701 W Laramie St St

Guernsey, WY 82214

$479,900C

12 bd · 6.0 ba · 6,912 sqft · Built 1980 · MultiFamily · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,900/mo
• Mortgage (P&I): −$2,517
• Tax + insurance: −$800
• HOA: −$0
• Vac / Maint / Mgmt: −$1,029
• Net cashflow: $555/mo
• Annual: $6,654/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• 1% rule: 1.02%
• Cash to close: $134,372

Investor read

• This is a 4 × 3-bed/?-bath units multifamily listed at $480k. Condition is rated fair.
• At list price, monthly cash flow is $555 ($7k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $480k).
• It's been on market 65 days — a 6% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $451k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($3k loan paydown + $2k appreciation (0.3% local appreciation)).
• Location reads 68/100 on livability (#57 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Platte County School District #2 (rural): math 40% / reading 50% proficiency, ranked #43 of 48 in WY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Guernsey-Sunrise Elementary (math 37% / reading 42%, grade F, #118 of 151 statewide, top 84%, 126 students, 45% FRL); Guernsey-Sunrise Junior High (math 44% / reading 34%, 28 students, 54% FRL); Guernsey-Sunrise High School (math 30% / reading 30%, grade F, #59 of 75 statewide, top 78%, 57 students, 47% FRL) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 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.
• 2 sale attempts since 12y 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 (0.3% appreciation + 3.0% rent growth), your $134k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Aerial view suggests significant wear and potential for replacement
• Major: exterior siding — Weathered appearance, potential for repainting or replacement
• Minor: landscaping — Gravel driveway and unkempt landscaping can be improved with minimal effort