10 Oriole Ln

Boulder, WY 82923

$78,500C

2 bd · 1.0 ba · 672 sqft · Built 1965 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $846/mo
• Mortgage (P&I): −$412
• Tax + insurance: −$131
• HOA: −$22
• Vac / Maint / Mgmt: −$178
• Net cashflow: $104/mo
• Annual: $1,244/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• 1% rule: 1.08%
• Cash to close: $21,980

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $78k. Condition is rated fair.
• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($846 rent vs $78k).
• It's been on market 37 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($543 loan paydown + $3k appreciation (3.6% local appreciation)).
• Location reads 42/100 on livability (#169 in WY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Sublette County School District #1 (rural): math 59% / reading 64% proficiency, ranked #5 of 41 in WY (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 38 active listings in the ZIP; 97 units permitted in Sublette County in 2024 (0 in 5+ unit buildings).
• Sublette County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Rusty metal siding — Significant rust and wear
• Minor: Overgrown vegetation — Vegetation needs trimming