1638 E Florida St · Springfield, MO 65803

$94,900

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 146 Days on market

Built 1950 0.62 ac lot $113/sqft · 28% below area Est $132k · 28% under ↓ 9% since listing

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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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.1/10.0
• 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

Endless potential! Cute starter home or rental! Extra lot for a spacious yard or to build another home!

Key facts

• Extra lot
• Spacious yard
• 0.62 acre lot

Tags

• EXTRA LOT
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+4.2%/yr); 394 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $656 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.01% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 8.3

CMA / ARV

• ARV (median comp): $131,668
• List price: $94,900
• Delta: -27.92%
• 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
1433 E Division St	0.44mi	2/1.0	844 (+0%)	0mo	$115,000	$136	78
1601 N Rogers Ave	0.50mi	2/1.0	840 (0%)	3mo	$129,900	$155	74
1847 E Dale St	0.38mi	2/1.0	848 (+1%)	9mo	$149,900	$177	73
2031 N Fremont Ave	0.39mi	2/1.0	866 (+3%)	6mo	$99,900	$115	71
1719 N Weller	0.26mi	2/1.0	768 (-9%)	3mo	$129,000	$168	71
2030 N Fremont Ave	0.37mi	2/1.5	906 (+8%)	3mo	$119,000	$131	65
1078 E Blaine St	0.69mi	2/1.0	841 (+0%)	3mo	$109,900	$131	65
2135 N Fremont Ave	0.48mi	2/1.0	804 (-4%)	8mo	$119,900	$149	64
1622 E Turner St	0.46mi	2/1.0	896 (+7%)	6mo	$130,000	$145	62
1355 E Atlantic St	0.37mi	2/1.0	940 (+12%)	8mo	$129,500	$138	56
2111 N Rogers Ave	0.49mi	2/1.0	962 (+14%)	1mo	$165,000	$172	52
1840 E Turner St	0.54mi	3/2.0 (+1)	896 (+7%)	7mo	$159,950	$179	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 · 4.24% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,498
• Equity at exit: $14,150

10-year hold

• IRR: 9.3%
• Equity multiple: 1.75×
• Total profit: $19,967
• Equity at exit: $8,205

Cash invested: $26,572 (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: 8.3×

Monthly cashflow live

• Estimated rent: $956 high
• Mortgage (P&I): −$498
• Tax from tax record: −$19 /mo · $224/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $200

Break-even live

Break-even rent $704

Max offer price $94,900

Occupancy floor 74%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 E Commercial St Unit B Springfield, MO	2.0	1.0	950	$775	$0.82	43d	1	0.15mi
1501 E Blaine St Springfield, MO	2.0	1.0	958	$695	$0.73	23d	1	0.18mi
1529 N Weller Ave Springfield, MO	2.0	1.0	870	$995	$1.14	23d	1	0.36mi
2054 N Rogers Ave Springfield, MO	2.0	1.0	888	$925	$1.04	13d	1	0.43mi
1447 E Oakwood Ln Springfield, MO	2.0	2.0	982	$1,395	$1.42	43d	1	0.56mi
2337 N Delaware Ave Springfield, MO	2.0	1.0	876	$1,195	$1.36	43d	1	0.56mi
1636 N National Ave Springfield, MO	3.0	1.5	1000	$995	$0.99	43d	1	0.58mi
2313 N Rogers Ave Unit 1 Springfield, MO	2.0	2.0	882	$950	$1.08	13d	1	0.67mi
1112 E Locust St Springfield, MO	2.0	1.0	840	$945	$1.12	23d	1	0.68mi
2345 N Prospect Ave Springfield, MO	2.0	1.0	792	$850	$1.07	13d	1	0.75mi
2337 N Ramsey Ave Springfield, MO	2.0	1.0	882	$875	$0.99	13d	1	0.78mi
2234 N Travis Ave Springfield, MO	1.0	1.0	890	$750	$0.84	43d	1	0.87mi
1306 N Frisco Ave Apt A Springfield, MO	2.0	1.5–2.0	970	$995	$1.03	13d	19	0.94mi
805 E Garfield St Springfield, MO	2.0	1.0	950	$950	$1.00	13d	1	0.99mi
716 E Locust St Unit A Springfield, MO	2.0	1.0	915	$850	$0.93	23d	1	1.03mi
2346 N Kellett Ave Apt B Springfield, MO	1.0	1.0	550	$825	$1.50	43d	1	1.07mi
2034 N Washington Ave Springfield, MO	2.0	1.0	800	$875	$1.09	43d	1	1.13mi
1825 N Oak Grove Ave Springfield, MO	3.0	1.0	852	$995	$1.17	43d	1	1.14mi
2650 N Barnes Ave Apt C22 Springfield, MO	2.0	2.0	1100	$1,000	$0.91	43d	1	1.18mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	13d	2	1.25mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	13d	1	1.34mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	43d	1	1.36mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	43d	1	1.37mi
3000 N Kentwood Ave Springfield, MO	1.0	1.0	650	$650	$1.00	13d	1	1.40mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	43d	1	1.42mi
1246 E Norton Rd Springfield, MO	1.0	1.0	650	$595	$0.92	43d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $94,900 Active 146 DOM
2. 2026-06-17
   days on market $94,900 Active 145 DOM
3. 2026-06-16
   days on market $94,900 Active 144 DOM
4. 2026-06-15
   days on market $94,900 Active 143 DOM
5. 2026-06-14
   pricedays on market $94,900 Active 141 DOM
6. 2026-06-10
   days on market $104,900 Active 138 DOM
7. 2026-06-09
   days on market $104,900 Active 137 DOM
8. 2026-06-08
   days on market $104,900 Active 136 DOM
9. 2026-06-07
   days on market $104,900 Active 135 DOM
10. 2026-06-03
    days on market $104,900 Active 131 DOM
11. 2026-06-02
    days on market $104,900 Active 130 DOM
12. 2026-06-01
    days on market $104,900 Active 129 DOM
13. 2026-05-31
    days on market $104,900 Active 128 DOM
14. 2026-05-30
    days on market $104,900 Active 127 DOM
15. 2026-05-04
    price $104,900 103-char remark

    Show marketing remark (103 chars)

    Endless potential! Cute starter home or rental! Extra lot for a spacious yard or to build another home!

16. 2026-01-23
    listed $115,000 Active 103-char remark

    Show marketing remark (103 chars)

    Endless potential! Cute starter home or rental! Extra lot for a spacious yard or to build another home!

ⓘ 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: $224 · $19/mo
• Projected year-2 tax: $921 · $77/mo
• Expected delta: +$696/yr (+$58/mo · 310.6%)

ⓘ 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 · 18 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: $11,477
• − Mortgage interest: −$5,316
• − Property taxes: −$224
• − Insurance: −$474
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$2,761
• Taxable income: $866
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,189/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

-8.8% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $104,900 SOMO
• 2026-01-23 Listed $115,000 SOMO

Property tax history

+1.4%/yr

Latest (2025): $224 · -1.4% YoY. Source: county tax records.