405 Utah St

Medicine Bow, WY 82639

$77,777B-

2 bd · 3.0 ba · 968 sqft · Built 1920 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,051/mo
• Mortgage (P&I): −$408
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $370/mo
• Annual: $4,438/yr
• Cap rate: 12.00%
• Cash-on-cash: 20.38%
• DSCR: 1.91
• 1% rule: 1.35%
• Cash to close: $21,778

Investor read

• This is a 2-bed/3.0-bath single-family listed at $78k.
• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($538 loan paydown + $3k appreciation (3.3% local appreciation)).
• Location reads 59/100 on livability (#127 in WY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Carbon County School District #2 (rural): math 48% / reading 57% proficiency, ranked #21 of 41 in WY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Saratoga Elementary (math 42% / reading 57%, grade D, #87 of 151 statewide, top 64%, 187 students, 26% FRL); Saratoga Middle/High School (math 52% / reading 62%, grade C, #16 of 75 statewide, top 22%, 135 students, 18% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 40 units permitted in Carbon County in 2024 (0 in 5+ unit buildings).
• Carbon County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y 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.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.