4460 S Poplar #204 St · Casper, WY 82604

$135,000

2 bd · 1.0 ba · 23,868 sqft · Condo public records · 81 Days on market

Built 1973 $6/sqft · 98% below area Est $186k · 27% under $312/mo HOA · 23% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• 1% rule +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfort & practicality wrapped in one! Enjoy the freedom of all exterior maintenance. This 2nd level condo features Bamboo flooring and ALL new appliances. One bedroom and one bath provides adequate living space. Laundry is located right next door. Enjoy your morning coffee from the deck off the living room. Additional storage on the 3rd floor plus a single detached garage. Call or Text Jill Kamber-Knox for your private showing~

Key facts

• Garage
• Built 1973
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (17.6% below list).
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $111k (17.6% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.0% in Casper — 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 78/100 on livability (#8 in WY, #2,629 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, health & safety 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.
• Zoned schools: Lincoln Elementary School (math 42% / reading 32%, grade F, #128 of 151 statewide, top 86%, 459 students, 67% FRL); Centennial Middle School (math 37% / reading 54%, grade D+, #40 of 55 statewide, top 72%, 796 students, 31% FRL); Kelly Walsh High School (math 49% / reading 60%, grade C-, #18 of 75 statewide, top 30%, 2,051 students, 29% FRL).
• Market conditions: 207 active listings in the ZIP; solid renter incomes; 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 $933 of loan paydown is wiped out by about $4k 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 81 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 35 sale attempts since 11y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $111,305 (17.6% 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. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 4.84%
• Cash-on-cash: -5.20%
• DSCR: 0.77
• GRM: 8.2

CMA / ARV

• ARV (median comp): $185,588
• List price: $135,000
• Delta: -27.26%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.9%
• Equity multiple: 0.15×
• Total profit: $-32,093
• Equity at exit: $20,129

10-year hold

• IRR: -20.2%
• Equity multiple: -0.07×
• Total profit: $-40,513
• Equity at exit: $11,672

Cash invested: $37,800 (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 82604

• Active inventory: 207
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,369 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$312
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $-164

Break-even live

Break-even rent $1,576

Max offer price $111,305

Occupancy floor —

Sensitivity live

Price	-10% $-70	-5% $-117	+0% $-164	+5% $-210	+10% $-257
Rent	-10% $-272	-5% $-218	+0% $-164	+5% $-110	+10% $-56
Rate	-1.0pp $-96	-0.5pp $-129	base $-164	+0.5pp $-199	+1.0pp $-234

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $312 · $3,744/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-22
   pricedays on market $135,000 Active 81 DOM
2. 2026-06-19
   days on market $140,000 Active 79 DOM
3. 2026-06-18
   days on market $140,000 Active 78 DOM
4. 2026-06-17
   days on market $140,000 Active 77 DOM
5. 2026-06-17
   days on market $140,000 Active 76 DOM
6. 2026-06-15
   days on market $140,000 Active 75 DOM
7. 2026-06-14
   days on market $140,000 Active 73 DOM
8. 2026-06-13
   days on market $140,000 Active 72 DOM
9. 2026-06-10
   days on market $140,000 Active 70 DOM
10. 2026-06-09
    days on market $140,000 Active 69 DOM
11. 2026-06-08
    days on market $140,000 Active 68 DOM
12. 2026-06-07
    days on market $140,000 Active 67 DOM
13. 2026-06-05
    days on market $140,000 Active 64 DOM
14. 2026-06-03
    days on market $140,000 Active 63 DOM
15. 2026-06-02
    days on market $140,000 Active 62 DOM
16. 2026-06-01
    days on market $140,000 Active 61 DOM
17. 2026-05-31
    days on market $140,000 Active 60 DOM
18. 2026-05-30
    days on market $140,000 Active 59 DOM
19. 2026-04-28
    price $140,000 438-char remark

    Show marketing remark (438 chars)

