4901 Lathrop #105 Rd

Evansville, WY 82636

$90,000B-

3 bd · 2.0 ba · 1,216 sqft · Built 2025 · Other · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,228/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $348/mo
• Annual: $4,173/yr
• Cap rate: 10.93%
• Cash-on-cash: 16.56%
• DSCR: 1.74
• 1% rule: 1.36%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath other listed at $90k.
• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#51 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute 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.
• Market conditions: 45 active listings in the ZIP; 310 units permitted in Natrona County in 2024 (104 in 5+ unit buildings).
• Natrona County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 19 sale attempts since 4y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.