2260 Franklin St · Laramie, WY 82070

$45,000

3 bd · 2.0 ba · 1,620 sqft · MultiFamily · 38 Days on market

Built 1980 Fair condition

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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
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• Built 1980
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.7% vs local median 2.3% in Laramie — 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.

Location & tenants

• Location reads 73/100 on livability (#23 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, amenities A-; Watch: employment D+, commute F.
• Albany County School District #1 (town): math 51% / reading 59% proficiency, ranked #19 of 41 in WY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.2%/yr); 275 active listings in the ZIP; 99 units permitted in Albany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Albany County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,650 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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.

Investment metrics

• 1% rule: 3.03% ✓
• Cap rate: 26.74%
• Cash-on-cash: 73.02%
• DSCR: 4.25
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.21% rent growth · sell at horizon

5-year hold

• IRR: 71.9%
• Equity multiple: 4.21×
• Total profit: $40,487
• Equity at exit: $6,710

10-year hold

• IRR: 75.6%
• Equity multiple: 8.45×
• Total profit: $93,876
• Equity at exit: $3,891

Cash invested: $12,600 (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 82070

• Rents YoY: 2.2%
• Active inventory: 275
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $767

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 39%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $45,000 Active 38 DOM
2. 2026-06-18
   days on market $45,000 Active 37 DOM
3. 2026-06-17
   days on market $45,000 Active 36 DOM
4. 2026-06-16
   days on market $45,000 Active 35 DOM
5. 2026-06-15
   days on market $45,000 Active 34 DOM
6. 2026-06-14
   days on market $45,000 Active 32 DOM
7. 2026-06-12
   days on market $45,000 Active 31 DOM
8. 2026-06-09
   days on market $45,000 Active 28 DOM
9. 2026-06-08
   days on market $45,000 Active 27 DOM
10. 2026-06-07
    days on market $45,000 Active 26 DOM
11. 2026-06-05
    days on market $45,000 Active 23 DOM
12. 2026-06-03
    days on market $45,000 Active 22 DOM
13. 2026-06-02
    days on market $45,000 Active 21 DOM
14. 2026-06-01
    days on market $45,000 Active 20 DOM
15. 2026-05-31
    days on market $45,000 Active 19 DOM
16. 2026-05-30
    days on market $45,000 Active 18 DOM
17. 2026-05-12
    listed $45,000 Active
18. 2022-02-16
    price $750

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,371
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$1,309
• Taxable income: $9,022
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $7,036/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This multi-family property requires significant repairs and maintenance to improve its condition and value. Immediate attention to the exterior, roof, and landscaping is crucial.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — Siding condition suggests underlying issues
• Major flooring — Siding condition suggests potential subfloor issues
• Major interior walls/paint — Siding condition suggests potential drywall issues
• Major HVAC/mechanicals — Siding condition suggests potential mechanical issues
• Major landscaping — Minimal landscaping

Value-add opportunities

• Both repair and paint exterior — Enhances curb appeal and property value
• Both repair and replace roof — Critical to property value and safety
• Both repair and replace flooring — Improves living conditions and property value
• Both repair and paint interior walls — Enhances living conditions and property value
• Both repair and replace HVAC/mechanicals — Improves comfort and property value
• Both landscape and improve curb appeal — Enhances property value and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · Siding condition suggests underlying issues	Major	$15,000–50,000
flooring · Siding condition suggests potential subfloor issues	Major	$15,000–50,000
interior walls/paint · Siding condition suggests potential drywall issues	Major	$15,000–50,000
HVAC/mechanicals · Siding condition suggests potential mechanical issues	Major	$15,000–50,000
landscaping · Minimal landscaping	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both repair and paint exterior — Enhances curb appeal and property value ↑
• Both repair and replace roof — Critical to property value and safety ↑
• Both repair and replace flooring — Improves living conditions and property value ↑
• Both repair and paint interior walls — Enhances living conditions and property value ↑
• Both repair and replace HVAC/mechanicals — Improves comfort and property value ↑
• Both landscape and improve curb appeal — Enhances property value and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Albany County School District #1
• NCES district ID: 5600730
• Math proficiency: 51% ▼ -11.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $43,169
• Composite: 46.25/100
• National rank: #2485
• State rank: #19 of 41 in WY

Livability — Laramie

• Score: 73/100
• State rank: #23
• US rank: #5539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laramie, WY
• County: Albany County · 37,075 people
• City population: 37,075
• Metro: Laramie, WY
• Population (ZIP): 20,144
• Household income: $69,095
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 974.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 43,687 people
• By 2030: 46,862 · +7.3%
• By 2040: 53,248 · +21.9%
• By 2050: 60,547 · +38.6%
• By 2075: 82,326 · +88.4%
• By 2100: 102,008 · +133.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 7% Asian 2% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 6% Slovak 4% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Albany

• 2024 margin: Toss-up / Even · D 47.5% · R 50.6% · Other 1.9%
• 2008→2024 swing: -7.3pp toward R · 2008: 4.1pp · 2024: -3.2pp
• All cycles: 2024: R+3.2 2020: D+2.8 2016: R+4.3 2012: R+2.5 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -396.34%
• Current HPI: 193.777
• Rent YoY: ▲ 2.21%
• Metro: Laramie, WY
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-12 Listed $45,000 FSBO.com
• 2022-02-16 Price Changed $750 RENT.