Fenced-Yard
New
For Sale
$325,000
3326 ALEXANDER AVE, Cheyenne, WY 82001
Multi-Family, Cheyenne, WY
Property Size1,536 SF
Lot Size0.13 Acres
Price / SF$211.59
Days on Market4
Property Features for 3326 ALEXANDER AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Interior features
Cable Access, Window Covering
Exterior features
Deck, Lawn Sprinklers, Fence, Landscaped, Storage
Fencing
Fenced
Appliances
Dishwasher, Microwave, Range/Oven, Refrigerator
Subdivision
BLACKS REPLAT
Standard status
Active
Size
1,536 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLACK'S REPLAT: LOT 4, BLOCK 8
Tax Annual Amount
1189
Legal Description
BLACK'S REPLAT: LOT 4, BLOCK 8
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
2 large decks
fully fenced backyard
shed
sprinkler system
Building Details
Year built
1949
Number of units
2
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Kuzma Success Realty
(307) 638-8660
Listed By:
Barbara Kuzma · License #WY633
(307) 630-1070
Added: Sep 13
Changed: Sep 16
Last Checked: Sep 16 at 11:06PM
MLS# 102130
Copyright © 2026 Cheyenne MLS. 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.
This duplex offers 1,536 square feet on a 0.13-acre lot, with three bedrooms and two bathrooms. The property includes two large decks, a fully fenced backyard, a storage shed, and lawn sprinklers. Interior features include cable access and window coverings, while the kitchen is equipped with a dishwasher, microwave, range/oven, and refrigerator. Forced-air heating is powered by natural gas, with public water service and a composition roof.
Located at 3326 Alexander Ave in Cheyenne, the property provides street parking, a front driveway, and alley access at the rear. The home was built in 1949 and includes landscaped exterior areas and fenced outdoor space.
Located at 3326 Alexander Ave in Cheyenne, the property provides street parking, a front driveway, and alley access at the rear. The home was built in 1949 and includes landscaped exterior areas and fenced outdoor space.
Key Highlights
- 1,536‑square‑foot duplex on a 0.13‑acre lot
- Three bedrooms and two bathrooms
- Two large decks and a fully fenced backyard
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
$15,607
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
4.80%
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%
$312,140
$312.1K
Cap Rate 7%
$222,957
$223.0K
Cap Rate 9%
$173,411
$173.4K
Market Conditions
NOI Build-Up for 1,536 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
$23.6K $15.36/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$22.3K $14.52/SF
− OpEx
−$6.7K −$4.35/SF
NOI
$15.6K $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 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%
$312,140
Cap Rate 7%
$222,957
Cap Rate 9%
$173,411
Alternative Uses
Best Use
Multifamily LT 5
$223.0K
$195.1K – $260.1K
NOI $15,607 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$201.2K
$176.0K – $234.7K
NOI $14,082 @ 7.0% cap · market cap 4.33%
Theoretical Best
Retail
$251.7K
$220.2K – $293.7K
NOI $17,619 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,333
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom property with decks, alley access, and a landscaped backyard with storage.
Where is this duplex located?
The property is located at 3326 ALEXANDER AVE Cheyenne, WY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,536‑square‑foot duplex on a 0.13‑acre lot; Three bedrooms and two bathrooms; Two large decks and a fully fenced backyard
