44 12th St

Marbleton, WY 83113

$42,500B+

2 bd · 2.0 ba · 1,216 sqft · Built 1974 · Manufactured · Active · 433 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,058/mo
• Mortgage (P&I): −$223
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $542/mo
• Annual: $6,503/yr
• Cap rate: 21.60%
• Cash-on-cash: 54.65%
• DSCR: 3.43
• 1% rule: 2.49%
• Cash to close: $11,900

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $42k. Condition is rated fair.
• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• It's been on market 433 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($294 loan paydown + $1k appreciation (2.6% local appreciation)).
• Location reads 74/100 on livability (#17 in WY, #4,584 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Sublette County School District #9 (rural): math 50% / reading 51% proficiency, ranked #22 of 41 in WY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 31 active listings in the ZIP; 97 units permitted in Sublette County in 2024 (0 in 5+ unit buildings).
• Sublette County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $26k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 433 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1974 — 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.
• Schools are F-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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — dated and in poor condition
• Minor: bathroom fixtures — basic and functional
• Moderate: flooring — low pile and some wear
• Major: exterior siding — rusty and exposed