1039 E Manchester Dr · Springfield, MO 65810

$345,000

4 bd · 3.0 ba · 2,486 sqft · SingleFamily public records · 37 Days on market

Built 1981 0.28 ac lot Est $375k · 8% 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).

• Cash flow +14.7/30.0
• ARV discount +11.1/15.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look at this home!! 4 bedroom 3 bath home with fenced in back yard. This house has a split floor plan. Living areas on both levels of the home. There is an additional fireplace downstairs. There is a large deck overlooking the spacious back yard.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1981

Property features AI

Exterior

• Parking: 2-car garage that faces the front
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels
• Construction: Vinyl siding and stucco exterior; Composition roof; Brick/mortar permanent foundation; Built with above-grade and finished below-grade living space
• Exterior features: Deck; Shed(s); Privacy wood fencing (full); Few trees; City street frontage on an asphalt, publicly maintained road; Has a view

Interior

• Kitchen: Electric oven; Free-standing electric oven; Microwave; Dishwasher; Refrigerator; Garbage disposal; Water purifier; Water softener (owned)
• Bedrooms: Bedrooms with walk-in closets
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating and cooling; Forced air heating; Natural gas heating; Heat pump; Ceiling fans; Attic fan
• Interior features: Pantry; Vaulted ceilings; Crown molding; Walk-in closets; Insulated double-pane windows with blinds and window coverings; Finished full basement; Wood-burning fireplace in family room and basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (18.9% below list).
• Recommended offer: $280k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• 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: Walt Disney Elem. (math 56% / reading 63%, grade B-, #124 of 1,115 statewide, top 13%, 568 students, 27% FRL); Cherokee Middle (math 50% / reading 62%, grade B-, #40 of 391 statewide, top 10%, 758 students, 27% FRL); Kickapoo High (math 39% / reading 66%, grade C-, #89 of 521 statewide, top 17%, 1,881 students, 26% FRL) — zoned schools average 27% FRL vs 46% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 56% at this address vs 39% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Springfield R-XII average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.5%/yr); 253 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).
• This rent runs 35% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 37 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $279,958 (18.9% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.81% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $375,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6059 S Clay Ave	0.50mi	4/2.5	2,463 (-1%)	1mo	$729,900	$296	72
1002 E Gaslight Dr	0.12mi	3/2.0 (-1)	2,278 (-8%)	2mo	$385,000	$169	69
1309 E Knobhill St	0.55mi	4/3.0	2,380 (-4%)	2mo	$349,900	$147	66
5620 S Mccann Ave	0.31mi	4/2.0	2,288 (-8%)	5mo	$325,000	$142	64
6040 S Kings Ave	0.41mi	3/2.5 (-1)	2,348 (-6%)	4mo	$550,000	$234	61
1317 E Highpoint St	0.53mi	4/3.0	2,255 (-9%)	1mo	$340,000	$151	59
1221 E Knobhill St	0.49mi	4/3.0	2,215 (-11%)	1mo	$329,000	$149	59
6165 S Maryland Ave	0.49mi	3/2.5 (-1)	2,331 (-6%)	4mo	$499,000	$214	57
6252 S Philmar Dr	0.71mi	3/3.5 (-1)	2,641 (+6%)	4mo	$389,900	$148	46
5628 S Moonshine Ct	0.67mi	4/2.5	2,774 (+12%)	3mo	$450,000	$162	45
5409 S Farm Road 163	0.47mi	5/2.0 (+1)	2,168 (-13%)	5mo	$270,000	$125	44
5745 Lakeview Ter	0.55mi	3/2.0 (-1)	2,132 (-14%)	3mo	$289,000	$136	39

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-51,878
• Equity at exit: $51,441

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-43,971
• Equity at exit: $29,829

Cash invested: $96,600 (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 65810

• Home prices YoY: -28.8%
• Rents YoY: 2.5%
• Active inventory: 253
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$173 /mo · $2,075/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $86

Break-even live

Break-even rent $2,691

Max offer price $345,000

Occupancy floor 92%

Sensitivity live

Price	-10% $281	-5% $183	+0% $86	+5% $-12	+10% $-110
Rent	-10% $-135	-5% $-25	+0% $86	+5% $196	+10% $307
Rate	-1.0pp $259	-0.5pp $173	base $86	+0.5pp $-4	+1.0pp $-95

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1182 E Evans St Springfield, MO	4.0	3.0	2032	$2,595	$1.28	16d	1	0.14mi
5955 S National Ave Unit 163 Springfield, MO	3.0	2.0	1630	$3,995	$2.45	46d	1	0.28mi
5305 S Michigan Ave Springfield, MO	2.0–3.0	2.0–2.5	1644	$2,017	$1.23	16d	3	1.22mi
1261 E Lakewood St Springfield, MO	4.0	2.5	1800	$1,595	$0.89	16d	1	1.24mi

