1511 Mydland Rd #185 · Sheridan, WY 82801

$54,000

3 bd · 2.0 ba · 980 sqft · SingleFamily · 42 Days on market

Built 1983 Fair condition $55/sqft · 11% below area Est $61k · 11% under ↓ 10% 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
• ARV discount +12.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

Key facts

• Built 1983
• Listed 41 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public sewer connected; Sewer connected
• Home design: Mobile home (residential)
• Construction: Membrane roof
• Exterior features: Fenced yard; Shed(s)

Interior

• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: No basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $54k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $54k).
• Recommended offer: $52k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.0% vs local median 2.4% in Sheridan — 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 79/100 on livability (#7 in WY, #2,337 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities C-, employment C-, commute F.
• Sheridan County School District #2 (town): math 68% / reading 72% proficiency, ranked #1 of 41 in WY (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 509 active listings in the ZIP; 309 units permitted in Sheridan County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $373 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sheridan County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $52,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.16% ✓
• Cap rate: 27.98%
• Cash-on-cash: 77.45%
• DSCR: 4.45
• GRM: 2.6

CMA / ARV

• ARV (median comp): $60,535
• List price: $54,000
• Delta: -10.79%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1445 North Heights Ln	0.46mi	2/1.0 (-1)	988 (+1%)	2mo	$308,000	$312	66
1686 North Heights Ave	0.28mi	2/1.0 (-1)	1,006 (+3%)	11mo	$279,500	$278	64
1703 Park Side Ct	0.57mi	2/1.0 (-1)	994 (+1%)	4mo	$329,000	$331	59
1636 N North Heights Way	0.43mi	3/1.0	1,080 (+10%)	8mo	$320,000	$296	52
1368 Highland Ave	0.57mi	2/1.5 (-1)	1,024 (+4%)	11mo	$224,900	$220	50
1378 Taylor Ave	0.72mi	3/1.0	904 (-8%)	1mo	$249,000	$275	48
1379 Yonkee Ave	0.69mi	2/1.0 (-1)	960 (-2%)	10mo	$339,500	$354	47
1331 Holmes Ave	0.66mi	2/1.0 (-1)	960 (-2%)	12mo	$317,000	$330	46
1429 Yonkee Ave	0.66mi	2/1.0 (-1)	960 (-2%)	14mo	$310,000	$323	45
1209 Park Dr	0.65mi	2/1.0 (-1)	960 (-2%)	20mo	$263,000	$274	41
1635 Taylor Ave	0.68mi	3/2.0	1,124 (+15%)	15mo	$250,000	$222	31
1625 Taylor Ave	0.69mi	3/2.0	1,124 (+15%)	18mo	$249,500	$222	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.5%
• Equity multiple: 4.53×
• Total profit: $53,433
• Equity at exit: $8,052

10-year hold

• IRR: 81.1%
• Equity multiple: 9.38×
• Total profit: $126,671
• Equity at exit: $4,669

Cash invested: $15,120 (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 82801

• Active inventory: 509
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$283
• Tax est. 1.5%: −$68 /mo · $810/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $976

Break-even live

Break-even rent $472

Max offer price $54,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,013	-5% $995	+0% $976	+5% $957	+10% $939
Rent	-10% $841	-5% $908	+0% $976	+5% $1,043	+10% $1,111
Rate	-1.0pp $1,003	-0.5pp $990	base $976	+0.5pp $962	+1.0pp $948

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: $13,500
• Closing costs: $1,620
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $54,000 Active 42 DOM
2. 2026-06-18
   days on market $54,000 Active 41 DOM
3. 2026-06-17
   days on market $54,000 Active 40 DOM
4. 2026-06-16
   days on market $54,000 Active 39 DOM
5. 2026-06-15
   days on market $54,000 Active 38 DOM
6. 2026-06-14
   days on market $54,000 Active 36 DOM
7. 2026-06-12
   pricedays on market $54,000 Active 35 DOM
8. 2026-06-09
   days on market $56,000 Active 32 DOM
9. 2026-06-08
   days on market $56,000 Active 31 DOM
10. 2026-06-07
    days on market $56,000 Active 30 DOM
11. 2026-06-05
    days on market $56,000 Active 28 DOM
12. 2026-06-03
    days on market $56,000 Active 26 DOM
13. 2026-06-02
    days on market $56,000 Active 25 DOM
14. 2026-06-01
    days on market $56,000 Active 24 DOM
15. 2026-05-31
    days on market $56,000 Active 23 DOM
16. 2026-05-30
    days on market $56,000 Active 22 DOM
17. 2026-05-07
    listed $60,000 Active 327-char remark
18. 2024-07-01
    soldstatus Closed 280-char remark

