607 E 4th St · Cheyenne, WY 82007

$225,000

3 bd · 1.0 ba · 919 sqft · SingleFamily public records · 5 Days on market

Built 1947 5,663 sqft lot Est $243k · 7% under

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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 +12.2/30.0
• ARV discount +10.8/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Covered front porch
• Brand new roof
• Covered patio

Tags

• COVERED FRONT PORCH
• COVERED PATIO
• FULLY FENCED YARD
• CURVED ARCHWAY
• ABUNDANCE OF CABINET STORAGE
• BRAND NEW ROOF

Property features AI

Finance

• Financial info: Annual property tax approximately $1,541.05

Exterior

• Home design: Single-family residence (city residential)
• Exterior features: Lot approximately 0.13 acres

Interior

• Bathrooms: 1 full bathroom
• Interior features: Subdivision: SOUTH CHEYENNE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-46 ($-547/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (25.4% below list).
• Recommended offer: $168k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.1% in Cheyenne — 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 83/100 on livability (#2 in WY, #947 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime 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.
• Zoned schools: Poder Academy (math 87% / reading 82%, grade A+, #1 of 151 statewide, top 1%, 194 students, 42% FRL, charter); Johnson Junior High School (math 29% / reading 42%, grade F, #53 of 55 statewide, top 96%, 647 students, 66% FRL); South High School (math 23% / reading 29%, grade F, #62 of 75 statewide, top 82%, 1,187 students, 56% FRL) — zoned schools average 54% FRL vs 32% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 171 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 34% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $170k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,888 (25.4% 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. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D 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. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $242,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 E 4th St	0.20mi	2/2.0 (-1)	966 (+5%)	1mo	$239,999	$248	72
1012 E 8th St	0.42mi	2/1.0 (-1)	922 (+0%)	6mo	$249,999	$271	70
1111 E 7th St	0.39mi	3/1.0	966 (+5%)	15mo	$225,000	$233	61
607 Stanfield Ave	0.67mi	3/1.0	936 (+2%)	9mo	$219,000	$234	58
905 E 6th St	0.24mi	2/2.0 (-1)	987 (+7%)	12mo	$237,000	$240	58
415 E 10th St	0.42mi	2/1.0 (-1)	905 (-2%)	23mo	$225,000	$249	54
716 Russell Ave	0.31mi	2/1.0 (-1)	835 (-9%)	17mo	$129,000	$154	51
317 E 10th St	0.44mi	2/1.0 (-1)	850 (-8%)	14mo	$250,000	$294	50
223 W 7th St	0.51mi	3/2.0	960 (+4%)	19mo	$255,000	$266	49
215 E 10th St	0.47mi	2/1.0 (-1)	840 (-9%)	20mo	$275,000	$327	42
703 E 10th St	0.42mi	2/1.0 (-1)	1,056 (+15%)	14mo	$279,000	$264	39
1208 E 6th St	0.43mi	2/1.0 (-1)	799 (-13%)	18mo	$229,000	$287	38

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: -15.7%
• Equity multiple: 0.43×
• Total profit: $-35,864
• Equity at exit: $33,548

10-year hold

• IRR: -4.5%
• Equity multiple: 0.68×
• Total profit: $-19,966
• Equity at exit: $19,454

Cash invested: $63,000 (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: 171
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,679 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-46

Break-even live

Break-even rent $1,737

Max offer price $216,946

Occupancy floor 98%

Sensitivity live

Price	-10% $82	-5% $18	+0% $-46	+5% $-109	+10% $-173
Rent	-10% $-178	-5% $-112	+0% $-46	+5% $21	+10% $87
Rate	-1.0pp $68	-0.5pp $12	base $-46	+0.5pp $-104	+1.0pp $-163

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Walterscheid Blvd Cheyenne, WY	1.0–2.0	1.0–2.0	818	$1,625	$1.99	15d	4	0.83mi

Listing history 9 events

1. 2026-06-03
   status $225,000 Pending 5 DOM
2. 2026-06-02
   days on market $225,000 Active 5 DOM
3. 2026-06-01
   days on market $225,000 Active 4 DOM
4. 2026-05-31
   days on market $225,000 Active 3 DOM
5. 2026-05-30
   days on market $225,000 Active 2 DOM
6. 2026-05-28
   listed $225,000 Active
7. 2026-05-06
   soldstatus $170,000
8. 2007-03-01
   soldstatus
9. 2002-06-04
   soldstatus

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

Tax reassessment forecast WY · Resets to sale price

• Current annual tax: $1,179 · $98/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$194/yr (+$16/mo · 16.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 16 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: $20,147
• − Mortgage interest: −$12,603
• − Property taxes: −$1,179
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$6,545
• Taxable loss: −$4,530
• Est. tax savings @ 24.0%: +$1,087
• After-tax cash flow: $540/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 — Cheyenne

• Score: 83/100
• State rank: #2
• US rank: #947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheyenne, WY
• County: Laramie County · 94,953 people
• City population: 94,953
• 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

+32.4% since first listed

4 events — show timeline

• 2026-05-28 Listed $225,000 CBR
• 2026-05-06 Sold (Public Records) $170,000 Public Records
• 2007-03-01 Sold (Public Records) — Public Records
• 2002-06-04 Sold (Public Records) — Public Records

Property tax history

+10.4%/yr

Latest (2025): $1,179 · -23.5% YoY. Source: county tax records.