2019 N Howard Ave · Springfield, MO 65803

$49,500

2 bd · 1.0 ba · 714 sqft · SingleFamily public records · 189 Days on market

Built 1906 Fair condition 6,970 sqft lot $69/sqft · 46% below area Est $91k · 46% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• 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 189 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 $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 4.5% 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: Robberson Elem. (math 27% / reading 32%, grade F, #813 of 1,115 statewide, top 75%, 166 students, 89% FRL); Reed Middle (math 33% / reading 44%, grade F, #202 of 391 statewide, top 54%, 512 students, 70% 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.
• Market conditions: Rents rising fast (+4.2%/yr); 593 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 42% 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 $342 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($44k) 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 $43,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.73% ✓
• Cap rate: 15.07%
• Cash-on-cash: 31.34%
• DSCR: 2.39
• GRM: 4.8

CMA / ARV

• ARV (median comp): $91,226
• List price: $49,500
• Delta: -29.30%
• 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
2243 N Kellett Ave	0.39mi	2/1.0	726 (+2%)	1mo	$100,000	$138	78
902 E Garfield St	0.19mi	2/1.0	658 (-8%)	6mo	$92,000	$140	73
2212 N Kellett Ave	0.32mi	2/2.0	720 (+1%)	9mo	$124,900	$173	72
2340 N Kellett Ave	0.46mi	1/1.0 (-1)	700 (-2%)	5mo	$115,000	$164	66
2137 N Weller Ave	0.55mi	2/1.0	756 (+6%)	3mo	$49,900	$66	62
2447 N Kellett Ave	0.59mi	2/1.0	720 (+1%)	11mo	$99,900	$139	62
1719 N Weller	0.62mi	2/1.0	768 (+8%)	6mo	$129,000	$168	54
1307 E Locust St	0.53mi	2/1.0	800 (+12%)	3mo	$129,900	$162	52
2135 N Fremont Ave	0.42mi	2/1.0	804 (+13%)	11mo	$119,900	$149	50
2103 N Jefferson Ave	0.65mi	2/1.0	806 (+13%)	2mo	$114,900	$143	46
2155 N Washington Ave	0.48mi	1/1.0 (-1)	616 (-14%)	12mo	$100,000	$162	40
1414 N Sherman Ave	0.69mi	2/1.0	806 (+13%)	9mo	$85,000	$105	39

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: 27.5%
• Equity multiple: 2.16×
• Total profit: $16,116
• Equity at exit: $7,381

10-year hold

• IRR: 35.8%
• Equity multiple: 4.48×
• Total profit: $48,273
• Equity at exit: $4,280

Cash invested: $13,860 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 15 under contract
• Months of supply: 6.7 mo (15%/mo absorbed)
• Median asking: $125,000 ($159/sqft)
• Median days on market: 66 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -19.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 593
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $859 high
• Mortgage (P&I): −$260
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $362

Break-even live

Break-even rent $400

Max offer price $49,500

Occupancy floor 53%

Sensitivity live

Price	-10% $390	-5% $376	+0% $362	+5% $348	+10% $334
Rent	-10% $294	-5% $328	+0% $362	+5% $396	+10% $430
Rate	-1.0pp $387	-0.5pp $375	base $362	+0.5pp $349	+1.0pp $336

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: $12,375
• Closing costs: $1,485
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2139 N Taylor Ave Springfield, MO	2.0	1.0	576	$750	$1.30	3d	1	0.18mi
2220 N Pierce Ave Unit A Springfield, MO	2.0	1.0	676	$795	$1.18	6d	1	0.36mi
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	139d	1	0.45mi
1910 N Benton Ave Springfield, MO	1.0	1.0	580	$750	$1.29	6d	1	0.51mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	109d	1	0.59mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	139d	1	0.75mi
1623 N Jefferson Ave Springfield, MO	1.0	1.0	500	$900	$1.80	6d	1	0.75mi
1910 N Lyon Ave Unit Back Springfield, MO	1.0	1.0	650	$895	$1.38	6d	1	0.93mi
1246 E Norton Rd Springfield, MO	1.0	1.0	650	$595	$0.92	139d	1	1.21mi
2850 N Campbell Ave Apt S Springfield, MO	1.0	1.0	727	$750	$1.03	139d	1	1.32mi
3102 N Howard Ave Unit 3104 Springfield, MO	2.0	1.0	672	$750	$1.12	6d	1	1.35mi
612 W Nichols St Springfield, MO	1.0	1.0	716	$750	$1.05	6d	1	1.47mi

