Gillingham Plan · Cheyenne, WY 82009

$186,000

2 bd · 2.0 ba · 1,159 sqft · Townhouse · 238 Days on market

Poor condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.1/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Cash flow +2.6/30.0
• Condition / age +1.0/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Key facts

• Reading areas
• Car wash bay
• Hobby shop

Tags

• HOBBY SHOP
• READING AREAS
• GUEST SUITE
• GARDEN PLOTS
• UNDERGROUND HEATED PARKING
• CAR WASH BAY

🏗️ New construction. The $186,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $313,718.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $186k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (25.3% below list).
• Recommended offer: $139k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 2.2% vs local median 3.4% in Cheyenne — 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 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: Anderson Elementary (math 57% / reading 67%, grade B, #30 of 151 statewide, top 26%, 327 students, 30% FRL); Carey Junior High School (math 43% / reading 50%, grade D+, #39 of 55 statewide, top 70%, 861 students, 38% FRL); East High School (math 43% / reading 43%, grade F, #46 of 75 statewide, top 61%, 1,513 students, 30% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 844 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 485 units permitted in Laramie County in 2024 (104 in 5+ unit buildings).
• This rent is only 16% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Laramie County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,025 (25.3% 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 238 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.44% ✗
• Cap rate: 2.20%
• Cash-on-cash: -14.61%
• DSCR: 0.35
• GRM: 18.8

CMA / ARV

• ARV (median comp): $313,718
• List price: $186,000
• Delta: -40.71%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6005 Sycamore Rd	0.46mi	2/2.0	1,185 (+2%)	18mo	$325,000	$274	60
323 Appletree Ln	0.82mi	2/2.0	1,057 (-9%)	1mo	$308,000	$291	50
5925 Townsend Pl	0.87mi	2/2.0	1,057 (-9%)	4mo	$284,900	$270	47
326 Arbor Ln	0.86mi	2/2.0	1,057 (-9%)	17mo	$310,000	$293	36
247 Miller Ln	0.86mi	2/1.0	952 (-18%)	1mo	$195,000	$205	35
1839 Bluegrass Cir	0.90mi	3/1.5 (+1)	1,243 (+7%)	14mo	$289,000	$233	34
5253 Fishing Brg	0.80mi	2/2.5	1,024 (-12%)	18mo	$210,000	$205	29
5522 Townsend Pl Unit B	0.81mi	2/2.0	1,366 (+18%)	16mo	$285,000	$209	26
5520 Townsend Pl Unit B	0.82mi	2/2.0	1,366 (+18%)	17mo	$299,000	$219	26
1822 Bluegrass Cir	0.85mi	3/1.5 (+1)	1,280 (+10%)	18mo	$269,900	$211	25
5520 Townsend Pl Unit A	0.82mi	2/2.0	1,366 (+18%)	19mo	$300,000	$220	24
1843 Edgewater Ave	0.95mi	3/1.5 (+1)	1,302 (+12%)	19mo	$287,500	$221	22

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: -40.4%
• Equity multiple: -0.29×
• Total profit: $-113,534
• Equity at exit: $46,776

10-year hold

• IRR: -42.3%
• Equity multiple: -0.85×
• Total profit: $-162,523
• Equity at exit: $27,125

Cash invested: $87,841 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 16 active · 3 under contract
• Months of supply: 32.0 mo (3%/mo absorbed)
• Median asking: $223,000 ($168/sqft)
• Median days on market: 238 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: +61.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 82009

• Rents YoY: 6.7%
• Active inventory: 844
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$1,645
• Tax est. 1.5%: −$392 /mo · $4,706/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $-1,070

Break-even live

Break-even rent $2,744

Max offer price $158,925

Occupancy floor —

Sensitivity live

Price	-10% $-853	-5% $-961	+0% $-1,070	+5% $-1,178	+10% $-1,287
Rent	-10% $-1,180	-5% $-1,125	+0% $-1,070	+5% $-1,015	+10% $-960
Rate	-1.0pp $-912	-0.5pp $-990	base $-1,070	+0.5pp $-1,151	+1.0pp $-1,234

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: $78,430
• Closing costs: $9,412
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 Edgewater Ave Unit 1829 Cheyenne, WY	2.0	1.0	896	$1,250	$1.40	5d	1	0.95mi
153 Brookfield Ct Apt 6 Cheyenne, WY	2.0	1.0	818	$975	$1.19	4d	1	1.19mi
5711 Education Dr Cheyenne, WY	1.0–2.0	1.0	819	$1,105	$1.35	5d	1	1.25mi
311 E 5th Ave Cheyenne, WY	2.0	2.0	1350	$1,695	$1.26	5d	1	1.34mi
108 Camelot Ct Unit 203 Cheyenne, WY	2.0	1.0	881	$1,049	$1.19	5d	1	1.38mi
4700 Mountain Rd Cheyenne, WY	2.0	1.0	850	$1,340	$1.58	2d	1	1.41mi
4701 Mountain Rd Apt 2 Cheyenne, WY	2.0	1.0	708	$1,000	$1.41	5d	1	1.45mi

Property features AI

Finance

• Financial info: List price $183,000New construction inventory: Plan

Exterior

• Parking: 1 parking space
• Home design: Single-family planGillingham floor plan
• Construction: Living area approximately 1,159
• Exterior features: Located at Powderhouse Road and Melton St, Cheyenne, WY

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Gillingham)

