1823 W Olive St · Springfield, MO 65802

$98,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 88 Days on market

Built 1947 8,712 sqft lot $109/sqft · 23% below area Est $127k · 23% under ↓ 4% since listing

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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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.4/10.0
• 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 MLS

PRICE IMPROVEMENT on this Charming move-in ready cottage offering 2 bedrooms and 1 bathroom in a convenient location close to everything! This well-maintained home features updated flooring in the kitchen, adding a fresh and modern touch. A new mini-split system provides efficient heating and cooling for year-round comfort. Enjoy peace of mind with a brand new roof just installed. Perfect for a first-time homebuyer, downsizer, or investment opportunity--this home is full of value and ready for its next owner! Bonus room has a seperate entrance. There is also a gas stove hook up in the kitchen. Motivated seller. Buyers and Buyers agents do your own research on square footage and schools.

Key facts

• Brand new roof
• Updated flooring
• 8,712 sq ft lot

Tags

• MOVE-IN READY COTTAGE
• UPDATED FLOORING
• NEW MINI-SPLIT SYSTEM
• BRAND NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Westport Elem. (math 8% / reading 17%, grade F, #1,007 of 1,115 statewide, top 91%, 384 students, 88% FRL); Westport Middle School (math 12% / reading 29%, grade F, #344 of 391 statewide, top 88%, 433 students, 87% FRL) — zoned schools average 87% FRL vs 46% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 39% district-wide (-23 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 (+4.8%/yr); 520 active listings in the ZIP; 40 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 $678 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $14k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.04% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

• ARV (median comp): $127,263
• List price: $98,000
• Delta: -22.99%
• 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
521 N Park Ave	0.37mi	3/1.0 (+1)	910 (+2%)	1mo	$85,000	$93	74
2200 W Phelps St	0.33mi	3/1.0 (+1)	936 (+4%)	0mo	$135,900	$145	72
659 N Lafontaine Ave	0.40mi	3/1.0 (+1)	876 (-2%)	2mo	$164,900	$188	72
541 S Warren Ave	0.49mi	2/1.5	903 (+1%)	3mo	$155,000	$172	71
827 N Marion Ave	0.56mi	2/1.0	871 (-3%)	3mo	$115,000	$132	67
717 N West Ave	0.66mi	2/1.0	909 (+2%)	1mo	$125,000	$138	66
2223 W Elm St	0.39mi	2/1.0	993 (+11%)	1mo	$115,000	$116	63
2041 W Elm St	0.28mi	2/1.0	1,028 (+15%)	2mo	$125,000	$122	60
2326 W Nichols St	0.73mi	2/1.0	945 (+6%)	1mo	$150,000	$159	56
2137 W Brower St	0.54mi	3/1.0 (+1)	960 (+7%)	3mo	$129,900	$135	55
918 N Nettleton Ave	0.68mi	2/1.0	971 (+8%)	1mo	$105,000	$108	54
810 N West Ave	0.72mi	2/1.0	768 (-14%)	3mo	$119,000	$155	40

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-780
• Equity at exit: $14,612

10-year hold

• IRR: 10.6%
• Equity multiple: 1.89×
• Total profit: $24,288
• Equity at exit: $8,473

Cash invested: $27,440 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,015 high
• Mortgage (P&I): −$514
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $208

Break-even live

Break-even rent $752

Max offer price $98,000

Occupancy floor 75%

Sensitivity live

Price	-10% $263	-5% $236	+0% $208	+5% $180	+10% $152
Rent	-10% $128	-5% $168	+0% $208	+5% $248	+10% $288
Rate	-1.0pp $257	-0.5pp $233	base $208	+0.5pp $183	+1.0pp $157

