1511 Mydland Rd #182 · Sheridan, WY 82801

$73,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 150 Days on market

Built 1974 Fair condition $93/sqft · 172% above area ↓ 3% since listing

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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 +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 1974, this well-maintained 2-bedroom, 1-bath mobile home is a 14' x 76' and is situated on a rented lot within a mobile home park. Offers will be contingent upon park approval of the buyer's application. Off-street parking is available for convenience. The sale includes an oven/range, refrigerator, dishwasher, microwave, washer, and dryer. All measurements approximate.

Key facts

• Off street parking
• Oven range
• Dishwasher

Tags

• OFF STREET PARKING
• OVEN RANGE
• REFRIGERATOR
• DISHWASHER
• MICROWAVE
• WASHER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $73k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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 $505 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $64,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 17.33%
• Cash-on-cash: 39.41%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (median comp): $26,835
• List price: $73,000
• Delta: 172.03%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1511 Mydland Rd #73	0.07mi	2/1.0	672 (-14%)	5mo	$24,900	$37	69
1511 Mydland Rd	0.02mi	2/1.0	672 (-14%)	9mo	$35,000	$52	68

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: 35.7%
• Equity multiple: 2.51×
• Total profit: $30,946
• Equity at exit: $10,885

10-year hold

• IRR: 42.4%
• Equity multiple: 5.02×
• Total profit: $82,090
• Equity at exit: $6,312

Cash invested: $20,440 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$383
• Tax est. 1.5%: −$91 /mo · $1,095/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $671

Break-even live

Break-even rent $639

Max offer price $73,000

Occupancy floor 50%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $73,000 Active 150 DOM
2. 2026-06-18
   days on market $73,000 Active 149 DOM
3. 2026-06-17
   days on market $73,000 Active 148 DOM
4. 2026-06-16
   days on market $73,000 Active 147 DOM
5. 2026-06-15
   days on market $73,000 Active 146 DOM
6. 2026-06-14
   days on market $73,000 Active 144 DOM
7. 2026-06-12
   days on market $73,000 Active 143 DOM
8. 2026-06-09
   days on market $73,000 Active 140 DOM
9. 2026-06-08
   days on market $73,000 Active 139 DOM
10. 2026-06-07
    days on market $73,000 Active 138 DOM
11. 2026-06-05
    days on market $73,000 Active 136 DOM
12. 2026-06-03
    days on market $73,000 Active 134 DOM
13. 2026-06-02
    days on market $73,000 Active 133 DOM
14. 2026-06-01
    days on market $73,000 Active 132 DOM
15. 2026-05-31
    days on market $73,000 Active 131 DOM
16. 2026-05-30
    days on market $73,000 Active 130 DOM
17. 2026-03-09
    price $73,000 380-char remark

    Show marketing remark (380 chars)

    Built in 1974, this well-maintained 2-bedroom, 1-bath mobile home is a 14' x 76' and is situated on a rented lot within a mobile home park. Offers will be contingent upon park approval of the buyer's application. Off-street parking is available for convenience. The sale includes an oven/range, refrigerator, dishwasher, microwave, washer, and dryer. All measurements approximate.

18. 2026-01-20
    listed $75,000 Active 380-char remark

    Show marketing remark (380 chars)

    Built in 1974, this well-maintained 2-bedroom, 1-bath mobile home is a 14' x 76' and is situated on a rented lot within a mobile home park. Offers will be contingent upon park approval of the buyer's application. Off-street parking is available for convenience. The sale includes an oven/range, refrigerator, dishwasher, microwave, washer, and dryer. All measurements approximate.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 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: $17,859
• − Mortgage interest: −$4,089
• − Property taxes: −$1,095
• − Insurance: −$365
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$2,124
• Taxable income: $7,329
• Est. tax owed @ 24.0%: −$1,759
• After-tax cash flow: $6,296/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 · 6 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to improve its condition and increase its resale and rental value.

Repairs flagged

• Moderate Exterior siding — Significant wear and discoloration.
• Moderate Interior paint — Chipped and worn in some areas.
• Moderate Windows — Signs of wear and potential drafts.
• Moderate HVAC system — Appears old and may need replacement or repair.
• Moderate Landscaping — Basic and overgrown, detracting from curb appeal.

Value-add opportunities

• Both Painting and updating the exterior siding — Improves curb appeal and value.
• Both Upgrading the HVAC system — Enhances comfort and energy efficiency.
• Both Landscaping improvements — Enhances curb appeal and property value.
• Both Kitchen and bathroom updates — Modernizes the space and increases value.
• Both Flooring replacement — Enhances the overall look and feel of the home.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and discoloration.	Moderate	$3,000–15,000
Interior paint · Chipped and worn in some areas.	Moderate	$3,000–15,000
Windows · Signs of wear and potential drafts.	Moderate	$3,000–15,000
HVAC system · Appears old and may need replacement or repair.	Moderate	$3,000–15,000
Landscaping · Basic and overgrown, detracting from curb appeal.	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both Painting and updating the exterior siding — Improves curb appeal and value. ↑
• Both Upgrading the HVAC system — Enhances comfort and energy efficiency. ↑
• Both Landscaping improvements — Enhances curb appeal and property value. ↑
• Both Kitchen and bathroom updates — Modernizes the space and increases value. ↑
• Both Flooring replacement — Enhances the overall look and feel of the home. ↑

ⓘ 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

-2.7% since first listed

2 events — show timeline

• 2026-03-09 Price Changed $73,000 SBORWY
• 2026-01-20 Listed $75,000 SBORWY