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    1688 Espen Trl Cheyenne, WY 82009

    Sponsored
    For Sale
    $1,345,000

    Rural Residential, RANCH - Cheyenne, WY

    Type:Farm
    Lot size:
    4.89 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 26 at 9:06 pm

    Property Features for 1688 Espen Trl

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Security features
    Security System
    Vegetation
    Grassed
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Family Room, Kitchen, Living Room
    Bedrooms
    6
    Bathrooms
    3
    Parking
    4
    Parking features
    Garage, Heated, RV
    Patio and Porch features
    Patio, Porch
    Interior features
    Cable Tv, Den/Study/Office, Eat In Kitchen, Great Room, Extra Insulation, Pantry, Rec Room, Separate Dining, Security System, Sump Pump, Main Floor Laundry, Vaulted Ceiling, Walk-in Closet, Wet Bar, Main Floor Primary, Thermal Windows, Energy Star Appliances, Tankless Waterheater, Programmable Thermostat, High Effic. Hvac 95% +, Ceiling Fan, Energy Star Rated Windows, Xeriscaping
    Exterior features
    Front Fenced, Back Fenced, Patio, Work Shop, Covered Patio, Outbuilding, Porch, Covered Porch, Native Grasses And Plants
    Fencing
    Fenced
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer, Water - Softener
    Lot size
    4.89 Acres

    Taxes and HOA fees

    Expense value
    300
    Expense
    Home Owner Assessments Fee

    Utilities

    Utilities
    Cable Available, Water Available
    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2022
    Building materials
    Stone
    Architectural style
    Ranch
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Sarah Crowder

    RE/MAX Capitol Properties (307) 635-0303

    Listing agent Sarah Crowder (307) 635-0303

    Listing date Jan 14, 2026

    MLS# 99483 Listing URL

    Copyright © 2026 Cheyenne Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Custom Ranch with Horse Barn

    Built in 2022, this custom-built ranch-style home is situated on 4.89 acres. The property features quality finishes throughout, a bright, open, vaulted floor plan, a solid granite center island kitchen, a gas cooktop, a stainless vented hood, matching appliances, a separate dining area, and a pantry. The living area includes a gas fireplace with built-in shelving. The spacious primary bedroom suite includes a 5-piece primary bath with a separate shower, bidets, and walk-in closets. The home is equipped with fiber optic internet/cable, a Ring security camera system, on-demand tankless hot water, a water softener, and an EnergyStar HVAC and AC system. Exterior features include a covered patio, a 50-year hail-resistant roof, and a 4-car attached finished garage. Horse facilities include a professionally designed insulated 40' X 60' horse barn with barred windows, metal gates, a tack room, a feed room, and a horse/animal wash room with hot/cold water and a trenched drain system. There is also a heated shop on a thermostat, a home office, and a bath. Multiple frost-free Woodford hydrants are located across the property. Additional outbuildings include a foam-insulated 30' X 50' building for RV and horse trailer storage, with a 30 Amp RV plug and storage loft. The property is fully fenced with luxury vinyl perimeter fencing, a stone base, splash guard rock, paved driveways, and custom iron gates. The previously unfinished 1,970 square foot basement is currently being finished to match the upper level, adding three bedrooms, a bathroom, and a family room, plus extra storage. Construction is ongoing and estimated to be finalized before February. Covenants for road maintenance apply.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.861
    Latitude
    41.4091

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    FAQs

    What type of property is this?
    Horse & equestrian property - Newer ranch-style home on 4.89 acres with horse facilities.
    Where is this horse & equestrian property located?
    The property is located at 1688 Espen Trl Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $1,345,000.
    What are key features of this property?
    This property features: - Brand new (2022) custom-built ranch on nearly 5 acres, designed for horse enthusiasts with a 40' x 60' insulated horse barn (heated shop, tack/feed/wash rooms) and RV/trailer storage.; - Enjoy high-end finishes throughout, including a granite island kitchen, stainless steel appliances, gas cooktop, tankless water heater, water softener, and energy-efficient HVAC.; - Fully finished 1,970 sq ft basement (estimated completion before February) adding 3 bedrooms, a bathroom, a family room, and extra storage.
    (307) 635-0303
    Request Owner's contact information
    1688 Espen Trl Cheyenne, WY 82009
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    Cheyenne, WY 82009
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1688 Espen Trl Cheyenne, WY 82009
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    We can help!
    Listing Contact
    Sarah Crowder
    (307) 635-0303
    Learn more
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