2420 E Blaine St · Springfield, MO 65803

$1,500,000

26 bd · 1.3 ba · 11,050 sqft · MultiFamily · 844 Days on market

Built 1952 Excellent condition 1.22 ac lot $136/sqft · 9% below area Est $1.64M · 9% under

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Why this score? — see what drove the C- 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 +14.6/30.0
• ARV discount +11.3/15.0
• Condition / age +5.0/5.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

THIS PROPERTY IS CASH-FLOWING AND AT/NEAR 100% OCCUPANCY!!! What a fantastic turn-key property. Apartments are in HIGH demand right now! Don't miss this opportunity to upgrade your investment portfolio! This whole 13 unit apartment building has been FULLY RENOVATED from the studs up and construction was just recently finished!! This apartment building is ready for you to purchase, located at 2420 E Blaine St, Springfield, MO 65803. Some attributes of this property include:- 5x Two Bedroom/One Bathroom Units- 4x One Bedroom/One Bathroom Units- 4x Three Bedroom/Two Bathroom Units- Laminate Vinyl Plank Flooring- Double Pane Vinyl Windows- Oversized Designated Parking Area- Laminate Kitchen Counters- Oven, Dishwasher, and Refrigerator provided- Utility Closet - Some Units Coin Operated W & D, Some in Unit- Smoke Detector & Sprinklers- Spacious Layout- Recently Remodeled Neighboring Properties- Located Near Essential Businesses- Common Areas Available- Fully Fenced Pet Park On-Site (Wooden Privacy Fenced)Don't miss this opportunity to obtain a NEWLY RENOVATED multi-family property in the thriving Greater Springfield Missouri Area. Don't wait to buy real-estate. .. buy real-estate and wait!

Key facts

• 1.22 acre lot
• Built 1952
• Listed 843 days

What this means for you Summary

Snapshot

• This is a 9×2bd/1ba + 4×3bd/2ba units multifamily listed at $1.50M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive. Per door: $28/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.36M (9.5% below list).
• Recommended offer: $1.32M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: Weller Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 297 students, 83% FRL); Pipkin Middle (math 20% / reading 29%, grade F, #324 of 391 statewide, top 83%, 340 students, 82% FRL) — zoned schools average 82% FRL vs 46% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 39% district-wide (-14 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); 506 active listings in the ZIP; 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 $10k of loan paydown is wiped out by about $45k 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

• It's been on market 844 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1952 — 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 $1,320,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 844 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $1,640,320
• List price: $1,500,000
• Delta: -8.55%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.24% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-202,701
• Equity at exit: $223,655

10-year hold

• IRR: -2.5%
• Equity multiple: 0.82×
• Total profit: $-73,873
• Equity at exit: $129,693

Cash invested: $420,000 (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 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 506
• Price-to-rent: 123.1×

Monthly cashflow live

• Estimated rent: $13,579 high
• Mortgage (P&I): −$7,866
• Tax est. 1.5%: −$1,875 /mo · $22,500/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,852
• Net cashflow: $361

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	2	1	$9,135
▸ 4× units	3	2	$4,440
Total (13 units)			$13,579

Break-even live

Break-even rent $13,122

Max offer price $1,500,000

Occupancy floor 92%

Sensitivity live

Price	-10% $1,398	-5% $880	+0% $361	+5% $-157	+10% $-675
Rent	-10% $-711	-5% $-175	+0% $361	+5% $898	+10% $1,434
Rate	-1.0pp $1,117	-0.5pp $743	base $361	+0.5pp $-27	+1.0pp $-423

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: $375,000
• Closing costs: $45,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1649 N Patterson Ave Unit B Springfield, MO	2.0	1.0	—	$950	—	72d	1	0.08mi
1825 N Oak Grove Ave Springfield, MO	3.0	1.0	852	$995	$1.17	92d	1	0.20mi
2223 N Link Ave Springfield, MO	3.0	2.0	—	$1,195	—	62d	1	0.78mi
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	92d	1	0.88mi
2650 N Barnes Ave Unit A 23 Springfield, MO	3.0	2.0	1200	$1,200	$1.00	92d	1	1.10mi
531 N Oak Grove Ave Springfield, MO	2.0	1.5	1184	$925	$0.78	92d	1	1.11mi
504 N Patterson Ave Apt C Springfield, MO	2.0	1.0	760	$725	$0.95	92d	1	1.14mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	72d	1	1.15mi
2650 N Barnes Ave Apt C22 Springfield, MO	2.0	2.0	1100	$1,000	$0.91	92d	1	1.16mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	72d	1	1.19mi
2264 E Nora St Springfield, MO	3.0	1.5	1366	$1,200	$0.88	62d	1	1.24mi
1722 N Fremont Ave Springfield, MO	1.0	1.0	—	$795	—	92d	1	1.28mi
2221 N Weller Ave Springfield, MO	3.0	2.0	1215	$1,395	$1.15	62d	1	1.31mi
2337 N Delaware Ave Springfield, MO	2.0	1.0	876	$1,195	$1.36	92d	1	1.32mi
1311 N Fremont Ave Springfield, MO	2.0	1.0	—	$995	—	72d	1	1.37mi
1447 E Oakwood Ln Springfield, MO	2.0	2.0	982	$1,395	$1.42	92d	1	1.39mi
1339 E Division St Springfield, MO	3.0	2.0	1186	$1,350	$1.14	72d	1	1.40mi
2054 N Rogers Ave Springfield, MO	2.0	1.0	888	$925	$1.04	62d	1	1.41mi
STE Springfield, MO	3.0	2.0	1477	$1,600	$1.08	62d	2	1.48mi

