236 Curtis Ave · Evansville, WY 82636

$400,000

2 bd · 1.0 ba · 3,328 sqft · MultiFamily public records · 29 Days on market

Built 1979 6,534 sqft lot $120/sqft · 11% below area Est $447k · 11% under

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +12.2/15.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. 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

• Easy access
• One bathroom
• Two-bedroom

Tags

• TWO-BEDROOM
• ONE BATHROOM
• LARGE SPACIOUS KITCHENS
• EASY ACCESS
• EXTERIOR PAINTED

Property features AI

Finance

• Other: Listed by 5150 Realty, LLC
• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex (four-unit building)
• Exterior features: Lot in Hollandswrt subdivision; Lot size approximately 0.15 acres

Interior

• Kitchen: Dishwasher; Range; Oven; Refrigerator
• Heating & cooling: Electric heating
• Interior features: Dishwasher; Refrigerator; Range; Oven; Electric heating

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $-61 ($-728/yr) — negative. Per door: $-20/mo.
• To cash-flow at today's rent, offer at most $389k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (25.1% below list).
• Recommended offer: $300k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 10.1% in Evansville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 68/100 on livability (#51 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; 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: 45 active listings in the ZIP; 310 units permitted in Natrona County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Natrona County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

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

Recommended offer $299,600 (25.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (median comp): $447,053
• List price: $400,000
• Delta: -10.53%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-68,843
• Equity at exit: $59,641

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-65,581
• Equity at exit: $34,585

Cash invested: $112,000 (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 82636

• Home prices YoY: -24.9%
• Active inventory: 45
• Price-to-rent: 33.4×

Monthly cashflow live

• Estimated rent: $2,996 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$163 /mo · $1,958/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $-61

Break-even live

Break-even rent $3,073

Max offer price $389,281

Occupancy floor 97%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$2,997
Total (3 units)			$2,996

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $400,000 Active 29 DOM
2. 2026-06-18
   days on market $400,000 Active 28 DOM
3. 2026-06-17
   days on market $400,000 Active 27 DOM
4. 2026-06-17
   days on market $400,000 Active 26 DOM
5. 2026-06-15
   statusdays on market $400,000 Active 25 DOM
6. 2026-04-23
   listed $400,000 Active 374-char remark
7. 2009-09-18
   soldstatus

ⓘ 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: $1,958 · $163/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$482/yr (+$40/mo · 24.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 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: $35,952
• − Mortgage interest: −$22,406
• − Property taxes: −$1,958
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,876
• − Management: −$2,876
• − Depreciation: −$11,636
• Taxable loss: −$7,801
• Est. tax savings @ 24.0%: +$1,872
• After-tax cash flow: $1,144/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 — Evansville

• Score: 68/100
• State rank: #51
• US rank: #9711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evansville, WY
• Population (ZIP): 3,856

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 15% Two or more races 10% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -64.77%
• Current HPI: 195.2252
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-06-14 Relisted — WMLS
• 2026-04-23 Listed $400,000 WMLS
• 2009-09-18 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,958 · +1.6% YoY. Source: county tax records.