4410 South Pass Trl

South Greeley, WY 82007

$72,500B

3 bd · 2.0 ba · 1,160 sqft · Built 1992 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,791/mo
• Mortgage (P&I): −$380
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $914/mo
• Annual: $10,969/yr
• Cap rate: 21.42%
• Cash-on-cash: 54.03%
• DSCR: 3.40
• 1% rule: 2.47%
• Cash to close: $20,300

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $72k. Condition is rated fair.
• At list price, monthly cash flow is $914 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#26 in WY) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment D-.
• Laramie County School District #1 (urban): math 41% / reading 48% proficiency, ranked #33 of 41 in WY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 485 units permitted in Laramie County in 2024 (104 in 5+ unit buildings).
• Laramie County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 8y 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent runs 37% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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)

• Minor: Kitchen cabinets — Slight wear visible on cabinet doors.
• Minor: Bathroom fixtures — No visible damage, but may need updating.
• Minor: Floor refinishing — Hardwood floors appear clean but may need refinishing.
• Minor: Paint touch-ups — Paint looks fresh but some areas may need touch-ups.
• Minor: Window sealing — Windows appear functional but may need sealing.
• Moderate: Landscaping and curb appeal — Minimal landscaping and debris present, needs improvement.