1532 W Thoman St · Springfield, MO 65803

$82,000

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 54 Days on market

Built 1917 Fair condition 7,405 sqft lot $93/sqft · 32% below area Est $121k · 32% 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Springfield featuring a 2 bedroom, 1 bathroom home with strong potential for future returns. Conveniently located near shopping, dining, and major roadways, this property offers a functional layout and excellent opportunity for investors looking to expand their portfolio or add another rental property to their holdings.

Key facts

• 7,405 sq ft lot
• Built 1917
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Bowerman Elem. (math 17% / reading 27%, grade F, #910 of 1,115 statewide, top 83%, 243 students, 90% FRL); Reed Middle (math 33% / reading 44%, grade F, #202 of 391 statewide, top 54%, 512 students, 70% FRL); Hillcrest High (math 9% / reading 35%, grade F, #462 of 521 statewide, top 90%, 1,017 students, 64% FRL) — zoned schools average 74% FRL vs 46% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.2%/yr); 506 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $567 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 1917 — 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 $79,540 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.22% ✓
• Cap rate: 10.49%
• Cash-on-cash: 14.97%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (median comp): $120,714
• List price: $82,000
• Delta: -32.07%
• 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
1330 W Atlantic St	0.17mi	2/1.0	800 (-10%)	0mo	$119,900	$150	76
2234 N Fay Ave	0.46mi	2/1.0	867 (-2%)	4mo	$129,900	$150	72
1634 W Lee St	0.18mi	2/1.0	784 (-11%)	2mo	$86,900	$111	71
1121 W Florida St	0.33mi	2/2.0	844 (-4%)	3mo	$57,000	$68	70
2105 N Elizabeth Ave	0.41mi	2/1.0	830 (-6%)	4mo	$98,500	$119	68
1707 W Hovey St	0.49mi	2/1.0	825 (-7%)	2mo	$100,000	$121	65
1321 N Wabash Ave	0.71mi	2/1.0	908 (+3%)	1mo	$114,900	$127	61
1625 W High St	0.36mi	2/1.0	768 (-13%)	0mo	$105,000	$137	61
1521 W Hamilton St	0.61mi	2/1.0	825 (-7%)	2mo	$134,900	$164	58
2024 N Columbia Ave	0.75mi	3/1.0 (+1)	960 (+9%)	1mo	$157,900	$164	45
1520 W Lynn St	0.57mi	3/1.0 (+1)	1,006 (+14%)	3mo	$130,000	$129	43
2335 N Johnston Ave	0.62mi	3/2.0 (+1)	995 (+13%)	0mo	$179,900	$181	41

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: 6.8%
• Equity multiple: 1.27×
• Total profit: $6,202
• Equity at exit: $12,226

10-year hold

• IRR: 17.1%
• Equity multiple: 2.49×
• Total profit: $34,129
• Equity at exit: $7,090

Cash invested: $22,960 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 47 active · 33 under contract
• Months of supply: 5.1 mo (20%/mo absorbed)
• Median asking: $115,000 ($130/sqft)
• Median days on market: 63 d
• This list price: 21% of active listings are priced below it
• ARV vs active asking: +5.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 65803

• Home prices YoY: -29.8%
• Rents YoY: 4.2%
• Active inventory: 506
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,002 high
• Mortgage (P&I): −$430
• Tax from tax record: −$41 /mo · $490/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $286

Break-even live

Break-even rent $639

Max offer price $82,000

Occupancy floor 66%

Sensitivity live

Price	-10% $333	-5% $310	+0% $286	+5% $263	+10% $240
Rent	-10% $207	-5% $247	+0% $286	+5% $326	+10% $366
Rate	-1.0pp $328	-0.5pp $307	base $286	+0.5pp $265	+1.0pp $244

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: $20,500
• Closing costs: $2,460
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	93d	1	0.35mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	62d	1	0.35mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	93d	1	0.43mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	72d	1	0.69mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	72d	1	0.69mi
2115 N Grace Ave Springfield, MO	2.0	1.0	650	$850	$1.31	93d	1	0.76mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	62d	1	0.87mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	93d	1	0.94mi
2224 N Clifton Ave Unit 2238-A Springfield, MO	2.0	1.0	756	$695	$0.92	62d	1	0.98mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	70d	1	1.04mi
2230 N Campbell Ave Springfield, MO	2.0	1.0	1084	$1,095	$1.01	93d	1	1.08mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	93d	1	1.17mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	93d	1	1.19mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	93d	1	1.22mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	72d	1	1.22mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	93d	1	1.24mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	62d	1	1.26mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	62d	1	1.26mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	72d	1	1.31mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	93d	1	1.34mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	93d	1	1.37mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	93d	1	1.40mi
2034 N Washington Ave Springfield, MO	2.0	1.0	800	$875	$1.09	93d	1	1.44mi
3031 W Pacific St Springfield, MO	3.0	1.5	1008	$1,295	$1.28	70d	1	1.47mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	62d	2	1.48mi

