1017 W Madison St · Springfield, MO 65806

$125,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 4 Days on market

Built 1922 4,356 sqft lot Est $129k · 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 +8.6/15.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +3.2/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this very nice totally updated home on a cute street that shows lots of pride of ownership. Everything is new in this house - New High Efficiency HVAC, Hot Water Heater, Vinyl Windows, Roof, Shaker Kitchen Cabinets, New appliances, and even new insulation in this home. Original floors are beautiful and in excellent condition as is the original trim. Home features a 1 car detached garage and workshop that is in good condition and an outdoor deck in the back yard. Very nice opportunity in excellent condition.

Key facts

• Vinyl windows
• Updated water heater
• Detached garage

Tags

• HIGH EFFICIENCY HVAC SYSTEM
• UPDATED WATER HEATER
• VINYL WINDOWS
• SHAKER STYLE KITCHEN CABINETS
• ORIGINAL HARDWOOD FLOORS
• DETACHED GARAGE

Property features AI

Finance

• Other: Located in the Rathbun's subdivision

Exterior

• Parking: Detached or attached garage with 1-car capacity
• Utilities: Public water service; Public sewer service; Natural gas available
• Home design: Single-family residence; One story
• Construction: Built in recent decades
• Exterior features: Public water; Public sewer; Lot approximately 0.1 acre

Interior

• Kitchen: Includes standard appliances
• Bedrooms: Bedrooms located on main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer/dryer connections

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $22 ($269/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 $97k (22.7% below list).
• Recommended offer: $97k (22.7% 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: Mcgregor Elem. (math 12% / reading 17%, grade F, #993 of 1,115 statewide, top 90%, 271 students, 90% FRL); Parkview High (math 11% / reading 40%, grade F, #433 of 521 statewide, top 83%, 1,234 students, 62% FRL) — zoned schools average 76% FRL vs 46% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 39% district-wide (-19 pts) — the specific schools serving this property underperform the Springfield R-XII average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.2%/yr); 86 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).
• This rent runs 41% of the median local income ($28k/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 $870 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 1922 — 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 $97,301 (22.7% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.77% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $128,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735 S Missouri Ave	0.12mi	2/1.0	904 (+11%)	0mo	$140,000	$155	76
942 S Nettleton Ave	0.42mi	2/2.0	816 (0%)	0mo	$122,900	$151	76
1068 S Broadway Ave	0.40mi	2/1.0	821 (+1%)	7mo	$139,900	$170	75
1012 S Fort Ave	0.35mi	2/1.0	768 (-6%)	1mo	$105,000	$137	73
1530 W Lombard St	0.46mi	2/1.0	840 (+3%)	1mo	$145,000	$173	72
1310 W State St	0.26mi	2/1.0	728 (-11%)	3mo	$114,900	$158	67
1055 S New Ave	0.39mi	2/1.0	724 (-11%)	5mo	$149,900	$207	59
942 S Market Ave	0.49mi	2/1.0	884 (+8%)	6mo	$139,000	$157	58
1121 S Fort Ave	0.53mi	2/1.0	741 (-9%)	4mo	$67,000	$90	57
1352 S Fort Ave	0.74mi	3/1.0 (+1)	824 (+1%)	6mo	$110,000	$133	54
1259 S Ferguson Ave	0.66mi	1/1.0 (-1)	864 (+6%)	4mo	$140,000	$162	51
1139 S Fort Ave	0.54mi	3/1.0 (+1)	890 (+9%)	5mo	$218,000	$245	51

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 · 4.17% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-17,875
• Equity at exit: $18,772

10-year hold

• IRR: -3.7%
• Equity multiple: 0.74×
• Total profit: $-9,104
• Equity at exit: $10,886

Cash invested: $35,252 (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 65806

• Home prices YoY: -11.7%
• Rents YoY: 4.2%
• Active inventory: 86
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $973 high
• Mortgage (P&I): −$660
• Tax from tax record: −$34 /mo · $403/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $22

