119 Trails West Cir · Ranchester, WY 82839

$295,000

3 bd · 3.0 ba · 1,565 sqft · MultiFamily public records · 85 Days on market

Built 2016 1,742 sqft lot $115/mo HOA · 10% of rent

---

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
• Schools +5.8/10.0
• Appreciation +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Clean, classic, and move-in ready!! This beautifully done 4 bedroom, 2 ½ bath townhome is close to perfect! Access to the home is easy, the views from the top level are amazing, and the finishes are top-notch. Classic style LVT, Granite countertops, and hardwood cabinetry throughout. An open floor plan inside makes for easy living. The larger lot space outside, with the end-unit location, feels comfortable. You will be hard pressed to find a better built and more affordable place than this! Located just 20 minutes from Sheridan and a quick trip to the Big Horns. HOA of $100/month covers, water, trash, lawn care, and snow removal. All measurements are approximate.

Key facts

• 1,742 sq ft lot
• Garage
• Built 2016

Property features AI

Finance

• HOA & community: Homeowners association with a $115 monthly fee

Exterior

• Parking: Attached garage (1 car); Concrete driveway/parking
• Utilities: Electric service on property; Public sewer (connected)
• Home design: Single-family residence (stick built); 2 stories
• Construction: Lap siding; Asphalt roof; Built with crawl space foundation
• Exterior features: Deck; Patio; Partial fenced yard; Has a view

Interior

• Heating & cooling: Central air; Ceiling fan(s); Electric forced-air heating
• Interior features: Ceiling fans; Pantry; Walk-in closets; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $295k).
• Recommended offer: $277k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#69 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Sheridan County School District #1 (rural): math 64% / reading 69% proficiency, ranked #2 of 41 in WY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 309 units permitted in Sheridan County in 2024 (92 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-850 appreciation (-0.3% local appreciation)).
• Sheridan County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $83k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $277,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.64% ✓
• Cap rate: 14.11%
• Cash-on-cash: 27.93%
• DSCR: 2.24
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.33×
• Total profit: $109,831
• Equity at exit: $81,432

10-year hold

• IRR: 31.8%
• Equity multiple: 4.48×
• Total profit: $287,525
• Equity at exit: $94,574

Cash invested: $82,600 (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 82839

• Home prices YoY: -0.2%
• Active inventory: 22
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $4,836 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$113 /mo · $1,356/yr
• Insurance: −$123
• HOA: −$115
• Vacancy / Maint / Mgmt: −$1,016
• Net cashflow: $1,923

Break-even live

Break-even rent $2,402

Max offer price $295,000

Occupancy floor 55%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$4,836
Total (4 units)			$4,836

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
713 Halbert St Unit 713 Halbert Ranchester, WY	4.0	1.0	1680	$1,600	$0.95	21d	1	0.23mi

HOA detail

• Monthly dues: $115 · $1,380/yr
• Likely covers: watertrashlandscapingsnow removal

Listing history 23 events

1. 2026-06-19
   days on market $295,000 Active 85 DOM
2. 2026-06-18
   days on market $295,000 Active 84 DOM
3. 2026-06-17
   days on market $295,000 Active 83 DOM
4. 2026-06-16
   days on market $295,000 Active 82 DOM
5. 2026-06-15
   days on market $295,000 Active 81 DOM
6. 2026-06-14
   days on market $295,000 Active 79 DOM
7. 2026-06-12
   days on market $295,000 Active 78 DOM
8. 2026-06-09
   days on market $295,000 Active 75 DOM
9. 2026-06-08
   days on market $295,000 Active 74 DOM
10. 2026-06-07
    days on market $295,000 Active 73 DOM
11. 2026-06-05
    days on market $295,000 Active 71 DOM
12. 2026-06-02
    days on market $295,000 Active 68 DOM
13. 2026-06-01
    days on market $295,000 Active 67 DOM
14. 2026-05-31
    days on market $295,000 Active 66 DOM
15. 2026-05-30
    days on market $295,000 Active 65 DOM
16. 2026-04-16
    price $295,000
17. 2026-03-27
    listed $299,000 Active
18. 2024-08-23
    soldstatus Closed 679-char remark

    Show marketing remark (679 chars)

    Clean, classic, and move-in ready!! This beautifully done 4 bedroom, 2 ½ bath townhome is close to perfect! Access to the home is easy, the views from the top level are amazing, and the finishes are top-notch. Classic style LVT, Granite countertops, and hardwood cabinetry throughout. An open floor plan inside makes for easy living. The larger lot space outside, with the end-unit location, feels comfortable. You will be hard pressed to find a better built and more affordable place than this! Located just 20 minutes from Sheridan and a quick trip to the Big Horns. HOA of $100/month covers, water, trash, lawn care, and snow removal. All measurements are approximate.

19. 2024-08-23
    soldstatus

    Show marketing remark (679 chars)

    Clean, classic, and move-in ready!! This beautifully done 4 bedroom, 2 ½ bath townhome is close to perfect! Access to the home is easy, the views from the top level are amazing, and the finishes are top-notch. Classic style LVT, Granite countertops, and hardwood cabinetry throughout. An open floor plan inside makes for easy living. The larger lot space outside, with the end-unit location, feels comfortable. You will be hard pressed to find a better built and more affordable place than this! Located just 20 minutes from Sheridan and a quick trip to the Big Horns. HOA of $100/month covers, water, trash, lawn care, and snow removal. All measurements are approximate.

