1453 Highland Ave · Sheridan, WY 82801

$290,000

3 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 158 Days on market

Built 1979 3,485 sqft lot $168/sqft · 23% below area Est $375k · 23% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.6/10.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming 3-Bedroom Townhome with Bonus Room and Modern Upgrades! Welcome to this inviting 3-bedroom, 1.75-bathroom townhome featuring a versatile bonus room perfect for a home office, playroom, or extra living space. Enjoy cozy evenings by the wood stove or the efficient pellet stove, adding warmth and charm throughout the home. Recent updates include a new roof in 2024, providing peace of mind for years to come. The property offers alley access with a convenient carport, making parking and entry a breeze. Ideally located close to hospitals, schools, and local amenities, this home combines comfort, functionality, and accessibility in one great package. Don't miss the opportunity to make this delightful townhome yours!

Key facts

• Alley access
• Wood stove
• Bonus room

Tags

• BONUS ROOM
• WOOD STOVE
• PELLET STOVE
• NEW ROOF
• ALLEY ACCESS
• CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.4% in Sheridan — 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 79/100 on livability (#7 in WY, #2,337 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities C-, employment C-, commute F.
• Sheridan County School District #2 (town): math 68% / reading 72% proficiency, ranked #1 of 41 in WY (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 509 active listings in the ZIP; 309 units permitted in Sheridan County in 2024 (92 in 5+ unit buildings).
• At $3,372/mo this rent would consume 55% of the median local household income ($73k/yr) (locally 742% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Sheridan County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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

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

Recommended offer $255,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.30%
• DSCR: 1.59
• GRM: 7.2

CMA / ARV

• ARV (median comp): $374,966
• List price: $290,000
• Delta: -22.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $10,235
• Equity at exit: $43,240

10-year hold

• IRR: 12.8%
• Equity multiple: 2.01×
• Total profit: $82,333
• Equity at exit: $25,074

Cash invested: $81,200 (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 82801

• Active inventory: 509
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,372 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$122 /mo · $1,467/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $900

Break-even live

Break-even rent $2,233

Max offer price $290,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,064	-5% $982	+0% $900	+5% $818	+10% $736
Rent	-10% $634	-5% $767	+0% $900	+5% $1,033	+10% $1,166
Rate	-1.0pp $1,046	-0.5pp $974	base $900	+0.5pp $825	+1.0pp $748

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,372
Total (2 units)			$3,372

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $290,000 Active 158 DOM
2. 2026-06-18
   days on market $290,000 Active 157 DOM
3. 2026-06-17
   days on market $290,000 Active 156 DOM
4. 2026-06-16
   days on market $290,000 Active 155 DOM
5. 2026-06-15
   days on market $290,000 Active 154 DOM
6. 2026-06-14
   days on market $290,000 Active 152 DOM
7. 2026-06-12
   days on market $290,000 Active 151 DOM
8. 2026-06-09
   days on market $290,000 Active 148 DOM
9. 2026-06-08
   days on market $290,000 Active 147 DOM
10. 2026-06-07
    days on market $290,000 Active 146 DOM
11. 2026-06-05
    days on market $290,000 Active 144 DOM
12. 2026-06-03
    days on market $290,000 Active 142 DOM
13. 2026-06-02
    days on market $290,000 Active 141 DOM
14. 2026-06-01
    days on market $290,000 Active 140 DOM
15. 2026-05-31
    days on market $290,000 Active 139 DOM
16. 2026-05-30
    days on market $290,000 Active 138 DOM
17. 2026-04-13
    status Active 730-char remark

    Show marketing remark (730 chars)

    Charming 3-Bedroom Townhome with Bonus Room and Modern Upgrades! Welcome to this inviting 3-bedroom, 1.75-bathroom townhome featuring a versatile bonus room perfect for a home office, playroom, or extra living space. Enjoy cozy evenings by the wood stove or the efficient pellet stove, adding warmth and charm throughout the home. Recent updates include a new roof in 2024, providing peace of mind for years to come. The property offers alley access with a convenient carport, making parking and entry a breeze. Ideally located close to hospitals, schools, and local amenities, this home combines comfort, functionality, and accessibility in one great package. Don't miss the opportunity to make this delightful townhome yours!

18. 2026-04-07
    historical 730-char remark

    Show marketing remark (730 chars)

    Charming 3-Bedroom Townhome with Bonus Room and Modern Upgrades! Welcome to this inviting 3-bedroom, 1.75-bathroom townhome featuring a versatile bonus room perfect for a home office, playroom, or extra living space. Enjoy cozy evenings by the wood stove or the efficient pellet stove, adding warmth and charm throughout the home. Recent updates include a new roof in 2024, providing peace of mind for years to come. The property offers alley access with a convenient carport, making parking and entry a breeze. Ideally located close to hospitals, schools, and local amenities, this home combines comfort, functionality, and accessibility in one great package. Don't miss the opportunity to make this delightful townhome yours!

