706 Halbert St

Ranchester, WY 82839

$47,500B+

3 bd · 2.0 ba · 1,120 sqft · Built 1974 · Manufactured · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,475/mo
• Mortgage (P&I): −$249
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $837/mo
• Annual: $10,044/yr
• Cap rate: 27.44%
• Cash-on-cash: 75.52%
• DSCR: 4.36
• 1% rule: 3.11%
• Cash to close: $13,300

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $48k. Condition is rated good.
• 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).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $191 of equity ($328 loan paydown + $-137 appreciation (-0.3% local appreciation)).
• 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.
• Zoned schools: Tongue River Elementary (math 67% / reading 62%, grade B, #28 of 151 statewide, top 19%, 230 students, 39% FRL); Tongue River Middle School (math 62% / reading 72%, grade A-, #8 of 55 statewide, top 13%, 159 students, 23% FRL); Tongue River High School (math 57% / reading 67%, grade B-, #8 of 75 statewide, top 11%, 258 students, 21% FRL).
• 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).
• 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.