3340 W Cody Ln #105

Teton Village, WY 83025

$39,500A

2 bd · 2.0 ba · 1,400 sqft · Built 2001 · SingleFamily · Active · 222 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,246/mo
• Mortgage (P&I): −$207
• Tax + insurance: −$66
• HOA: −$327
• Vac / Maint / Mgmt: −$262
• Net cashflow: $384/mo
• Annual: $4,611/yr
• Cap rate: 17.97%
• Cash-on-cash: 41.69%
• DSCR: 2.86
• 1% rule: 3.15%
• Cash to close: $11,060

Investor read

• This is a 2-bed/2.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 222 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($273 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#114 in WY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Teton County School District #1 (town): math 50% / reading 61% proficiency, ranked #14 of 41 in WY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 26% of rent.
• Market conditions: 54 active listings in the ZIP; 116 units permitted in Teton County in 2024 (10 in 5+ unit buildings).
• Teton County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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.
• 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.