Updated Duplex with In-Unit
For Sale
$199,900
Pending
1416 E Burlington Ave, Casper, WY 82601
One unit is available now, while the second is leased through 2027.
Property Size1,470 SF
Days on Market48
Property Features for 1416 E Burlington Ave
General Information
Standard status
Pending
Size
1,470 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$164,000
Listing Agency:
LPT Realty
(307) 871-2521
Listed By:
Nathaniel Steinhoff · License #12926
(307) 871-2521
Source:
Exprealty
Added: Jul 16
Changed: Aug 31
Last Checked: Aug 31 at 7:16PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This duplex contains two renovated residential units, each offering 735 square feet of living space. The interiors include functional layouts and updated finishes, with a washer and dryer provided inside each unit. Total property size is 1,470 square feet.
One unit is currently available for occupancy, while the other is leased through 2027. The property is located at 1416 E Burlington Ave in Casper, Wyoming, and its two-unit configuration supports either an owner-occupant arrangement or continued rental use.
One unit is currently available for occupancy, while the other is leased through 2027. The property is located at 1416 E Burlington Ave in Casper, Wyoming, and its two-unit configuration supports either an owner-occupant arrangement or continued rental use.
Key Highlights
- Two‑unit duplex with 1,470 square feet total
- Each unit provides 735 square feet of living space
- Both units feature renovated interiors and updated finishes
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
$12,382
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
6.19%
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%
$247,640
$247.6K
Cap Rate 7%
$176,886
$176.9K
Cap Rate 9%
$137,578
$137.6K
Market Conditions
NOI Build-Up for 1,470 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
$18.5K $12.60/SF
− Vacancy
−$833 −$0.57/SF
EGI
$17.7K $12.03/SF
− OpEx
−$5.3K −$3.61/SF
NOI
$12.4K $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%
$247,640
Cap Rate 7%
$176,886
Cap Rate 9%
$137,578
Alternative Uses
Best Use
Multifamily LT 5
$176.9K
$154.8K – $206.4K
NOI $12,382 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$163.3K
$142.9K – $190.5K
NOI $11,432 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$328.2K
$287.2K – $382.9K
NOI $22,974 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,438
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 - One unit is available now, while the second is leased through 2027.
Where is this duplex located?
The property is located at 1416 E Burlington Ave Casper, WY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,470 square feet total; Each unit provides 735 square feet of living space; Both units feature renovated interiors and updated finishes
