954 N Mccue St Lot 21

Laramie, WY 82072

$26,000C-

2 bd · 1.0 ba · 840 sqft · Built 1969 · Manufactured · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,193/mo
• Mortgage (P&I): −$136
• Tax + insurance: −$43
• HOA: −$490
• Vac / Maint / Mgmt: −$251
• Net cashflow: $273/mo
• Annual: $3,275/yr
• Cap rate: 18.89%
• Cash-on-cash: 44.98%
• DSCR: 3.00
• 1% rule: 4.59%
• Cash to close: $7,280

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $26k. Condition is rated fair.
• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $180 of loan paydown is wiped out by about $780 of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#23 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, amenities A-; Watch: employment D+, commute F.
• Albany County School District #1 (town): math 51% / reading 59% proficiency, ranked #19 of 41 in WY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 41% of rent.
• Market conditions: Rents rising fast (+6.3%/yr); 88 active listings in the ZIP; 99 units permitted in Albany County in 2024 (0 in 5+ unit buildings).
• Albany County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $7k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.9% vs local median 2.3% in Laramie — 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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: Exterior siding — Exposed siding and peeling paint
• Minor: Flooring — Worn-out flooring
• Moderate: Kitchen cabinets — Outdated cabinets
• Major: Bathroom fixtures — Small, basic fixtures