Listing history 50 events

1. 2026-09-23
   days on market $49,500 Active 189 DOM
2. 2026-09-22
   days on market $49,500 Active 188 DOM
3. 2026-09-21
   days on market $49,500 Active 187 DOM
4. 2026-09-20
   days on market $49,500 Active 186 DOM
5. 2026-09-18
   days on market $49,500 Active 184 DOM
6. 2026-09-17
   days on market $49,500 Active 183 DOM
7. 2026-09-16
   days on market $49,500 Active 182 DOM
8. 2026-09-15
   days on market $49,500 Active 181 DOM
9. 2026-09-14
   days on market $49,500 Active 180 DOM
10. 2026-09-13
    days on market $49,500 Active 179 DOM
11. 2026-09-12
    days on market $49,500 Active 178 DOM
12. 2026-09-11
    days on market $49,500 Active 177 DOM
13. 2026-09-05
    days on market $49,500 Active 171 DOM
14. 2026-09-04
    days on market $49,500 Active 170 DOM
15. 2026-09-03
    pricedays on market $49,500 Active 169 DOM
16. 2026-08-31
    days on market $64,500 Active 166 DOM
17. 2026-08-30
    days on market $64,500 Active 165 DOM
18. 2026-08-29
    days on market $64,500 Active 164 DOM
19. 2026-08-28
    days on market $64,500 Active 163 DOM
20. 2026-08-27
    days on market $64,500 Active 162 DOM
21. 2026-08-25
    days on market $64,500 Active 160 DOM
22. 2026-08-24
    days on market $64,500 Active 159 DOM
23. 2026-08-23
    days on market $64,500 Active 158 DOM
24. 2026-08-22
    days on market $64,500 Active 157 DOM
25. 2026-08-21
    days on market $64,500 Active 156 DOM
26. 2026-08-20
    days on market $64,500 Active 155 DOM
27. 2026-08-19
    days on market $64,500 Active 154 DOM
28. 2026-08-18
    days on market $64,500 Active 153 DOM
29. 2026-08-17
    days on market $64,500 Active 152 DOM
30. 2026-08-16
    days on market $64,500 Active 151 DOM
31. 2026-08-15
    days on market $64,500 Active 150 DOM
32. 2026-08-14
    days on market $64,500 Active 149 DOM
33. 2026-08-13
    days on market $64,500 Active 148 DOM
34. 2026-08-12
    days on market $64,500 Active 147 DOM
35. 2026-08-11
    days on market $64,500 Active 146 DOM
36. 2026-08-10
    days on market $64,500 Active 145 DOM
37. 2026-08-09
    days on market $64,500 Active 144 DOM
38. 2026-08-08
    days on market $64,500 Active 143 DOM
39. 2026-08-07
    days on market $64,500 Active 142 DOM
40. 2026-08-06
    days on market $64,500 Active 141 DOM
41. 2026-08-05
    days on market $64,500 Active 140 DOM
42. 2026-08-04
    days on market $64,500 Active 139 DOM
43. 2026-08-03
    days on market $64,500 Active 138 DOM
44. 2026-07-31
    days on market $64,500 Active 135 DOM
45. 2026-07-30
    days on market $64,500 Active 134 DOM
46. 2026-07-29
    days on market $64,500 Active 133 DOM
47. 2026-07-27
    days on market $64,500 Active 131 DOM
48. 2026-07-25
    days on market $64,500 Active 129 DOM
49. 2026-07-24
    days on market $64,500 Active 128 DOM
50. 2026-07-23
    days on market $64,500 Active 127 DOM

ⓘ 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: $480 · $40/mo
• Expected delta: +$48/yr (+$4/mo · 11.0%)

ⓘ 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: $10,302
• − Mortgage interest: −$2,773
• − Property taxes: −$432
• − Insurance: −$248
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,440
• Taxable income: $3,761
• Est. tax owed @ 24.0%: −$903
• After-tax cash flow: $3,441/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab Est. rehab $17,850–$32,130 screening

This home has moderate potential for improvement with fair exterior condition and needs painting, landscaping, and HVAC maintenance to increase its value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $40,500–$122,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Major Windows (windows) — Some windows appear to be broken or missing
• Major Electrical (electrical) — Exposed wiring and missing panels suggest potential electrical issues
• Major Exterior (exterior) — Significant damage to siding and structural components
• Major Other — General state of disrepair and lack of maintenance

Repairs flagged

• Moderate Siding — Weathered and needs repainting
• Moderate Paint — Exterior paint is faded and uneven
• Minor Landscaping — Sparse and could be improved

Value-add opportunities

• Both Painting and repainting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Rental HVAC maintenance — Improves comfort and tenant satisfaction ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Robberson Elem. F MO #813/1,115 Nat'l #26,716/41,679 Middle Reed Middle F MO #202/391 Nat'l #6,453/14,009 High Hillcrest High F MO #462/521 Nat'l #13,673/17,239

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

B Composite livability gradescore 75/100

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 · 319,054 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: 11% of renters

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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%

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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%

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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

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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.