2926 E Lombard St · Springfield, MO 65802

$175,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 13 Days on market

Built 1961 0.26 ac lot $168/sqft · 10% below area Est $195k · 10% under

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Why this score? — see what drove the D 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).

• ARV discount +12.1/15.0
• Cash flow +11.3/30.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• DSCR +3.3/10.0
• Schools +3.2/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well-maintained, this home offers a spacious living area, hardwood floors, and a beautifully updated bathroom. The kitchen features classic cabinetry with generous storage, and the refrigerator stays, adding immediate convenience for the new owner. Additional hallway closets provide even more storage. Enjoy the fenced backyard and covered patio--ideal for relaxing or entertaining--plus a two-car garage for everyday ease. A great opportunity for a first-time buyer or a solid addition to an investment portfolio, this home combines character, functionality, and value in a convenient location.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1961

Property features AI

Exterior

• Parking: 2-car garage with front-facing garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level
• Exterior features: Covered patio; Chain link fencing

Interior

• Kitchen: Electric oven; Free‑standing electric oven; Dishwasher
• Flooring: Carpet; Tile; Hardwood
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Ceiling fan(s); Natural gas forced-air heating
• Interior features: Ceiling fans; Central air; Natural gas heating; Forced air heating; Central heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-64 ($-771/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (25.5% below list).
• Recommended offer: $130k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.6% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Bingham Elem. (math 27% / reading 37%, grade F, #761 of 1,115 statewide, top 72%, 422 students, 78% FRL); Hickory Hills Middle (math 31% / reading 44%, grade F, #215 of 391 statewide, top 56%, 414 students, 46% FRL); Glendale High (math 21% / reading 55%, grade F, #290 of 521 statewide, top 56%, 1,307 students, 33% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 520 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,436 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1961 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 11.2

CMA / ARV

• ARV (median comp): $194,771
• List price: $175,000
• Delta: -10.15%
• 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
2822 E Cherry St	0.38mi	3/1.0	1,048 (+1%)	4mo	$140,000	$134	78
1247 S Estate Ave	0.50mi	3/1.0	1,040 (0%)	1mo	$167,500	$161	76
2829 E Monroe Terrace Ter	0.21mi	2/1.0 (-1)	1,001 (-4%)	6mo	$169,900	$170	74
1104 S Bruce Ave	0.41mi	2/1.0 (-1)	984 (-5%)	2mo	$175,000	$178	65
620 S Belcrest Ave	0.31mi	3/1.0	1,160 (+12%)	2mo	$94,900	$82	64
1304 S Meadowview Ave	0.54mi	3/2.0	1,050 (+1%)	7mo	$210,000	$200	64
2710 E Horning St	0.55mi	3/1.0	960 (-8%)	1mo	$159,900	$167	61
1249 S Belcrest Ave	0.49mi	3/1.5	1,132 (+9%)	2mo	$235,000	$208	59
2641 E Grand St	0.37mi	3/1.0	1,152 (+11%)	7mo	$179,900	$156	59
1263 S Cedarbrook Ave	0.54mi	3/1.0	1,152 (+11%)	1mo	$169,900	$147	56
1253 S Belcrest Ave	0.50mi	3/2.0	1,132 (+9%)	2mo	$219,000	$193	56
510 S Burton Ave	0.58mi	3/2.0	1,152 (+11%)	3mo	$199,900	$174	49

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: -17.1%
• Equity multiple: 0.39×
• Total profit: $-30,067
• Equity at exit: $26,093

10-year hold

• IRR: -6.3%
• Equity multiple: 0.57×
• Total profit: $-21,298
• Equity at exit: $15,131

Cash invested: $49,000 (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: 520
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$918
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-64

Break-even live

Break-even rent $1,386

Max offer price $163,655

Occupancy floor 100%

Sensitivity live

Price	-10% $35	-5% $-15	+0% $-64	+5% $-114	+10% $-163
Rent	-10% $-167	-5% $-116	+0% $-64	+5% $-13	+10% $39
Rate	-1.0pp $24	-0.5pp $-20	base $-64	+0.5pp $-110	+1.0pp $-156