Listing history 50 events

1. 2026-09-24
   days on market $186,000 Active 238 DOM
2. 2026-09-22
   days on market $186,000 Active 237 DOM
3. 2026-09-20
   days on market $186,000 Active 235 DOM
4. 2026-09-18
   days on market $186,000 Active 233 DOM
5. 2026-09-17
   days on market $186,000 Active 232 DOM
6. 2026-09-16
   days on market $186,000 Active 231 DOM
7. 2026-09-16
   days on market $186,000 Active 230 DOM
8. 2026-09-14
   days on market $186,000 Active 229 DOM
9. 2026-09-13
   days on market $186,000 Active 228 DOM
10. 2026-09-12
    days on market $186,000 Active 227 DOM
11. 2026-09-11
    days on market $186,000 Active 226 DOM
12. 2026-09-05
    days on market $186,000 Active 220 DOM
13. 2026-09-04
    days on market $186,000 Active 219 DOM
14. 2026-09-03
    days on market $186,000 Active 218 DOM
15. 2026-09-02
    days on market $186,000 Active 217 DOM
16. 2026-08-30
    days on market $186,000 Active 214 DOM
17. 2026-08-29
    days on market $186,000 Active 213 DOM
18. 2026-08-28
    days on market $186,000 Active 212 DOM
19. 2026-08-27
    days on market $186,000 Active 211 DOM
20. 2026-08-26
    days on market $186,000 Active 210 DOM
21. 2026-08-25
    days on market $186,000 Active 209 DOM
22. 2026-08-24
    days on market $186,000 Active 208 DOM
23. 2026-08-23
    days on market $186,000 Active 207 DOM
24. 2026-08-22
    days on market $186,000 Active 206 DOM
25. 2026-08-21
    days on market $186,000 Active 205 DOM
26. 2026-08-20
    days on market $186,000 Active 204 DOM
27. 2026-08-19
    days on market $186,000 Active 203 DOM
28. 2026-08-18
    days on market $186,000 Active 202 DOM
29. 2026-08-17
    days on market $186,000 Active 201 DOM
30. 2026-08-16
    days on market $186,000 Active 200 DOM
31. 2026-08-15
    days on market $186,000 Active 199 DOM
32. 2026-08-14
    days on market $186,000 Active 198 DOM
33. 2026-08-13
    days on market $186,000 Active 197 DOM
34. 2026-08-12
    days on market $186,000 Active 196 DOM
35. 2026-08-11
    days on market $186,000 Active 195 DOM
36. 2026-08-10
    days on market $186,000 Active 194 DOM
37. 2026-08-09
    days on market $186,000 Active 193 DOM
38. 2026-08-08
    days on market $186,000 Active 192 DOM
39. 2026-08-07
    days on market $186,000 Active 191 DOM
40. 2026-08-06
    days on market $186,000 Active 190 DOM
41. 2026-08-05
    days on market $186,000 Active 189 DOM
42. 2026-08-04
    days on market $186,000 Active 188 DOM
43. 2026-08-03
    days on market $186,000 Active 187 DOM
44. 2026-08-01
    price $186,000 Active 184 DOM
45. 2026-07-31
    days on market $183,000 Active 184 DOM
46. 2026-07-30
    days on market $183,000 Active 183 DOM
47. 2026-07-29
    days on market $183,000 Active 182 DOM
48. 2026-07-27
    days on market $183,000 Active 180 DOM
49. 2026-07-25
    days on market $183,000 Active 178 DOM
50. 2026-07-23
    days on market $183,000 Active 176 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 20 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: $16,683
• − Mortgage interest: −$17,573
• − Property taxes: −$4,706
• − Insurance: −$1,569
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$9,126
• Taxable loss: −$18,960
• Est. tax savings @ 24.0%: +$4,550
• After-tax cash flow: $-8,286/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $57,950–$104,310 screening

This property requires extensive repairs and maintenance, including roof, interior wall, and flooring repairs, as well as system upgrades and landscaping improvements. The overall condition is poor, and significant investment is needed to bring the property up to a livable standard.

Repairs flagged

• Major roof — Significant damage visible in the independent aerial image.
• Major interior walls — Visible damage and discoloration in the interior walls.
• Major flooring — No visible flooring, but overall condition suggests it may be in poor shape.
• Major systems — No visible systems, but overall condition suggests they may be in poor shape.
• Major landscaping — No visible landscaping, but overall condition suggests it may be in poor shape.
• Major fencing — No visible fencing, but overall condition suggests it may be in poor shape.

Value-add opportunities

• Both roof repair — Fixing the roof is critical for both resale and rental value. ↑
• Both interior wall repairs — Repairing the interior walls will improve the home's appearance and functionality. ↑
• Both flooring replacement — Replacing the flooring will significantly improve the home's appearance and functionality. ↑
• Both system upgrades — Upgrading the systems will improve the home's functionality and energy efficiency. ↑
• Both landscaping improvements — Improving the landscaping will enhance the home's curb appeal and overall value. ↑
• Both fencing repairs — Repairing the fencing will improve the home's safety and appearance. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Anderson Elementary B WY #30/151 Nat'l #6,217/41,679 Middle Carey Junior High School D+ WY #39/55 Nat'l #4,335/14,009 High East High School F WY #46/75 Nat'l #7,439/17,239

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

A Composite livability gradescore 83/100

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

• County: Laramie County · 109,698 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: 12% of renters

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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%

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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%

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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

Property features AI

Finance

• Financial info: List price $183,000New construction inventory: Plan

Exterior

• Parking: 1 parking space
• Home design: Single-family planGillingham floor plan
• Construction: Living area approximately 1,159
• Exterior features: Located at Powderhouse Road and Melton St, Cheyenne, WY

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Gillingham)