241 N Mckinley St · Casper, WY 82601

$140,000

2 bd · 2.0 ba · 1,936 sqft · SingleFamily public records · 102 Days on market

Built 1923 3,920 sqft lot $72/sqft · 46% below area Est $260k · 46% under ↓ 21% since listing

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Why this score? — see what drove the C 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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Rent growth +4.7/5.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Property offers opportunities for rental growth through updates, improved management, and operational efficiencies. Units are currently vacant. This property provides flexibility for a wide range of buyers from first-time multi-family investors to those expanding an existing portfolio.

Key facts

• 3,920 sq ft lot
• Built 1923
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (10.2% below list).
• Recommended offer: $126k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.0% in Casper — 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 78/100 on livability (#8 in WY, #2,629 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, health & safety 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: Rents rising fast (+9.0%/yr); 220 active listings in the ZIP; 310 units permitted in Natrona County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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 + 8.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,756 (10.2% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.90% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $259,701
• List price: $140,000
• Delta: -46.09%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
246 S Jackson St	0.31mi	3/2.0 (+1)	1,924 (-1%)	9mo	$319,000	$166	72
415 S Lincoln St	0.43mi	2/1.5	1,987 (+3%)	6mo	$314,000	$158	68
239 S Mckinley St	0.30mi	3/2.0 (+1)	1,782 (-8%)	2mo	$260,000	$146	66
501 S Jackson St	0.46mi	2/2.0	1,844 (-5%)	5mo	$185,000	$100	66
919 E 5th	0.48mi	2/2.0	1,805 (-7%)	8mo	$221,000	$122	60
329 S Mckinley St	0.36mi	3/1.5 (+1)	1,814 (-6%)	9mo	$265,000	$146	58
631 E 5th St	0.53mi	3/1.8 (+1)	1,794 (-7%)	0mo	$349,900	$195	57
701 S Beech St	0.74mi	2/2.0	1,834 (-5%)	3mo	$320,000	$174	54
263 S Kenwood St	0.54mi	3/1.0 (+1)	1,824 (-6%)	4mo	$153,000	$84	52
718 E 5th St	0.48mi	2/1.8	1,697 (-12%)	6mo	$249,900	$147	51
740 N Jefferson St	0.43mi	3/1.0 (+1)	1,720 (-11%)	4mo	$155,000	$90	49
432 S Park St	0.54mi	3/2.0 (+1)	2,204 (+14%)	5mo	$315,000	$143	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.79×
• Total profit: $-8,077
• Equity at exit: $20,874

10-year hold

• IRR: 9.2%
• Equity multiple: 1.85×
• Total profit: $33,352
• Equity at exit: $12,105

Cash invested: $39,200 (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 82601

• Rents YoY: 9.0%
• Active inventory: 220
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $126

Break-even live

Break-even rent $1,098

Max offer price $140,000

Occupancy floor 85%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $140,000 Active 102 DOM
2. 2026-06-18
   days on market $140,000 Active 101 DOM
3. 2026-06-17
   days on market $140,000 Active 100 DOM
4. 2026-06-17
   days on market $140,000 Active 99 DOM
5. 2026-06-15
   days on market $140,000 Active 98 DOM
6. 2026-06-14
   days on market $140,000 Active 96 DOM
7. 2026-06-13
   days on market $140,000 Active 95 DOM
8. 2026-06-10
   days on market $140,000 Active 93 DOM
9. 2026-06-09
   days on market $140,000 Active 92 DOM
10. 2026-06-08
    days on market $140,000 Active 91 DOM
11. 2026-06-07
    days on market $140,000 Active 90 DOM
12. 2026-06-05
    days on market $140,000 Active 87 DOM
13. 2026-06-03
    days on market $140,000 Active 86 DOM
14. 2026-06-02
    days on market $140,000 Active 85 DOM
15. 2026-06-01
    days on market $140,000 Active 84 DOM
16. 2026-05-31
    days on market $140,000 Active 83 DOM
17. 2026-05-30
    days on market $140,000 Active 82 DOM
18. 2026-03-09
    listed $140,000 Active 291-char remark

    Show marketing remark (291 chars)

    This Property offers opportunities for rental growth through updates, improved management, and operational efficiencies. Units are currently vacant. This property provides flexibility for a wide range of buyers from first-time multi-family investors to those expanding an existing portfolio.

19. 2026-01-14
    listed $395,000 Active
20. 2025-09-02
    listed $178,000 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: $903 · $75/mo
• Projected year-2 tax: $903 · $75/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 · 17 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: $15,091
• − Mortgage interest: −$7,842
• − Property taxes: −$903
• − Insurance: −$700
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$4,073
• Taxable loss: −$842
• Est. tax savings @ 24.0%: +$202
• After-tax cash flow: $1,710/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 — Casper

• Score: 78/100
• State rank: #8
• US rank: #2629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Casper, WY
• County: Natrona County · 72,922 people
• City population: 72,922
• Metro: Casper, WY
• Population (ZIP): 26,721
• Household income: $67,642
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 749.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 4% Lithuanian 4% Portuguese 4%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -190.42%
• Current HPI: 181.2192
• Rent YoY: ▲ 8.97%
• Metro: Casper, WY
• State GDP YoY: —
• F500 in state: 0

Price history

-21.3% since first listed

3 events — show timeline

• 2026-03-09 Listed $140,000 WMLS
• 2026-01-14 Listed $395,000 WMLS
• 2025-09-02 Listed $178,000 WMLS

Property tax history

+4.8%/yr

Latest (2025): $903 · -22.8% YoY. Source: county tax records.