    Comfort & practicality wrapped in one! Enjoy the freedom of all exterior maintenance. This 2nd level condo features Bamboo flooring and ALL new appliances. One bedroom and one bath provides adequate living space. Laundry is located right next door. Enjoy your morning coffee from the deck off the living room. Additional storage on the 3rd floor plus a single detached garage. Call or Text Jill Kamber-Knox for your private showing~

20. 2026-03-21
    listed $150,000 Active 438-char remark

    Show marketing remark (438 chars)

    Comfort & practicality wrapped in one! Enjoy the freedom of all exterior maintenance. This 2nd level condo features Bamboo flooring and ALL new appliances. One bedroom and one bath provides adequate living space. Laundry is located right next door. Enjoy your morning coffee from the deck off the living room. Additional storage on the 3rd floor plus a single detached garage. Call or Text Jill Kamber-Knox for your private showing~

21. 2026-02-25
    soldstatus Closed 613-char remark

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

22. 2026-02-25
    listed $129,000 Active

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

23. 2026-02-03
    listed $150,000 Active
24. 2026-02-02
    status Pending 613-char remark

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

25. 2026-01-06
    price $115,000 613-char remark

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

26. 2025-10-17
    price $120,000 613-char remark

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

27. 2025-09-09
    listed $130,000 Active 613-char remark

    Show marketing remark (613 chars)

    Enjoy wonderful views from this beautifully maintained 3rd-floor condo overlooking area. This home offers easy living with updated features, including newer windows, fresh carpet, and a covered balcony perfect for relaxing outdoors. Additional conveniences include laundry on the 2nd floor with extra storage, a single detached garage, and community pool access once renovations are complete. A comfortable and well-cared-for condo you’ll be proud to call home! Storage room B #23 Garage # 53 Contact CJ Lovato ~ for a personal tour or questions on this property call today 307-259-5958! lovatohomes.com

28. 2025-08-22
    soldstatus Closed
29. 2025-08-09
    status Pending
30. 2025-08-06
    listed $140,000 Active
31. 2025-06-23
    soldstatus Closed
32. 2025-06-09
    historical
33. 2025-05-05
    listed $169,900
34. 2025-03-05
    soldstatus Closed
35. 2025-02-12
    soldstatus Closed
36. 2025-02-03
    status Pending
37. 2025-01-30
    soldstatus Closed
38. 2025-01-11
    status Pending
39. 2024-12-31
    historical
40. 2024-12-31
    price $140,000
41. 2024-12-31
    listed $140,000
42. 2024-12-28
    listed $145,000 Active
43. 2024-12-12
    listed $145,000 Active
44. 2024-06-07
    soldstatus Closed
45. 2024-05-20
    status Pending
46. 2024-05-17
    listed $125,000 Active
47. 2024-05-14
    soldstatus Closed
48. 2024-04-22
    soldstatus Closed
49. 2024-04-21
    status Pending
50. 2024-04-03
    status Pending

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

Taxation est. · year 1

• Rental income: $16,423
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − HOA: −$3,744
• − Depreciation: −$3,927
• Taxable loss: −$4,138
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $-972/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 — Casper

• Score: 78/100
• State rank: #8
• US rank: #2629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Casper, WY
• County: Natrona County · 72,922 people
• City population: 72,922
• Metro: Casper, WY
• Population (ZIP): 27,487
• Household income: $79,118
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 396.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 2% · Canada, China, Guatemala
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 1%

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: ▼ -238.49%
• Current HPI: 180.7072
• Rent YoY: —
• Metro: Casper, WY
• State GDP YoY: —
• F500 in state: 0