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1740 W Olive St Springfield, MO	3.0	1.0	736	$1,195	$1.62	15d	1	0.09mi
1911 W Elm St Springfield, MO	2.0	1.0	580	$875	$1.51	45d	1	0.23mi
522 N Park Ave Springfield, MO	1.0	1.0	608	$950	$1.56	45d	1	0.35mi
1200 W Walnut St Springfield, MO	2.0	2.0	1000	$995	$0.99	15d	3	0.61mi
2541 W Lincoln St Springfield, MO	2.0	1.0	1034	$975	$0.94	45d	1	0.65mi
916 N Kansas Expy Springfield, MO	1.0	1.0	573	$595	$1.04	45d	1	0.65mi
740 N West Ave Springfield, MO	3.0	1.0	900	$995	$1.11	25d	1	0.66mi
627 S Fort Ave Springfield, MO	2.0	1.0	880	$895	$1.02	25d	1	0.67mi
741 N West Ave Springfield, MO	2.0	1.0	912	$950	$1.04	45d	1	0.68mi
2204 W Madison St Springfield, MO	3.0	1.0	960	$1,095	$1.14	15d	1	0.73mi
2711 W Olive St Springfield, MO	1.0	1.0	621	$750	$1.21	25d	1	0.78mi
520 S Scenic Ave Unit 101-A Springfield, MO	1.0	1.0	550	$650	$1.18	45d	1	0.78mi
513 S Broadway Ave Springfield, MO	2.0	1.0	800	$855	$1.07	45d	1	0.80mi
930 W Harrison St Springfield, MO	3.0	2.0	1046	$1,150	$1.10	15d	1	0.90mi
1036 W Monroe Ter Springfield, MO	2.0	1.0	812	$795	$0.98	25d	1	0.90mi
1406 W Calhoun St Unit B Springfield, MO	2.0	1.0	885	$865	$0.98	25d	1	0.94mi
733 W College St Springfield, MO	1.0	1.0	700	$750	$1.07	15d	1	0.94mi
865 S Douglas Ave Springfield, MO	2.0	2.0	850	$895	$1.05	15d	4	0.95mi
2712 W Nichols St Springfield, MO	2.0	1.0	619	$795	$1.28	45d	1	0.98mi
813 W Poplar St Unit 813 Springfield, MO	2.0	1.0	560	$795	$1.42	15d	1	1.00mi
2854 W Walnut St Springfield, MO	3.0	1.0	945	$995	$1.05	22d	1	1.01mi
1126 W Hamilton St Springfield, MO	2.0	1.0	648	$895	$1.38	25d	1	1.07mi
1020 S Clifton Ave Springfield, MO	2.0	2.0	1010	$950	$0.94	25d	1	1.10mi
815 N Grant Ave Unit A Springfield, MO	2.0	1.0	801	$625	$0.78	45d	1	1.11mi
535 W Walnut St Springfield, MO	2.0	2.0	1096	$1,495	$1.36	45d	1	1.13mi
922 N Glenn Ave Springfield, MO	2.0	1.0	780	$1,100	$1.41	45d	1	1.14mi
1040 S Clifton Ave Springfield, MO	2.0	2.0	1010	$945	$0.94	15d	1	1.15mi
647 W Central St Springfield, MO	3.0	1.0	882	$1,050	$1.19	25d	1	1.17mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	25d	5	1.18mi
235 N Market Ave Springfield, MO	1.0–4.0	1.0–2.0	1350	$1,267	$0.94	15d	4	1.18mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	22d	5	1.18mi
211 S Market Ave Springfield, MO	2.0–4.0	1.0–2.0	1442	$1,425	$0.99	25d	5	1.18mi
3028 W Walnut St Springfield, MO	2.0	1.0	975	$850	$0.87	22d	1	1.20mi
847 S Grant Ave Springfield, MO	2.0	1.0	1080	$815	$0.75	45d	1	1.23mi
305 S Campbell Ave Unit 208 Springfield, MO	1.0	1.0	649	$975	$1.50	15d	1	1.24mi
430 W Pershing St Springfield, MO	2.0	2.0	765	$1,195	$1.56	15d	1	1.27mi
138 Park Central Sq Springfield, MO	1.0–2.0	1.0–2.0	1083	$2,489	$2.30	15d	8	1.33mi
1735 W Bennett St Springfield, MO	1.0	1.0	800	$1,124	$1.41	15d	2	1.33mi
209 W McDaniel St Unit 209-207 Springfield, MO	1.0	1.0	700	$950	$1.36	45d	1	1.35mi
810 W Catalpa St Apt 316 Springfield, MO	1.0	1.0	581	$551	$0.95	25d	1	1.39mi

