Residential Rental Property With
602 West 13th Street Casper, WY 82601
602 West 13th Street, Casper, WY, 82601
$480,000
For Sale
$480,000
Two-building residential rental property with five units and potential upside.
Property Size4,156 SF
Price / SF$115.50
Days on Market169
Property Features for 602 West 13th Street
General Information
- Standard status
- Active
- Size
- 4,156 SF
- Property subtype
- Multi-family / Multi-Family 4+
Building Details
- Year Built
- 1937
Listing Agency
RE/MAX The Group
(307) 265-0200
Listed by
Jamie Shopp · License #2875
(307) 265-0200
Source
Compass
Added: Jan 30 Checked: Jul 17 at 3:57 am
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 RE/MAX The Group
Investment Insights
Based on property information with market context.
This residential rental property comprises two buildings and offers five rental units, with the potential for two additional units through renovation. The property benefits from mature landscaping supported by an automatic sprinkler system. One unit features two bedrooms, a fireplace, original red oak floors, a tiled sunroom with a loft, a washer and dryer, a garage, a workshop, and a 22x22 redwood deck. The remaining units consist of one bedroom and one bathroom. Exterior improvements include painting of the annex building and garage in 2023, a new EIFS exterior installed in 2019, and steel awnings for energy efficiency and noise reduction. A new boiler was installed in 2017, and a newer hot water heater is expected in 2025. The property is located within walking distance of downtown, Casper College, and elementary, middle, and high schools. With significant capital improvements and established rental income, this property presents upside potential. The property size is 4156 square feet.
Key Highlights
- Established rental income with upside potential from 5 units and potential for 2 additional units.
- Significant capital improvements including new EIFS exterior (2019), steel awnings, and newer hot water heater (2025).
- Prime location: walking distance to downtown, Casper College, and schools.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.3k | $14.76 |
| − Vacancy | −$2.6k | −$0.62 |
| EGI | $58.8k | $14.14 |
| − OpEx | −$26.4k | −$6.36 |
| NOI | $32.3k | $7.78 |
4,156 SF · lease $14.76/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$461.7K
$404.0K – $538.7K
NOI $32,321 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.9K
$811.9K – $1.08M
NOI $64,953 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two-building residential rental property with five units and potential upside.
Where is this apartment building located?
The property is located at 602 West 13th Street 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: Established rental income with upside potential from 5 units and potential for 2 additional units.; Significant capital improvements including new EIFS exterior (2019), steel awnings, and newer hot water heater (2025).; Prime location: walking distance to downtown, Casper College, and schools.
