Updated Duplex with Fenced
New
For Sale
$479,900
1412 MADISON AVE, Cheyenne, WY 82001
MULTI_FAMILY - Cheyenne, WY
Property Size3,272 SF
Lot Size0.31 Acres
Price / SF$146.67
Days on Market3
Property Features for 1412 MADISON AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 5
Patio and Porch features
Patio
Interior features
Carpeted
Exterior features
Patio, Fence, Storage
Fencing
Fenced
Appliances
Dishwasher, Disposal, Microwave, Range/Oven, Refrigerator
Subdivision
MARTIN
Standard status
Active
Size
3,272 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MARTIN SUBDIVISION: LOT 3, TRACT 7, LESS THE NORTH
Legal Description
MARTIN SUBDIVISION: LOT 3, TRACT 7, LESS THE NORTH
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fenced yard
patio
mature trees
Building Details
Year built
1956
Number of units
2
Building materials
Block
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Real Broker, LLC
(307) 772-1184
Listed By:
JP Fluellen · License #12637
(307) 772-1184
Added: Jul 31
Changed: Aug 1
Last Checked: Aug 2 at 12:06AM
MLS# 101610
Copyright © 2026 Cheyenne Board of 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.
1412 Madison Avenue is an updated duplex offering two distinct living units with separate utilities. Both units are currently vacant, giving the next owner flexibility to occupy one unit, lease both units, or create a combined arrangement for multiple household needs.
The larger unit provides approximately 2,384 square feet with five bedrooms and 2.5 bathrooms, along with multiple living areas, generous storage, updated bathrooms, neutral finishes, and abundant natural light. The second unit offers approximately 888 square feet of all-main-level living with one bedroom and one bathroom, including its own kitchen, living area, laundry hookups, and private living space.
Outside, the property includes a large fenced yard, patio, mature trees, and ample off-street parking. Additional features include forced air natural gas heating, a composition roof, and block construction. The home sits on a 0.31-acre lot with public water.
The larger unit provides approximately 2,384 square feet with five bedrooms and 2.5 bathrooms, along with multiple living areas, generous storage, updated bathrooms, neutral finishes, and abundant natural light. The second unit offers approximately 888 square feet of all-main-level living with one bedroom and one bathroom, including its own kitchen, living area, laundry hookups, and private living space.
Outside, the property includes a large fenced yard, patio, mature trees, and ample off-street parking. Additional features include forced air natural gas heating, a composition roof, and block construction. The home sits on a 0.31-acre lot with public water.
Key Highlights
- Two‑unit duplex with separate utilities; both units currently vacant
- Approximately 3,272 total square feet across both units
- Larger unit: approximately 2,384 square feet with 5 bedrooms and 2.5 bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $15.36 |
| − Vacancy | −$2.8k | −$0.84 |
| EGI | $47.5k | $14.52 |
| − OpEx | −$14.2k | −$4.35 |
| NOI | $33.2k | $10.16 |
3,272 SF · lease $15.36/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$474.9K
$415.6K – $554.1K
NOI $33,246 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$428.5K
$375.0K – $500.0K
NOI $29,998 @ 7.0% cap · market cap 6.25%
Theoretical Best
Retail
$536.2K
$469.2K – $625.5K
NOI $37,532 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with two separate units, both vacant, featuring separate utilities, a patio, and a large fenced yard.
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 $479,900.
What are key features of this property?
This property features: Two‑unit duplex with separate utilities; both units currently vacant; Approximately 3,272 total square feet across both units; Larger unit: approximately 2,384 square feet with 5 bedrooms and 2.5 bathrooms
