719 Artesian Rd #41

Fox Farm-College, WY 82007

$37,000B

2 bd · 1.5 ba · 1,104 sqft · Built 1974 · Manufactured · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,461/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $898/mo
• Annual: $10,778/yr
• Cap rate: 35.42%
• Cash-on-cash: 104.04%
• DSCR: 5.63
• 1% rule: 3.95%
• Cash to close: $10,360

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $37k. Condition is rated good.
• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $37k).
• It's been on market 90 days — a 6% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $256 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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); 165 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).
• 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.