Listing history 34 events

1. 2026-07-08
   days on market $1,500,000 Active 844 DOM
2. 2026-07-07
   days on market $1,500,000 Active 843 DOM
3. 2026-07-06
   days on market $1,500,000 Active 842 DOM
4. 2026-07-05
   days on market $1,500,000 Active 841 DOM
5. 2026-07-04
   days on market $1,500,000 Active 840 DOM
6. 2026-07-03
   days on market $1,500,000 Active 839 DOM
7. 2026-07-02
   days on market $1,500,000 Active 838 DOM
8. 2026-07-01
   days on market $1,500,000 Active 837 DOM
9. 2026-06-30
   days on market $1,500,000 Active 836 DOM
10. 2026-06-29
    days on market $1,500,000 Active 835 DOM
11. 2026-06-28
    days on market $1,500,000 Active 834 DOM
12. 2026-06-28
    days on market $1,500,000 Active 833 DOM
13. 2026-06-27
    days on market $1,500,000 Active 832 DOM
14. 2026-06-25
    days on market $1,500,000 Active 830 DOM
15. 2026-06-23
    days on market $1,500,000 Active 828 DOM
16. 2026-06-22
    days on market $1,500,000 Active 827 DOM
17. 2026-06-18
    days on market $1,500,000 Active 824 DOM
18. 2026-06-17
    days on market $1,500,000 Active 823 DOM
19. 2026-06-16
    days on market $1,500,000 Active 822 DOM
20. 2026-06-15
    days on market $1,500,000 Active 821 DOM
21. 2026-06-14
    days on market $1,500,000 Active 819 DOM
22. 2026-06-10
    days on market $1,500,000 Active 816 DOM
23. 2026-06-09
    days on market $1,500,000 Active 815 DOM
24. 2026-06-08
    days on market $1,500,000 Active 814 DOM
25. 2026-06-07
    days on market $1,500,000 Active 813 DOM
26. 2026-06-03
    days on market $1,500,000 Active 809 DOM
27. 2026-06-02
    days on market $1,500,000 Active 808 DOM
28. 2026-06-01
    days on market $1,500,000 Active 807 DOM
29. 2026-05-31
    days on market $1,500,000 Active 806 DOM
30. 2026-05-30
    days on market $1,500,000 Active 805 DOM
31. 2025-07-09
    status Active 1213-char remark

    Show marketing remark (1213 chars)

    THIS PROPERTY IS CASH-FLOWING AND AT/NEAR 100% OCCUPANCY!!! What a fantastic turn-key property. Apartments are in HIGH demand right now! Don't miss this opportunity to upgrade your investment portfolio! This whole 13 unit apartment building has been FULLY RENOVATED from the studs up and construction was just recently finished!! This apartment building is ready for you to purchase, located at 2420 E Blaine St, Springfield, MO 65803. Some attributes of this property include:- 5x Two Bedroom/One Bathroom Units- 4x One Bedroom/One Bathroom Units- 4x Three Bedroom/Two Bathroom Units- Laminate Vinyl Plank Flooring- Double Pane Vinyl Windows- Oversized Designated Parking Area- Laminate Kitchen Counters- Oven, Dishwasher, and Refrigerator provided- Utility Closet - Some Units Coin Operated W & D, Some in Unit- Smoke Detector & Sprinklers- Spacious Layout- Recently Remodeled Neighboring Properties- Located Near Essential Businesses- Common Areas Available- Fully Fenced Pet Park On-Site (Wooden Privacy Fenced)Don't miss this opportunity to obtain a NEWLY RENOVATED multi-family property in the thriving Greater Springfield Missouri Area. Don't wait to buy real-estate. .. buy real-estate and wait!

