1808 Gregg Ave · Worland, WY 82401

$83,460

4 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 9 Days on market

Built 1973 6,534 sqft lot $46/sqft · 69% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect for investors or DIY enthusiasts, 1808 Gregg is a spacious 4-bedroom, 2-bathroom home that is gutted and ready for a transformation. With the heavy lifting of demolition already done, this property is a true "blank canvas" waiting for your design. Property Highlights Four Bedrooms: Ample space for a growing family or home office. Two Full Baths: A versatile layout that offers great resale value. Attached Garage: Includes a convenient 1-car garage for parking or storage. Renovation Ready: Already gutted, saving you time and disposal costs.

Key facts

• Blank canvas
• Renovation ready
• 6,534 sq ft lot

Tags

• RENOVATION READY
• BLANK CANVAS

Property features AI

Exterior

• Parking: Attached 1-car garage
• Home design: Single-family residence; Residential property; Located in the Evert Addn subdivision; Zoned Low Density Residential (LDR)
• Construction: Frame construction; Composition/shingle roof; Built area above grade: 900
• Exterior features: Chain link fencing; Fenced yard; Level lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No permanent heating system
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Cap rate 13.3% vs local median 3.1% in Worland — 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 74/100 on livability (#16 in WY, #4,423 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Washakie County School District #1 (town): math 59% / reading 64% proficiency, ranked #10 of 41 in WY (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 65 active listings in the ZIP; 5 units permitted in Washakie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $577 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washakie County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

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

Recommended offer $83,460

Questions for the listing agent

1. Built in 1973 — 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. 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.
5. 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.
6. 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: 1.58% ✓
• Cap rate: 13.33%
• Cash-on-cash: 25.13%
• DSCR: 2.12
• GRM: 5.3

CMA / ARV

• ARV (median comp): $265,702
• List price: $83,460
• Delta: -68.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2007 Harkins Ave	0.11mi	4/2.5	1,856 (+3%)	6mo	$310,000	$167	83
316 S 23rd St	0.26mi	4/2.0	1,920 (+7%)	5mo	$299,000	$156	73
1908 Gregg Ave	0.05mi	4/2.5	2,040 (+13%)	10mo	$285,000	$140	66
736 S 13th St	0.56mi	4/1.5	1,780 (-1%)	8mo	$175,000	$98	64
722 S 13th St	0.53mi	3/2.0 (-1)	1,712 (-5%)	1mo	$299,500	$175	62
1824 Crimson St	0.61mi	3/1.8 (-1)	1,758 (-2%)	2mo	$325,000	$185	60
817 S 16th St	0.52mi	3/2.0 (-1)	1,632 (-9%)	2mo	$155,000	$95	54
1509 Grace Ave	0.21mi	3/1.8 (-1)	2,046 (+14%)	12mo	$275,000	$134	51
1100 Grace Ave	0.52mi	3/2.0 (-1)	2,016 (+12%)	1mo	$274,000	$136	50
728 S 13th St	0.54mi	3/2.0 (-1)	1,604 (-11%)	3mo	$239,500	$149	49
817 S 11th St	0.68mi	3/1.0 (-1)	1,543 (-14%)	1mo	$185,000	$120	34
1913 Cardinal St	0.75mi	3/2.0 (-1)	1,547 (-14%)	9mo	$235,000	$152	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: 18.6%
• Equity multiple: 1.76×
• Total profit: $17,655
• Equity at exit: $12,444

10-year hold

• IRR: 27.0%
• Equity multiple: 3.38×
• Total profit: $55,537
• Equity at exit: $7,216

Cash invested: $23,369 (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 82401

• Active inventory: 65
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$438
• Tax from tax record: −$81 /mo · $966/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $489

Break-even live

Break-even rent $700

Max offer price $83,460

Occupancy floor 58%

Sensitivity live

Price	-10% $537	-5% $513	+0% $489	+5% $466	+10% $442
Rent	-10% $385	-5% $437	+0% $489	+5% $542	+10% $594
Rate	-1.0pp $531	-0.5pp $511	base $489	+0.5pp $468	+1.0pp $446

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: $20,865
• Closing costs: $2,504
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   listed $83,460 Active 560-char remark

   Show marketing remark (563 chars)

   Perfect for investors or DIY enthusiasts, 1808 Gregg is a spacious 4-bedroom, 2-bathroom home that is gutted and ready for a transformation. With the heavy lifting of demolition already done, this property is a true "blank canvas" waiting for your design. Property Highlights Four Bedrooms: Ample space for a growing family or home office. Two Full Baths: A versatile layout that offers great resale value. Attached Garage: Includes a convenient 1-car garage for parking or storage. Renovation Ready: Already gutted, saving you time and disposal costs.

2. 2026-05-11
   listed $83,460 Active 563-char remark

   Show marketing remark (563 chars)

   Perfect for investors or DIY enthusiasts, 1808 Gregg is a spacious 4-bedroom, 2-bathroom home that is gutted and ready for a transformation. With the heavy lifting of demolition already done, this property is a true "blank canvas" waiting for your design. Property Highlights Four Bedrooms: Ample space for a growing family or home office. Two Full Baths: A versatile layout that offers great resale value. Attached Garage: Includes a convenient 1-car garage for parking or storage. Renovation Ready: Already gutted, saving you time and disposal costs.

3. 1988-12-21
   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: $966 · $81/mo
• Projected year-2 tax: $966 · $81/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,834
• − Mortgage interest: −$4,675
• − Property taxes: −$966
• − Insurance: −$417
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$2,428
• Taxable income: $4,814
• Est. tax owed @ 24.0%: −$1,155
• After-tax cash flow: $4,718/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: Washakie County School District #1
• NCES district ID: 5606240
• Math proficiency: 59% ▼ -5.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $48,118
• Composite: 52.13/100
• National rank: #1617
• State rank: #10 of 41 in WY

Livability — Worland

• Score: 74/100
• State rank: #16
• US rank: #4423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worland, WY
• Population (ZIP): 7,053

Population outlook (Washakie County) Hauer SSP2

• Today (2025): 7,947 people
• By 2030: 7,658 · -3.6%
• By 2040: 6,969 · -12.3%
• By 2050: 6,237 · -21.5%
• By 2075: 4,611 · -42.0%
• By 2100: 2,994 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 15% Two or more races 15%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 5% Iranian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Washakie

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.4% · Other 1.6%
• 2008→2024 swing: -17.5pp toward R · 2008: -46.8pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+64.7 2016: R+64.0 2012: R+56.7 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.46%
• Current HPI: 186.0211
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) — NWBOR
• 2026-06-12 Sold (MLS) — WMLS
• 2026-05-20 Pending — NWBOR
• 2026-05-20 Pending — WMLS
• 2026-05-11 Listed $83,460 NWBOR
• 2026-05-11 Listed $83,460 WMLS
• 1988-12-21 Sold (Public Records) — Public Records

Property tax history

-0.2%/yr

Latest (2025): $966 · -23.8% YoY. Source: county tax records.