Duplex with Steel-Framed
3507 CODY LN, Cheyenne, WY 82009
For Sale
$899,000
Multi-Family, 1 STORY, Cheyenne, WY
Property Size5,552 SF
Lot Size4.40 Acres
Price / SF$161.92
Days on Market49
Property Features for 3507 CODY LN
General Information
Property type
Property subtype
Patio and Porch features
Exterior features
Fencing
Appliances
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Amenities
hardwood floors
granite countertops
gas range
concrete patio
jetted tub
walk-in shower
heated garage
breezeway
in-floor heat
whole-home generator connection
RV hookups
fenced yard
steel-framed shop
spray-foam insulation
metal roof
separate entrance
French doors
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
Century 21 Bell Real Estate · Century 21 Real Estate
(307) 635-0336
Listed By:
Brittney Kotunok
(307) 262-9647
Added: Sep 25
Changed: Oct 27
Last Checked: Nov 12 at 8:06PM
MLS# 102227
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.
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Investment Insights
Based on property information with market context.
Built in 2023, this 5,552-square-foot duplex sits on 4.4 acres and includes a 60-by-80-foot steel-framed shop with electricity and three 14-foot overhead doors. The main level has an open living, dining, and kitchen area, three bedrooms, and a full bathroom. The lower level features a second kitchen, living room, recreation room, two bedrooms, and a full bathroom, with French doors opening toward the rear patio. A separate entrance serves the lower level.
The home also includes a heated three-car garage, with a 36-foot-deep third bay, and a heated, cooled breezeway connecting to the laundry room. Heating and cooling include two forced-air furnaces with A/C, plus in-floor heat on both levels. A 1,200-square-foot concrete patio, fenced grounds, metal roof, spray-foam insulation, and RV connections with 50-amp, 30-amp, and 20-amp service complete the property.
The home also includes a heated three-car garage, with a 36-foot-deep third bay, and a heated, cooled breezeway connecting to the laundry room. Heating and cooling include two forced-air furnaces with A/C, plus in-floor heat on both levels. A 1,200-square-foot concrete patio, fenced grounds, metal roof, spray-foam insulation, and RV connections with 50-amp, 30-amp, and 20-amp service complete the property.
Key Highlights
- 5,552‑square‑foot duplex on 4.4 acres; built in 2023
- 60‑by‑80‑foot steel‑framed shop with electricity and three 14‑foot overhead doors
- Lower level has a full kitchen, separate entrance, living room, recreation room, two bedrooms, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,412
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,128,240
$1.1M
Cap Rate 7%
$805,886
$805.9K
Cap Rate 9%
$626,800
$626.8K
Market Conditions
NOI Build-Up for 5,552 SF
Gross rent
$85.3K $15.36/SF
− Vacancy
−$4.7K −$0.84/SF
EGI
$80.6K $14.52/SF
− OpEx
−$24.2K −$4.35/SF
NOI
$56.4K $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 Rate 5%
$1,128,240
Cap Rate 7%
$805,886
Cap Rate 9%
$626,800
Alternative Uses
Best Use
Multifamily LT 5
$805.9K
$705.2K – $940.2K
NOI $56,412 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$727.2K
$636.3K – $848.4K
NOI $50,901 @ 7.0% cap · market cap 5.66%
Theoretical Best
Retail
$909.8K
$796.1K – $1.06M
NOI $63,685 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
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Trade Area within ½ mile
8
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Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cheyenne, WY
Properties on Market for Duplexes in Cheyenne
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two levels provide separate living areas, with a full kitchen and exterior entrance on the lower level.
Where is this duplex located?
The property is located at 3507 CODY LN Cheyenne, WY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,552‑square‑foot duplex on 4.4 acres; built in 2023; 60‑by‑80‑foot steel‑framed shop with electricity and three 14‑foot overhead doors; Lower level has a full kitchen, separate entrance, living room, recreation room, two bedrooms, and full bathroom
