420 Airport Rd #44 · Sheridan, WY 82801

$12,000

2 bd · 1.0 ba · 720 sqft · Manufactured · 29 Days on market

Built 1970 $17/sqft · 76% below area ↓ 14% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Personal property only. A 1970 12 ft. x60 ft. Shalo mobile home in Sunset Terrace Park. Great location in a sought after neighborhood. Call for your personal showing today. Buyers must be approved by park managers. Lot rent is $200 per month which includes water, sewer and garbage.

Key facts

• Built 1970
• Listed 29 days

Tags

• ROOF LESS THAN 5 YEARS OLD
• FURNACE LESS THAN 5 YEARS OLD

Property features AI

Exterior

• Utilities: Public sewer (sewer connected)
• Home design: Residential mobile home
• Construction: Mobile home construction
• Exterior features: Asphalt roof

Interior

• Interior features: Window air conditioning units; Natural gas heating; Forced air heating

🏷️ Possibly a rental listed for sale. The $12,000 price doesn't fit this home's estimated sale value (~$49,580) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $12k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $12k (1.5% below list) — sets the bar for market timing.
• Cap rate 114.8% 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 $83 of loan paydown is wiped out by about $360 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $2k (17%) 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 $11,820 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 12.32% ✓
• Cap rate: 114.77%
• Cash-on-cash: 387.41%
• DSCR: 18.24
• GRM: 0.7

CMA / ARV

• ARV (median comp): $49,580
• List price: $12,000
• Delta: -75.80%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 Airport Rd #44	0.00mi	2/1.0	720 (0%)	0mo	$12,000	$17	100
420 Airport Rd #12	0.00mi	2/1.0	728 (+1%)	22mo	$40,000	$55	80

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: —
• Equity multiple: 20.99×
• Total profit: $67,167
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 44.91×
• Total profit: $147,542
• Equity at exit: $1,038

Cash invested: $3,360 (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: 0.7×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$63
• Tax est. 1.5%: −$15 /mo · $180/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $1,085

Break-even live

Break-even rent $105

Max offer price $12,000

Occupancy floor 22%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-03
   status $12,000 Pending 29 DOM
2. 2026-06-02
   days on market $12,000 Active 29 DOM
3. 2026-06-01
   days on market $12,000 Active 28 DOM
4. 2026-05-31
   days on market $12,000 Active 27 DOM
5. 2026-05-30
   days on market $12,000 Active 26 DOM
6. 2026-05-03
   listed $14,500 Active 197-char remark
7. 2009-09-30
   soldstatus 282-char remark

   Show marketing remark (282 chars)

   Personal property only. A 1970 12 ft. x60 ft. Shalo mobile home in Sunset Terrace Park. Great location in a sought after neighborhood. Call for your personal showing today. Buyers must be approved by park managers. Lot rent is $200 per month which includes water, sewer and garbage.

8. 2009-05-26
   listed $14,000 282-char remark

   Show marketing remark (282 chars)

   Personal property only. A 1970 12 ft. x60 ft. Shalo mobile home in Sunset Terrace Park. Great location in a sought after neighborhood. Call for your personal showing today. Buyers must be approved by park managers. Lot rent is $200 per month which includes water, sewer and garbage.

ⓘ 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 ≥92°F today · 16 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: $17,737
• − Mortgage interest: −$672
• − Property taxes: −$180
• − Insurance: −$60
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$349
• Taxable income: $13,638
• Est. tax owed @ 24.0%: −$3,273
• After-tax cash flow: $9,744/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: 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

-14.3% since first listed

6 events — show timeline

• 2026-06-08 Sold (MLS) — SBORWY
• 2026-06-02 Pending — SBORWY
• 2026-05-27 Price Changed $12,000 SBORWY
• 2026-05-03 Listed $14,500 SBORWY
• 2009-09-30 Sold (MLS) — SBORWY
• 2009-05-26 Listed $14,000 SBORWY