706 Halbert St · Ranchester, WY 82839

$47,500

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 11 Days on market

Built 1974 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Appreciation +4.9/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Key facts

• Laminate flooring
• Tile in the kitchen
• Newer windows

Tags

• NEWER WINDOWS
• FRESH INTERIOR PAINT
• LAMINATE FLOORING
• VINYL PLANK FLOORING
• TILE IN THE KITCHEN
• NEWER CARPET

Property features AI

Exterior

• Utilities: Public sewer (connected)
• Home design: Residential mobile home
• Construction: Metal roof
• Exterior features: Covered patio/porch; Deck; Partial fenced yard; Shed(s)

Interior

• Heating & cooling: Propane heating with forced air; Has heating
• Interior features: Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $48k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).

Location & tenants

• Location reads 66/100 on livability (#69 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Sheridan County School District #1 (rural): math 64% / reading 69% proficiency, ranked #2 of 41 in WY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 22 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 309 units permitted in Sheridan County in 2024 (92 in 5+ unit buildings).

Forward outlook

• In year one you build about $191 of equity ($328 loan paydown + $-137 appreciation (-0.3% local appreciation)).
• Sheridan County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 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 $47,500

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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: 3.11% ✓
• Cap rate: 27.44%
• Cash-on-cash: 75.52%
• DSCR: 4.36
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.5%
• Equity multiple: 4.86×
• Total profit: $51,302
• Equity at exit: $13,112

10-year hold

• IRR: 79.3%
• Equity multiple: 9.94×
• Total profit: $118,926
• Equity at exit: $15,228

Cash invested: $13,300 (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 82839

• Home prices YoY: -0.2%
• Active inventory: 22
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,475 medium
• Mortgage (P&I): −$249
• Tax est. 1.5%: −$59 /mo · $712/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $837

Break-even live

Break-even rent $416

Max offer price $47,500

Occupancy floor 38%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 Windsor Dr Unit C Ranchester, WY	2.0	1.0	798	$1,450	$1.82	21d	1	0.75mi
1405 Windsor Dr Unit B Ranchester, WY	2.0	1.0	808	$1,500	$1.86	21d	1	0.76mi

Listing history 8 events

1. 2026-06-19
   days on market $47,500 Active 11 DOM
2. 2026-06-18
   days on market $47,500 Active 10 DOM
3. 2026-06-17
   days on market $47,500 Active 9 DOM
4. 2026-06-16
   days on market $47,500 Active 8 DOM
5. 2026-06-15
   days on market $47,500 Active 7 DOM
6. 2026-06-14
   days on market $47,500 Active 5 DOM
7. 2026-06-12
   days on market $47,500 Active 4 DOM
8. 2026-06-09
   listed $47,500 Active 1 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 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,700
• − Mortgage interest: −$2,661
• − Property taxes: −$712
• − Insurance: −$238
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$1,382
• Taxable income: $9,876
• Est. tax owed @ 24.0%: −$2,370
• After-tax cash flow: $7,674/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 · 12 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minimal repairs needed. Painting the exterior and updating the kitchen and bathrooms would significantly increase its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Resale Replace countertops — Modernizes kitchen and adds value
• Resale Install new flooring in bathrooms — Improves aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Resale Replace countertops — Modernizes kitchen and adds value ↑
• Resale Install new flooring in bathrooms — Improves aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sheridan County School District #1
• NCES district ID: 5605690
• Math proficiency: 64% ▲ 1.00%
• Reading proficiency: 69% ▲ 1.00%
• Median HH income: $62,798
• Composite: 57.68/100
• National rank: #1059
• State rank: #2 of 41 in WY

Livability — Ranchester

• Score: 66/100
• State rank: #69
• US rank: #11341

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ranchester, WY
• Population (ZIP): 1,421

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 (95%)
• Race & ethnicity: White 95% Native American 2% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 4% Romanian 3% Slovak 2%
• Foreign-born: 0%

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: ▼ -0.29%
• Current HPI: 163.95
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-03 Listed $47,500 SBORWY