Turnkey 4-Plex with In-Unit
For Sale
$555,000
2044 Westwood Hill, Casper, WY 82604
This fully occupied 4-plex features four 2-bedroom, 1-bath units with in-unit laundry.
Property Size3,886 SF
Price / SF$142.82
Days on Market125
Property Features for 2044 Westwood Hill
General Information
Standard status
Active
Size
3,886 SF
Property subtype
Multi-family / Four-Plex
Zoning
C2
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,175
Amenities
in-unit laundry
landscaped yard
sprinkler system
Rocky Mountain Power
Double Pane Windows, Carpet
Range/Oven, Refrigerator
Concrete
Architectural
Brick
Brick, Wood Frame
Landscaped
No
Building Details
Year Built
1956
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Colton "CJ" Golay · License #RE-16586
(307) 243-4551
Source:
Compass
Added: May 6
Changed: Aug 8
Last Checked: Jul 23 at 1:29PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This turnkey 4-plex is currently fully occupied with no vacancy. Each of the four units includes two bedrooms, one bathroom, and in-unit laundry, offering a consistent layout across the property.
The building has a full brick exterior and sits on a landscaped yard with front-and-back sprinkler coverage. The property has also received thoughtful updates over the years.
Located at 2044 Westwood Hill in Casper, Wyoming, the asset is set up for straightforward ownership with all four units in place and generating rental income.
The building has a full brick exterior and sits on a landscaped yard with front-and-back sprinkler coverage. The property has also received thoughtful updates over the years.
Located at 2044 Westwood Hill in Casper, Wyoming, the asset is set up for straightforward ownership with all four units in place and generating rental income.
Key Highlights
- Fully occupied 4‑plex with four 2‑bedroom, 1‑bath units
- In‑unit laundry in each of the four units
- Double pane windows and carpet flooring
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
$32,732
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
5.90%
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%
$654,640
$654.6K
Cap Rate 7%
$467,600
$467.6K
Cap Rate 9%
$363,689
$363.7K
Market Conditions
NOI Build-Up for 3,886 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
$49.0K $12.60/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$46.8K $12.03/SF
− OpEx
−$14.0K −$3.61/SF
NOI
$32.7K $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%
$654,640
Cap Rate 7%
$467,600
Cap Rate 9%
$363,689
Alternative Uses
Best Use
Multifamily LT 5
$467.6K
$409.2K – $545.5K
NOI $32,732 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$431.7K
$377.8K – $503.7K
NOI $30,222 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$867.6K
$759.2K – $1.01M
NOI $60,734 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 82604, WY
26,539
Population
11,589
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
1,048.4 sq mi
ZIP Area
25
Density / Sq Mi
$75,683
Median Household Income
$41,825
Median Earnings
$1,090
Median Rent
$270,800
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 - This fully occupied 4-plex features four 2-bedroom, 1-bath units with in-unit laundry.
Where is this quadplex located?
The property is located at 2044 Westwood Hill Casper, WY.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Fully occupied 4‑plex with four 2‑bedroom, 1‑bath units; In‑unit laundry in each of the four units; Double pane windows and carpet flooring
