473 Miller Ave · Evanston, WY 82930

$189,000

3 bd · 2.0 ba · 1,635 sqft · MultiFamily public records · 7 Days on market

Built 1982 4,356 sqft lot

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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 +12.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• DSCR +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Spacious backyard
• Newer roof
• Second living area

Tags

• MULTI-LEVEL LAYOUT
• SPACIOUS BACKYARD
• SECOND LIVING AREA
• NEWER ROOF
• NEWER WINDOWS

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction; Asphalt roof
• Exterior features: Deck; Wood fence

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Oven
• Flooring: Carpet; Laminate
• Heating & cooling: Forced air heating
• Interior features: Dishwasher; Refrigerator; Range; Oven
• Laundry & utility: Laundry located in the basement; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $-14 ($-165/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (24.9% below list).
• Recommended offer: $142k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.0% in Evanston — 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 61/100 on livability (#112 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Uinta County School District #1 (town): math 54% / reading 57% proficiency, ranked #17 of 41 in WY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 114 active listings in the ZIP; 50 units permitted in Uinta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Uinta County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $141,882 (24.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.93×
• Total profit: $101,973
• Equity at exit: $170,266

10-year hold

• IRR: 21.3%
• Equity multiple: 6.68×
• Total profit: $300,816
• Equity at exit: $367,185

Cash invested: $52,920 (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 82930

• Home prices YoY: 4.4%
• Active inventory: 114
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$65 /mo · $777/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-14

Break-even live

Break-even rent $1,436

Max offer price $186,566

Occupancy floor 96%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $189,000 Active 7 DOM
2. 2026-06-17
   days on market $189,000 Active 6 DOM
3. 2026-06-16
   days on market $189,000 Active 5 DOM
4. 2026-06-15
   days on market $189,000 Active 4 DOM
5. 2026-06-15
   days on market $189,000 Active 3 DOM
6. 2026-06-13
   days on market $189,000 Active 2 DOM
7. 2026-06-12
   listed $189,000 Active 1 DOM

ⓘ 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: $777 · $65/mo
• Projected year-2 tax: $1,153 · $96/mo
• Expected delta: +$376/yr (+$31/mo · 48.4%)

ⓘ 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 1/10 Low 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,026
• − Mortgage interest: −$10,587
• − Property taxes: −$777
• − Insurance: −$945
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$5,498
• Taxable loss: −$3,506
• Est. tax savings @ 24.0%: +$841
• After-tax cash flow: $676/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: Uinta County School District #1
• NCES district ID: 5602760
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 57% ▲ 2.00%
• Median HH income: $53,206
• Composite: 47.65/100
• National rank: #2247
• State rank: #17 of 41 in WY

Livability — Evanston

• Score: 61/100
• State rank: #112
• US rank: #17873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, WY
• Population (ZIP): 14,836

Population outlook (Uinta County) Hauer SSP2

• Today (2025): 19,871 people
• By 2030: 19,106 · -3.8%
• By 2040: 17,394 · -12.5%
• By 2050: 15,715 · -20.9%
• By 2075: 12,193 · -38.6%
• By 2100: 9,429 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 8% Italian 4% Scottish 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Uinta

• 2024 margin: Solid R (+63.7) · D 17.4% · R 81.1% · Other 1.6%
• 2008→2024 swing: -22.6pp toward R · 2008: -41.1pp · 2024: -63.7pp
• All cycles: 2024: R+63.7 2020: R+62.8 2016: R+61.5 2012: R+59.0 2008: R+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.96%
• Current HPI: 401.04
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-06-11 Listed $189,000 WMLS
• 1998-06-25 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $777 · -22.5% YoY. Source: county tax records.