7537 Reese Rd Unit B · Ranchettes, WY 82009

$119,900

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 200 Days on market

Built 2025 6,534 sqft lot ↓ 4% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Open floor plan
• Ceramic tile shower
• Garden tub

Tags

• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• BLACK PAINTED MAPLE CABINETS
• CERAMIC TILE SHOWER
• GARDEN TUB
• WIRED FOR WASHER AND DRYER

🏗️ New construction. The $119,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $102,600.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 1.4% in Ranchettes — 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.

Location & tenants

• Location reads 63/100 on livability (#96 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Laramie County School District #1 (urban): math 41% / reading 48% proficiency, ranked #33 of 41 in WY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.7%/yr); 538 active listings in the ZIP; solid renter incomes; 485 units permitted in Laramie County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $709 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Laramie County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 16.14%
• Cash-on-cash: 35.17%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $102,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7537 Reese Rd #12	0.02mi	3/2.0	1,216 (+7%)	4mo	$109,000	$90	84

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 2.56×
• Total profit: $44,675
• Equity at exit: $15,298

10-year hold

• IRR: 43.7%
• Equity multiple: 5.94×
• Total profit: $141,950
• Equity at exit: $8,871

Cash invested: $28,728 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Wyoming: 90 Strongly Landlord-Friendly · R+25
• County: — inherits STATE
• City: — inherits STATE

3-day notice; strongly landlord-favorable; small market.

Methodology + full state rankings →

ZIP-level market 82009

• Rents YoY: 6.7%
• Active inventory: 538
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$538
• Tax est. 1.5%: −$128 /mo · $1,539/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $842

Break-even live

Break-even rent $898

Max offer price $102,600

Occupancy floor 52%

Sensitivity live

Price	-10% $913	-5% $877	+0% $842	+5% $807	+10% $771
Rent	-10% $687	-5% $764	+0% $842	+5% $920	+10% $997
Rate	-1.0pp $894	-0.5pp $868	base $842	+0.5pp $815	+1.0pp $788

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,650
• Closing costs: $3,078
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-20
   status Pending
2. 2025-11-23
   price $119,900
3. 2025-09-15
   status Active
4. 2025-09-15
   status Pending
5. 2025-08-15
   listed $125,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 6 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,560
• − Mortgage interest: −$5,747
• − Property taxes: −$1,539
• − Insurance: −$513
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − Depreciation: −$2,985
• Taxable income: $9,007
• Est. tax owed @ 24.0%: −$2,162
• After-tax cash flow: $7,942/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Laramie County School District #1
• NCES district ID: 5601980
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $56,842
• Composite: 38.86/100
• National rank: #4103
• State rank: #33 of 41 in WY

Livability — Ranchettes

• Score: 63/100
• State rank: #96
• US rank: #15807

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Laramie County · 94,953 people
• Metro: Cheyenne, WY
• Population (ZIP): 35,081
• Household income: $103,835
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 608.0

Population outlook (Laramie County) Hauer SSP2

• Today (2025): 109,698 people
• By 2030: 115,710 · +5.5%
• By 2040: 127,191 · +15.9%
• By 2050: 138,476 · +26.2%
• By 2075: 168,653 · +53.7%
• By 2100: 188,739 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 6% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 3% Slovak 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Laramie

• 2024 margin: Solid R (+32.4) · D 33.0% · R 65.4% · Other 1.6%
• 2008→2024 swing: -12.1pp toward R · 2008: -20.4pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.2 2016: R+33.2 2012: R+24.8 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -339.39%
• Current HPI: 266.7583
• Rent YoY: ▲ 6.73%
• Metro: Cheyenne, WY
• State GDP YoY: —
• F500 in state: 0

Price history

-4.1% since first listed

5 events — show timeline

• 2026-03-20 Pending — CBR
• 2025-11-23 Price Changed $119,900 CBR
• 2025-09-15 Relisted — CBR
• 2025-09-15 Pending — CBR
• 2025-08-15 Listed $125,000 CBR