504 E 6th St

Encampment, WY 82325

$105,000C+

2 bd · 2.0 ba · 982 sqft · Built 1970 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $957/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $89/mo
• Annual: $1,066/yr
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• 1% rule: 0.91%
• Cash to close: $29,400

Investor read

• This is a 2-bed/2.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (8.8% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $96k (8.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#74 in WY) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, crime B+; Watch: employment D+, amenities F, commute 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.
• Market conditions: 13 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k 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

• Built in 1970 — 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.
• Schools are A-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.