $132	+0.5pp $102	+1.0pp $72

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	45d	1	0.04mi
2224 N Clifton Ave Unit 2238-A Springfield, MO	2.0	1.0	756	$695	$0.92	15d	1	0.23mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	45d	1	0.48mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	15d	1	0.51mi
3031 W Pacific St Springfield, MO	3.0	1.5	1008	$1,295	$1.28	22d	1	0.94mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	45d	1	1.00mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	45d	1	1.16mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	24d	1	1.28mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	45d	1	1.30mi
2601 N Cresthaven Ave Springfield, MO	4.0	1.0–2.0	1007	$1,627	$1.61	15d	16	1.31mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	24d	1	1.36mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	24d	1	1.40mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	45d	1	1.40mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	45d	1	1.41mi

Listing history 22 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 115-char remark
16. 2021-05-18
    soldstatus
17. 2021-05-18
    soldstatus
18. 2019-01-28
    soldstatus
19. 2019-01-25
    soldstatus 721-char remark

    Show marketing remark (721 chars)

    Whether you are looking for a Winter project to add to your rental portfolio, a flip opportunity or just looking for a new place to call home, you've got to check out this little diamond in the rough! Just under 1,000 sq. ft. with 3 bedrooms and one full bath, conveniently located with easy access to major roads, shopping, restaurants and much more, including Tom Watkins Park! Priced at $20 a sq. ft. it is a steal and has fantastic upside potential. .. .not without getting your hands dirty, of course! Buyer to perform their own due diligence with regard to all aspects of this property. It needs work and is being sold ''as is, where is''. Utilities are NOT turned on, nor will they be. Come take a look! Thank you.

20. 2018-12-14
    listed $17,680 721-char remark

    Show marketing remark (721 chars)

    Whether you are looking for a Winter project to add to your rental portfolio, a flip opportunity or just looking for a new place to call home, you've got to check out this little diamond in the rough! Just under 1,000 sq. ft. with 3 bedrooms and one full bath, conveniently located with easy access to major roads, shopping, restaurants and much more, including Tom Watkins Park! Priced at $20 a sq. ft. it is a steal and has fantastic upside potential. .. .not without getting your hands dirty, of course! Buyer to perform their own due diligence with regard to all aspects of this property. It needs work and is being sold ''as is, where is''. Utilities are NOT turned on, nor will they be. Come take a look! Thank you.

21. 2016-10-11
    soldstatus

    Show marketing remark (410 chars)

    A nice little investment property in need of renovation, priced to have equity upon completion. Good bones, good location and good rental potential. Could very well qualify for HUD renovation monies provided by the City of Springfield. Being sold ''as is, where is'' with right to inspection. No utilities are on, nor will there be. Buyer must perform their own due diligence with all aspects of this property.

22. 2016-08-16
    listed $20,000

    Show marketing remark (410 chars)

    A nice little investment property in need of renovation, priced to have equity upon completion. Good bones, good location and good rental potential. Could very well qualify for HUD renovation monies provided by the City of Springfield. Being sold ''as is, where is'' with right to inspection. No utilities are on, nor will there be. Buyer must perform their own due diligence with all aspects of this property.

ⓘ 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: $426 · $35/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$690/yr (+$57/mo · 161.9%)

ⓘ 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 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: $12,430
• − Mortgage interest: −$6,442
• − Property taxes: −$426
• − Insurance: −$575
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$3,345
• Taxable loss: −$347
• Est. tax savings @ 24.0%: +$83
• 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): 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

+475.0% since first listed

8 events — show timeline

• 2026-05-14 Listed $115,000 SOMO
• 2021-05-18 Sold (Public Records) — Public Records
• 2021-05-18 Sold (Public Records) — Public Records
• 2019-01-28 Sold (Public Records) — Public Records
• 2019-01-25 Sold (MLS) — SOMO
• 2018-12-14 Listed $17,680 SOMO
• 2016-10-11 Sold (MLS) — SOMO
• 2016-08-16 Listed $20,000 SOMO

Property tax history

+1.4%/yr

Latest (2025): $426 · +8.8% YoY. Source: county tax records.