302 S Main St. St

Pavillion, WY 82523

$113,999C-

3 bd · 2.0 ba · 1,216 sqft · Built 1997 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,175/mo
• Mortgage (P&I): −$598
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $141/mo
• Annual: $1,686/yr
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $31,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $114k.
• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• It's been on market 20 days — a 2% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($788 loan paydown + $3k appreciation (2.9% local appreciation)).
• Location reads 65/100 on livability (#86 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: employment D, amenities F, commute F.
• Fremont County School District # 6 (rural): math 41% / reading 49% proficiency, ranked #34 of 41 in WY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 22 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).
• Fremont County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 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.