Occupied Triplex with Off-Street
For Sale
$500,000
Pending
1140 South Durbin Street, Casper, WY 82601
Fully occupied triplex offers three income-producing units with off-street parking and multiple laundry access options.
Property Size5,336 SF
Days on Market74
Property Features for 1140 South Durbin Street
General Information
Standard status
Pending
Size
5,336 SF
Property subtype
Multi-family / Tri-Plex
Zoning
R1
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,283
Amenities
Rocky Mountain Power
Central Air
Dishwasher, Disposal, Microwave, Range/Oven, Refrigerator
Concrete
Architectural
Wood
Wood Siding
Wood Frame
Landscaped, Patio
No
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Ava Garner
(307) 200-3288
Source:
Compass
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 4 at 11:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
This fully occupied triplex includes three income-producing units and offers off-street parking. Unit 1 features 2 bedrooms and 1 bathroom, hardwood floors, a bright sunroom, private laundry, its own private basement, and a detached private garage. Unit 2 offers 1 bedroom and 1 bathroom, with thoughtful updates, shared laundry access, and a shared, but private, garage. Unit 3 includes 1 bedroom and 1 bathroom, a private basement, shared laundry access, and its own shared, yet private, garage.
The property is located just minutes from downtown Casper, with convenience to shopping, dining, and parks.
With a combination of private and shared-but-private amenities across the units, the layout is designed to support rental living while maintaining practical, home-like functionality for each residence.
The property is located just minutes from downtown Casper, with convenience to shopping, dining, and parks.
With a combination of private and shared-but-private amenities across the units, the layout is designed to support rental living while maintaining practical, home-like functionality for each residence.
Key Highlights
- Fully occupied triplex with 3 income‑producing units and 5,336 SF total
- Built in 1940 with wood frame construction, wood siding, and architectural roof
- Unit 1: 2 bed/1 bath with hardwood floors, bright sunroom, private laundry, private basement, and detached private garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,946
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,920
$898.9K
Cap Rate 7%
$642,086
$642.1K
Cap Rate 9%
$499,400
$499.4K
Market Conditions
NOI Build-Up for 5,336 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.2K $12.60/SF
− Vacancy
−$3.0K −$0.57/SF
EGI
$64.2K $12.03/SF
− OpEx
−$19.3K −$3.61/SF
NOI
$44.9K $8.42/SF
Area
Natrona County, WY
Vacancy
4.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,920
Cap Rate 7%
$642,086
Cap Rate 9%
$499,400
Alternative Uses
Best Use
Multifamily LT 5
$642.1K
$561.8K – $749.1K
NOI $44,946 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$592.8K
$518.7K – $691.6K
NOI $41,498 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,395 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 82601, WY
27,180
Population
12,967
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
93%
High-School Grad
478.8 sq mi
ZIP Area
57
Density / Sq Mi
$68,526
Median Household Income
$40,658
Median Earnings
$856
Median Rent
$244,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex offers three income-producing units with off-street parking and multiple laundry access options.
Where is this triplex located?
The property is located at 1140 South Durbin Street Casper, WY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Fully occupied triplex with 3 income‑producing units and 5,336 SF total; Built in 1940 with wood frame construction, wood siding, and architectural roof; Unit 1: 2 bed/1 bath with hardwood floors, bright sunroom, private laundry, private basement, and detached private garage
