298 Nicholson Dr · Potosi, MO 63664

$169,000

3 bd · 1.0 ba · 1,242 sqft · Other public records · 62 Days on market

Built 1962 0.94 ac lot $136/sqft · at area comps Est $171k · 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).

• Appreciation +10.0/10.0
• ARV discount +8.1/15.0
• Cash flow +7.8/30.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

Cozy + space + opportunity at 298 Nicholson Dr in Potosi, MO! This 3 bed, 2 bath ranch offers 1,242 sq ft, a wood-burning fireplace, 2-car attached garage, and sits on THREE city lots—giving you room to grow and added privacy. With a functional layout and a little TLC, this home is perfect for buyers or investors looking to build equity. Convenient location with a peaceful feel. Homes with this much space and character sell fast - schedule your showing today!

Key facts

• 0.94 acre lot
• 2 garage spots
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $169k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (36.5% below list).
• Recommended offer: $107k (36.5% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.7% in Potosi — 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 65/100 on livability (#287 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools D+, crime F, amenities D-.
• Potosi R-III (town): math 44% / reading 56% proficiency, ranked #53 of 324 in MO (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 82 active listings in the ZIP.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Washington County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $107,244 (36.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• GRM: 13.1

CMA / ARV

• ARV (median comp): $171,098
• List price: $169,000
• Delta: -1.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 2.69×
• Total profit: $79,819
• Equity at exit: $152,249

10-year hold

• IRR: 18.9%
• Equity multiple: 6.17×
• Total profit: $244,488
• Equity at exit: $328,330

Cash invested: $47,320 (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 63664

• Home prices YoY: 25.1%
• Active inventory: 82
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$81 /mo · $978/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-191

Break-even live

Break-even rent $1,314

Max offer price $135,273

Occupancy floor —

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $169,000 Active 62 DOM
2. 2026-06-17
   days on market $169,000 Active 61 DOM
3. 2026-06-16
   days on market $169,000 Active 60 DOM
4. 2026-06-15
   days on market $169,000 Active 59 DOM
5. 2026-06-13
   days on market $169,000 Active 57 DOM
6. 2026-06-12
   days on market $169,000 Active 56 DOM
7. 2026-06-09
   days on market $169,000 Active 53 DOM
8. 2026-06-08
   days on market $169,000 Active 52 DOM
9. 2026-06-07
   days on market $169,000 Active 51 DOM
10. 2026-06-07
    days on market $169,000 Active 50 DOM
11. 2026-06-04
    days on market $169,000 Active 47 DOM
12. 2026-06-02
    days on market $169,000 Active 46 DOM
13. 2026-06-01
    days on market $169,000 Active 45 DOM
14. 2026-05-31
    days on market $169,000 Active 44 DOM
15. 2026-05-07
    price $169,000 471-char remark

    Show marketing remark (471 chars)

    Cozy + space + opportunity at 298 Nicholson Dr in Potosi, MO! This 3 bed, 2 bath ranch offers 1,242 sq ft, a wood-burning fireplace, 2-car attached garage, and sits on THREE city lots—giving you room to grow and added privacy. With a functional layout and a little TLC, this home is perfect for buyers or investors looking to build equity. Convenient location with a peaceful feel. Homes with this much space and character sell fast - schedule your showing today!

16. 2026-04-17
    listed $170,000 Active 471-char remark

    Show marketing remark (471 chars)

    Cozy + space + opportunity at 298 Nicholson Dr in Potosi, MO! This 3 bed, 2 bath ranch offers 1,242 sq ft, a wood-burning fireplace, 2-car attached garage, and sits on THREE city lots—giving you room to grow and added privacy. With a functional layout and a little TLC, this home is perfect for buyers or investors looking to build equity. Convenient location with a peaceful feel. Homes with this much space and character sell fast - schedule your showing today!

17. 2026-04-03
    historical $170,000 471-char remark

    Show marketing remark (471 chars)

    Cozy + space + opportunity at 298 Nicholson Dr in Potosi, MO! This 3 bed, 2 bath ranch offers 1,242 sq ft, a wood-burning fireplace, 2-car attached garage, and sits on THREE city lots—giving you room to grow and added privacy. With a functional layout and a little TLC, this home is perfect for buyers or investors looking to build equity. Convenient location with a peaceful feel. Homes with this much space and character sell fast - schedule your showing today!

18. 2021-04-20
    status Pending 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

19. 2021-04-09
    soldstatus Closed 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

20. 2020-11-05
    historical Active Under Contract 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

21. 2020-09-21
    status Active 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

22. 2020-09-04
    historical Active Under Contract 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

23. 2020-09-04
    status Active 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

24. 2020-08-14
    historical Active Under Contract 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

25. 2020-08-07
    price $110,900 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

26. 2020-07-14
    listed $119,500 Active 389-char remark

    Show marketing remark (389 chars)

    Don't miss this move in ready 3 bedroom 2 bath home on 3 city lots! This home boasts a large, inviting living room featuring a wood burning fireplace, main floor laundry, and a spacious open floor plan. The master bedroom features a large full bath, and walk in closet. There is plenty of room in the backyard to create your own private backyard oasis to enjoy summer nights on the patio.

ⓘ 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: $978 · $81/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$662/yr (+$55/mo · 67.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,869
• − Mortgage interest: −$9,467
• − Property taxes: −$978
• − Insurance: −$845
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$4,916
• Taxable loss: −$5,396
• Est. tax savings @ 24.0%: +$1,295
• After-tax cash flow: $-996/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: Potosi R-III
• NCES district ID: 2925500
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $34,151
• Composite: 41.22/100
• National rank: #3536
• State rank: #53 of 324 in MO

Livability — Potosi

• Score: 65/100
• State rank: #287
• US rank: #13297

Category grades

Amenities D- Commute F Cost of living A+ Crime F Employment F Housing A Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Potosi, MO
• Population (ZIP): 9,060

Population outlook (Washington County) Hauer SSP2

• Today (2025): 23,761 people
• By 2030: 22,923 · -3.5%
• By 2040: 20,992 · -11.7%
• By 2050: 18,849 · -20.7%
• By 2075: 13,749 · -42.1%
• By 2100: 9,016 · -62.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Italian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+65.2) · D 17.1% · R 82.3%
• 2008→2024 swing: -65.3pp toward R · 2008: 0.1pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+62.6 2016: R+55.2 2012: R+18.6 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 59.56%
• Current HPI: 296.5011
• Rent YoY: —
• Metro: —
• 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

+41.4% since first listed

12 events — show timeline

• 2026-05-07 Price Changed $169,000 MARIS as Distributed by MLS Grid
• 2026-04-17 Listed $170,000 MARIS as Distributed by MLS Grid
• 2026-04-03 Coming Soon $170,000 MARIS as Distributed by MLS Grid
• 2021-04-20 Pending — MARIS as Distributed by MLS Grid
• 2021-04-09 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-11-05 Contingent — MARIS as Distributed by MLS Grid
• 2020-09-21 Relisted — MARIS as Distributed by MLS Grid
• 2020-09-04 Contingent — MARIS as Distributed by MLS Grid
• 2020-09-04 Relisted — MARIS as Distributed by MLS Grid
• 2020-08-14 Contingent — MARIS as Distributed by MLS Grid
• 2020-08-07 Price Changed $110,900 MARIS as Distributed by MLS Grid
• 2020-07-14 Listed $119,500 MARIS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $978 · +12.4% YoY. Source: county tax records.