2019 N Howard Ave · Springfield, MO 65803

$64,500

2 bd · 1.0 ba · 714 sqft · SingleFamily public records · 92 Days on market

Built 1906 6,970 sqft lot $90/sqft · 28% below area Est $89k · 28% 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 +8.8/10.0
• 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

There is certainly unlimited potential in 2019 N. Howard Ave. located in an area of Springfield that has had so many remodels in the last couple of years. Whether it stays a 2-bedroom, 1 bath or is expanded upwards, this property is priced to make the investment in it work. The roof and windows have recently been replaced. Take a look today and lets continue the transformation.

Key facts

• 6,970 sq ft lot
• Built 1906
• Listed 92 days

Tags

• RECENTLY REPLACED ROOF
• RECENTLY REPLACED WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($891 rent vs $64k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $446 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $58,695 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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: 1.38% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 6.0

CMA / ARV

• ARV (median comp): $89,325
• List price: $64,500
• Delta: -27.79%
• 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	0.19mi	2/1.0	658 (-8%)	3mo	$92,000	$140	76
2212 N Kellett Ave	0.32mi	2/2.0	720 (+1%)	6mo	$124,900	$173	75
2112 N Summit Ave	0.36mi	1/1.0 (-1)	714 (0%)	9mo	$110,000	$154	71
2340 N Kellett Ave	0.46mi	1/1.0 (-1)	700 (-2%)	2mo	$115,000	$164	69
519 E Dale St	0.49mi	2/1.0	700 (-2%)	10mo	$96,000	$137	66
2447 N Kellett Ave	0.59mi	2/1.0	720 (+1%)	8mo	$99,900	$139	64
2122 N Taylor Ave	0.17mi	1/1.0 (-1)	623 (-13%)	11mo	$79,900	$128	57
1719 N Weller	0.62mi	2/1.0	768 (+8%)	3mo	$129,000	$168	56
2135 N Fremont Ave	0.42mi	2/1.0	804 (+13%)	8mo	$119,900	$149	53
2155 N Washington Ave	0.48mi	1/1.0 (-1)	616 (-14%)	8mo	$100,000	$162	43
1414 N Sherman Ave	0.69mi	2/1.0	806 (+13%)	6mo	$85,000	$105	41
418 E Atlantic St	0.59mi	1/1.0 (-1)	804 (+13%)	10mo	$100,000	$124	38

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: 13.6%
• Equity multiple: 1.55×
• Total profit: $9,956
• Equity at exit: $9,617

10-year hold

• IRR: 23.3%
• Equity multiple: 3.11×
• Total profit: $38,197
• Equity at exit: $5,577

Cash invested: $18,060 (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: 6.0×

Monthly cashflow live

• Estimated rent: $891 high
• Mortgage (P&I): −$338
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $303

Break-even live

Break-even rent $508

Max offer price $64,500

Occupancy floor 61%

Sensitivity live

Price	-10% $339	-5% $321	+0% $303	+5% $285	+10% $266
Rent	-10% $233	-5% $268	+0% $303	+5% $338	+10% $373
Rate	-1.0pp $335	-0.5pp $319	base $303	+0.5pp $286	+1.0pp $269

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	44d	1	0.45mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	14d	1	0.59mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	44d	1	0.75mi
1246 E Norton Rd Springfield, MO	1.0	1.0	650	$595	$0.92	44d	1	1.21mi
3000 N Kentwood Ave Springfield, MO	1.0	1.0	650	$650	$1.00	14d	1	1.29mi
2850 N Campbell Ave Apt S Springfield, MO	1.0	1.0	727	$750	$1.03	44d	1	1.32mi

Listing history 15 events

1. 2026-06-18
   days on market $64,500 Active 92 DOM
2. 2026-06-17
   days on market $64,500 Active 91 DOM
3. 2026-06-16
   days on market $64,500 Active 90 DOM
4. 2026-06-15
   days on market $64,500 Active 89 DOM
5. 2026-06-14
   days on market $64,500 Active 87 DOM
6. 2026-06-10
   days on market $64,500 Active 84 DOM
7. 2026-06-09
   days on market $64,500 Active 83 DOM
8. 2026-06-08
   days on market $64,500 Active 82 DOM
9. 2026-06-07
   days on market $64,500 Active 81 DOM
10. 2026-06-03
    days on market $64,500 Active 77 DOM
11. 2026-06-02
    days on market $64,500 Active 76 DOM
12. 2026-06-01
    days on market $64,500 Active 75 DOM
13. 2026-05-31
    days on market $64,500 Active 74 DOM
14. 2026-05-30
    days on market $64,500 Active 73 DOM
15. 2026-03-18
    listed $64,500 Active 380-char remark

    Show marketing remark (380 chars)

    There is certainly unlimited potential in 2019 N. Howard Ave. located in an area of Springfield that has had so many remodels in the last couple of years. Whether it stays a 2-bedroom, 1 bath or is expanded upwards, this property is priced to make the investment in it work. The roof and windows have recently been replaced. Take a look today and lets continue the transformation.

ⓘ 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: $432 · $36/mo
• Projected year-2 tax: $626 · $52/mo
• Expected delta: +$193/yr (+$16/mo · 44.7%)

ⓘ 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: $10,695
• − Mortgage interest: −$3,613
• − Property taxes: −$432
• − Insurance: −$322
• − Repairs & maintenance: −$856
• − Management: −$856
• − Depreciation: −$1,876
• Taxable income: $2,740
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $2,978/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

• 2026-03-18 Listed $64,500 SOMO

Property tax history

+4.2%/yr

Latest (2025): $432 · +24.6% YoY. Source: county tax records.