3235 W Calhoun St · Springfield, MO 65802

$118,000

3 bd · 1.0 ba · 1,354 sqft · SingleFamily public records · 35 Days on market

Built 1952 0.32 ac lot $87/sqft · 40% below area Est $195k · 40% 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.2/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

As-is sale -- priced for investors. Currently tenant occupied at $950/month. Located in an established Springfield neighborhood near Rutledge-Wilson Farm Park and within close proximity to King Food Saver on N Nolting Ave.

Key facts

• 0.32 acre lot
• Built 1952
• Listed 35 days

Tags

• NEAR RUTLEDGE-WILSON FARM PARK

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: No construction material or year built provided; No roof or foundation details provided
• Exterior features: Lot in Hancock Place subdivision; 0.32-acre lot

Interior

• Kitchen: No appliance details provided
• Bedrooms: Bedrooms located on main level
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating with forced air
• Interior features: One-level living
• Laundry & utility: No laundry details provided

🏷️ Possibly a rental listed for sale. The $118,000 price doesn't fit this home's estimated sale value (~$195,372) 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 $118k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $114k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Willard R-II (rural): math 41% / reading 50% proficiency, ranked #83 of 324 in MO (top 26%) — 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $816 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask is 24% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $114,460 (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 1952 — 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: 1.02% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (median comp): $195,372
• List price: $118,000
• Delta: -39.60%
• 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
3215 W Calhoun St	0.07mi	3/2.0	1,368 (+1%)	3mo	$192,500	$141	88
3200 W Lynn St	0.11mi	4/1.5 (+1)	1,352 (-0%)	4mo	$189,900	$140	85
1139 N Dickerson Ave	0.11mi	3/2.0	1,300 (-4%)	2mo	$229,900	$177	83
1137a N Dickerson Ave	0.14mi	3/2.0	1,300 (-4%)	2mo	$229,900	$177	81
1135 N Dickerson Ave	0.14mi	3/2.0	1,300 (-4%)	2mo	$229,900	$177	81
2930 W Lynn St	0.41mi	3/1.0	1,317 (-3%)	0mo	$149,900	$114	76
3215 W Bergman St	0.08mi	3/2.0	1,167 (-14%)	1mo	$199,900	$171	68
718 N Hillcrest Ave	0.60mi	4/2.0 (+1)	1,300 (-4%)	3mo	$154,500	$119	54
1258 N Colgate Ave	0.28mi	2/2.0 (-1)	1,166 (-14%)	3mo	$164,900	$141	52
1205 N Drury Ave	0.44mi	3/2.0	1,160 (-14%)	3mo	$185,000	$159	49
928 N Glenn Ave	0.57mi	4/2.0 (+1)	1,160 (-14%)	1mo	$155,000	$134	39
1906 N Golden Ave	0.66mi	4/2.0 (+1)	1,521 (+12%)	5mo	$145,000	$95	35

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,308
• Equity at exit: $17,594

10-year hold

• IRR: 9.6%
• Equity multiple: 1.79×
• Total profit: $26,161
• Equity at exit: $10,202

Cash invested: $33,040 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,199 high
• Mortgage (P&I): −$619
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $230

Break-even live

Break-even rent $908

Max offer price $118,000

Occupancy floor 76%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	43d	1	0.33mi
3031 W Pacific St Springfield, MO	3.0	1.5	1008	$1,295	$1.28	21d	1	0.57mi
250 N Hilton Ave Springfield, MO	2.0	2.0	1153	$628	$0.54	13d	1	0.91mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	43d	1	1.03mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	23d	1	1.06mi
3028 W Walnut St Springfield, MO	2.0	1.0	975	$850	$0.87	21d	1	1.07mi
2222 N Hillcrest Ave Springfield, MO	3.0	2.0	1800	$1,395	$0.78	43d	1	1.13mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	21d	1	1.15mi
3002 W Elm St Springfield, MO	3.0	2.0	1128	$1,295	$1.15	21d	1	1.16mi
547 S Hilton Ave Springfield, MO	3.0	1.0	1008	$1,175	$1.17	43d	1	1.23mi
412 S Duke Ave Springfield, MO	3.0	1.0	1400	$1,585	$1.13	13d	1	1.24mi
2602 W College St Springfield, MO	2.0	1.0	1350	$995	$0.74	13d	1	1.26mi
4149 W Burbank St Unit A Springfield, MO	2.0	1.0	1000	$900	$0.90	43d	1	1.42mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	43d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $118,000 Active 35 DOM
2. 2026-06-17
   days on market $118,000 Active 34 DOM
3. 2026-06-16
   days on market $118,000 Active 33 DOM
4. 2026-06-15
   days on market $118,000 Active 32 DOM
5. 2026-06-14
   days on market $118,000 Active 30 DOM
6. 2026-06-10
   days on market $118,000 Active 27 DOM
7. 2026-06-09
   days on market $118,000 Active 26 DOM
8. 2026-06-08
   days on market $118,000 Active 25 DOM
9. 2026-06-07
   days on market $118,000 Active 24 DOM
10. 2026-06-03
    days on market $118,000 Active 20 DOM
11. 2026-06-02
    days on market $118,000 Active 19 DOM
12. 2026-06-01
    days on market $118,000 Active 18 DOM
13. 2026-05-31
    days on market $118,000 Active 17 DOM
14. 2026-05-30
    days on market $118,000 Active 16 DOM
15. 2026-05-14
    listed $95,000 Active 222-char remark
16. 2021-03-12
    soldstatus $269,500
17. 2016-07-20
    listed $89,900

ⓘ 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: $592 · $49/mo
• Projected year-2 tax: $1,145 · $95/mo
• Expected delta: +$553/yr (+$46/mo · 93.4%)

ⓘ 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 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: $14,382
• − Mortgage interest: −$6,610
• − Property taxes: −$592
• − Insurance: −$590
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$3,433
• Taxable income: $857
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $2,549/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: Willard R-II
• NCES district ID: 2932010
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $50,200
• Composite: 39.04/100
• National rank: #4063
• State rank: #83 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

+31.3% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $118,000 SOMO
• 2026-05-14 Listed $95,000 SOMO
• 2021-03-12 Sold (Public Records) $269,500 Public Records
• 2016-07-20 Listed $89,900 SOMO

Property tax history

+1.6%/yr

Latest (2025): $592 · +17.1% YoY. Source: county tax records.