1601 E F #39 St

Torrington, WY 82240

$50,000B

2 bd · 2.0 ba · 924 sqft · Built 1995 · Other · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $861/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$36
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $382/mo
• Annual: $4,584/yr
• Cap rate: 15.46%
• Cash-on-cash: 32.74%
• DSCR: 2.46
• 1% rule: 1.72%
• Cash to close: $14,000

Investor read

• This is a 2-bed/2.0-bath other listed at $50k.
• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $50k).
• It's been on market 103 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#66 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• Goshen County School District #1 (town): math 45% / reading 57% proficiency, ranked #28 of 41 in WY (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Elementary (263 students, 47% FRL); Torrington Middle School (math 42% / reading 54%, grade C-, #37 of 55 statewide, top 67%, 272 students, 46% FRL); Torrington High School (math 37% / reading 52%, grade F, #40 of 75 statewide, top 58%, 305 students, 43% FRL).
• Market conditions: 93 active listings in the ZIP; 3 units permitted in Goshen County in 2024 (0 in 5+ unit buildings).
• Goshen County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 26 sale attempts since 11y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.5% vs local median 3.7% in Torrington — 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.
• This rent is only 17% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.