Updated Four-Unit Apartment
For Sale
$480,000
2561 S Jefferson, Casper, WY 82601
R3-zoned multifamily property with renovated units and on-site security infrastructure.
Property Size3,744 SF
Days on Market100
Property Features for 2561 S Jefferson
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multi Family Home
Zoning
R3
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
onsite camera security system
onsite data storage
Building Details
Building Size
3,744 SF
Year Built
1979
Stories
2
Units
4
Listing Agency:
Vertical Realty Group, LLC
(307) 262-7768
Listed By:
James Downs
(307) 262-7768
Source:
Century21bell
Added: May 4
Changed: Aug 9
Last Checked: Aug 10 at 12:08PM
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 Vertical Realty Group, LLC
Investment Insights
Based on property information with market context.
Built in 1979, this R3-zoned quadplex contains four two-bedroom, one-bathroom units. Each apartment includes an open living area and a functional kitchen layout. Plumbing improvements and substantial remodeling have been completed across the units during the past 4 years.
The property also includes an on-site camera security system with on-site data storage. Located at 2561 S Jefferson in Casper, Wyoming, the building offers a defined four-unit configuration for multifamily ownership.
The property also includes an on-site camera security system with on-site data storage. Located at 2561 S Jefferson in Casper, Wyoming, the building offers a defined four-unit configuration for multifamily ownership.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1‑bathroom apartments
- R3 zoning supports the multifamily property classification
- Substantial remodeling completed across the units during the past 4 years
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
$31,536
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
6.57%
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%
$630,720
$630.7K
Cap Rate 7%
$450,514
$450.5K
Cap Rate 9%
$350,400
$350.4K
Market Conditions
NOI Build-Up for 3,744 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
$47.2K $12.60/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$45.1K $12.03/SF
− OpEx
−$13.5K −$3.61/SF
NOI
$31.5K $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%
$630,720
Cap Rate 7%
$450,514
Cap Rate 9%
$350,400
Alternative Uses
Best Use
Multifamily LT 5
$450.5K
$394.2K – $525.6K
NOI $31,536 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$416.0K
$364.0K – $485.3K
NOI $29,117 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 12.19%
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
2,289
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?
Quadplex - R3-zoned multifamily property with renovated units and on-site security infrastructure.
Where is this quadplex located?
The property is located at 2561 S Jefferson Casper, WY.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1‑bathroom apartments; R3 zoning supports the multifamily property classification; Substantial remodeling completed across the units during the past 4 years
