2929 E 3rd St · Casper, WY 82609

$240,000

3 bd · 1.0 ba · 1,749 sqft · SingleFamily public records · 16 Days on market

Built 1953 8,276 sqft lot $137/sqft · at area comps Est $283k · 15% under

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Why this score? — see what drove the D 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 +14.4/15.0
• Cash flow +9.0/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Warm hues and light-filled spaces illuminate this mid-century ranch located in East Casper. The upstairs is light and bright throughout and features 3 bedrooms, a combination living and dining room, updated bathroom and kitchen, and patio door that leads to the alley accessible backyard. The basement includes a large living room area to relax or enjoy game night in, a non-conforming bedroom, and spacious laundry area. The garage is heated and features a bump out extension, and private home entrance. This home is just minutes away from shopping centers, parks, and restaurants. Call Autumn today for your private home tour, 307-277-2967.

Key facts

• Newer furnace
• Newer roof
• Large lot

Tags

• RANCH STYLE HOME
• LARGE LOT
• NEWER ELECTRICAL SERVICE
• NEWER ROOF
• NEWER FURNACE
• BASEMENT READY TO FINISH

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 1 garage space
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; Residential property
• Construction: Wood siding
• Exterior features: Patio; Wood fencing

Interior

• Kitchen: Dishwasher; Oven
• Flooring: Laminate; Tile; Vinyl
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Oven
• Laundry & utility: Laundry located in basement; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (33.4% below list).
• Recommended offer: $160k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.0% in Casper — 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 78/100 on livability (#8 in WY, #2,629 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, health & safety 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: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 310 units permitted in Natrona 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 $7k of value loss. Plan a longer hold.
• Natrona County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,890 (33.4% 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. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.67% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.40%
• DSCR: 0.85
• GRM: 12.5

CMA / ARV

• ARV (median comp): $283,206
• List price: $240,000
• Delta: -15.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Swanton Ave	0.15mi	3/2.0	1,920 (+10%)	4mo	$258,000	$134	69
3520 Washakie St	0.40mi	4/2.0 (+1)	1,782 (+2%)	0mo	$315,000	$177	69
235 S Sinclair Pl	0.21mi	3/1.0	1,977 (+13%)	0mo	$300,000	$152	68
900 S Forest Dr	0.40mi	4/2.0 (+1)	1,820 (+4%)	1mo	$324,900	$179	65
540 S Forest Dr	0.38mi	4/2.0 (+1)	1,632 (-7%)	0mo	$300,000	$184	62
1221 Hazelwood Dr	0.56mi	3/1.8	1,824 (+4%)	3mo	$310,000	$170	61
1381 Kingsbury	0.71mi	3/1.8	1,732 (-1%)	2mo	$355,000	$205	60
2854 E 12th St	0.48mi	2/1.0 (-1)	1,830 (+5%)	6mo	$140,000	$77	60
2414 E 9th St	0.45mi	2/1.0 (-1)	1,611 (-8%)	6mo	$148,000	$92	56
1321 Jamaica Dr	0.65mi	3/2.0	1,680 (-4%)	4mo	$302,000	$180	55
377 N Minnesota Ave	0.51mi	4/1.5 (+1)	1,536 (-12%)	4mo	$245,000	$160	46
3921 Swanton Ave	0.72mi	4/2.2 (+1)	1,990 (+14%)	1mo	$220,000	$111	33

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.23×
• Total profit: $-51,822
• Equity at exit: $35,785

10-year hold

• IRR: -17.8%
• Equity multiple: 0.05×
• Total profit: $-64,019
• Equity at exit: $20,751

Cash invested: $67,200 (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 82609

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,599 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$95 /mo · $1,139/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-190

Break-even live

Break-even rent $1,840

Max offer price $206,370

Occupancy floor —

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-01
   status $240,000 Pending 16 DOM
2. 2026-05-31
   days on market $240,000 Active 16 DOM
3. 2026-05-30
   days on market $240,000 Active 15 DOM
4. 2026-05-15
   listed $240,000 Active 397-char remark
5. 2021-11-15
   soldstatus
6. 2021-11-12
   soldstatus 642-char remark

   Show marketing remark (642 chars)

   Warm hues and light-filled spaces illuminate this mid-century ranch located in East Casper. The upstairs is light and bright throughout and features 3 bedrooms, a combination living and dining room, updated bathroom and kitchen, and patio door that leads to the alley accessible backyard. The basement includes a large living room area to relax or enjoy game night in, a non-conforming bedroom, and spacious laundry area. The garage is heated and features a bump out extension, and private home entrance. This home is just minutes away from shopping centers, parks, and restaurants. Call Autumn today for your private home tour, 307-277-2967.

7. 2021-08-19
   listed $205,000 642-char remark

   Show marketing remark (642 chars)

   Warm hues and light-filled spaces illuminate this mid-century ranch located in East Casper. The upstairs is light and bright throughout and features 3 bedrooms, a combination living and dining room, updated bathroom and kitchen, and patio door that leads to the alley accessible backyard. The basement includes a large living room area to relax or enjoy game night in, a non-conforming bedroom, and spacious laundry area. The garage is heated and features a bump out extension, and private home entrance. This home is just minutes away from shopping centers, parks, and restaurants. Call Autumn today for your private home tour, 307-277-2967.

8. 2008-05-06
   soldstatus

ⓘ 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: $1,139 · $95/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$325/yr (+$27/mo · 28.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 6 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,187
• − Mortgage interest: −$13,444
• − Property taxes: −$1,139
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − Depreciation: −$6,982
• Taxable loss: −$6,648
• Est. tax savings @ 24.0%: +$1,595
• After-tax cash flow: $-689/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: Natrona County School District #1
• NCES district ID: 5604510
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $55,217
• Composite: 41.6/100
• National rank: #3437
• State rank: #32 of 41 in WY

Livability — Casper

• Score: 78/100
• State rank: #8
• US rank: #2629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Casper, WY
• County: Natrona County · 72,922 people
• City population: 72,922
• Metro: Casper, WY
• Population (ZIP): 18,714
• Household income: $71,010
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 457.0

Population outlook (Natrona County) Hauer SSP2

• Today (2025): 98,530 people
• By 2030: 107,084 · +8.7%
• By 2040: 124,838 · +26.7%
• By 2050: 143,617 · +45.8%
• By 2075: 192,378 · +95.2%
• By 2100: 228,435 · +131.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Portuguese 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Natrona

• 2024 margin: Solid R (+48.6) · D 24.8% · R 73.5% · Other 1.7%
• 2008→2024 swing: -14.3pp toward R · 2008: -34.4pp · 2024: -48.6pp
• All cycles: 2024: R+48.6 2020: R+47.6 2016: R+52.2 2012: R+41.1 2008: R+34.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -198.28%
• Current HPI: 172.1146
• Rent YoY: ▲ 2.56%
• Metro: Casper, WY
• State GDP YoY: —
• F500 in state: 0

Price history

+17.1% since first listed

6 events — show timeline

• 2026-06-01 Pending — WMLS
• 2026-05-15 Listed $240,000 WMLS
• 2021-11-15 Sold (Public Records) — Public Records
• 2021-11-12 Sold (MLS) — WMLS
• 2021-08-19 Listed $205,000 WMLS
• 2008-05-06 Sold (Public Records) — Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,139 · -23.4% YoY. Source: county tax records.