Price history

+45.8% since first listed

76 events — show timeline

• 2026-04-28 Price Changed $140,000 WMLS
• 2026-03-21 Listed $150,000 WMLS
• 2026-02-25 Listed $129,000 WMLS
• 2026-02-25 Sold (MLS) — WMLS
• 2026-02-03 Listed $150,000 WMLS
• 2026-02-02 Pending — WMLS
• 2026-01-06 Price Changed $115,000 WMLS
• 2025-10-17 Price Changed $120,000 WMLS
• 2025-09-09 Listed $130,000 WMLS
• 2025-08-22 Sold (MLS) — WMLS
• 2025-08-09 Pending — WMLS
• 2025-08-06 Listed $140,000 WMLS
• 2025-06-23 Sold (MLS) — WMLS
• 2025-06-09 Delisted — WMLS
• 2025-05-05 Listed $169,900 WMLS
• 2025-03-05 Sold (MLS) — WMLS
• 2025-02-12 Sold (MLS) — WMLS
• 2025-02-03 Pending — WMLS
• 2025-01-30 Sold (MLS) — WMLS
• 2025-01-11 Pending — WMLS
• 2024-12-31 Listed $140,000 WMLS
• 2024-12-31 Price Changed $140,000 WMLS
• 2024-12-31 Delisted — WMLS
• 2024-12-28 Listed $145,000 WMLS
• 2024-12-12 Listed $145,000 WMLS
• 2024-06-07 Sold (MLS) — WMLS
• 2024-05-20 Pending — WMLS
• 2024-05-17 Listed $125,000 WMLS
• 2024-05-14 Sold (MLS) — WMLS
• 2024-04-22 Sold (MLS) — WMLS
• 2024-04-21 Pending — WMLS
• 2024-04-03 Pending — WMLS
• 2024-04-02 Listed $128,500 WMLS
• 2024-02-16 Price Changed $125,000 WMLS
• 2024-01-22 Price Changed $130,000 WMLS
• 2023-12-26 Listed $135,000 WMLS
• 2023-10-28 Sold (MLS) — WMLS
• 2023-10-06 Delisted — WMLS
• 2023-06-28 Listed $130,000 WMLS
• 2023-05-18 Sold (MLS) — WMLS
• 2023-04-17 Listed $125,000 WMLS
• 2023-03-29 Sold (MLS) — WMLS
• 2023-01-11 Listed $139,900 WMLS
• 2022-10-07 Sold (MLS) — WMLS
• 2022-08-15 Listed $115,000 WMLS
• 2022-06-23 Listed $139,000 WMLS
• 2022-05-16 Sold (MLS) — WMLS
• 2022-04-27 Listed $94,500 WMLS
• 2021-07-15 Sold (MLS) — WMLS
• 2021-07-12 Sold (MLS) — WMLS
• 2021-06-23 Listed $125,000 WMLS
• 2021-06-07 Listed $107,000 WMLS
• 2021-04-23 Sold (MLS) — WMLS
• 2021-03-09 Listed $85,000 WMLS
• 2021-01-25 Listed $85,000 WMLS
• 2020-09-01 Sold (MLS) — WMLS
• 2020-07-01 Listed $69,900 WMLS
• 2018-10-16 Sold (MLS) — WMLS
• 2018-08-17 Sold (MLS) — WMLS
• 2018-07-10 Listed $80,000 WMLS
• 2018-06-15 Listed $85,500 WMLS
• 2018-05-18 Sold (MLS) — WMLS
• 2017-12-18 Listed $95,000 WMLS
• 2017-04-18 Sold (MLS) — WMLS
• 2017-03-21 Listed $93,000 WMLS
• 2016-08-26 Listed $110,000 WMLS
• 2016-08-18 Listed $90,000 WMLS
• 2016-08-12 Sold (MLS) — WMLS
• 2016-07-27 Listed $88,000 WMLS
• 2016-04-29 Sold (MLS) — WMLS
• 2016-04-12 Listed $91,000 WMLS
• 2016-04-05 Listed $105,900 WMLS
• 2016-02-24 Listed $94,000 WMLS
• 2015-11-01 Sold (MLS) — WMLS
• 2015-10-12 Listed $96,000 WMLS
• 2015-06-01 Listed $900 WMLS