428 Thayer Cir · Evanston, WY 82930

$219,000

3 bd · 1.0 ba · 1,464 sqft · MultiFamily public records · 41 Days on market

Built 1982 5,663 sqft lot

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Why this score? — see what drove the C+ 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 +22.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.8/10.0
• 1% rule +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Why rent when you can buy this immaculate home? New flooring and paint through out. New garage door, Newer furnace, water heater, and windows. Fenced yard in a quiet cul-de-sac Call Tonya Dennis for your personal tour 307-679-9979

Key facts

• Updated windows
• Natural light
• Updated kitchen

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• EXTRA PANTRY CABINET
• NATURAL LIGHT
• UPDATED FLOORING
• UPDATED WINDOWS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential; Vinyl siding; Asphalt roof
• Construction: Vinyl siding construction; Asphalt roof
• Exterior features: Cul-de-sac lot

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Oven
• Flooring: Carpet; Tile; Vinyl
• Heating & cooling: Forced air heating
• Interior features: Partial basement; Deck; Chain link fencing
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/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 $213k (2.9% below list).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.0% in Evanston — 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 61/100 on livability (#112 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Uinta County School District #1 (town): math 54% / reading 57% proficiency, ranked #17 of 41 in WY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 114 active listings in the ZIP; 50 units permitted in Uinta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Uinta County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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 $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 3.33×
• Total profit: $142,724
• Equity at exit: $197,293

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $401,601
• Equity at exit: $425,469

Cash invested: $61,320 (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 82930

• Home prices YoY: 4.4%
• Active inventory: 114
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $370

Break-even live

Break-even rent $1,659

Max offer price $219,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,126
Total (2 units)			$2,127

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-08
   status Pending
2. 2026-04-23
   price $219,000
3. 2026-03-26
   listed $225,000 Active
4. 2023-05-09
   soldstatus
5. 2023-05-08
   soldstatus
6. 2023-03-23
   listed $165,000
7. 2021-10-13
   soldstatus 232-char remark

   Show marketing remark (232 chars)

   Why rent when you can buy this immaculate home? New flooring and paint through out. New garage door, Newer furnace, water heater, and windows. Fenced yard in a quiet cul-de-sac Call Tonya Dennis for your personal tour 307-679-9979

8. 2021-08-13
   listed $150,000 232-char remark

   Show marketing remark (232 chars)

   Why rent when you can buy this immaculate home? New flooring and paint through out. New garage door, Newer furnace, water heater, and windows. Fenced yard in a quiet cul-de-sac Call Tonya Dennis for your personal tour 307-679-9979

9. 2008-09-30
   soldstatus
10. 2003-10-27
    soldstatus
11. 1994-04-05
    soldstatus

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

Tax reassessment forecast WY · Resets to sale price

• Current annual tax: $852 · $71/mo
• Projected year-2 tax: $1,336 · $111/mo
• Expected delta: +$484/yr (+$40/mo · 56.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,524
• − Mortgage interest: −$12,267
• − Property taxes: −$852
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$6,371
• Taxable income: $855
• Est. tax owed @ 24.0%: −$205
• After-tax cash flow: $4,231/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: Uinta County School District #1
• NCES district ID: 5602760
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 57% ▲ 2.00%
• Median HH income: $53,206
• Composite: 47.65/100
• National rank: #2247
• State rank: #17 of 41 in WY

Livability — Evanston

• Score: 61/100
• State rank: #112
• US rank: #17873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, WY
• Population (ZIP): 14,836

Population outlook (Uinta County) Hauer SSP2

• Today (2025): 19,871 people
• By 2030: 19,106 · -3.8%
• By 2040: 17,394 · -12.5%
• By 2050: 15,715 · -20.9%
• By 2075: 12,193 · -38.6%
• By 2100: 9,429 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 8% Italian 4% Scottish 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Uinta

• 2024 margin: Solid R (+63.7) · D 17.4% · R 81.1% · Other 1.6%
• 2008→2024 swing: -22.6pp toward R · 2008: -41.1pp · 2024: -63.7pp
• All cycles: 2024: R+63.7 2020: R+62.8 2016: R+61.5 2012: R+59.0 2008: R+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.96%
• Current HPI: 401.04
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+46.0% since first listed

11 events — show timeline

• 2026-05-08 Pending — WMLS
• 2026-04-23 Price Changed $219,000 WMLS
• 2026-03-26 Listed $225,000 WMLS
• 2023-05-09 Sold (Public Records) — Public Records
• 2023-05-08 Sold (MLS) — WMLS
• 2023-03-23 Listed $165,000 WMLS
• 2021-10-13 Sold (MLS) — WMLS
• 2021-08-13 Listed $150,000 WMLS
• 2008-09-30 Sold (Public Records) — Public Records
• 2003-10-27 Sold (Public Records) — Public Records
• 1994-04-05 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $852 · -22.5% YoY. Source: county tax records.