1607 W Nichols St · Springfield, MO 65802

$175,000

4 bd · 2.0 ba · 1,648 sqft · SingleFamily public records · 35 Days on market

Built 1923 0.51 ac lot $106/sqft · 7% above area Est $164k · 7% over

---

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 +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +4.9/10.0
• ARV discount +4.5/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity with immediate rental income of $1,455 per month. This charming home offers great curb appeal, a large lot, and plenty of potential for future value. Featuring 3 bedrooms plus an upstairs loft or play area, a main-level primary bedroom, and wood flooring, the property combines character and functionality. Excellent opportunity for investors looking to add an income-producing property to their portfolio, with possible future commercial rezoning potential adding additional upside.

Key facts

• Wood flooring
• Upstairs loft
• Large lot

Tags

• LARGE LOT
• UPSTAIRS LOFT
• MAIN-LEVEL PRIMARY BEDROOM
• WOOD FLOORING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residential; Residential property
• Construction: Composition roof
• Exterior features: Corner lot; Has a view; Asphalt road access; Covered front porch

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Unfinished partial basement; Main-level laundry; Covered front porch; Storm doors
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/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 $172k (1.5% below list).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Zoned-school proficiency averages 52% at this address vs 39% district-wide (+13 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 fast (+4.8%/yr); 513 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent runs 38% of the median local income ($55k/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 $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

• It's been on market 35 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 7 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 1923 — 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 $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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. 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: 0.99% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (median comp): $163,942
• List price: $175,000
• Delta: 6.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1149 W Hovey St	0.55mi	4/2.0	1,608 (-2%)	3mo	$219,900	$137	68
1324 W Brower St	0.27mi	3/2.0 (-1)	1,865 (+13%)	7mo	$209,999	$113	55
1421 N Broadway Ave	0.63mi	4/2.0	1,666 (+1%)	23mo	$200,000	$120	49
1200 W Webster St	0.35mi	4/1.0	1,544 (-6%)	24mo	$149,900	$97	49
2157 W Phelps St	0.63mi	3/1.0 (-1)	1,514 (-8%)	1mo	$164,900	$109	47
723 W Webster St	0.74mi	3/1.0 (-1)	1,751 (+6%)	2mo	$160,000	$91	45
828 N Marion Ave	0.35mi	4/1.5	1,440 (-13%)	22mo	$185,000	$128	43
526 N Forest Ave	0.73mi	4/2.0	1,776 (+8%)	14mo	$190,000	$107	42
2408 W Nichols St	0.67mi	4/1.5	1,809 (+10%)	16mo	$175,000	$97	37
726 W Calhoun St	0.74mi	4/1.0	1,416 (-14%)	14mo	$50,000	$35	26

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-8,052
• Equity at exit: $26,093

10-year hold

• IRR: 7.2%
• Equity multiple: 1.58×
• Total profit: $28,560
• 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: 513
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$918
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $269

Break-even live

Break-even rent $1,383

Max offer price $175,000

Occupancy floor 79%

Sensitivity live

Price	-10% $368	-5% $319	+0% $269	+5% $220	+10% $170
Rent	-10% $133	-5% $201	+0% $269	+5% $337	+10% $405
Rate	-1.0pp $357	-0.5pp $314	base $269	+0.5pp $224	+1.0pp $178

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 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 W Nichols St Springfield, MO	5.0	2.0	1320	$1,395	$1.06	45d	1	0.70mi
501 W Central St Springfield, MO	4.0	2.0	2000	$2,200	$1.10	24d	1	0.95mi
710 W Walnut St Springfield, MO	3.0	2.0	1350	$1,695	$1.26	45d	1	1.09mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,500	$1.11	14d	4	1.11mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,500	$1.11	24d	5	1.11mi
520 W Olive St Springfield, MO	3.0	2.0	1445	$1,538	$1.06	14d	5	1.12mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$2,300	$1.59	22d	5	1.16mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$2,300	$1.59	24d	5	1.16mi
2412 W Lincoln St Springfield, MO	3.0	1.0	1260	$1,295	$1.03	24d	1	1.18mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	45d	1	1.32mi
630 S Market Ave Springfield, MO	3.0	2.0	1758	$2,150	$1.22	45d	1	1.42mi
3016 W Hovey St Springfield, MO	3.0	2.0	1059	$1,350	$1.27	45d	1	1.45mi

Listing history 26 events

1. 2026-06-18
   days on market $175,000 Active 35 DOM
2. 2026-06-17
   days on market $175,000 Active 34 DOM
3. 2026-06-16
   days on market $175,000 Active 33 DOM
4. 2026-06-15
   days on market $175,000 Active 32 DOM
5. 2026-06-14
   days on market $175,000 Active 30 DOM
6. 2026-06-10
   days on market $175,000 Active 27 DOM
7. 2026-06-09
   days on market $175,000 Active 26 DOM
8. 2026-06-08
   days on market $175,000 Active 25 DOM
9. 2026-06-07
   days on market $175,000 Active 24 DOM
10. 2026-06-03
    days on market $175,000 Active 20 DOM
11. 2026-06-02
    days on market $175,000 Active 19 DOM
12. 2026-06-01
    days on market $175,000 Active 18 DOM
13. 2026-05-31
    days on market $175,000 Active 17 DOM
14. 2026-05-30
    days on market $175,000 Active 16 DOM
15. 2026-05-14
    listed $175,000 Active 504-char remark
16. 2025-10-23
    historical $1,455
17. 2025-08-28
    listed $1,455
18. 2023-11-08
    historical $1,295
19. 2023-10-25
    listed $1,295
20. 2023-08-30
    status Active
21. 2023-08-03
    historical
22. 2023-08-03
    status Active
23. 2023-07-31
    historical
24. 2023-07-28
    listed $169,900 Active
25. 2019-06-07
    soldstatus $300,000
26. 2016-02-15
    listed $95,033

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$470/yr (+$39/mo · 38.3%)

ⓘ 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: $20,689
• − Mortgage interest: −$9,803
• − Property taxes: −$1,228
• − Insurance: −$875
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$5,091
• Taxable income: $382
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $3,137/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

+84.1% since first listed

12 events — show timeline

• 2026-05-14 Listed $175,000 SOMO
• 2025-10-23 Rental Removed $1,455 APPFOLIO
• 2025-08-28 Listed for Rent $1,455 APPFOLIO
• 2023-11-08 Rental Removed $1,295 APPFOLIO
• 2023-10-25 Listed for Rent $1,295 APPFOLIO
• 2023-08-30 Relisted — SOMO
• 2023-08-03 Delisted — SOMO
• 2023-08-03 Relisted — SOMO
• 2023-07-31 Delisted — SOMO
• 2023-07-28 Listed $169,900 SOMO
• 2019-06-07 Sold (Public Records) $300,000 Public Records
• 2016-02-15 Listed $95,033 SOMO

Property tax history

+7.2%/yr

Latest (2025): $1,228 · +7.5% YoY. Source: county tax records.