3079 Yellow Creek Rd

Evanston, WY 82930

$89,000B

3 bd · 2.0 ba · 1,502 sqft · Built 1983 · Manufactured · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,448/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$148
• HOA: −$350
• Vac / Maint / Mgmt: −$304
• Net cashflow: $179/mo
• Annual: $2,151/yr
• Cap rate: 8.71%
• Cash-on-cash: 8.63%
• DSCR: 1.38
• 1% rule: 1.63%
• Cash to close: $24,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $89k. Condition is rated fair.
• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#112 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Uinta County School District #1 (town): math 54% / reading 57% proficiency, ranked #17 of 41 in WY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 24% of rent.
• Market conditions: 114 active listings in the ZIP; 50 units permitted in Uinta County in 2024 (0 in 5+ unit buildings).
• Uinta County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 8y 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 (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.7% vs local median 3.0% in Evanston — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: wooden cabinets — slight wear
• Minor: wooden floors — slight wear
• Minor: interior walls/paint — some discoloration