2340 N Franklin Ave · Springfield, MO 65803

$90,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 35 Days on market

Built 1922 8,712 sqft lot $110/sqft · 30% below area Est $128k · 30% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.1/10.0
• 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

This home is owned by the U. S. Department of Housing and Urban Development (HUD). This HUD home is sold "as-is" / "where-is" with any and all faults. Agents must be registered with HUD for the bidding process. Call listing office to bid your price on this house. Buyer must have a mortgage commitment or cash. This home is case number 291-238095. BUYERS AGENTS: Bids can get cancelled or contracts rejected, check www. bidselect.com DAILY for status of home. When showing this house HUD needs you to sign the log in sheet at the house. Please lock the doors when done showing. Read Showing Agent Information for all needed details and links.

Key facts

• Convenient access
• Local amenities
• Functional layout

Tags

• CONVENIENT ACCESS
• LOCAL AMENITIES
• FUNCTIONAL LAYOUT
• UPSIDE POTENTIAL

Property features AI

Finance

• Other: Square footage: 816 (above grade finished area)
• Financial info: Tax amount provided but omitted from feature list
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Construction details not provided; Year built not provided
• Exterior features: Lot approximately 0.2 acre; Subdivision: Greene-Not in List; Directions: From Kearney and Franklin head south on Franklin; house is on the left (east) side of the street

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); No central cooling
• Interior features: One-level living
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: Bowerman Elem. (math 17% / reading 27%, grade F, #910 of 1,115 statewide, top 83%, 243 students, 90% FRL); Hillcrest High (math 9% / reading 35%, grade F, #462 of 521 statewide, top 90%, 1,017 students, 64% FRL) — zoned schools average 77% FRL vs 46% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 39% district-wide (-17 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; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $622 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (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 1922 — 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: 1.11% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.5

CMA / ARV

• ARV (median comp): $128,131
• List price: $90,000
• Delta: -29.76%
• 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
800 W Della St	0.24mi	2/1.0	808 (-1%)	2mo	$114,900	$142	85
920 W Talmage St	0.30mi	2/1.0	784 (-4%)	2mo	$135,000	$172	78
2214 N Concord Ave	0.41mi	2/1.0	864 (+6%)	3mo	$89,500	$104	69
2342 N Lyon Ave	0.51mi	2/1.0	850 (+4%)	3mo	$143,900	$169	67
1121 W Florida St	0.60mi	2/2.0	844 (+3%)	1mo	$57,000	$68	61
812 W Turner St	0.22mi	3/1.0 (+1)	912 (+12%)	5mo	$60,000	$66	61
2234 N Fay Ave	0.63mi	2/1.0	867 (+6%)	3mo	$129,900	$150	58
2306 N Fay Ave	0.61mi	2/1.0	748 (-8%)	3mo	$136,500	$182	55
2138 N Boonville Ave	0.69mi	2/1.0	864 (+6%)	4mo	$90,000	$104	55
2333 N Lyon Ave	0.49mi	2/1.0	920 (+13%)	2mo	$75,000	$82	54
509 W High St	0.52mi	2/2.0	891 (+9%)	4mo	$170,000	$191	54
2502 N Campbell Ave	0.61mi	2/1.0	907 (+11%)	2mo	$135,000	$149	51

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,725
• Equity at exit: $13,419

10-year hold

• IRR: 12.4%
• Equity multiple: 2.04×
• Total profit: $26,097
• Equity at exit: $7,782

Cash invested: $25,200 (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: 7.5×

Monthly cashflow live

• Estimated rent: $996 high
• Mortgage (P&I): −$472
• Tax from tax record: −$41 /mo · $488/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $237

