Triplex With Renovation
For Sale
$360,000
952 & 954 S Jackson, Casper, WY 82601
Three-unit property with two occupied residences and a gutted unit ready for completion.
Property Size2,800 SF
Days on Market62
Property Features for 952 & 954 S Jackson
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi Family Home
Zoning
R2
Additional Details
Multifamily Units
3
Building Details
Building Size
2,800 SF
Year Built
1949
Stories
1
Units
3
Listing Agency:
Zest
(307) 259-5958
Listed By:
Cj Lovato · License #12035
(307) 259-5958
Source:
Tcrwyoming
Added: Jun 11
Changed: Aug 7
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 Zest
Investment Insights
Based on property information with market context.
This R2-zoned triplex combines a front single-family residence with a rear duplex across the property at 952 & 954 S. Jackson and 1010 E. 10th St. Two units are occupied, while the lower duplex residence has been stripped for renovation and is not currently leased.
Property improvements include a gravel driveway at the front house and substantial work at the duplex. The duplex improvements include new gutters, concrete drainage and patio work, a replacement door, a new footer, and a rebuilt stabilizing wall. Electrical and plumbing systems have also been updated. On-site and off-street parking serve the property. Originally built in 1949, the three-unit configuration offers existing occupancy alongside a unit requiring completion.
Property improvements include a gravel driveway at the front house and substantial work at the duplex. The duplex improvements include new gutters, concrete drainage and patio work, a replacement door, a new footer, and a rebuilt stabilizing wall. Electrical and plumbing systems have also been updated. On-site and off-street parking serve the property. Originally built in 1949, the three-unit configuration offers existing occupancy alongside a unit requiring completion.
Key Highlights
- Three‑unit configuration with a front single‑family home and rear duplex
- Two of the three units are currently occupied
- Lower duplex unit is gutted and ready for renovation
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
$23,585
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
6.55%
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%
$471,700
$471.7K
Cap Rate 7%
$336,929
$336.9K
Cap Rate 9%
$262,056
$262.1K
Market Conditions
NOI Build-Up for 2,800 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
$35.3K $12.60/SF
− Vacancy
−$1.6K −$0.57/SF
EGI
$33.7K $12.03/SF
− OpEx
−$10.1K −$3.61/SF
NOI
$23.6K $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%
$471,700
Cap Rate 7%
$336,929
Cap Rate 9%
$262,056
Alternative Uses
Best Use
Multifamily LT 5
$336.9K
$294.8K – $393.1K
NOI $23,585 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$311.1K
$272.2K – $362.9K
NOI $21,776 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$625.2K
$547.0K – $729.4K
NOI $43,761 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with two occupied residences and a gutted unit ready for completion.
Where is this triplex located?
The property is located at 952 & 954 S Jackson Casper, WY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Three‑unit configuration with a front single‑family home and rear duplex; Two of the three units are currently occupied; Lower duplex unit is gutted and ready for renovation