Break-even live

Break-even rent $945

Max offer price $125,900

Occupancy floor 93%

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	23d	1	0.05mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	13d	1	0.16mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	23d	1	0.28mi
847 S Grant Ave Springfield, MO	2.0	1.0	1080	$815	$0.75	43d	1	0.29mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	43d	1	0.30mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	13d	3	0.42mi
865 S Douglas Ave Springfield, MO	2.0	2.0	850	$895	$1.05	13d	4	0.42mi
505 W Grand St Springfield, MO	1.0–2.0	1.0–2.0	996	$1,395	$1.40	13d	1	0.46mi
1044 S Main Ave Springfield, MO	2.0	1.0	1089	$1,050	$0.96	43d	1	0.51mi
433 W Grand St Unit C Springfield, MO	2.0	1.0	1023	$1,295	$1.27	43d	1	0.52mi
810 W Catalpa St Apt 302 Springfield, MO	2.0	1.0	806	$664	$0.82	23d	1	0.54mi
810 W Catalpa St Apt 316 Springfield, MO	1.0	1.0	581	$551	$0.95	23d	1	0.54mi
1112 S Grant Ave Springfield, MO	1.0	1.0	800	$1,095	$1.37	43d	1	0.54mi
733 W College St Springfield, MO	1.0	1.0	700	$750	$1.07	13d	1	0.57mi
301 W State St Unit D Springfield, MO	1.0	1.0	570	$875	$1.54	23d	1	0.59mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	43d	1	0.61mi
741 South Ave Unit 5 Springfield, MO	1.0	1.0	950	$750	$0.79	43d	1	0.61mi
755 South Ave Unit 2 Springfield, MO	1.0	1.0	600	$850	$1.42	23d	1	0.62mi
901 South Ave Springfield, MO	2.0–3.0	1.0–2.0	695	$825	$1.19	43d	1	0.64mi
430 W Pershing St Springfield, MO	2.0	2.0	765	$1,195	$1.56	13d	1	0.66mi
806 South Ave Springfield, MO	1.0	1.0	670	$1,085	$1.62	13d	3	0.66mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	21d	5	0.68mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	23d	5	0.68mi
305 S Campbell Ave Unit 208 Springfield, MO	1.0	1.0	649	$975	$1.50	13d	1	0.71mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	23d	5	0.75mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	13d	4	0.75mi
209 W McDaniel St Unit 209-207 Springfield, MO	1.0	1.0	700	$950	$1.36	43d	1	0.80mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	43d	1	0.84mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	13d	8	0.84mi
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	13d	1	0.87mi
309 S Jefferson Ave Unit 211 Springfield, MO	2.0	2.0	762	$767	$1.01	43d	1	0.89mi
533 Bear Blvd Unit 111 Springfield, MO	1.0	1.0	1100	$649	$0.59	43d	1	0.91mi
511 E Cherry St Unit 2 Springfield, MO	1.0	1.0	700	$850	$1.21	43d	1	0.92mi
1735 W Bennett St Springfield, MO	1.0	1.0	800	$1,124	$1.41	13d	2	0.97mi
627 Bear Blvd Springfield, MO	2.0	2.0	943	$1,400	$1.48	43d	2	1.00mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	13d	1	1.02mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	13d	1	1.04mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	43d	1	1.13mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	23d	1	1.19mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	43d	1	1.27mi

Listing history 6 events

1. 2026-06-17
   status $125,900 Pending 4 DOM
2. 2026-06-17
   days on market $125,900 Active 4 DOM
3. 2026-06-16
   days on market $125,900 Active 3 DOM
4. 2026-06-15
   days on market $125,900 Active 2 DOM
5. 2026-06-14
   remarks 571-char remark
6. 2026-06-14
   listed $125,900 Active 1 DOM

ⓘ 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: $403 · $34/mo
• Projected year-2 tax: $1,221 · $102/mo
• Expected delta: +$819/yr (+$68/mo · 203.4%)

ⓘ 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: $11,676
• − Mortgage interest: −$7,052
• − Property taxes: −$403
• − Insurance: −$630
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$3,663
• Taxable loss: −$1,939
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $735/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): 13,692
• Household income: $28,165
• Rent vs Own: 87.3% rent · 12.7% own
• Severe rent burden: 1966.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 8% Hispanic / Latino 7% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -27.72%
• Current HPI: 208.8156
• Rent YoY: ▲ 4.17%
• 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

+85.4% since first listed

7 events — show timeline

• 2026-06-13 Listed $125,900 SOMO
• 2019-11-29 Sold (MLS) — SOMO
• 2019-11-18 Sold (Public Records) — Public Records
• 2019-09-24 Listed $67,900 SOMO
• 2019-02-05 Sold (Public Records) — Public Records
• 2013-07-29 Sold (Public Records) — Public Records
• 2012-01-26 Sold (Public Records) — Public Records

Property tax history

+3.2%/yr

Latest (2025): $403 · +23.4% YoY. Source: county tax records.