607 Pine St

Medicine Bow, WY 82329

$199,000F

5 bd · 3.0 ba · 1,920 sqft · Built 1978 · SingleFamily · Active · 263 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,345/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $-312/mo
• Annual: $-3,748/yr
• Cap rate: 4.41%
• Cash-on-cash: -6.73%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $55,720

Investor read

• This is a 5-bed/3.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-312 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (32.4% below list).
• It's been on market 263 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (32.4% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#127 in WY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Carbon County School District #2 (rural): math 48% / reading 57% proficiency, ranked #21 of 41 in WY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Saratoga Elementary (math 42% / reading 57%, grade D, #87 of 151 statewide, top 64%, 187 students, 26% FRL); Saratoga Middle/High School (math 52% / reading 62%, grade C, #16 of 75 statewide, top 22%, 135 students, 18% FRL).
• Market conditions: 32 active listings in the ZIP; 40 units permitted in Carbon County in 2024 (0 in 5+ unit buildings).
• Carbon County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 263 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.