Building Details

Year Built 2004

Buildings 1

Construction 2X6 construction

Listing Agency: RE/MAX Capitol Properties

Listed By: Steven Prescott Show Phone

Source: Cheyennehomesource

Added: Jan 18 Changed: Oct 1 Last Checked: Oct 16 at 8:59AM

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Investment Insights

Based on property information with market context.

This 3,952-square-foot quadplex was built in 2004 with 2X6 construction and includes four two-bedroom, one-bathroom units. Each residence has kitchen appliances, a washer and dryer, and a gas fireplace. Units are separately metered, while the property also provides off-street parking and landscaped yard areas.

Located at 1217 Taft Ave in Cheyenne, the property is near schools and parks. The HOA handles lawn care, snow removal, exterior building maintenance, building insurance, and liability insurance, providing a defined framework for ongoing property operations.

Key Highlights

• Four‑unit quadplex with 3,952 SF built in 2004
• All units offer 2 bedrooms and 1 bathroom
• Gas fireplaces and washer/dryer appliances in every unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,155

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$803,100 $803.1K

Cap Rate 7%

$573,643 $573.6K

Cap Rate 9%

$446,167 $446.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,952 SF

Gross rent

$60.7K $15.36/SF

− Vacancy

−$3.3K −$0.84/SF

EGI

$57.4K $14.52/SF

− OpEx

−$17.2K −$4.35/SF

NOI

$40.2K $10.16/SF

Area

Laramie County, WY

Vacancy

5.50%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$803,100

Cap Rate 7%

$573,643

Cap Rate 9%

$446,167

Alternative Uses

Best Use

Multifamily LT 5

$573.6K

$501.9K – $669.3K (±1% cap)

NOI $40,155 @ 7.0% cap · market cap 5.35%

Second Best

Apartment 5plus

$517.6K

$452.9K – $603.9K (±1% cap)

NOI $36,232 @ 7.0% cap · market cap 4.83%

Theoretical Best

Retail

$647.6K

$566.7K – $755.5K (±1% cap)

NOI $45,332 @ 7.0% cap · market cap 6.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

hahaliar Swimming Pool

Suggested Use

Top Pick Real Estate Agency Dental Office Parking Lot & Garage Hair Salon Nail Salon Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

199

Businesses Nearby

Explore this area Business Placement

Demographics for 82001, WY

37,528

Population

17,977

Households

2.1

Avg Household Size

36

Median Age

32%

College-Educated

95%

High-School Grad

55.1 sq mi

ZIP Area

681

Density / Sq Mi

$74,149

Median Household Income

$45,456

Median Earnings

$1,044

Median Rent

$291,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Residential income property with off-street parking, landscaped yard areas, and separately metered units.

Where is this quadplex located?

The property is located at 1217 Taft Ave Cheyenne, WY.

What is the asking price?

The asking price for this property is $749,900.

What are key features of this property?

This property features: Four‑unit quadplex with 3,952 SF built in 2004; All units offer 2 bedrooms and 1 bathroom; Gas fireplaces and washer/dryer appliances in every unit