1909 E D St. St

Torrington, WY 82201

$137,600D+

2 bd · 1.5 ba · 1,584 sqft · Built 1951 · SingleFamily · Pending · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,056/mo
• Mortgage (P&I): −$722
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $-21/mo
• Annual: $-250/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• 1% rule: 0.77%
• Cash to close: $38,528

Investor read

• This is a 2-bed/1.5-bath single-family listed at $138k.
• At list price, monthly cash flow is $-21 ($-250/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (23.3% below list).
• It's been on market 80 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (23.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#66 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, crime D+.
• Goshen County School District #1 (town): math 45% / reading 57% proficiency, ranked #28 of 41 in WY (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 81 active listings in the ZIP; 3 units permitted in Goshen County in 2024 (0 in 5+ unit buildings).
• Goshen County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $34k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.1% vs local median 3.7% in Torrington — 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.

Questions for listing agent

• 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?
• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1951 — 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.
• 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?
• 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?
• 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.