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    246 Lawman Ln Carpenter, WY 82054

    Sponsored
    For Sale
    $615,000

    Rural Residential, RANCH - Carpenter, WY

    Type:Farm
    Property size:
    1,617 SF
    Lot size:
    40.58 Acres
    Days on Market:
    15
    Last Refresh:
    Feb 24 at 12:06 am

    Property Features for 246 Lawman Ln

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Vegetation
    Grassed
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    1
    Parking
    4
    Parking features
    RV
    Interior features
    Eat In Kitchen, Great Room, Extra Insulation, Pantry, Main Floor Laundry, Vaulted Ceiling, Walk-in Closet, Main Floor Primary, Thermal Windows, Tankless Waterheater
    Exterior features
    Sprinkler System, Utility Shed, Work Shop, Outbuilding, Backyard Sod/Grass, Back Sprinkler System, Drip Irrigation System, Native Grasses And Plants
    Fireplace
    1
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
    Size
    1,617 SF
    Lot size
    40.58 Acres

    Taxes and HOA fees

    Expense value
    450
    Expense
    Home Owner Assessments Fee

    Utilities

    Utilities
    Water Available
    Heating system
    Fireplace(s), Wood (Heating), Wood Stove

    Building Details

    Year built
    2017
    Architectural style
    Ranch
    Additional Structures
    Outbuilding, Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Mistie Woods
    Mistie Woods

    #1 Properties (307) 634-2222

    Listing agent Mistie Woods (307) 634-2222

    Listing date Feb 10, 2026

    MLS# 99769 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

    Wyoming Ranch with Modern Rustic Home

    Located in rural Wyoming at the end of a private road, this property features a 1,617 square foot residence built in 2017. The home includes heated concrete slab floors and 18-foot ceilings, creating an open interior. A Blaze King wood-burning fireplace provides heat. The kitchen features custom-built cabinetry, slab concrete counters, and stainless steel appliances. A laundry and mudroom offer built-in shelving and storage. The primary suite includes a large closet, and the bathroom has a custom tile surround. Bedroom two has a walk-in closet and loft area, while bedroom three also offers a walk-in closet. Attic storage is available throughout. Interior ceilings are clad in beetle kill shiplap. Casement windows and extra insulation contribute to year-round comfort. The landscaped areas around the home are supported by an automatic sprinkler system. The property includes a 40 by 40 foot shop with a concrete floor, large overhead door, horse stall area, and electrical service. Multiple utility outbuildings include a heated storage shed and a loafing shed. The property includes ten acres of fenced pasture suitable for livestock or horses. On-site shooting amenities include a range with a 200-meter zero set and multiple targets. The parcel is within walking distance of state land. Fiber internet service is available. The tract includes a defined creek bed, scenic draws, and rock outcroppings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Carpenter
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.285
    Latitude
    41.0652

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    FAQs

    What type of property is this?
    Ranch - 40.58 acre ranch featuring a modern rustic home.
    Where is this ranch located?
    The property is located at 246 Lawman Ln Carpenter, WY.
    What is the asking price?
    The asking price for this property is $615,000.
    What are key features of this property?
    This property features: - 40.58 acres of land with fenced pasture ideal for livestock or horses.; - Includes a gun range with a 200-meter zero set and the ability to shoot out to 500+ meters.; - 40x40 foot shop with concrete floor, large overhead door, horse stall area, and electrical service.
    (307) 214-7055
    Request Owner's contact information
    246 Lawman Ln Carpenter, WY 82054
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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
    246 Lawman Ln Carpenter, WY 82054
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    We can help!
    Listing Contact
    Mistie Woods
    Mistie Woods
    Real Estate License ID: 10978
    (307) 214-7055 (307) 634-2222
    Learn more
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