Southwest Missouri Realty

  |  
Springfield Office - (417) 582-2200

Call  
  • Register
  • Login
Southwest Missouri Realty
  • Home
  • Open Houses
  • JOIN SWMRealty
  • Search
    • Featured Properties
    • By City
    • By Subdivision
    • By Area
    • By MLS# / Address
    • By Map
    • By School
    • By Zipcode
  • Buyers
    • Buyer Resources
  • Sellers
    • Seller Resources
  • Communities
    • Battlefield
    • Branson
    • Clever
    • Fair Grove
    • Highlandville
    • Nixa
    • Ozark
    • Republic
    • Rogersville
    • Sparta
    • Spokane
    • Springfield
    • Strafford
    • Willard
  • Agents
    • Company Roster
  • Blog
  • Contact

Turning Real Estate into Income Property

  • ← Advantages of Purchasing Acreage for Sale in Southwest Missouri
  • Southwest Missouri Realty: 3 Mistakes People Make When Selling a Home →
Posted By YourFriends AtSWMR @ Feb 26th 2016 11:00am In: Southwest Missouri Realty

Springfield, MO is the perfect place to invest in real estate for income properties and rental suites.

Springfield, MO boasts a very low cost of living. This is also reflected in real estate prices.  Luckily, for students and young families just starting out in the area, there are plenty of cost-effective rental properties in the area. However, Springfield, MO real estate is also relatively inexpensive to purchase straight out. While some of the inexpensive homes may be in need of a little TLC, the prices in the current market are low enough to purchase a home that can be remodeled into income property – or even to purchase two homes and rent one out.

Second home

If you own Springfield, MO real estate or even a home relatively far from Springfield, it may benefit you financially to purchase an inexpensive house in Springfield, MO to use as income property. The Springfield, MO real estate market is very diverse as far as property goes. Everything from 1920’s homes and modern ranches to fully renovated victorian style homes and bungalows are available in the Springfield market. There are plenty of individuals looking for rentals in the area and you’ll often find that there is very little to do to a home before it becomes rentable. Many rental homes in the area don’t even come with kitchen appliances. If you plan to provide kitchen appliances, you’ll want to consider this added expense when you set your rent rate. Many renters will be happy to pay a bit more for a refrigerator and a stove.

Creating an Income Suite

Some of the older homes for sale in Springfield, MO are in need of some TLC before they can be put up for rent. While remodeling, you may find that there is room in both your budget and your home for a rental suite. Some homeowners choose to convert walk-out basements, while others will convert an entire upper level of a home into a stand-alone apartment with its own entrance via outdoor stairway. A realtor in Springfield, MO from Southwest Missouri Realty will be able to help you to find the piece of real estate to which you can add a rental suite. Adding an income suite to your new home will allow you to spend more on both the home and the renovations, meaning you can create your ideal rental home without breaking the bank.

Booming Real Estate Rental Market

Because Springfield, MO is home to multiple colleges and universities, and because the city itself continues to grow, the Springfield real estate market also continues to expand. Springfield is one of the few college towns in which it can be cheaper to rent a house rather than an apartment in an apartment complex. New apartment complexes are popping up every day, but new dorm-like apartments are often expensive and require students to share their space with up to 3 or 4 other residents who are sometimes strangers. Finding potential income properties within close proximity to one of the many campuses in Springfield is therefore a great way to ensure that your new real estate rental property will be in high demand.

Springfield, MO real estate prices are extremely low compared to prices in larger cities in Missouri and the college town atmosphere also means that your rental property will be in high demand. Whether you’re looking to add a rental suite to a home or you’re searching for a separate rental property altogether, Springfield, MO is one of the best places to look. Southwest Missouri Realty can help you to find the perfect real estate to turn into a rental.


Print This Post Email This Post
Share on Social Media:

Comments (0)

Comments have been closed for this post.
Please contact us if you have any questions or comments.
  • ← Advantages of Purchasing Acreage for Sale in Southwest Missouri
  • Southwest Missouri Realty: 3 Mistakes People Make When Selling a Home →

Search Properties

Search Advanced Search

Featured Listings

MLS# 60234260
$1,200,000Ozark MO
Beds: N/A
Baths: N/A
MLS# 60230571
$849,000Nixa MO
Beds: 4
Baths: 3 Full
MLS# 60230631
$699,900Ozark MO
Beds: 5
Baths: 3 Full

Our Dream Began

Blog

Latest Posts

Februray Full Disclosure
Tue, Feb 1st 2022 1:22 pm

Mortgage Rates in 2022
Thu, Nov 4th 2021 9:42 am

Housing Inventory this Fall
Thu, Oct 28th 2021 10:36 am

How to Lower your Utility Bill this Winter 2021
Thu, Oct 14th 2021 8:15 am

What Do Supply and Demand Tell Us About Today’s Housing Market?
Thu, Oct 7th 2021 10:11 am

Categories

  • All Categories (200)
  • Southwest Missouri Realty (197)
  • Springfield Missouri Real Estate (3)

Archives

  • March 2022 (1)
  • November 2021 (1)
  • October 2021 (3)
  • September 2021 (2)
  • August 2021 (2)
  • July 2021 (3)
  • June 2021 (3)
  • May 2021 (2)
  • April 2021 (2)
  • March 2021 (2)
  • January 2021 (4)
  • December 2020 (2)
  • November 2020 (2)
  • October 2020 (2)
  • July 2020 (3)
  • June 2020 (5)
  • May 2020 (4)
  • April 2020 (3)
  • March 2020 (3)
  • March 2020 (3)
  • January 2020 (4)
  • December 2019 (1)
  • November 2019 (3)
  • October 2019 (1)
  • September 2019 (1)
  • August 2019 (5)
  • July 2019 (3)
  • June 2019 (4)
  • May 2019 (6)
  • April 2019 (6)
  • March 2019 (3)
  • March 2019 (3)
  • January 2019 (3)
  • December 2018 (1)
  • November 2018 (1)
  • October 2018 (2)
  • August 2018 (1)
  • July 2018 (1)
  • June 2018 (1)
  • May 2018 (1)
  • April 2018 (2)
  • March 2018 (1)
  • March 2018 (1)
  • December 2017 (3)
  • November 2017 (3)
  • October 2017 (1)
  • September 2017 (1)
  • August 2017 (3)
  • July 2017 (2)
  • June 2017 (4)
  • May 2017 (3)
  • April 2017 (5)
  • March 2017 (4)
  • March 2017 (4)
  • January 2017 (4)
  • December 2016 (4)
  • November 2016 (2)
  • October 2016 (7)
  • September 2016 (8)
  • August 2016 (8)
  • June 2016 (2)
  • May 2016 (4)
  • April 2016 (4)
  • March 2016 (4)
  • March 2016 (4)
  • January 2016 (4)
  • September 2015 (2)
  • June 2015 (1)
  • March 2015 (2)
Southwest Missouri Realty

Springfield Office:
3300 S. National Suite 300
Springfield, MO 65807
Licensed in Missouri 2013
(417) 582-2200

info@swmrealty.com

Follow
  • Facebook
  • Twitter
  • Google+
  • Pinterest
Useful Links
  • Relocating to Springfield
  • City of Springfield
  • Area Schools Information
  • Branson Area Info
Search By

© 2023 Southwest Missouri Realty  |  Terms of Service  |  Privacy Policy  |  Sitemap
Powered by Dynamic IDX, LLC. Real Estate Website Solutions
Website Designed by Tiny Minute

MLS Realtor Logos