Break-even live

Break-even rent $696

Max offer price $90,000

Occupancy floor 71%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	43d	1	0.30mi
2230 N Campbell Ave Springfield, MO	2.0	1.0	1084	$1,095	$1.01	43d	1	0.58mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	13d	1	0.64mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	43d	1	0.67mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	13d	1	0.85mi
2850 N Campbell Ave Apt S Springfield, MO	1.0	1.0	727	$750	$1.03	43d	1	0.87mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	21d	1	0.92mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	43d	1	0.93mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	13d	1	1.00mi
2034 N Washington Ave Springfield, MO	2.0	1.0	800	$875	$1.09	43d	1	1.06mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	43d	1	1.11mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	43d	1	1.13mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	43d	1	1.15mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	23d	1	1.20mi
805 E Garfield St Springfield, MO	2.0	1.0	950	$950	$1.00	13d	1	1.21mi
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	43d	1	1.23mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	23d	1	1.28mi
2224 N Clifton Ave Unit 2238-A Springfield, MO	2.0	1.0	756	$695	$0.92	13d	1	1.32mi
2234 N Travis Ave Springfield, MO	1.0	1.0	890	$750	$0.84	43d	1	1.38mi
716 E Locust St Unit A Springfield, MO	2.0	1.0	915	$850	$0.93	23d	1	1.41mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	13d	2	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $90,000 Active 35 DOM
2. 2026-06-17
   days on market $90,000 Active 34 DOM
3. 2026-06-16
   days on market $90,000 Active 33 DOM
4. 2026-06-15
   days on market $90,000 Active 32 DOM
5. 2026-06-14
   days on market $90,000 Active 30 DOM
6. 2026-06-10
   days on market $90,000 Active 27 DOM
7. 2026-06-09
   days on market $90,000 Active 26 DOM
8. 2026-06-08
   days on market $90,000 Active 25 DOM
9. 2026-06-07
   days on market $90,000 Active 24 DOM
10. 2026-06-03
    days on market $90,000 Active 20 DOM
11. 2026-06-02
    days on market $90,000 Active 19 DOM
12. 2026-06-01
    days on market $90,000 Active 18 DOM
13. 2026-05-31
    days on market $90,000 Active 17 DOM
14. 2026-05-30
    days on market $90,000 Active 16 DOM
15. 2026-05-14
    listed $90,000 Active 329-char remark
16. 2019-05-24
    soldstatus $350,000
17. 2016-06-10
    listed $93,794
18. 2009-08-27
    soldstatus
19. 2009-06-26
    soldstatus

    Show marketing remark (669 chars)

    This home is owned by the U. S. Department of Housing and Urban Development (HUD). This HUD home is sold "as-is" / "where-is" with any and all faults. Agents must be registered with HUD for the bidding process. Call listing office to bid your price on this house. Buyer must have a mortgage commitment or cash. This home is case number 291-238095. BUYERS AGENTS: Bids can get cancelled or contracts rejected, check www. bidselect.com DAILY for status of home. When showing this house HUD needs you to sign the log in sheet at the house. Please lock the doors when done showing. Read Showing Agent Information for all needed details and links.

20. 2009-01-16
    listed $39,200

    Show marketing remark (669 chars)

    This home is owned by the U. S. Department of Housing and Urban Development (HUD). This HUD home is sold "as-is" / "where-is" with any and all faults. Agents must be registered with HUD for the bidding process. Call listing office to bid your price on this house. Buyer must have a mortgage commitment or cash. This home is case number 291-238095. BUYERS AGENTS: Bids can get cancelled or contracts rejected, check www. bidselect.com DAILY for status of home. When showing this house HUD needs you to sign the log in sheet at the house. Please lock the doors when done showing. Read Showing Agent Information for all needed details and links.

ⓘ 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: $488 · $41/mo
• Projected year-2 tax: $873 · $73/mo
• Expected delta: +$385/yr (+$32/mo · 78.8%)

ⓘ 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 ≥105°F today · 20 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: $11,953
• − Mortgage interest: −$5,041
• − Property taxes: −$488
• − Insurance: −$450
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,618
• Taxable income: $1,443
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $2,495/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

+129.6% since first listed

6 events — show timeline

• 2026-05-14 Listed $90,000 SOMO
• 2019-05-24 Sold (Public Records) $350,000 Public Records
• 2016-06-10 Listed $93,794 SOMO
• 2009-08-27 Sold (Public Records) — Public Records
• 2009-06-26 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-01-16 Listed $39,200 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2025): $488 · +22.1% YoY. Source: county tax records.