1407 Eagles Nest Cir

Gillette, WY 82716

$197,000B

4 bd · 2.0 ba · 1,680 sqft · Built 1981 · MultiFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,210/mo
• Mortgage (P&I): −$1,033
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$674
• Net cashflow: $1,307/mo
• Annual: $15,679/yr
• Cap rate: 14.25%
• Cash-on-cash: 28.42%
• DSCR: 2.26
• 1% rule: 1.63%
• Cash to close: $55,160

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $197k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $197k).
• It's been on market 46 days — a 3% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#1 in WY, #820 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Campbell County School District #1 (town): math 45% / reading 47% proficiency, ranked #30 of 41 in WY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillcrest Elementary (math 37% / reading 42%, grade F, #118 of 151 statewide, top 84%, 416 students, 64% FRL); Twin Spruce Junior High School (math 40% / reading 47%, grade D, #45 of 55 statewide, top 81%, 664 students, 47% FRL); Campbell County High School (math 36% / reading 41%, grade F, #55 of 75 statewide, top 73%, 1,187 students, 39% FRL) — zoned schools average 50% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP; 32 units permitted in Campbell County in 2024 (0 in 5+ unit buildings).
• Campbell County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• At $3,210/mo this rent would consume 53% of the median local household income ($73k/yr) (locally 380% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.