19. 2026-01-06
    listed $290,000 Active 730-char remark

    Show marketing remark (730 chars)

    Charming 3-Bedroom Townhome with Bonus Room and Modern Upgrades! Welcome to this inviting 3-bedroom, 1.75-bathroom townhome featuring a versatile bonus room perfect for a home office, playroom, or extra living space. Enjoy cozy evenings by the wood stove or the efficient pellet stove, adding warmth and charm throughout the home. Recent updates include a new roof in 2024, providing peace of mind for years to come. The property offers alley access with a convenient carport, making parking and entry a breeze. Ideally located close to hospitals, schools, and local amenities, this home combines comfort, functionality, and accessibility in one great package. Don't miss the opportunity to make this delightful townhome yours!

20. 2024-07-08
    soldstatus Closed 408-char remark

    Show marketing remark (408 chars)

    Great Townhome ready for it's next story! Move in ready with upgraded flooring and fresh paint. 3 bedrooms, 2 bathrooms with a fenced backyard and carport! Enjoy your evenings on the deck Located near great schools, hospital and close to downtown! Find your next chapter in this clean property whether for personal use or investment! You don't want to miss this opportunity! All measurements are approximate.

21. 2024-07-08
    soldstatus

    Show marketing remark (408 chars)

    Great Townhome ready for it's next story! Move in ready with upgraded flooring and fresh paint. 3 bedrooms, 2 bathrooms with a fenced backyard and carport! Enjoy your evenings on the deck Located near great schools, hospital and close to downtown! Find your next chapter in this clean property whether for personal use or investment! You don't want to miss this opportunity! All measurements are approximate.

22. 2024-06-05
    historical Active Under Contract 408-char remark

    Show marketing remark (408 chars)

    Great Townhome ready for it's next story! Move in ready with upgraded flooring and fresh paint. 3 bedrooms, 2 bathrooms with a fenced backyard and carport! Enjoy your evenings on the deck Located near great schools, hospital and close to downtown! Find your next chapter in this clean property whether for personal use or investment! You don't want to miss this opportunity! All measurements are approximate.

23. 2024-05-01
    price $285,000 408-char remark

    Show marketing remark (408 chars)

    Great Townhome ready for it's next story! Move in ready with upgraded flooring and fresh paint. 3 bedrooms, 2 bathrooms with a fenced backyard and carport! Enjoy your evenings on the deck Located near great schools, hospital and close to downtown! Find your next chapter in this clean property whether for personal use or investment! You don't want to miss this opportunity! All measurements are approximate.

24. 2024-04-01
    listed $299,000 Active 408-char remark

    Show marketing remark (408 chars)

    Great Townhome ready for it's next story! Move in ready with upgraded flooring and fresh paint. 3 bedrooms, 2 bathrooms with a fenced backyard and carport! Enjoy your evenings on the deck Located near great schools, hospital and close to downtown! Find your next chapter in this clean property whether for personal use or investment! You don't want to miss this opportunity! All measurements are approximate.

25. 2008-07-17
    soldstatus
26. 2008-07-16
    soldstatus
27. 2008-06-26
    listed $159,900
28. 2002-11-01
    soldstatus
29. 1999-12-22
    soldstatus
30. 1988-08-31
    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: $1,467 · $122/mo
• Projected year-2 tax: $1,769 · $147/mo
• Expected delta: +$302/yr (+$25/mo · 20.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,464
• − Mortgage interest: −$16,245
• − Property taxes: −$1,467
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,237
• − Management: −$3,237
• − Depreciation: −$8,436
• Taxable income: $6,392
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $9,266/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: Sheridan County School District #2
• NCES district ID: 5605695
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $50,902
• Composite: 59.44/100
• National rank: #923
• State rank: #1 of 41 in WY

Livability — Sheridan

• Score: 79/100
• State rank: #7
• US rank: #2337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheridan, WY
• County: Sheridan County · 26,310 people
• City population: 26,310
• Metro: Sheridan, WY
• Population (ZIP): 26,310
• Household income: $73,213
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 742.0

Population outlook (Sheridan County) Hauer SSP2

• Today (2025): 32,048 people
• By 2030: 32,834 · +2.5%
• By 2040: 33,843 · +5.6%
• By 2050: 34,744 · +8.4%
• By 2075: 37,231 · +16.2%
• By 2100: 37,261 · +16.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 4% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Sheridan

• 2024 margin: Solid R (+50.1) · D 24.2% · R 74.2% · Other 1.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -38.2pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+47.5 2016: R+51.7 2012: R+46.8 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.82%
• Current HPI: 190.3135
• Rent YoY: —
• Metro: Sheridan, WY
• State GDP YoY: —
• F500 in state: 0

Price history

+81.4% since first listed

14 events — show timeline

• 2026-04-13 Relisted — SBORWY
• 2026-04-07 Delisted — SBORWY
• 2026-01-06 Listed $290,000 SBORWY
• 2024-07-08 Sold (Public Records) — Public Records
• 2024-07-08 Sold (MLS) — SBORWY
• 2024-06-05 Contingent — SBORWY
• 2024-05-01 Price Changed $285,000 SBORWY
• 2024-04-01 Listed $299,000 SBORWY
• 2008-07-17 Sold (Public Records) — Public Records
• 2008-07-16 Sold (MLS) — SBORWY
• 2008-06-26 Listed $159,900 SBORWY
• 2002-11-01 Sold (Public Records) — Public Records
• 1999-12-22 Sold (Public Records) — Public Records
• 1988-08-31 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,467 · -17.3% YoY. Source: county tax records.