1317A Mccabe St

Rock Springs, WY 82901

$315,000C

6 bd · 4.0 ba · 3,152 sqft · Built 1980 · MultiFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,378/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$324
• HOA: −$0
• Vac / Maint / Mgmt: −$709
• Net cashflow: $692/mo
• Annual: $8,309/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• 1% rule: 1.07%
• Cash to close: $88,200

Investor read

• This is a 6-bed/4.0-bath multifamily listed at $315k.
• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $315k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#35 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Sweetwater County School District #1 (town): math 44% / reading 49% proficiency, ranked #31 of 41 in WY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.1%/yr); 177 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.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 2.9% in Rock Springs — 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.
• At $3,378/mo this rent would consume 58% of the median local household income ($70k/yr) (locally 609% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.