1621 W Chestnut St · Springfield, MO 65802

$69,000

3 bd · 1.0 ba · 774 sqft · SingleFamily public records · 97 Days on market

Built 1941 7,841 sqft lot $89/sqft · 48% below area Est $134k · 48% 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 +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a great investment property! Current owners have been working hard on improvements. New subfloor, flooring, and plumbing to include a water manifold. New paint throughout, and ready for a new tenant soon!

Key facts

• New plumbing
• Water manifold
• New flooring

Tags

• INVESTMENT PROPERTY
• NEW SUBFLOOR
• NEW FLOORING
• NEW PLUMBING
• WATER MANIFOLD
• NEW PAINT

🏷️ Possibly a rental listed for sale. The $69,000 price doesn't fit this home's estimated sale value (~$133,765) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (+4.8%/yr); 512 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 $477 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 + 4.8% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $14k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 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 1941 — 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: 1.60% ✓
• Cap rate: 14.17%
• Cash-on-cash: 28.14%
• DSCR: 2.25
• GRM: 5.2

CMA / ARV

• ARV (median comp): $133,765
• List price: $69,000
• Delta: -48.42%
• 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
619 N Nettleton Ave	0.15mi	2/1.0 (-1)	800 (+3%)	10mo	$133,400	$167	74
659 N Lafontaine Ave	0.30mi	3/1.0	876 (+13%)	1mo	$164,900	$188	63
1521 W Hamilton St	0.53mi	2/1.0 (-1)	825 (+7%)	1mo	$134,900	$164	59
810 N West Ave	0.70mi	2/1.0 (-1)	768 (-1%)	3mo	$119,000	$155	59
1635 W Lynn St	0.57mi	2/1.0 (-1)	732 (-5%)	1mo	$115,000	$157	58
1126 W Calhoun St	0.57mi	2/1.0 (-1)	798 (+3%)	5mo	$149,900	$188	58
827 N Marion Ave	0.37mi	2/1.0 (-1)	871 (+12%)	3mo	$115,000	$132	55
1511 W Hamilton St	0.53mi	2/1.0 (-1)	825 (+7%)	9mo	$119,900	$145	52
1030 N Warren Ave	0.58mi	2/1.0 (-1)	700 (-10%)	7mo	$95,000	$136	46
1305 N Irving Ave	0.75mi	2/1.0 (-1)	832 (+8%)	2mo	$128,000	$154	45
1836 W Hovey St	0.65mi	2/1.0 (-1)	672 (-13%)	3mo	$50,000	$74	40
2322 W Olive St	0.74mi	2/1.0 (-1)	868 (+12%)	3mo	$64,900	$75	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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.02×
• Total profit: $19,708
• Equity at exit: $10,288

10-year hold

• IRR: 33.1%
• Equity multiple: 4.26×
• Total profit: $63,000
• Equity at exit: $5,966

Cash invested: $19,320 (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 65802

• Home prices YoY: -31.9%
• Rents YoY: 4.8%
• Active inventory: 512
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,104 high
• Mortgage (P&I): −$362
• Tax from tax record: −$28 /mo · $342/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $453

Break-even live

Break-even rent $530

Max offer price $69,000

Occupancy floor 54%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	13d	1	0.46mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	23d	1	0.47mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	23d	1	0.61mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	23d	1	0.69mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	43d	1	0.69mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	13d	1	0.70mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	43d	1	0.72mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	13d	3	0.73mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	43d	1	0.78mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	23d	1	0.83mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	43d	1	0.90mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	23d	1	0.91mi
865 S Douglas Ave Springfield, MO	2.0	2.0	850	$895	$1.05	13d	4	0.96mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	43d	1	0.99mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	13d	1	1.04mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	23d	5	1.06mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	13d	4	1.06mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	43d	1	1.06mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	43d	1	1.07mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	23d	5	1.09mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	21d	5	1.09mi
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	23d	1	1.12mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	13d	1	1.14mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	13d	8	1.19mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	13d	1	1.20mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	43d	1	1.20mi
430 W Pershing St Springfield, MO	2.0	2.0	765	$1,195	$1.56	13d	1	1.22mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	21d	1	1.35mi
847 S Grant Ave Springfield, MO	2.0	1.0	1080	$815	$0.75	43d	1	1.38mi
309 S Jefferson Ave Unit 211 Springfield, MO	2.0	2.0	762	$767	$1.01	43d	1	1.38mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	43d	1	1.41mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	13d	1	1.42mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	43d	1	1.45mi
707 South Ave Unit 5 Springfield, MO	4.0	2.0	1100	$1,275	$1.16	43d	1	1.46mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	43d	1	1.47mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	43d	1	1.47mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	21d	1	1.48mi

