1020 W Nichols St · Springfield, MO 65802

$80,000

1 bd · 1.0 ba · 656 sqft · SingleFamily public records · 35 Days on market

Built 1900 4,792 sqft lot $122/sqft · 14% below area Est $93k · 14% 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 +26.1/30.0
• ARV discount +13.6/15.0
• DSCR +8.8/10.0
• 1% rule +5.8/10.0
• 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 tenant already in place in Springfield's Midtown area. This 1 bed, 1 bath home offers immediate rental income potential in a convenient location near downtown, shopping, dining, and local amenities. Functional layout with solid upside for investors looking to expand their portfolio. Sold as-is.

Key facts

• Convenient location
• Functional layout
• 4,792 sq ft lot

Tags

• IMMEDIATE RENTAL INCOME
• CONVENIENT LOCATION
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Total finished living area listed as 656 (above-grade finished area)
• Financial info: Tax information provided but financial specifics excluded
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residential; One story
• Construction: Built details not provided
• Exterior features: Lot approximately 0.11 acre; Subdivision: Greene-Not in List; Directions: From Fort and Nichols, head east on Nichols. House is on the right (south) side of road.

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); No cooling
• Interior features: One-level living
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($867 rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Weaver Elem. (math 27% / reading 47%, grade F, #611 of 1,115 statewide, top 59%, 224 students, 91% FRL); Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools average 71% FRL vs 46% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 512 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $553 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 + 4.8% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,600 (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 1900 — 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: 1.08% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

• ARV (median comp): $92,601
• List price: $80,000
• Delta: -13.61%
• 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
920 W Brower St	0.20mi	2/1.0 (+1)	624 (-5%)	1mo	$134,900	$216	77
1308 N Franklin Ave	0.27mi	2/1.0 (+1)	656 (0%)	10mo	$110,000	$168	74
920 W Central St	0.16mi	2/1.0 (+1)	700 (+7%)	13mo	$89,000	$127	66
1318 N Douglas Ave	0.38mi	2/1.0 (+1)	714 (+9%)	1mo	$92,500	$130	62
803 N Concord Ave	0.39mi	2/1.0 (+1)	720 (+10%)	4mo	$85,000	$118	57
806 N Farmer Ave	0.56mi	2/1.0 (+1)	672 (+2%)	15mo	$105,000	$156	52
1016 N Wabash Ave	0.69mi	2/1.0 (+1)	630 (-4%)	9mo	$89,900	$143	49
818 W College St	0.75mi	1/1.0	700 (+7%)	10mo	$50,000	$71	46
1635 W Lynn St	0.63mi	2/1.0 (+1)	732 (+12%)	1mo	$115,000	$157	45
1016 N Grant Ave	0.31mi	2/1.0 (+1)	742 (+13%)	16mo	$74,900	$101	45
1459 N Nettleton Ave	0.61mi	1/1.0	588 (-10%)	12mo	$89,900	$153	44
921 N Lexington Ave	0.62mi	2/1.0 (+1)	748 (+14%)	13mo	$133,500	$178	31

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: 1.7%
• Equity multiple: 1.07×
• Total profit: $1,480
• Equity at exit: $11,928

10-year hold

• IRR: 12.9%
• Equity multiple: 2.10×
• Total profit: $24,608
• Equity at exit: $6,917

Cash invested: $22,400 (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: 512
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $867 high
• Mortgage (P&I): −$420
• Tax from tax record: −$30 /mo · $364/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $202

Break-even live

Break-even rent $612

Max offer price $80,000

Occupancy floor 72%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	23d	1	0.28mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	13d	1	0.29mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	43d	1	0.42mi
733 W College St Springfield, MO	1.0	1.0	700	$750	$1.07	13d	1	0.75mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,150	$0.85	13d	4	0.80mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,150	$0.85	23d	5	0.80mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$969	$0.89	13d	8	0.90mi
305 S Campbell Ave Unit 208 Springfield, MO	1.0	1.0	649	$975	$1.50	13d	1	0.91mi
302 W Commercial St Unit 206F Springfield, MO	—	1.0	615	$850	$1.38	43d	1	0.94mi
209 W McDaniel St Unit 209-207 Springfield, MO	1.0	1.0	700	$950	$1.36	43d	1	0.97mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	43d	1	1.00mi
1623 N Jefferson Ave Unit B Springfield, MO	1.0	1.0	750	$950	$1.27	43d	1	1.02mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	43d	1	1.13mi
301 W State St Unit D Springfield, MO	1.0	1.0	570	$875	$1.54	23d	1	1.28mi
940 E Webster St Springfield, MO	—	1.0	350	$735	$2.10	43d	1	1.34mi
511 E Cherry St Unit 8 Springfield, MO	1.0	1.0	500	$775	$1.55	13d	1	1.34mi
511 E Cherry St Unit 2 Springfield, MO	1.0	1.0	700	$850	$1.21	43d	1	1.34mi
934 E Webster St Springfield, MO	—	1.0	350	$818	$2.34	13d	6	1.35mi
435 E Harrison St Unit 50302 Springfield, MO	—	1.0	400	$895	$2.24	23d	1	1.38mi
435 E Harrison St Unit 435108 Springfield, MO	—	1.0	400	$700	$1.75	13d	1	1.38mi
435 E Harrison St Unit 435203 Springfield, MO	—	1.0	400	$895	$2.24	13d	1	1.39mi
755 South Ave Unit 2 Springfield, MO	1.0	1.0	600	$850	$1.42	23d	1	1.40mi
407 E Dale St Apt B Springfield, MO	2.0	1.0	720	$795	$1.10	13d	1	1.41mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	43d	1	1.46mi
806 South Ave Springfield, MO	1.0	1.0	670	$1,085	$1.62	13d	3	1.47mi
745 S Jefferson Ave Unit 1 Springfield, MO	1.0	1.0	410	$795	$1.94	23d	1	1.50mi
745 S Jefferson Ave Unit 6 Springfield, MO	1.0	1.0	500	$850	$1.70	43d	1	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $80,000 Active 35 DOM
2. 2026-06-17
   days on market $80,000 Active 34 DOM
3. 2026-06-16
   days on market $80,000 Active 33 DOM
4. 2026-06-15
   days on market $80,000 Active 32 DOM
5. 2026-06-14
   days on market $80,000 Active 30 DOM
6. 2026-06-10
   days on market $80,000 Active 27 DOM
7. 2026-06-09
   days on market $80,000 Active 26 DOM
8. 2026-06-08
   days on market $80,000 Active 25 DOM
9. 2026-06-07
   days on market $80,000 Active 24 DOM
10. 2026-06-03
    days on market $80,000 Active 20 DOM
11. 2026-06-02
    days on market $80,000 Active 19 DOM
12. 2026-06-01
    days on market $80,000 Active 18 DOM
13. 2026-05-31
    days on market $80,000 Active 17 DOM
14. 2026-05-30
    days on market $80,000 Active 16 DOM
15. 2026-05-14
    listed $80,000 Active 321-char remark
16. 2023-07-12
    historical

ⓘ 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: $364 · $30/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$412/yr (+$34/mo · 113.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 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: $10,405
• − Mortgage interest: −$4,481
• − Property taxes: −$364
• − Insurance: −$400
• − Repairs & maintenance: −$832
• − Management: −$832
• − Depreciation: −$2,327
• Taxable income: $1,168
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $2,142/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

2 events — show timeline

• 2026-05-14 Listed $80,000 SOMO
• 2023-07-12 Rental Removed — APPFOLIO

Property tax history

+4.7%/yr

Latest (2025): $364 · +47.4% YoY. Source: county tax records.