Updated Riverfront
For Sale
$425,000
1159/1161 N Washington, Casper, WY 82601
Two-unit residential property with four bedrooms, one-and-a-half bathrooms, and access to nearby walking paths.
Property Size3,000 SF
Days on Market111
Property Features for 1159/1161 N Washington
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family Home
Zoning
R3
Building Details
Building Size
3,000 SF
Year Built
1973
Stories
2
Units
2
Listing Agency:
Vertical Realty Group, LLC
(307) 262-7768
Listed By:
James Downs
(307) 262-7768
Source:
Tcrwyoming
Added: May 4
Changed: Aug 20
Last Checked: Aug 21 at 2:40PM
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 Vertical Realty Group, LLC
Investment Insights
Based on property information with market context.
This duplex at 1159/1161 N Washington in Casper, Wyoming, was built in 1973 and has undergone an almost complete interior remodel. The property includes four bedrooms and one-and-a-half bathrooms, with a configuration suited to residential rental use.
Positioned along the river, the property also provides convenient access to nearby walking paths. R3 zoning supports its residential classification, while current rental income adds an operating component for buyers evaluating the asset.
Positioned along the river, the property also provides convenient access to nearby walking paths. R3 zoning supports its residential classification, while current rental income adds an operating component for buyers evaluating the asset.
Key Highlights
- Riverfront duplex at 1159/1161 N Washington, Casper, WY 82601
- Four bedrooms and 1.5 bathrooms
- Interior has been nearly completely remodeled
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
$25,269
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
5.95%
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%
$505,380
$505.4K
Cap Rate 7%
$360,986
$361.0K
Cap Rate 9%
$280,767
$280.8K
Market Conditions
NOI Build-Up for 3,000 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
$37.8K $12.60/SF
− Vacancy
−$1.7K −$0.57/SF
EGI
$36.1K $12.03/SF
− OpEx
−$10.8K −$3.61/SF
NOI
$25.3K $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%
$505,380
Cap Rate 7%
$360,986
Cap Rate 9%
$280,767
Alternative Uses
Best Use
Multifamily LT 5
$361.0K
$315.9K – $421.2K
NOI $25,269 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$333.3K
$291.6K – $388.9K
NOI $23,331 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$669.8K
$586.1K – $781.4K
NOI $46,886 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
447
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with four bedrooms, one-and-a-half bathrooms, and access to nearby walking paths.
Where is this duplex located?
The property is located at 1159/1161 N Washington Casper, WY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Riverfront duplex at 1159/1161 N Washington, Casper, WY 82601; Four bedrooms and 1.5 bathrooms; Interior has been nearly completely remodeled
