1228 Main St

Reliance, WY 82943

$120,000B

5 bd · 1.0 ba · 3,976 sqft · Built 1910 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,479/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $408/mo
• Annual: $4,892/yr
• Cap rate: 10.37%
• Cash-on-cash: 14.56%
• DSCR: 1.65
• 1% rule: 1.23%
• Cash to close: $33,600

Investor read

• This is a 5-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 26 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($830 loan paydown + $5k appreciation (3.9% local appreciation)).
• Location reads 39/100 on livability (#177 in WY) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment 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.
• Zoned schools: Northpark Elementary (math 47% / reading 42%, grade F, #103 of 151 statewide, top 73%, 177 students, 38% FRL); Rock Springs Junior High (math 43% / reading 52%, grade C-, #38 of 55 statewide, top 69%, 769 students, 39% FRL); Rock Springs High School (math 37% / reading 43%, grade F, #51 of 75 statewide, top 68%, 1,502 students, 31% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 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.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1910 — 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.
• 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.