150 W 11th St Lot 26 · Sheridan, WY 82801

$57,000

3 bd · 2.0 ba · 1,064 sqft · SingleFamily · 42 Days on market

Built 2004 Poor condition $54/sqft · 80% below area $450/mo HOA · 26% of rent

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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
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained and nicely updated 76x14 Friendship home featuring newer appliances, new windows, and blinds throughout. Recent exterior improvements include a covered front entry and gutters with gutter guards installed in 2017. Comfortable, cozy, and move-in ready with practical updates already completed.

Key facts

• Newer appliances
• Blinds throughout
• Covered front entry

Tags

• NEWER APPLIANCES
• NEW WINDOWS
• BLINDS THROUGHOUT
• COVERED FRONT ENTRY
• GUTTERS WITH GUTTER GUARDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $57k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $55k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 2.4% in Sheridan — 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 79/100 on livability (#7 in WY, #2,337 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities C-, employment C-, commute F.
• Sheridan County School District #2 (town): math 68% / reading 72% proficiency, ranked #1 of 41 in WY (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 509 active listings in the ZIP; 309 units permitted in Sheridan County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $394 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sheridan County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,290 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 3.06% ✓
• Cap rate: 17.53%
• Cash-on-cash: 40.14%
• DSCR: 2.79
• GRM: 2.7

CMA / ARV

• ARV (median comp): $289,454
• List price: $57,000
• Delta: -80.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1436 N Gould St	0.16mi	2/1.0 (-1)	1,118 (+5%)	5mo	$240,000	$215	71
1343 Bowman Ave	0.47mi	2/1.0 (-1)	1,102 (+4%)	2mo	$396,000	$359	61
1147 N Gould St	0.33mi	2/2.0 (-1)	968 (-9%)	5mo	$298,500	$308	60
1925 Frackleton St	0.34mi	2/2.0 (-1)	1,130 (+6%)	11mo	$385,000	$341	60
1633 N Gould St	0.21mi	2/1.0 (-1)	978 (-8%)	10mo	$319,900	$327	59
1030 N Main St	0.38mi	2/1.0 (-1)	1,115 (+5%)	10mo	$367,500	$330	57
1306 Marion St	0.22mi	2/1.0 (-1)	908 (-15%)	1mo	$290,000	$319	56
1556 Parker Ave	0.42mi	3/2.0	1,223 (+15%)	8mo	$329,900	$270	49
1048 Florence Ave	0.74mi	2/1.8 (-1)	1,008 (-5%)	9mo	$315,000	$313	43
1378 Taylor Ave	0.62mi	3/1.0	904 (-15%)	1mo	$249,000	$275	41
851 Burton St	0.73mi	3/2.0	1,200 (+13%)	6mo	$299,000	$249	39
1379 Yonkee Ave	0.65mi	2/1.0 (-1)	960 (-10%)	10mo	$339,500	$354	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 2.57×
• Total profit: $25,071
• Equity at exit: $8,499

10-year hold

• IRR: 43.6%
• Equity multiple: 5.19×
• Total profit: $66,848
• Equity at exit: $4,928

Cash invested: $15,960 (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 82801

• Active inventory: 509
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,744 medium
• Mortgage (P&I): −$299
• Tax est. 1.5%: −$71 /mo · $855/yr
• Insurance: −$24
• HOA: −$450
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $534

Break-even live

Break-even rent $1,068

Max offer price $57,000

Occupancy floor 64%

Sensitivity live

Price	-10% $573	-5% $554	+0% $534	+5% $514	+10% $495
Rent	-10% $396	-5% $465	+0% $534	+5% $603	+10% $672
Rate	-1.0pp $563	-0.5pp $548	base $534	+0.5pp $519	+1.0pp $504

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $450 · $5,400/yr

Listing history 7 events

1. 2026-04-13
   listed $57,000 Active 308-char remark

   Show marketing remark (308 chars)

   Well-maintained and nicely updated 76x14 Friendship home featuring newer appliances, new windows, and blinds throughout. Recent exterior improvements include a covered front entry and gutters with gutter guards installed in 2017. Comfortable, cozy, and move-in ready with practical updates already completed.

2. 2019-08-09
   soldstatus 284-char remark

   Show marketing remark (284 chars)

   Cozy home that has been nicely updated and refreshed. New Fridge, range, microwave, kitchen sink, garbage grinder, cover over front door, gutter with gutter guards, 2017. New carpet and luxury vinyl wood look tile 2018, and new bath vanity for 2nd bedroom 2018. 76x14 Friendship home.

3. 2019-07-08
   listed $47,500 284-char remark

   Show marketing remark (284 chars)

   Cozy home that has been nicely updated and refreshed. New Fridge, range, microwave, kitchen sink, garbage grinder, cover over front door, gutter with gutter guards, 2017. New carpet and luxury vinyl wood look tile 2018, and new bath vanity for 2nd bedroom 2018. 76x14 Friendship home.

4. 2017-05-02
   soldstatus
5. 2017-04-11
   listed $35,500
6. 2016-03-18
   soldstatus
7. 2016-02-08
   listed $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 51% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,929
• − Mortgage interest: −$3,193
• − Property taxes: −$855
• − Insurance: −$285
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$5,400
• − Depreciation: −$1,658
• Taxable income: $6,189
• Est. tax owed @ 24.0%: −$1,485
• After-tax cash flow: $4,921/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Immediate focus should be on the kitchen and bathrooms, followed by exterior and landscaping improvements.

Repairs flagged

• Major kitchen appliances — No appliances visible
• Major bathroom fixtures — No fixtures or sinks visible
• Major exterior siding — Siding appears weathered and peeling
• Major landscaping — Overgrown and unkempt

Value-add opportunities

• Resale New kitchen appliances — Modern appliances will attract buyers
• Resale New bathroom fixtures — Up-to-date fixtures will appeal to buyers
• Both Paint interior walls — Fresh paint will improve curb appeal and interior aesthetics
• Both Landscaping — Well-maintained landscaping will enhance curb appeal and attract renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · No appliances visible	Major	$15,000–50,000
bathroom fixtures · No fixtures or sinks visible	Major	$15,000–50,000
exterior siding · Siding appears weathered and peeling	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New kitchen appliances — Modern appliances will attract buyers ↑
• Resale New bathroom fixtures — Up-to-date fixtures will appeal to buyers ↑
• Both Paint interior walls — Fresh paint will improve curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping will enhance curb appeal and attract renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sheridan County School District #2
• NCES district ID: 5605695
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $50,902
• Composite: 59.44/100
• National rank: #923
• State rank: #1 of 41 in WY

Livability — Sheridan

• Score: 79/100
• State rank: #7
• US rank: #2337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheridan, WY
• County: Sheridan County · 26,310 people
• City population: 26,310
• Metro: Sheridan, WY
• Population (ZIP): 26,310
• Household income: $73,213
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 742.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 4% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -194.82%
• Current HPI: 190.3135
• Rent YoY: —
• Metro: Sheridan, WY
• State GDP YoY: —
• F500 in state: 0

Price history

+90.0% since first listed

7 events — show timeline

• 2026-04-13 Listed $57,000 SBORWY
• 2019-08-09 Sold (MLS) — SBORWY
• 2019-07-08 Listed $47,500 SBORWY
• 2017-05-02 Sold (MLS) — SBORWY
• 2017-04-11 Listed $35,500 SBORWY
• 2016-03-18 Sold (MLS) — SBORWY
• 2016-02-08 Listed $30,000 SBORWY