3400 S Greeley Hwy Unit 104A · South Greeley, WY 82007

$66,000

3 bd · 2.0 ba · 990 sqft · Manufactured · 155 Days on market

Built 2021 Est $66k · at est. ↓ 3% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Walk-in closet
• Primary suite
• Open layout

Tags

• OPEN LAYOUT
• BRIGHT NATURAL LIGHT
• LARGE KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIMARY SUITE
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $66k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• Recommended offer: $58k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#26 in WY) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment D-.
• Laramie County School District #1 (urban): math 41% / reading 48% proficiency, ranked #33 of 41 in WY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 485 units permitted in Laramie County in 2024 (104 in 5+ unit buildings).
• This rent runs 36% of the median local income ($59k/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 $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Laramie County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.66% ✓
• Cap rate: 23.21%
• Cash-on-cash: 60.42%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $66,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3008 Terry Rd #1	0.33mi	3/1.0	960 (-3%)	2mo	$65,000	$68	74
720 Dallas Rd	0.39mi	3/2.0	940 (-5%)	1mo	$16,000	$17	72
702 Dallas Rd	0.38mi	3/1.0	938 (-5%)	2mo	$55,000	$59	68
220 Pleasant Vly	0.55mi	2/1.0 (-1)	980 (-1%)	1mo	$48,900	$50	63
318 South Fork Rd	0.34mi	3/2.0	1,064 (+8%)	11mo	$215,000	$202	62
507 Dallas Rd	0.41mi	2/2.0 (-1)	924 (-7%)	4mo	$45,000	$49	61
407 South Fork Rd	0.36mi	3/2.0	1,080 (+9%)	10mo	$229,000	$212	60
3008 Terry Rd #43	0.33mi	2/1.0 (-1)	910 (-8%)	4mo	$45,000	$49	59
4322 Middle Fork Trl	0.68mi	3/2.0	1,035 (+4%)	9mo	$65,000	$63	54
222 Little Valley Trl	0.60mi	2/1.0 (-1)	938 (-5%)	1mo	$62,500	$67	54
205 Factor Ln	0.60mi	3/2.0	924 (-7%)	11mo	$235,000	$254	52
2407 Steve Ave	0.64mi	2/1.0 (-1)	863 (-13%)	11mo	$205,000	$238	30

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 · 5.08% rent growth · sell at horizon

5-year hold

• IRR: 61.5%
• Equity multiple: 3.83×
• Total profit: $52,339
• Equity at exit: $9,841

10-year hold

• IRR: 66.8%
• Equity multiple: 8.47×
• Total profit: $138,042
• Equity at exit: $5,706

Cash invested: $18,480 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Wyoming: 90 Strongly Landlord-Friendly · R+25
• County: — inherits STATE
• City: — inherits STATE

3-day notice; strongly landlord-favorable; small market.

Methodology + full state rankings →

ZIP-level market 82007

• Home prices YoY: -25.9%
• Rents YoY: 5.1%
• Active inventory: 166
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$346
• Tax est. 1.5%: −$82 /mo · $990/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $930

Break-even live

Break-even rent $577

Max offer price $66,000

Occupancy floor 42%

Sensitivity live

Price	-10% $976	-5% $953	+0% $930	+5% $908	+10% $885
Rent	-10% $792	-5% $861	+0% $930	+5% $1,000	+10% $1,069
Rate	-1.0pp $964	-0.5pp $947	base $930	+0.5pp $913	+1.0pp $896

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Williams St Cheyenne, WY	2.0–3.0	1.0–2.0	1028	$1,899	$1.85	15d	1	0.48mi

Listing history 3 events

1. 2026-04-23
   status Pending
2. 2026-04-06
   price $66,000
3. 2025-11-19
   listed $68,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 2/10 Low 6 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,061
• − Mortgage interest: −$3,697
• − Property taxes: −$990
• − Insurance: −$330
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$1,920
• Taxable income: $10,754
• Est. tax owed @ 24.0%: −$2,581
• After-tax cash flow: $8,584/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: Laramie County School District #1
• NCES district ID: 5601980
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $56,842
• Composite: 38.86/100
• National rank: #4103
• State rank: #33 of 41 in WY

Livability — South Greeley

• Score: 71/100
• State rank: #26
• US rank: #6824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Greeley, WY
• County: Laramie County · 94,953 people
• Metro: Cheyenne, WY
• Population (ZIP): 21,704
• Household income: $58,745
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 854.0

Population outlook (Laramie County) Hauer SSP2

• Today (2025): 109,698 people
• By 2030: 115,710 · +5.5%
• By 2040: 127,191 · +15.9%
• By 2050: 138,476 · +26.2%
• By 2075: 168,653 · +53.7%
• By 2100: 188,739 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 27% Two or more races 12% Native American 4% Black 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Lithuanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 10%

Political lean MEDSL · Laramie

• 2024 margin: Solid R (+32.4) · D 33.0% · R 65.4% · Other 1.6%
• 2008→2024 swing: -12.1pp toward R · 2008: -20.4pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.2 2016: R+33.2 2012: R+24.8 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.05%
• Current HPI: 257.0616
• Rent YoY: ▲ 5.08%
• Metro: Cheyenne, WY
• State GDP YoY: —
• F500 in state: 0

Price history

-2.9% since first listed

3 events — show timeline

• 2026-04-23 Pending — CBR
• 2026-04-06 Price Changed $66,000 CBR
• 2025-11-19 Listed $68,000 CBR