1518 W Nichols St · Springfield, MO 65802

$145,000

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 38 Days on market

Built 1923 7,405 sqft lot $125/sqft · at area comps Est $146k · at est.

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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 +14.3/30.0
• ARV discount +7.7/15.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +3.2/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in North Springfield with immediate cash flow. This 3 bedroom, 1 bathroom home is currently tenant occupied and generating $1,200 per month in rental income. Offering a functional layout and strong rental appeal, this property would make a great addition to any investment portfolio or a solid option for investors looking to expand their holdings.

Key facts

• 7,405 sq ft lot
• Built 1923
• Listed 38 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Composition roof
• Exterior features: Asphalt road frontage on a public, city-maintained street

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric and natural gas heating with forced air
• Interior features: Has view

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $26 ($314/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 $119k (18.1% below list).
• Recommended offer: $119k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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); Pipkin Middle (math 20% / reading 29%, grade F, #324 of 391 statewide, top 83%, 340 students, 82% FRL); Central High (math 42% / reading 62%, grade D+, #92 of 521 statewide, top 20%, 1,464 students, 51% FRL) — zoned schools average 75% FRL vs 46% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 520 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $4k 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 38 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• 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 $118,705 (18.1% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% 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. 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?
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: 0.82% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (median comp): $145,795
• List price: $145,000
• Delta: -0.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1431 W Nichols St	0.07mi	2/3.0 (-1)	1,163 (+0%)	1mo	$205,000	$176	83
1735 W Webster St	0.28mi	3/2.0	1,176 (+1%)	2mo	$185,000	$157	79
920 N Broadway Ave	0.47mi	3/1.0	1,124 (-3%)	2mo	$149,777	$133	71
1535 W Calhoun St	0.27mi	3/1.0	1,262 (+9%)	3mo	$139,000	$110	71
1520 W Lynn St	0.36mi	3/1.0	1,006 (-13%)	1mo	$130,000	$129	60
937 N Missouri Ave	0.54mi	2/2.0 (-1)	1,207 (+4%)	0mo	$180,000	$149	59
1027 Warren Ave	0.63mi	3/2.0	1,209 (+4%)	2mo	$180,000	$149	58
903 N Lexington Ave	0.22mi	4/2.0 (+1)	1,306 (+13%)	2mo	$174,999	$134	58
832 West Calhoun St	0.62mi	3/2.0	1,100 (-5%)	1mo	$99,900	$91	57
2019 W Webster St	0.46mi	2/1.0 (-1)	1,004 (-13%)	1mo	$120,000	$120	51
902 W Central St	0.57mi	2/1.0 (-1)	1,008 (-13%)	2mo	$144,900	$144	45
521 N Warren Ave	0.73mi	2/1.0 (-1)	1,260 (+9%)	2mo	$119,500	$95	45

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-19,655
• Equity at exit: $21,620

10-year hold

• IRR: -1.9%
• Equity multiple: 0.86×
• Total profit: $-5,697
• Equity at exit: $12,537

Cash invested: $40,600 (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 65802

• Home prices YoY: -31.9%
• Rents YoY: 4.8%
• Active inventory: 520
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$760
• Tax from tax record: −$91 /mo · $1,090/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $26

Break-even live

Break-even rent $1,154

Max offer price $145,000

Occupancy floor 93%

Sensitivity live

Price	-10% $108	-5% $67	+0% $26	+5% $-15	+10% $-56
Rent	-10% $-68	-5% $-21	+0% $26	+5% $73	+10% $120
Rate	-1.0pp $99	-0.5pp $63	base $26	+0.5pp $-11	+1.0pp $-50

