506 Peake St · Midwest, WY 82643

$25,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 38 Days on market

Built 1920

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Calling all Project Warriors! A perfect sweat equity investment! Been looking for a home to rehab? This could make a great rental property! Or just looking for a spot of land to make your own? Possibilities are endless in this structure & lot located in Midwest, Wyoming with a large lot, over 10,000 square feet, with town utilities and storage sheds. Property is being sold in AS-IS condition. No title insurance available on this property! Utilities haven't been on in numerous years as well!

Key facts

• New plumbing
• New doors
• Fully fenced area

Tags

• NEW DOORS
• NEW ELECTRICAL
• NEW PLUMBING
• FULLY FENCED AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#70 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D+, amenities F, commute F.
• Natrona County School District #1 (urban): math 44% / reading 52% proficiency, ranked #32 of 41 in WY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 310 units permitted in Natrona County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $314 of equity ($173 loan paydown + $141 appreciation (0.6% local appreciation)).
• Natrona County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 3.98% ✓
• Cap rate: 37.04%
• Cash-on-cash: 109.83%
• DSCR: 5.89
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.57% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.82×
• Total profit: $40,743
• Equity at exit: $7,974

10-year hold

• IRR: —
• Equity multiple: 14.15×
• Total profit: $92,072
• Equity at exit: $10,177

Cash invested: $7,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Wyoming: 90 Strongly Landlord-Friendly · R+25
• County: — inherits STATE
• City: — inherits STATE

3-day notice; strongly landlord-favorable; small market.

Methodology + full state rankings →

ZIP-level market 82643

• Home prices YoY: 0.8%
• Active inventory: 2
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$4 /mo · $51/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $641

Break-even live

Break-even rent $184

Max offer price $25,000

Occupancy floor 31%

Sensitivity live

Price	-10% $655	-5% $648	+0% $641	+5% $605	+10% $596
Rent	-10% $562	-5% $601	+0% $641	+5% $680	+10% $719
Rate	-1.0pp $653	-0.5pp $647	base $641	+0.5pp $634	+1.0pp $628

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $25,000 Active 38 DOM
2. 2026-06-18
   days on market $25,000 Active 37 DOM
3. 2026-06-17
   days on market $25,000 Active 36 DOM
4. 2026-06-17
   days on market $25,000 Active 35 DOM
5. 2026-06-15
   days on market $25,000 Active 34 DOM
6. 2026-06-14
   days on market $25,000 Active 32 DOM
7. 2026-06-13
   days on market $25,000 Active 31 DOM
8. 2026-06-10
   days on market $25,000 Active 29 DOM
9. 2026-06-09
   days on market $25,000 Active 28 DOM
10. 2026-06-08
    days on market $25,000 Active 27 DOM
11. 2026-06-07
    days on market $25,000 Active 26 DOM
12. 2026-06-05
    days on market $25,000 Active 23 DOM
13. 2026-06-03
    days on market $25,000 Active 22 DOM
14. 2026-06-02
    days on market $25,000 Active 21 DOM
15. 2026-06-01
    days on market $25,000 Active 20 DOM
16. 2026-05-31
    days on market $25,000 Active 19 DOM
17. 2026-05-30
    days on market $25,000 Active 18 DOM
18. 2026-05-12
    listed $25,000 Active 1198-char remark
19. 2022-05-23
    soldstatus
20. 2022-05-20
    soldstatus 501-char remark

    Show marketing remark (501 chars)

    Calling all Project Warriors! A perfect sweat equity investment! Been looking for a home to rehab? This could make a great rental property! Or just looking for a spot of land to make your own? Possibilities are endless in this structure & lot located in Midwest, Wyoming with a large lot, over 10,000 square feet, with town utilities and storage sheds. Property is being sold in AS-IS condition. No title insurance available on this property! Utilities haven't been on in numerous years as well!

21. 2022-02-23
    listed $10,000 501-char remark

    Show marketing remark (501 chars)

    Calling all Project Warriors! A perfect sweat equity investment! Been looking for a home to rehab? This could make a great rental property! Or just looking for a spot of land to make your own? Possibilities are endless in this structure & lot located in Midwest, Wyoming with a large lot, over 10,000 square feet, with town utilities and storage sheds. Property is being sold in AS-IS condition. No title insurance available on this property! Utilities haven't been on in numerous years as well!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WY · Resets to sale price

• Current annual tax: $51 · $4/mo
• Projected year-2 tax: $152 · $13/mo
• Expected delta: +$102/yr (+$8/mo · 201.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,945
• − Mortgage interest: −$1,400
• − Property taxes: −$51
• − Insurance: −$125
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$727
• Taxable income: $7,731
• Est. tax owed @ 24.0%: −$1,855
• After-tax cash flow: $5,833/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Natrona County School District #1
• NCES district ID: 5604510
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $55,217
• Composite: 41.6/100
• National rank: #3437
• State rank: #32 of 41 in WY

Livability — Midwest

• Score: 66/100
• State rank: #70
• US rank: #11444

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment B+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midwest, WY
• Population (ZIP): 218

Population outlook (Natrona County) Hauer SSP2

• Today (2025): 98,530 people
• By 2030: 107,084 · +8.7%
• By 2040: 124,838 · +26.7%
• By 2050: 143,617 · +45.8%
• By 2075: 192,378 · +95.2%
• By 2100: 228,435 · +131.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Serbian 4% Scottish 2% Portuguese 2%

Political lean MEDSL · Natrona

• 2024 margin: Solid R (+48.6) · D 24.8% · R 73.5% · Other 1.7%
• 2008→2024 swing: -14.3pp toward R · 2008: -34.4pp · 2024: -48.6pp
• All cycles: 2024: R+48.6 2020: R+47.6 2016: R+52.2 2012: R+41.1 2008: R+34.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.57%
• Current HPI: 69.0667
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+150.0% since first listed

4 events — show timeline

• 2026-05-12 Listed $25,000 FSBO.com
• 2022-05-23 Sold (Public Records) — Public Records
• 2022-05-20 Sold (MLS) — WMLS
• 2022-02-23 Listed $10,000 WMLS

Property tax history

-13.3%/yr

Latest (2025): $51 · -21.4% YoY. Source: county tax records.