Listing history 27 events

1. 2026-06-22
   days on market $98,000 Active 88 DOM
2. 2026-06-18
   days on market $98,000 Active 85 DOM
3. 2026-06-17
   days on market $98,000 Active 84 DOM
4. 2026-06-16
   days on market $98,000 Active 83 DOM
5. 2026-06-15
   pricedays on market $98,000 Active 82 DOM
6. 2026-06-14
   days on market $106,000 Active 80 DOM
7. 2026-06-10
   days on market $106,000 Active 77 DOM
8. 2026-06-09
   days on market $106,000 Active 76 DOM
9. 2026-06-08
   days on market $106,000 Active 75 DOM
10. 2026-06-07
    days on market $106,000 Active 74 DOM
11. 2026-06-03
    days on market $106,000 Active 70 DOM
12. 2026-06-02
    days on market $106,000 Active 69 DOM
13. 2026-06-01
    days on market $106,000 Active 68 DOM
14. 2026-05-31
    days on market $106,000 Active 67 DOM
15. 2026-05-30
    remarks 699-char remark
16. 2026-05-30
    days on market $106,000 Active 66 DOM
17. 2026-05-08
    price $106,000 695-char remark

    Show marketing remark (695 chars)

    PRICE IMPROVEMENT on this Charming move-in ready cottage offering 2 bedrooms and 1 bathroom in a convenient location close to everything! This well-maintained home features updated flooring in the kitchen, adding a fresh and modern touch. A new mini-split system provides efficient heating and cooling for year-round comfort. Enjoy peace of mind with a brand new roof just installed. Perfect for a first-time homebuyer, downsizer, or investment opportunity--this home is full of value and ready for its next owner! Bonus room has a seperate entrance. There is also a gas stove hook up in the kitchen. Motivated seller. Buyers and Buyers agents do your own research on square footage and schools.

18. 2026-03-25
    listed $112,000 Active 695-char remark

    Show marketing remark (695 chars)

    PRICE IMPROVEMENT on this Charming move-in ready cottage offering 2 bedrooms and 1 bathroom in a convenient location close to everything! This well-maintained home features updated flooring in the kitchen, adding a fresh and modern touch. A new mini-split system provides efficient heating and cooling for year-round comfort. Enjoy peace of mind with a brand new roof just installed. Perfect for a first-time homebuyer, downsizer, or investment opportunity--this home is full of value and ready for its next owner! Bonus room has a seperate entrance. There is also a gas stove hook up in the kitchen. Motivated seller. Buyers and Buyers agents do your own research on square footage and schools.

19. 2025-11-25
    status Active
20. 2025-11-08
    status Pending
21. 2025-10-14
    status Active
22. 2025-10-10
    price $87,000
23. 2025-08-01
    price $89,900
24. 2025-07-16
    listed $91,500 Active
25. 2025-06-20
    price $98,900
26. 2025-06-06
    price $104,000
27. 2025-05-23
    listed $110,000 Active

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $951 · $79/mo
• Expected delta: +$481/yr (+$40/mo · 102.6%)

ⓘ 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: $12,179
• − Mortgage interest: −$5,490
• − Property taxes: −$469
• − Insurance: −$490
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$2,851
• Taxable income: $931
• Est. tax owed @ 24.0%: −$223
• After-tax cash flow: $2,272/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

-3.6% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $106,000 SOMO
• 2026-03-25 Listed $112,000 SOMO
• 2025-11-25 Relisted — SOMO
• 2025-11-08 Pending — SOMO
• 2025-10-14 Relisted — SOMO
• 2025-10-10 Price Changed $87,000 SOMO
• 2025-08-01 Price Changed $89,900 SOMO
• 2025-07-16 Listed $91,500 SOMO
• 2025-06-20 Price Changed $98,900 SOMO
• 2025-06-06 Price Changed $104,000 SOMO
• 2025-05-23 Listed $110,000 SOMO

Property tax history

+2.3%/yr

Latest (2025): $469 · +25.1% YoY. Source: county tax records.