    Show marketing remark (280 chars)

    Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

19. 2024-06-11
    status Pending 280-char remark

    Show marketing remark (280 chars)

    Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

20. 2024-05-28
    status Active 280-char remark

    Show marketing remark (280 chars)

    Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

21. 2024-05-17
    historical Active Under Contract 280-char remark

    Show marketing remark (280 chars)

    Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

22. 2024-04-27
    listed $60,000 Active 280-char remark

    Show marketing remark (280 chars)

    Well taken care of mobile home, 3 Bedroom, 2 Bath located in West Park Village. New flooring, updated appliances & cupboards, mudroom, and central air. No real estate included in sale and perspective Buyer must be approved by West Park Village prior to closing 307-674-4503.

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,493
• − Mortgage interest: −$3,025
• − Property taxes: −$810
• − Insurance: −$270
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$1,571
• Taxable income: $11,538
• Est. tax owed @ 24.0%: −$2,769
• After-tax cash flow: $8,942/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The home is in fair condition with average interior and exterior. It requires moderate repairs and maintenance, and updates to the kitchen, flooring, and landscaping would significantly increase its value.

Repairs flagged

• Minor kitchen cabinets — existing cabinets
• Minor bathroom fixtures — existing fixtures
• Minor HVAC system — existing appliances
• Minor landscaping — fenced yard with storage shed

Value-add opportunities

• Resale new kitchen appliances — new appliances improve functionality
• Resale new flooring — new flooring enhances curb appeal
• Resale new paint — new paint improves curb appeal
• Both landscaping — landscaping enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinets	Minor	$500–3,000
bathroom fixtures · existing fixtures	Minor	$500–3,000
HVAC system · existing appliances	Minor	$500–3,000
landscaping · fenced yard with storage shed	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale new kitchen appliances — new appliances improve functionality ↑
• Resale new flooring — new flooring enhances curb appeal ↑
• Resale new paint — new paint improves curb appeal ↑
• Both landscaping — landscaping enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sheridan County School District #2
• NCES district ID: 5605695
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $50,902
• Composite: 59.44/100
• National rank: #923
• State rank: #1 of 41 in WY

Livability — Sheridan

• Score: 79/100
• State rank: #7
• US rank: #2337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheridan, WY
• County: Sheridan County · 26,310 people
• City population: 26,310
• Metro: Sheridan, WY
• Population (ZIP): 26,310
• Household income: $73,213
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 742.0

Population outlook (Sheridan County) Hauer SSP2

• Today (2025): 32,048 people
• By 2030: 32,834 · +2.5%
• By 2040: 33,843 · +5.6%
• By 2050: 34,744 · +8.4%
• By 2075: 37,231 · +16.2%
• By 2100: 37,261 · +16.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 4% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Sheridan

• 2024 margin: Solid R (+50.1) · D 24.2% · R 74.2% · Other 1.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -38.2pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+47.5 2016: R+51.7 2012: R+46.8 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.82%
• Current HPI: 190.3135
• Rent YoY: —
• Metro: Sheridan, WY
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

8 events — show timeline

• 2026-06-11 Price Changed $54,000 SBORWY
• 2026-05-20 Price Changed $56,000 SBORWY
• 2026-05-07 Listed $60,000 SBORWY
• 2024-07-01 Sold (MLS) — SBORWY
• 2024-06-11 Pending — SBORWY
• 2024-05-28 Relisted — SBORWY
• 2024-05-17 Contingent — SBORWY
• 2024-04-27 Listed $60,000 SBORWY