Updated Duplex with Two-Car
For Sale
$389,900
1302 E 7th, Casper, WY 82601
Corner-lot duplex with separate entrances, laundry areas, and refreshed interiors.
Property Size2,700 SF
Days on Market115
Property Features for 1302 E 7th
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R4
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
storage shed
Building Details
Building Size
2,700 SF
Year Built
1968
Stories
1
Units
2
Listing Agency:
Cbc Cornerstone Real Estate
(307) 267-1190
Listed By:
Dorie Nelson · License #10235
(307) 267-1190
Source:
Century21bell
Added: May 4
Changed: Aug 22
Last Checked: Aug 26 at 9:33AM
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 Cbc Cornerstone Real Estate
Investment Insights
Based on property information with market context.
Located at 1302 and 1308 E. 7th in Casper, this duplex was built in 1968 and comprehensively refreshed. The upper residence contains three bedrooms, one bathroom, laundry hookups, and a large pantry. The lower residence provides two bedrooms, one bathroom, and a dedicated laundry area. Each unit has its own entrance, supporting separate occupancy arrangements.
Renovations include LVP flooring, new paint, updated windows with egress windows, countertops, doors, roofing, gutters, appliances, the central air coil, furnaces, and water heater. The corner-lot property also includes a storage shed and a two-car garage that may be divided to provide more distinct use for each residence. The property is zoned R4.
Renovations include LVP flooring, new paint, updated windows with egress windows, countertops, doors, roofing, gutters, appliances, the central air coil, furnaces, and water heater. The corner-lot property also includes a storage shed and a two-car garage that may be divided to provide more distinct use for each residence. The property is zoned R4.
Key Highlights
- Five‑bedroom duplex with three‑bedroom upper and two‑bedroom lower units
- Separate entrances and laundry areas for both residences
- Extensive updates include flooring, windows, roof, appliances, furnaces, and water heater
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
$22,742
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
5.83%
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%
$454,840
$454.8K
Cap Rate 7%
$324,886
$324.9K
Cap Rate 9%
$252,689
$252.7K
Market Conditions
NOI Build-Up for 2,700 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
$34.0K $12.60/SF
− Vacancy
−$1.5K −$0.57/SF
EGI
$32.5K $12.03/SF
− OpEx
−$9.7K −$3.61/SF
NOI
$22.7K $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%
$454,840
Cap Rate 7%
$324,886
Cap Rate 9%
$252,689
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.0K
NOI $22,742 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$300.0K
$262.5K – $350.0K
NOI $20,998 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$602.8K
$527.5K – $703.3K
NOI $42,198 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,509
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?
Duplex - Corner-lot duplex with separate entrances, laundry areas, and refreshed interiors.
Where is this duplex located?
The property is located at 1302 E 7th Casper, WY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Five‑bedroom duplex with three‑bedroom upper and two‑bedroom lower units; Separate entrances and laundry areas for both residences; Extensive updates include flooring, windows, roof, appliances, furnaces, and water heater