Property features AI

Exterior

• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne level
• Construction: Built on standard foundation
• Exterior features: Composition roofAsphalt road access on a public maintained city street

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioningCentral heating with forced airElectric and natural gas heating options
• Interior features: Basement is partial and unfinishedHas a view

Listing history 32 events

1. 2026-07-07
   days on market $82,000 Active 54 DOM
2. 2026-07-06
   days on market $82,000 Active 53 DOM
3. 2026-07-05
   days on market $82,000 Active 52 DOM
4. 2026-07-04
   days on market $82,000 Active 51 DOM
5. 2026-07-03
   days on market $82,000 Active 50 DOM
6. 2026-07-02
   days on market $82,000 Active 49 DOM
7. 2026-07-01
   days on market $82,000 Active 48 DOM
8. 2026-06-30
   days on market $82,000 Active 47 DOM
9. 2026-06-29
   days on market $82,000 Active 46 DOM
10. 2026-06-28
    days on market $82,000 Active 45 DOM
11. 2026-06-28
    days on market $82,000 Active 44 DOM
12. 2026-06-27
    days on market $82,000 Active 43 DOM
13. 2026-06-25
    days on market $82,000 Active 41 DOM
14. 2026-06-23
    days on market $82,000 Active 39 DOM
15. 2026-06-22
    days on market $82,000 Active 38 DOM
16. 2026-06-18
    days on market $82,000 Active 35 DOM
17. 2026-06-17
    days on market $82,000 Active 34 DOM
18. 2026-06-16
    days on market $82,000 Active 33 DOM
19. 2026-06-15
    days on market $82,000 Active 32 DOM
20. 2026-06-14
    days on market $82,000 Active 30 DOM
21. 2026-06-10
    days on market $82,000 Active 27 DOM
22. 2026-06-09
    days on market $82,000 Active 26 DOM
23. 2026-06-08
    days on market $82,000 Active 25 DOM
24. 2026-06-07
    days on market $82,000 Active 24 DOM
25. 2026-06-03
    days on market $82,000 Active 20 DOM
26. 2026-06-02
    days on market $82,000 Active 19 DOM
27. 2026-06-01
    days on market $82,000 Active 18 DOM
28. 2026-05-31
    days on market $82,000 Active 17 DOM
29. 2026-05-30
    days on market $82,000 Active 16 DOM
30. 2026-05-14
    listed $82,000 Active 345-char remark
31. 2019-05-31
    soldstatus $150,000
32. 2016-01-24
    listed $71,669

ⓘ 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: $490 · $41/mo
• Projected year-2 tax: $795 · $66/mo
• Expected delta: +$305/yr (+$25/mo · 62.3%)

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,023
• − Mortgage interest: −$4,593
• − Property taxes: −$490
• − Insurance: −$410
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,385
• Taxable income: $2,221
• Est. tax owed @ 24.0%: −$533
• After-tax cash flow: $2,905/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $22,100–$39,780 screening

This single-family home in Springfield, MO, requires significant repairs and maintenance, including a new roof, siding, and paint, as well as new flooring and interior repairs. Improvements in these areas would significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of water damage and possible leaks.
• Major siding — Peeling paint and visible damage.
• Major flooring — Old and worn, with visible signs of wear and tear.
• Major interior walls/paint — Peeling paint and possible water damage.
• Major landscaping — Overgrown and not maintained, detracting from curb appeal.

Value-add opportunities

• Both New roof — A new roof would significantly improve the home's appearance and functionality. ↑
• Both New siding and paint — New siding and paint would improve the home's curb appeal and overall condition. ↑
• Both New flooring — New flooring would improve the home's appearance and functionality. ↑
• Both Interior paint and repairs — New paint and repairs would improve the home's interior condition and appearance. ↑
• Both Landscaping and curb appeal — A well-maintained landscape would improve the home's curb appeal and overall condition. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Bowerman Elem. F MO #910/1,115 Nat'l #32,000/41,679 Middle Reed Middle F MO #202/391 Nat'l #6,453/14,009 High Hillcrest High F MO #462/521 Nat'l #13,673/17,239

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

Property features AI

Exterior

• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne level
• Construction: Built on standard foundation
• Exterior features: Composition roofAsphalt road access on a public maintained city street

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioningCentral heating with forced airElectric and natural gas heating options
• Interior features: Basement is partial and unfinishedHas a view

Price history

+14.4% since first listed

3 events — show timeline

• 2026-05-14 Listed $82,000 SOMO
• 2019-05-31 Sold (Public Records) $150,000 Public Records
• 2016-01-24 Listed $71,669 SOMO

Property tax history

+3.0%/yr

Latest (2025): $490 · +21.7% YoY. Source: county tax records.