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3080 E Cherry St Unit D312 Springfield, MO	2.0	2.0	730	$1,125	$1.54	25d	1	0.30mi
3080 E Cherry St Unit F104-ADA Springfield, MO	3.0	2.0	1030	$1,500	$1.46	25d	1	0.30mi
3080 E Cherry St Unit G308 Springfield, MO	2.0	2.0	730	$1,245	$1.71	45d	1	0.30mi
3080 E Cherry St Unit H104-ADA Springfield, MO	3.0	2.0	1030	$1,565	$1.52	45d	1	0.30mi
1302 S Estate Ave Springfield, MO	2.0	1.0	768	$1,100	$1.43	25d	1	0.52mi
3455 E Lombard St Springfield, MO	2.0	2.0	828	$905	$1.09	45d	1	0.66mi
3440 E Lombard St Unit 129 Springfield, MO	2.0	1.5	900	$875	$0.97	25d	1	0.67mi
3440 E Lombard St Unit 110 Springfield, MO	2.0	1.5	900	$875	$0.97	45d	1	0.67mi
1225 S Ingram Mill Rd Springfield, MO	1.0–2.0	1.0–2.0	1150	$2,345	$2.04	15d	4	0.68mi
3501 E Lombard St Springfield, MO	1.0–3.0	1.0–2.0	800	$1,065	$1.33	45d	1	0.69mi
2765 E Verona St Springfield, MO	3.0	2.0	1244	$1,600	$1.29	45d	1	0.73mi
2641 E Verona St Springfield, MO	3.0	2.0	1293	$1,750	$1.35	25d	1	0.78mi
1528 S Catalina Ave Springfield, MO	3.0	1.0	1326	$1,440	$1.09	45d	1	0.86mi
2804 E Linwood St Springfield, MO	3.0	2.0	1400	$1,650	$1.18	15d	1	0.87mi
2323 E Cherry St Springfield, MO	2.0	1.5	750	$1,195	$1.59	15d	1	0.88mi
2323 E Cherry St Springfield, MO	2.0	1.5	750	$1,195	$1.59	25d	1	0.88mi
1603 S Saint Charles Ave Springfield, MO	3.0	2.0	1452	$1,695	$1.17	45d	1	0.99mi
2942 E Stanford St Apt B Springfield, MO	2.0	1.0	784	$750	$0.96	25d	1	0.99mi
2831 E University St Springfield, MO	2.0	1.0	975	$1,095	$1.12	25d	1	1.02mi
2831 E University St Springfield, MO	2.0	1.0	950	$1,195	$1.26	15d	1	1.02mi
531 N Oak Grove Ave Springfield, MO	2.0	1.5	1184	$925	$0.78	45d	1	1.14mi
2146 E Bennett St Unit 0 Springfield, MO	2.0	1.0	1009	$895	$0.89	45d	1	1.14mi
2154 E Cairo St Springfield, MO	3.0	2.0	1100	$1,395	$1.27	45d	1	1.16mi
504 N Patterson Ave Apt C Springfield, MO	2.0	1.0	760	$725	$0.95	45d	1	1.19mi
2072 E Bennett St Springfield, MO	1.0–2.0	1.0	750	$935	$1.25	45d	5	1.22mi
2020 E Bennett St Springfield, MO	1.0–2.0	1.0	743	$930	$1.25	45d	6	1.30mi
1920 S Mayfair Ave Springfield, MO	4.0	2.0	1440	$1,895	$1.32	25d	1	1.31mi
2149 E Sunshine St Springfield, MO	1.0–2.0	1.0–1.5	671	$1,453	$2.17	15d	20	1.32mi
1834 E Monroe St Springfield, MO	2.0	1.0	792	$895	$1.13	45d	1	1.39mi
1868 S Ingram Mill Rd Apt A2 Springfield, MO	2.0	1.0	850	$725	$0.85	45d	1	1.42mi
1940 S Ingram Mill Rd Springfield, MO	2.0	1.0	900	$875	$0.97	15d	1	1.48mi

Listing history 8 events

1. 2026-05-06
   listed $175,000 Active 609-char remark
2. 2025-12-19
   listed $170,000 Active
3. 2025-11-13
   status Active
4. 2025-10-16
   status Pending
5. 2025-10-02
   listed $170,000 Active
6. 2019-10-28
   soldstatus
7. 2019-10-28
   soldstatus
8. 2019-09-10
   listed $105,000

ⓘ 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: $1,248 · $104/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$449/yr (+$37/mo · 36.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,652
• − Mortgage interest: −$9,803
• − Property taxes: −$1,248
• − Insurance: −$875
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$5,091
• Taxable loss: −$3,869
• Est. tax savings @ 24.0%: +$929
• After-tax cash flow: $158/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

+66.7% since first listed

9 events — show timeline

• 2026-05-19 Pending — SOMO
• 2026-05-06 Listed $175,000 SOMO
• 2025-12-19 Listed $170,000 SOMO
• 2025-11-13 Relisted — SOMO
• 2025-10-16 Pending — SOMO
• 2025-10-02 Listed $170,000 SOMO
• 2019-10-28 Sold (Public Records) — Public Records
• 2019-10-28 Sold (MLS) — SOMO
• 2019-09-10 Listed $105,000 SOMO

Property tax history

+3.3%/yr

Latest (2025): $1,248 · +3.2% YoY. Source: county tax records.