808 Kit Carson Dr

Green River, WY 82935

$50,000B

3 bd · 2.0 ba · 1,280 sqft · Built 1979 · Other · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,139/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $554/mo
• Annual: $6,649/yr
• Cap rate: 19.59%
• Cash-on-cash: 47.49%
• DSCR: 3.11
• 1% rule: 2.28%
• Cash to close: $14,000

Investor read

• This is a 3-bed/2.0-bath other listed at $50k. Condition is rated poor.
• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#19 in WY, #4,785 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Sweetwater County School District #2 (town): math 62% / reading 61% proficiency, ranked #6 of 41 in WY (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 75 active listings in the ZIP; 47 units permitted in Sweetwater County in 2024 (0 in 5+ unit buildings).
• Sweetwater County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.6% vs local median 2.9% in Green River — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1979 — 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 A-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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image suggests significant damage.
• Major: siding — The siding is visibly peeling and in poor condition.
• Major: paint — The paint is faded and peeling, indicating poor condition.
• Major: interior walls — No interior walls are visible, but the exterior suggests extensive wear and tear.
• Major: flooring — No flooring is visible, but the overall condition suggests it may be in poor shape as well.
• Major: systems — No systems are visible, but the overall condition suggests they may be in poor shape as well.