1206 Hoy Rd · Cheyenne, WY 82009

$265,000

4 bd · 2.0 ba · 2,232 sqft · SingleFamily public records · 3 Days on market

Built 1960 6,970 sqft lot Est $415k · 36% under

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Why this score? — see what drove the C- 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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,970 sq ft lot
• Garage
• Built 1960

Tags

• MAIN FLOOR LAUNDRY OPTION
• BASEMENT FEATURES WET BAR
• WORKSHOP OR STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $31 ($371/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (20.1% below list).
• Recommended offer: $212k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.1% in Cheyenne — 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 83/100 on livability (#2 in WY, #947 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D.
• Laramie County School District #1 (urban): math 41% / reading 48% proficiency, ranked #33 of 41 in WY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hobbs Elementary (math 47% / reading 62%, grade C, #62 of 151 statewide, top 49%, 316 students, 17% FRL); Mccormick Junior High School (math 57% / reading 63%, grade B, #19 of 55 statewide, top 33%, 654 students, 22% FRL); Central High School (math 43% / reading 45%, grade F, #45 of 75 statewide, top 59%, 1,283 students, 16% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 555 active listings in the ZIP; solid renter incomes; 485 units permitted in Laramie County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Laramie County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,678 (20.1% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $415,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 Hoy Rd	0.00mi	4/2.0	2,232 (0%)	0mo	$265,000	$119	100
1010 Hoy Rd	0.13mi	4/2.0	2,200 (-1%)	12mo	$310,000	$141	82
5139 Syracuse Rd	0.32mi	3/2.0 (-1)	2,124 (-5%)	10mo	$310,000	$146	63
742 Arapaho St	0.68mi	4/2.0	2,296 (+3%)	0mo	$439,900	$192	63
1015 Hoy Rd	0.12mi	3/3.0 (-1)	2,520 (+13%)	2mo	$419,000	$166	62
512 Ogallala Pl	0.63mi	4/2.5	2,196 (-2%)	13mo	$415,000	$189	55
721 Shoshoni St	0.64mi	3/3.0 (-1)	2,344 (+5%)	0mo	$397,000	$169	53
5809 Bourne Pl	0.73mi	3/3.0 (-1)	2,278 (+2%)	1mo	$410,000	$180	52
5510 Powderhouse Rd	0.52mi	3/2.0 (-1)	2,369 (+6%)	14mo	$450,000	$190	49
1103 E Carlson St	0.61mi	3/2.0 (-1)	1,934 (-13%)	2mo	$439,900	$227	43
5009 Seminoe Rd	0.52mi	5/2.0 (+1)	2,016 (-10%)	14mo	$374,999	$186	43
5816 Sycamore Rd	0.71mi	4/2.0	1,900 (-15%)	12mo	$399,900	$210	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-32,814
• Equity at exit: $39,512

10-year hold

• IRR: 1.7%
• Equity multiple: 1.14×
• Total profit: $10,141
• Equity at exit: $22,912

Cash invested: $74,200 (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 82009

• Rents YoY: 6.7%
• Active inventory: 555
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,117 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$110
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $31

Break-even live

Break-even rent $2,078

Max offer price $265,000

Occupancy floor 94%

Sensitivity live

Price	-10% $181	-5% $106	+0% $31	+5% $-44	+10% $-119
Rent	-10% $-136	-5% $-53	+0% $31	+5% $115	+10% $198
Rate	-1.0pp $164	-0.5pp $98	base $31	+0.5pp $-38	+1.0pp $-108

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-24
   listed $265,000 Active

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,616 · $135/mo
• Expected delta: +$589/yr (+$49/mo · 57.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,401
• − Mortgage interest: −$14,844
• − Property taxes: −$1,028
• − Insurance: −$1,992
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − Depreciation: −$7,709
• Taxable loss: −$4,236
• Est. tax savings @ 24.0%: +$1,017
• After-tax cash flow: $1,388/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: Laramie County School District #1
• NCES district ID: 5601980
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $56,842
• Composite: 38.86/100
• National rank: #4103
• State rank: #33 of 41 in WY

Livability — Cheyenne

• Score: 83/100
• State rank: #2
• US rank: #947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheyenne, WY
• County: Laramie County · 94,953 people
• City population: 94,953
• Metro: Cheyenne, WY
• Population (ZIP): 35,081
• Household income: $103,835
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 608.0

Population outlook (Laramie County) Hauer SSP2

• Today (2025): 109,698 people
• By 2030: 115,710 · +5.5%
• By 2040: 127,191 · +15.9%
• By 2050: 138,476 · +26.2%
• By 2075: 168,653 · +53.7%
• By 2100: 188,739 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 6% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 3% Slovak 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Laramie

• 2024 margin: Solid R (+32.4) · D 33.0% · R 65.4% · Other 1.6%
• 2008→2024 swing: -12.1pp toward R · 2008: -20.4pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.2 2016: R+33.2 2012: R+24.8 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -339.39%
• Current HPI: 266.7583
• Rent YoY: ▲ 6.73%
• Metro: Cheyenne, WY
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-04-27 Pending — CBR
• 2026-04-24 Listed $265,000 CBR

Property tax history

-0.1%/yr

Latest (2025): $1,028 · -48.3% YoY. Source: county tax records.