Listing history 14 events

1. 2026-05-14
   status Pending
2. 2026-04-12
   historical Active Under Contract
3. 2026-04-06
   listed $345,000 Active
4. 2022-12-29
   soldstatus
5. 2022-12-28
   soldstatus Closed 253-char remark

   Show marketing remark (253 chars)

   Take a look at this home!! 4 bedroom 3 bath home with fenced in back yard. This house has a split floor plan. Living areas on both levels of the home. There is an additional fireplace downstairs. There is a large deck overlooking the spacious back yard.

6. 2022-11-11
   status Pending 253-char remark

   Show marketing remark (253 chars)

   Take a look at this home!! 4 bedroom 3 bath home with fenced in back yard. This house has a split floor plan. Living areas on both levels of the home. There is an additional fireplace downstairs. There is a large deck overlooking the spacious back yard.

7. 2022-11-10
   listed $295,000 Active 253-char remark

   Show marketing remark (253 chars)

   Take a look at this home!! 4 bedroom 3 bath home with fenced in back yard. This house has a split floor plan. Living areas on both levels of the home. There is an additional fireplace downstairs. There is a large deck overlooking the spacious back yard.

8. 2021-03-05
   soldstatus
9. 2021-03-03
   soldstatus 737-char remark

   Show marketing remark (737 chars)

   Kickapoo/Cherokee schools! Want access to a pool? 90 dollar HOA WHICH includes Common Area Maintenance; Snow Removal; Swimming Pool. At almost 2500 sq feet, it Has many great features! 4 bed/3 bath out building for storage, generator wired into electric system for auxiliary back up power, state of the art security system, home has huge attic space for storage and a bonus room, near the garage. This home is a split floor plan with the main living area upstairs. . It has wood floor, vaulted ceilings, private bath and access to the back deck. Downstairs has an additional living room with an additional fireplace, bedroom, and full bath. Large deck that overlooks the privacy fenced yard. There is a backup generator. Easy to show.

10. 2021-01-09
    listed $250,000 737-char remark

    Show marketing remark (737 chars)

    Kickapoo/Cherokee schools! Want access to a pool? 90 dollar HOA WHICH includes Common Area Maintenance; Snow Removal; Swimming Pool. At almost 2500 sq feet, it Has many great features! 4 bed/3 bath out building for storage, generator wired into electric system for auxiliary back up power, state of the art security system, home has huge attic space for storage and a bonus room, near the garage. This home is a split floor plan with the main living area upstairs. . It has wood floor, vaulted ceilings, private bath and access to the back deck. Downstairs has an additional living room with an additional fireplace, bedroom, and full bath. Large deck that overlooks the privacy fenced yard. There is a backup generator. Easy to show.

11. 2020-10-02
    listed $265,000
12. 2020-08-26
    listed $286,990
13. 2012-05-25
    soldstatus
14. 2003-07-07
    soldstatus

ⓘ 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: $2,075 · $173/mo
• Projected year-2 tax: $3,346 · $279/mo
• Expected delta: +$1,271/yr (+$106/mo · 61.2%)

ⓘ 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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,595
• − Mortgage interest: −$19,325
• − Property taxes: −$2,075
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$10,036
• Taxable loss: −$4,942
• Est. tax savings @ 24.0%: +$1,186
• After-tax cash flow: $2,215/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

• County: Greene County · 244,327 people
• City population: 223,044
• Metro: Springfield, MO
• Population (ZIP): 22,137
• Household income: $95,160
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 437.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 4% · Vietnam, China, Canada
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -78.67%
• Current HPI: 194.8736
• Rent YoY: ▲ 2.53%
• 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

+20.2% since first listed

14 events — show timeline

• 2026-05-14 Pending — SOMO
• 2026-04-12 Contingent — SOMO
• 2026-04-06 Listed $345,000 SOMO
• 2022-12-29 Sold (Public Records) — Public Records
• 2022-12-28 Sold (MLS) — SOMO
• 2022-11-11 Pending — SOMO
• 2022-11-10 Listed $295,000 SOMO
• 2021-03-05 Sold (Public Records) — Public Records
• 2021-03-03 Sold (MLS) — SOMO
• 2021-01-09 Listed $250,000 SOMO
• 2020-10-02 Listed $265,000 SOMO
• 2020-08-26 Listed $286,990 SOMO
• 2012-05-25 Sold (Public Records) — Public Records
• 2003-07-07 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,075 · +0.1% YoY. Source: county tax records.