Two-Unit Duplex with Separate
For Sale
$465,000
1412 Madison Ave, Cheyenne, WY 82001
Currently unoccupied, the two residences can support a range of owner-use and leasing arrangements.
Property Size3,272 SF
Price / SF$142.11
Days on Market64
Property Features for 1412 Madison Ave
General Information
Standard status
Active
Size
3,272 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 5BR/2.5BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
Carpeted
Building Details
Building Size
3,272 SF
Year Built
1956
Units
2
Listing Agency:
Real Broker, LLC
Listed By:
Jp Fluellen · License #12637
(307) 772-1184
Source:
Frontierhomeandranch
Added: Aug 24
Changed: Oct 25
Last Checked: Oct 26 at 3:56AM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 3,272-square-foot duplex contains two separately serviced residences. The larger unit spans approximately 2,384 square feet and has five bedrooms, 2.5 bathrooms, multiple living areas, and generous storage. The second residence measures approximately 888 square feet, with one bedroom, one bathroom, a kitchen, living area, and laundry hookups; its rooms are all on one level. Bathroom updates, varied flooring, and mature trees are among the property’s features. Both residences are vacant, and the smaller unit has been used for long- and short-term rentals.
The grounds include a fenced yard, patio, and off-street parking. The property is near schools, parks, shopping, restaurants, medical facilities, and downtown Cheyenne. Built in 1956, the duplex offers two distinct living spaces with separate utilities and outdoor areas.
The grounds include a fenced yard, patio, and off-street parking. The property is near schools, parks, shopping, restaurants, medical facilities, and downtown Cheyenne. Built in 1956, the duplex offers two distinct living spaces with separate utilities and outdoor areas.
Key Highlights
- Two residences totaling 3,272 square feet
- Larger unit: approximately 2,384 square feet, five bedrooms, and 2.5 bathrooms
- Second unit: approximately 888 square feet, one bedroom, and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,246
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,920
$664.9K
Cap Rate 7%
$474,943
$474.9K
Cap Rate 9%
$369,400
$369.4K
Market Conditions
NOI Build-Up for 3,272 SF
Gross rent
$50.3K $15.36/SF
− Vacancy
−$2.8K −$0.84/SF
EGI
$47.5K $14.52/SF
− OpEx
−$14.2K −$4.35/SF
NOI
$33.2K $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%
$664,920
Cap Rate 7%
$474,943
Cap Rate 9%
$369,400
Alternative Uses
Best Use
Multifamily LT 5
$474.9K
$415.6K – $554.1K
NOI $33,246 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$428.5K
$375.0K – $500.0K
NOI $29,998 @ 7.0% cap · market cap 6.45%
Theoretical Best
Retail
$536.2K
$469.2K – $625.5K
NOI $37,532 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Currently unoccupied, the two residences can support a range of owner-use and leasing arrangements.
Where is this duplex located?
The property is located at 1412 Madison Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two residences totaling 3,272 square feet; Larger unit: approximately 2,384 square feet, five bedrooms, and 2.5 bathrooms; Second unit: approximately 888 square feet, one bedroom, and one bathroom
