264 N Railroad St

Laramie, WY 82072

$139,900C-

1 bd · 1.0 ba · 720 sqft · Built 1900 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $26/mo
• Annual: $317/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• 1% rule: 0.79%
• Cash to close: $39,172

Investor read

• This is a 1-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $26 ($317/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 $110k (21.2% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (21.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#23 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, amenities A-; Watch: employment D+, commute F.
• Albany County School District #1 (town): math 51% / reading 59% proficiency, ranked #19 of 41 in WY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Velma Linford Elementary (math 47% / reading 47%, grade D-, #99 of 151 statewide, top 67%, 258 students, 44% FRL); Laramie Middle School (math 51% / reading 58%, grade B-, #26 of 55 statewide, top 50%, 676 students, 25% FRL); Laramie High School (math 46% / reading 62%, grade C-, #24 of 75 statewide, top 35%, 1,095 students, 16% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.3%/yr); 91 active listings in the ZIP; 99 units permitted in Albany County in 2024 (0 in 5+ unit buildings).
• Albany County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 2.2% in Laramie — 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

• Built in 1900 — 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 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.