923 Mountain View Dr

Gillette, WY 82716

$199,000D

3 bd · 3.0 ba · 1,656 sqft · Built 1977 · Townhouse · Active · 208 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,372/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $-117/mo
• Annual: $-1,400/yr
• Cap rate: 5.59%
• Cash-on-cash: -2.51%
• DSCR: 0.89
• 1% rule: 0.69%
• Cash to close: $55,720

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $199k.
• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (31.1% below list).
• It's been on market 208 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (31.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#1 in WY, #820 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Campbell County School District #1 (town): math 45% / reading 47% proficiency, ranked #30 of 41 in WY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wagonwheel Elementary (math 62% / reading 52%, grade C+, #54 of 151 statewide, top 39%, 258 students, 45% FRL); Twin Spruce Junior High School (math 40% / reading 47%, grade D, #45 of 55 statewide, top 81%, 664 students, 47% FRL); Campbell County High School (math 36% / reading 41%, grade F, #55 of 75 statewide, top 73%, 1,187 students, 39% FRL) — zoned schools average 44% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 82 active listings in the ZIP; 32 units permitted in Campbell County in 2024 (0 in 5+ unit buildings).
• Campbell County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 208 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.