100 Buffalo Blvd Dr

Chugwater, WY 82210

$700,000B-

None bd · None ba · 6,434 sqft · Built 1995 · MultiFamily · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,390/mo
• Mortgage (P&I): −$3,671
• Tax + insurance: −$1,167
• HOA: −$0
• Vac / Maint / Mgmt: −$1,762
• Net cashflow: $1,791/mo
• Annual: $21,487/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $196,000

Investor read

• This is a multifamily listed at $700k. Condition is rated poor.
• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $700k).
• It's been on market 106 days — a 9% lower offer ($637k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $637k (9.0% below list) — sets the bar for market timing.
• In year one you build about $31k of equity ($5k loan paydown + $27k appreciation (3.8% local appreciation)).
• Location reads 67/100 on livability (#65 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, amenities F, commute F.
• Platte County School District #1 (town): math 50% / reading 51% proficiency, ranked #29 of 41 in WY (top 71%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 40 units permitted in Platte County in 2024 (0 in 5+ unit buildings).
• Platte County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $196k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• Schools are D-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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: Kitchen — Dirty and cluttered with visible wear and tear
• Major: Bathrooms — Worn-out fixtures and outdated decor
• Major: Flooring — Worn-out carpet and subflooring
• Major: Interior walls/paint — Worn-out paint and peeling
• Major: Exterior/siding — Worn-out siding and paint
• Major: Windows — Worn-out frames and seals