411 W 4th Ave

La Barge, WY 83123

$145,000D

3 bd · 2.0 ba · 1,025 sqft · Built 1975 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $-19/mo
• Annual: $-233/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• 1% rule: 0.73%
• Cash to close: $40,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $145k.
• At list price, monthly cash flow is $-19 ($-233/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (26.8% below list).
• It's been on market 59 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (26.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#102 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: employment C-, amenities F, commute F.
• Sublette County School District #9 (rural): math 50% / reading 51% proficiency, ranked #22 of 41 in WY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 21 active listings in the ZIP; 220 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 59 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.