353 Virginia Cir

Green River, WY 82935

$180,000D

3 bd · 2.0 ba · 1,940 sqft · Built 1904 · SingleFamily · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,248/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $-122/mo
• Annual: $-1,461/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• 1% rule: 0.69%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (30.7% below list).
• It's been on market 105 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (30.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#19 in WY, #4,785 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Sweetwater County School District #2 (town): math 62% / reading 61% proficiency, ranked #6 of 41 in WY (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Middle School (math 59% / reading 58%, grade B, #21 of 55 statewide, top 39%, 557 students, 27% FRL).
• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 75 active listings in the ZIP; 47 units permitted in Sweetwater County in 2024 (0 in 5+ unit buildings).
• Sweetwater County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 2.9% in Green River — 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 105 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1904 — 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.
• Schools are A-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?
• 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.