Quadplex With In-Unit
For Sale
$415,000
1405 E 12th St, Gillette, WY 82716
Updated four-unit property with two-level layouts and laundry provided within every residence.
Property Size4,008 SF
Price / SF$103.54
Days on Market52
Property Features for 1405 E 12th St
General Information
Standard status
Active
Size
4,008 SF
Property subtype
Multi-Family
Units
Unit Mix
2BR/2BA
Multifamily Units
4
Amenities
in-unit laundry
Building Details
Year Built
1980
Listing Agency:
ERA Priority Real Estate
(307) 686-9200
Listed By:
Erica Tucker · License #20060501163045783538000000
Source:
411propertiesrealestate
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 8:59PM
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 ERA Priority Real Estate
Investment Insights
Based on property information with market context.
Built in 1980, this 4,008-square-foot quadplex includes four two-level residences. Each unit offers 2 bedrooms, 2 bathrooms, and its own laundry area, creating a consistent layout across the property. The building has also been updated.
Located at 1405 E 12th St in Gillette, Wyoming, the property provides four separate residential units within one income-producing asset. Its unit count, bedroom-and-bathroom configuration, and in-unit laundry setup offer a clearly defined multifamily format for continued rental use.
Located at 1405 E 12th St in Gillette, Wyoming, the property provides four separate residential units within one income-producing asset. Its unit count, bedroom-and-bathroom configuration, and in-unit laundry setup offer a clearly defined multifamily format for continued rental use.
Key Highlights
- Four‑unit quadplex with 4,008 square feet
- Each residence includes 2 bedrooms and 2 bathrooms
- Two‑level layout in all four units
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
$33,406
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
8.05%
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%
$668,120
$668.1K
Cap Rate 7%
$477,229
$477.2K
Cap Rate 9%
$371,178
$371.2K
Market Conditions
NOI Build-Up for 4,008 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
$50.5K $12.60/SF
− Vacancy
−$2.8K −$0.69/SF
EGI
$47.7K $11.91/SF
− OpEx
−$14.3K −$3.57/SF
NOI
$33.4K $8.33/SF
Area
Campbell County, WY
Vacancy
5.50%
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%
$668,120
Cap Rate 7%
$477,229
Cap Rate 9%
$371,178
Alternative Uses
Best Use
Multifamily LT 5
$477.2K
$417.6K – $556.8K
NOI $33,406 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$440.6K
$385.6K – $514.1K
NOI $30,845 @ 7.0% cap · market cap 7.43%
Theoretical Best
Specialty Retail
$703.7K
$615.7K – $821.0K
NOI $49,258 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 82716, WY
17,094
Population
7,771
Households
2.2
Avg Household Size
36
Median Age
16%
College-Educated
93%
High-School Grad
1,182.7 sq mi
ZIP Area
14
Density / Sq Mi
$77,169
Median Household Income
$45,276
Median Earnings
$890
Median Rent
$234,700
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?
Quadplex - Updated four-unit property with two-level layouts and laundry provided within every residence.
Where is this quadplex located?
The property is located at 1405 E 12th St Gillette, WY.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4,008 square feet; Each residence includes 2 bedrooms and 2 bathrooms; Two‑level layout in all four units