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	25d	1	0.23mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	45d	1	0.68mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	15d	1	0.69mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	25d	1	0.72mi
616 W Webster St Springfield, MO	2.0	1.5	1178	$1,050	$0.89	15d	1	0.79mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	25d	1	0.81mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	45d	1	0.84mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	15d	3	0.88mi
603 W Division St Springfield, MO	2.0	1.0	816	$995	$1.22	15d	1	0.93mi
539 S Fort Ave Springfield, MO	2.0	1.0	1500	$1,025	$0.68	15d	1	1.01mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	45d	1	1.03mi
865 S Douglas Ave Springfield, MO	2.0	2.0	850	$895	$1.05	15d	4	1.05mi
710 W Walnut St Springfield, MO	3.0	2.0	1350	$1,695	$1.26	45d	1	1.05mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	15d	4	1.07mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,383	$1.02	25d	5	1.07mi
520 W Olive St Springfield, MO	3.0	2.0	1445	$1,538	$1.06	15d	5	1.07mi
623 W Walnut St Springfield, MO	2.0	2.0	1180	$1,300	$1.10	45d	1	1.07mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	25d	1	1.08mi
518 W College St Unit UBL 106 Springfield, MO	2.0	2.0	1200	$1,375	$1.15	45d	1	1.09mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	45d	1	1.11mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	22d	5	1.12mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,862	$1.29	25d	5	1.12mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	15d	1	1.18mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	15d	8	1.19mi
2602 W College St Springfield, MO	2.0	1.0	1350	$995	$0.74	15d	1	1.20mi
2117 N Lexington Ave Springfield, MO	3.0	1.0	1040	$1,195	$1.15	45d	1	1.21mi
2120 N Johnston Ave Springfield, MO	2.0	1.0	880	$925	$1.05	45d	1	1.22mi
2412 W Lincoln St Springfield, MO	3.0	1.0	1260	$1,295	$1.03	25d	1	1.22mi
2126 N Lexington Ave Springfield, MO	2.0	1.0	990	$895	$0.90	15d	1	1.22mi
430 W Pershing St Springfield, MO	2.0	2.0	765	$1,195	$1.56	15d	1	1.26mi
1530 N Robberson Ave Springfield, MO	3.0	2.0	1122	$1,425	$1.27	45d	1	1.27mi
203 W Commercial St Unit 2F Springfield, MO	2.0	1.0	1000	$1,150	$1.15	22d	1	1.27mi
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	25d	1	1.28mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	45d	1	1.28mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	45d	1	1.30mi
309 S Jefferson Ave Unit 211 Springfield, MO	2.0	2.0	762	$767	$1.01	45d	1	1.39mi
1409 N Washington Ave Springfield, MO	2.0	1.0	839	$1,405	$1.67	15d	2	1.43mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	15d	1	1.43mi
317 E Chase St Springfield, MO	2.0	2.0	915	$1,100	$1.20	45d	1	1.45mi

Listing history 18 events

1. 2026-06-22
   days on market $145,000 Active 38 DOM
2. 2026-06-18
   days on market $145,000 Active 35 DOM
3. 2026-06-17
   days on market $145,000 Active 34 DOM
4. 2026-06-16
   days on market $145,000 Active 33 DOM
5. 2026-06-15
   days on market $145,000 Active 32 DOM
6. 2026-06-14
   days on market $145,000 Active 30 DOM
7. 2026-06-10
   days on market $145,000 Active 27 DOM
8. 2026-06-09
   days on market $145,000 Active 26 DOM
9. 2026-06-08
   days on market $145,000 Active 25 DOM
10. 2026-06-07
    days on market $145,000 Active 24 DOM
11. 2026-06-03
    days on market $145,000 Active 20 DOM
12. 2026-06-02
    days on market $145,000 Active 19 DOM
13. 2026-06-01
    days on market $145,000 Active 18 DOM
14. 2026-05-31
    days on market $145,000 Active 17 DOM
15. 2026-05-30
    days on market $145,000 Active 16 DOM
16. 2026-05-14
    listed $145,000 Active 369-char remark
17. 2021-10-13
    soldstatus
18. 2021-10-13
    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: $1,090 · $91/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$317/yr (+$26/mo · 29.1%)

ⓘ 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 · 19 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: $14,245
• − Mortgage interest: −$8,122
• − Property taxes: −$1,090
• − Insurance: −$725
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$4,218
• Taxable loss: −$2,190
• Est. tax savings @ 24.0%: +$525
• After-tax cash flow: $839/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

3 events — show timeline

• 2026-05-14 Listed $145,000 SOMO
• 2021-10-13 Sold (Public Records) — Public Records
• 2021-10-13 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,090 · +16.8% YoY. Source: county tax records.