601 Harding Ave · Mills, WY 82644

$30,000

2 bd · 2.0 ba · 896 sqft · Other · 31 Days on market

Built 1974

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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
• Appreciation +5.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this 1974 Solitaire 14' x 64' mobile home, featuring new flooring for a fresh, updated feel. The property includes a large detached two-car garage, offering great space for parking, storage, or projects. All located on a rented lot at $700/month, with utilities not included. No land is included in the sale. Contact Dorie Nelson Real Estate Team for your personal tour 307.267.1190 or 307.340.0876

Key facts

• New flooring
• 2 garage spots
• Built 1974

Tags

• NEW FLOORING
• DETACHED TWO-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $30k.

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 ($876 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.9% vs local median 3.0% in Mills — 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 65/100 on livability (#81 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Natrona County School District #1 (urban): math 44% / reading 52% proficiency, ranked #32 of 41 in WY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 310 units permitted in Natrona County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Natrona County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

Risks & watch-outs

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

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.92% ✓
• Cap rate: 25.86%
• Cash-on-cash: 69.89%
• DSCR: 4.11
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.5%
• Equity multiple: 5.14×
• Total profit: $34,782
• Equity at exit: $13,489

10-year hold

• IRR: 74.0%
• Equity multiple: 10.54×
• Total profit: $80,175
• Equity at exit: $20,789

Cash invested: $8,400 (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 82644

• Active inventory: 18
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$33 /mo · $396/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $489

Break-even live

Break-even rent $257

Max offer price $30,000

Occupancy floor 39%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-21
   listed $30,000 Active 409-char remark

   Show marketing remark (409 chars)

   Welcome to this 1974 Solitaire 14' x 64' mobile home, featuring new flooring for a fresh, updated feel. The property includes a large detached two-car garage, offering great space for parking, storage, or projects. All located on a rented lot at $700/month, with utilities not included. No land is included in the sale. Contact Dorie Nelson Real Estate Team for your personal tour 307.267.1190 or 307.340.0876

2. 2024-05-24
   soldstatus Closed 318-char remark

   Show marketing remark (318 chars)

   This 2-bed, 2-bath manufactured home is located in a quiet neighborhood on a 6,700sq ft rented lot at $650/mo, featuring an oversized detached shop garage Sold as-is, it's ideal for those looking to invest in a fixer-upper. Call or text Dorie G Nelson at CBC Cornerstone Real Estate for you personal tour 307.267.1190.

3. 2024-05-22
   status Pending 318-char remark

   Show marketing remark (318 chars)

   This 2-bed, 2-bath manufactured home is located in a quiet neighborhood on a 6,700sq ft rented lot at $650/mo, featuring an oversized detached shop garage Sold as-is, it's ideal for those looking to invest in a fixer-upper. Call or text Dorie G Nelson at CBC Cornerstone Real Estate for you personal tour 307.267.1190.

4. 2024-05-10
   listed $14,900 Active 318-char remark

   Show marketing remark (318 chars)

   This 2-bed, 2-bath manufactured home is located in a quiet neighborhood on a 6,700sq ft rented lot at $650/mo, featuring an oversized detached shop garage Sold as-is, it's ideal for those looking to invest in a fixer-upper. Call or text Dorie G Nelson at CBC Cornerstone Real Estate for you personal tour 307.267.1190.

5. 2024-05-07
   soldstatus $55,000
6. 2024-05-06
   soldstatus Closed
7. 2024-04-12
   status Pending
8. 2024-04-10
   status Active
9. 2024-04-10
   price $69,000
10. 2024-02-18
    status Pending
11. 2024-02-16
    price $65,000
12. 2024-02-16
    status Active
13. 2024-01-15
    status Pending
14. 2023-12-28
    listed $99,000 Active

ⓘ 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: $396 · $33/mo
• Projected year-2 tax: $396 · $33/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 6/10 Major
• 🌡 Heat 3/10 Moderate 6 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,512
• − Mortgage interest: −$1,680
• − Property taxes: −$396
• − Insurance: −$150
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$873
• Taxable income: $5,731
• Est. tax owed @ 24.0%: −$1,375
• After-tax cash flow: $4,495/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: Natrona County School District #1
• NCES district ID: 5604510
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $55,217
• Composite: 41.6/100
• National rank: #3437
• State rank: #32 of 41 in WY

Livability — Mills

• Score: 65/100
• State rank: #81
• US rank: #12869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mills, WY
• City population: 1,890
• Population (ZIP): 1,890

Population outlook (Natrona County) Hauer SSP2

• Today (2025): 98,530 people
• By 2030: 107,084 · +8.7%
• By 2040: 124,838 · +26.7%
• By 2050: 143,617 · +45.8%
• By 2075: 192,378 · +95.2%
• By 2100: 228,435 · +131.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 14% Two or more races 7%
• Hispanic origin (detail): Mexican 12% Cuban 2%
• Common ancestry: Romanian 6% Portuguese 2% English 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 2%

Political lean MEDSL · Natrona

• 2024 margin: Solid R (+48.6) · D 24.8% · R 73.5% · Other 1.7%
• 2008→2024 swing: -14.3pp toward R · 2008: -34.4pp · 2024: -48.6pp
• All cycles: 2024: R+48.6 2020: R+47.6 2016: R+52.2 2012: R+41.1 2008: R+34.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-69.7% since first listed

14 events — show timeline

• 2026-04-21 Listed $30,000 WMLS
• 2024-05-24 Sold (MLS) — WMLS
• 2024-05-22 Pending — WMLS
• 2024-05-10 Listed $14,900 WMLS
• 2024-05-07 Sold (Public Records) $55,000 Public Records
• 2024-05-06 Sold (MLS) — WMLS
• 2024-04-12 Pending — WMLS
• 2024-04-10 Relisted — WMLS
• 2024-04-10 Price Changed $69,000 WMLS
• 2024-02-18 Pending — WMLS
• 2024-02-16 Price Changed $65,000 WMLS
• 2024-02-16 Relisted — WMLS
• 2024-01-15 Pending — WMLS
• 2023-12-28 Listed $99,000 WMLS

Property tax history

-3.4%/yr

Latest (2025): $396 · +2.7% YoY. Source: county tax records.