Updated Fourplex with In-Unit
For Sale
$415,000
Pending
1409 E 12th St, Gillette, WY 82716
Income Producing, Gillette, WY
Property Size4,052 SF
Lot Size0.05 Acres
Days on Market54
Property Features for 1409 E 12th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 1, Bedroom 5, Bathroom 5, Bedroom 2, Bathroom 8, Bathroom 4, Bedroom 6, Bathroom 6, Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 7, Bedroom 4, Bedroom 7, Bedroom 1, Bedroom 8
Appliances
Yes
Directions
Hwy 59, left on E 12th St
Subdivision
Eastside Area - Gillette
Standard status
Pending
Size
4,052 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
1685
Amenities
in-unit laundry
Building Details
Year built
1980
Number of units
4
Listing Agency:
ERA Priority Real Estate · ERA Real Estate
(307) 686-9200
Listed By:
Erica Tucker · License #11069
(307) 686-9200
Added: Jul 6
Changed: Aug 26
Last Checked: Aug 28 at 4:06PM
MLS# 26-795
Copyright © 2026 Northeast Wyoming REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,052-square-foot quadplex contains four two-level units with a consistent layout across the property. Each residence includes two bedrooms, two bathrooms, and in-unit laundry, creating an eight-bedroom, eight-bathroom configuration overall. The improvements have been updated, and the building was constructed in 1980.
The property occupies a 0.05-acre lot at 1409 E 12th St in Gillette, Wyoming, within Campbell County. R-4 zoning supports its multifamily classification. Its four-unit design and uniform floor plans provide a straightforward physical configuration for evaluating the asset.
The property occupies a 0.05-acre lot at 1409 E 12th St in Gillette, Wyoming, within Campbell County. R-4 zoning supports its multifamily classification. Its four-unit design and uniform floor plans provide a straightforward physical configuration for evaluating the asset.
Key Highlights
- Four‑unit quadplex with four two‑level residences
- Each unit has 2 bedrooms and 2 bathrooms
- In‑unit laundry included in every residence
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
$33,773
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
8.14%
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%
$675,460
$675.5K
Cap Rate 7%
$482,471
$482.5K
Cap Rate 9%
$375,256
$375.3K
Market Conditions
NOI Build-Up for 4,052 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
$51.1K $12.60/SF
− Vacancy
−$2.8K −$0.69/SF
EGI
$48.2K $11.91/SF
− OpEx
−$14.5K −$3.57/SF
NOI
$33.8K $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%
$675,460
Cap Rate 7%
$482,471
Cap Rate 9%
$375,256
Alternative Uses
Best Use
Multifamily LT 5
$482.5K
$422.2K – $562.9K
NOI $33,773 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$445.5K
$389.8K – $519.7K
NOI $31,184 @ 7.0% cap · market cap 7.51%
Theoretical Best
Specialty Retail
$711.4K
$622.5K – $830.0K
NOI $49,799 @ 7.0% cap · market cap 12.00%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-level units each include two bedrooms, two bathrooms, and laundry facilities.
Where is this quadplex located?
The property is located at 1409 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 four two‑level residences; Each unit has 2 bedrooms and 2 bathrooms; In‑unit laundry included in every residence