32. 2025-05-20
    status Active 1213-char remark

    Show marketing remark (1213 chars)

    THIS PROPERTY IS CASH-FLOWING AND AT/NEAR 100% OCCUPANCY!!! What a fantastic turn-key property. Apartments are in HIGH demand right now! Don't miss this opportunity to upgrade your investment portfolio! This whole 13 unit apartment building has been FULLY RENOVATED from the studs up and construction was just recently finished!! This apartment building is ready for you to purchase, located at 2420 E Blaine St, Springfield, MO 65803. Some attributes of this property include:- 5x Two Bedroom/One Bathroom Units- 4x One Bedroom/One Bathroom Units- 4x Three Bedroom/Two Bathroom Units- Laminate Vinyl Plank Flooring- Double Pane Vinyl Windows- Oversized Designated Parking Area- Laminate Kitchen Counters- Oven, Dishwasher, and Refrigerator provided- Utility Closet - Some Units Coin Operated W & D, Some in Unit- Smoke Detector & Sprinklers- Spacious Layout- Recently Remodeled Neighboring Properties- Located Near Essential Businesses- Common Areas Available- Fully Fenced Pet Park On-Site (Wooden Privacy Fenced)Don't miss this opportunity to obtain a NEWLY RENOVATED multi-family property in the thriving Greater Springfield Missouri Area. Don't wait to buy real-estate. .. buy real-estate and wait!

33. 2025-05-02
    historical 1213-char remark

    Show marketing remark (1213 chars)

    THIS PROPERTY IS CASH-FLOWING AND AT/NEAR 100% OCCUPANCY!!! What a fantastic turn-key property. Apartments are in HIGH demand right now! Don't miss this opportunity to upgrade your investment portfolio! This whole 13 unit apartment building has been FULLY RENOVATED from the studs up and construction was just recently finished!! This apartment building is ready for you to purchase, located at 2420 E Blaine St, Springfield, MO 65803. Some attributes of this property include:- 5x Two Bedroom/One Bathroom Units- 4x One Bedroom/One Bathroom Units- 4x Three Bedroom/Two Bathroom Units- Laminate Vinyl Plank Flooring- Double Pane Vinyl Windows- Oversized Designated Parking Area- Laminate Kitchen Counters- Oven, Dishwasher, and Refrigerator provided- Utility Closet - Some Units Coin Operated W & D, Some in Unit- Smoke Detector & Sprinklers- Spacious Layout- Recently Remodeled Neighboring Properties- Located Near Essential Businesses- Common Areas Available- Fully Fenced Pet Park On-Site (Wooden Privacy Fenced)Don't miss this opportunity to obtain a NEWLY RENOVATED multi-family property in the thriving Greater Springfield Missouri Area. Don't wait to buy real-estate. .. buy real-estate and wait!

34. 2024-02-19
    listed $1,500,000 Active 1213-char remark

    Show marketing remark (1213 chars)

    THIS PROPERTY IS CASH-FLOWING AND AT/NEAR 100% OCCUPANCY!!! What a fantastic turn-key property. Apartments are in HIGH demand right now! Don't miss this opportunity to upgrade your investment portfolio! This whole 13 unit apartment building has been FULLY RENOVATED from the studs up and construction was just recently finished!! This apartment building is ready for you to purchase, located at 2420 E Blaine St, Springfield, MO 65803. Some attributes of this property include:- 5x Two Bedroom/One Bathroom Units- 4x One Bedroom/One Bathroom Units- 4x Three Bedroom/Two Bathroom Units- Laminate Vinyl Plank Flooring- Double Pane Vinyl Windows- Oversized Designated Parking Area- Laminate Kitchen Counters- Oven, Dishwasher, and Refrigerator provided- Utility Closet - Some Units Coin Operated W & D, Some in Unit- Smoke Detector & Sprinklers- Spacious Layout- Recently Remodeled Neighboring Properties- Located Near Essential Businesses- Common Areas Available- Fully Fenced Pet Park On-Site (Wooden Privacy Fenced)Don't miss this opportunity to obtain a NEWLY RENOVATED multi-family property in the thriving Greater Springfield Missouri Area. Don't wait to buy real-estate. .. buy real-estate and wait!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 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: $162,948
• − Mortgage interest: −$84,023
• − Property taxes: −$22,500
• − Insurance: −$7,500
• − Repairs & maintenance: −$13,036
• − Management: −$13,036
• − Depreciation: −$43,636
• Taxable loss: −$20,783
• Est. tax savings @ 24.0%: +$4,988
• After-tax cash flow: $9,323/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 · 12 photos

Excellent 100/100 None rehab

This fully renovated multi-family property is move-in ready with excellent condition and high demand. It offers a great opportunity for investors looking to maximize their investment.

Value-add opportunities

• Both Painting and minor touch-ups — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract tenants ↑
• Both Addition of modern fixtures — Modern fixtures can improve the home's appeal and attract both buyers and renters ↑

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Weller Elem. F MO #879/1,115 Nat'l #30,133/41,679 Middle Pipkin Middle F MO #324/391 Nat'l #10,474/14,009 High Central High D+ MO #92/521 Nat'l #5,016/17,239

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

4 events — show timeline

• 2025-07-09 Relisted — SOMO
• 2025-05-20 Relisted — SOMO
• 2025-05-02 Delisted — SOMO
• 2024-02-19 Listed $1,500,000 SOMO