20. 2024-07-17
    historical Active Under Contract 679-char remark

    Show marketing remark (679 chars)

    Clean, classic, and move-in ready!! This beautifully done 4 bedroom, 2 ½ bath townhome is close to perfect! Access to the home is easy, the views from the top level are amazing, and the finishes are top-notch. Classic style LVT, Granite countertops, and hardwood cabinetry throughout. An open floor plan inside makes for easy living. The larger lot space outside, with the end-unit location, feels comfortable. You will be hard pressed to find a better built and more affordable place than this! Located just 20 minutes from Sheridan and a quick trip to the Big Horns. HOA of $100/month covers, water, trash, lawn care, and snow removal. All measurements are approximate.

21. 2024-07-15
    listed $289,500 Active 679-char remark

    Show marketing remark (679 chars)

    Clean, classic, and move-in ready!! This beautifully done 4 bedroom, 2 ½ bath townhome is close to perfect! Access to the home is easy, the views from the top level are amazing, and the finishes are top-notch. Classic style LVT, Granite countertops, and hardwood cabinetry throughout. An open floor plan inside makes for easy living. The larger lot space outside, with the end-unit location, feels comfortable. You will be hard pressed to find a better built and more affordable place than this! Located just 20 minutes from Sheridan and a quick trip to the Big Horns. HOA of $100/month covers, water, trash, lawn care, and snow removal. All measurements are approximate.

22. 2017-02-21
    soldstatus 638-char remark

    Show marketing remark (638 chars)

    This is your chance to purchase a BRAND NEW 4 bedroom, 2 1/2 bath home at a very affordable price. The home features 9ft ceilings on the main floor, large hallways, and a laundry facility conveniently located upstairs. This home has an attached 1 car garage, forced air heat with air conditioning, and an open feel to the living space. The HOA fee covers your water, sewer, garbage, lawn care and snow removal. Ranchester is only a short distance from the Bighorn mountains and all the beauty and recreation they provide! Visit acebuilders. biz for maps, photos and more information. Sheena Bernard is an owner of Bernard Investments, LLC

23. 2016-05-25
    listed $167,000 638-char remark

    Show marketing remark (638 chars)

    This is your chance to purchase a BRAND NEW 4 bedroom, 2 1/2 bath home at a very affordable price. The home features 9ft ceilings on the main floor, large hallways, and a laundry facility conveniently located upstairs. This home has an attached 1 car garage, forced air heat with air conditioning, and an open feel to the living space. The HOA fee covers your water, sewer, garbage, lawn care and snow removal. Ranchester is only a short distance from the Bighorn mountains and all the beauty and recreation they provide! Visit acebuilders. biz for maps, photos and more information. Sheena Bernard is an owner of Bernard Investments, LLC

ⓘ 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: $1,356 · $113/mo
• Projected year-2 tax: $1,800 · $150/mo
• Expected delta: +$444/yr (+$37/mo · 32.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,032
• − Mortgage interest: −$16,525
• − Property taxes: −$1,356
• − Insurance: −$1,475
• − Repairs & maintenance: −$4,643
• − Management: −$4,643
• − HOA: −$1,380
• − Depreciation: −$8,582
• Taxable income: $19,430
• Est. tax owed @ 24.0%: −$4,663
• After-tax cash flow: $18,407/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: Sheridan County School District #1
• NCES district ID: 5605690
• Math proficiency: 64% ▲ 1.00%
• Reading proficiency: 69% ▲ 1.00%
• Median HH income: $62,798
• Composite: 57.68/100
• National rank: #1059
• State rank: #2 of 41 in WY

Livability — Ranchester

• Score: 66/100
• State rank: #69
• US rank: #11341

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ranchester, WY
• Population (ZIP): 1,421

Population outlook (Sheridan County) Hauer SSP2

• Today (2025): 32,048 people
• By 2030: 32,834 · +2.5%
• By 2040: 33,843 · +5.6%
• By 2050: 34,744 · +8.4%
• By 2075: 37,231 · +16.2%
• By 2100: 37,261 · +16.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Native American 2% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 4% Romanian 3% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Sheridan

• 2024 margin: Solid R (+50.1) · D 24.2% · R 74.2% · Other 1.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -38.2pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+47.5 2016: R+51.7 2012: R+46.8 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.29%
• Current HPI: 163.95
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+76.6% since first listed

8 events — show timeline

• 2026-04-16 Price Changed $295,000 SBORWY
• 2026-03-27 Listed $299,000 SBORWY
• 2024-08-23 Sold (Public Records) — Public Records
• 2024-08-23 Sold (MLS) — SBORWY
• 2024-07-17 Contingent — SBORWY
• 2024-07-15 Listed $289,500 SBORWY
• 2017-02-21 Sold (MLS) — SBORWY
• 2016-05-25 Listed $167,000 SBORWY

Property tax history

+3.5%/yr

Latest (2025): $1,356 · -20.0% YoY. Source: county tax records.