Listing history 18 events

1. 2026-06-03
   statusdays on market $69,000 Pending 97 DOM
2. 2026-06-02
   days on market $69,000 Active 96 DOM
3. 2026-06-01
   days on market $69,000 Active 95 DOM
4. 2026-05-31
   days on market $69,000 Active 94 DOM
5. 2026-05-30
   days on market $69,000 Active 93 DOM
6. 2026-04-30
   price $69,000 212-char remark

   Show marketing remark (212 chars)

   This is a great investment property! Current owners have been working hard on improvements. New subfloor, flooring, and plumbing to include a water manifold. New paint throughout, and ready for a new tenant soon!

7. 2026-04-02
   price $75,000 212-char remark

   Show marketing remark (212 chars)

   This is a great investment property! Current owners have been working hard on improvements. New subfloor, flooring, and plumbing to include a water manifold. New paint throughout, and ready for a new tenant soon!

8. 2026-02-26
   listed $82,500 Active 212-char remark

   Show marketing remark (212 chars)

   This is a great investment property! Current owners have been working hard on improvements. New subfloor, flooring, and plumbing to include a water manifold. New paint throughout, and ready for a new tenant soon!

9. 2026-01-06
   soldstatus Closed 756-char remark

   Show marketing remark (756 chars)

   Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

10. 2025-11-18
    historical Active Under Contract 756-char remark

    Show marketing remark (756 chars)

    Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

11. 2025-11-18
    status Active 756-char remark

    Show marketing remark (756 chars)

    Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

12. 2025-11-13
    historical Active Under Contract 756-char remark

    Show marketing remark (756 chars)

    Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

13. 2025-11-09
    listed $140,000 Active 756-char remark

    Show marketing remark (756 chars)

    Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

14. 2025-11-07
    historical $140,000 756-char remark

    Show marketing remark (756 chars)

    Don't walk, run to this beautifully updated 2-bedroom, 1-bath bungalow offering 936 sq ft of comfort and style. Recently remodeled in 2024, this home blends classic charm with modern convenience — featuring a brand-new roof, HVAC system, and appliances for total peace of mind. Step inside to a bright, inviting living space that flows into a refreshed kitchen, complete with sleek finishes and updated fixtures. Both bedrooms are comfortably sized, and the remodeled bathroom adds a touch of contemporary style. Conveniently located near local shops, restaurants, and downtown Springfield, this home offers the perfect balance of comfort. This turnkey property is perfect for anyone that is looking for a low-maintenance home with lasting value

15. 2025-03-20
    listed $95,000 Active
16. 2019-04-22
    soldstatus
17. 2019-04-19
    soldstatus
18. 2018-11-14
    listed $28,000

ⓘ 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: $342 · $28/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$328/yr (+$27/mo · 95.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°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: $13,246
• − Mortgage interest: −$3,865
• − Property taxes: −$342
• − Insurance: −$345
• − Repairs & maintenance: −$1,060
• − Management: −$1,060
• − Depreciation: −$2,007
• Taxable income: $4,568
• Est. tax owed @ 24.0%: −$1,096
• After-tax cash flow: $4,339/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): 46,739
• Household income: $55,019
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 1818.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 5% Black 4% Asian 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

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: ▼ -99.72%
• Current HPI: 212.9826
• Rent YoY: ▲ 4.82%
• 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

+146.4% since first listed

13 events — show timeline

• 2026-04-30 Price Changed $69,000 SOMO
• 2026-04-02 Price Changed $75,000 SOMO
• 2026-02-26 Listed $82,500 SOMO
• 2026-01-06 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-11-18 Contingent — MARIS as Distributed by MLS Grid
• 2025-11-18 Relisted — MARIS as Distributed by MLS Grid
• 2025-11-13 Contingent — MARIS as Distributed by MLS Grid
• 2025-11-09 Listed $140,000 MARIS as Distributed by MLS Grid
• 2025-11-07 Coming Soon $140,000 MARIS as Distributed by MLS Grid
• 2025-03-20 Listed $95,000 SOMO
• 2019-04-22 Sold (Public Records) — Public Records
• 2019-04-19 Sold (MLS) — SOMO
• 2018-11-14 Listed $28,000 SOMO

Property tax history

+0.7%/yr

Latest (2025): $342 · +17.3% YoY. Source: county tax records.