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    Property profile & analytics

    321 18th St Cheyenne, WY 82001-4613

    • Residential income homes
    • 3,040 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0002061
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 321 18th St

    Year built
    1916
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    3,040 SF
    Zone code
    MUR
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    11001035900010
    APU
    11001035900010

    Description

    This well-maintained, 1916-built, two-story Class B apartment building at 321 E 18th St, Cheyenne, Wyoming, presents a compelling value-add investment opportunity. The property consists of a four-unit apartment building (4-plex) totaling 3,446 square feet, situated on a corner lot in a prime location just blocks from Cheyenne Regional Medical Center and downtown Cheyenne. Each unit offers one bedroom and one bathroom. Ground floor units feature individual entrances, while the second-floor units access a shared corridor via a charming spiral staircase. Convenient on-site coin-operated laundry facilities are located in the basement for tenant use. The property provides one off-street parking space per unit. The xeriscaped grounds require minimal maintenance. This Laramie County property offers easy access to local amenities and presents a strong potential for rental income growth. The asking price is $495,000. This is a freehold property, not subject to a ground lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $243,000
      Market price range: $203k - $381k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.812
    Latitude
    41.1359
    CBSA code
    16940
    CBSA name
    CHEYENNE, WY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,478
    $3,549
    $31,461
    $35,010
    -
    $37,363
    $331,170
    $368,533

    Comparable in this City

    • Value Estimation
      $230,000
      1,159 SF

      1615 13th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,159 SF
      1615 13th St, Cheyenne, WY 82001-4954
      View Details
    • Value Estimation
      $230,000
      1,683 SF

      1610 Pebrican Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,683 SF
      1610 Pebrican Ave, Cheyenne, WY 82001-4782
      View Details
    • Value Estimation
      $245,000
      2,425 SF

      3326 Van Velzor Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,425 SF
      3326 Van Velzor Ave, Cheyenne, WY 82001-1987
      View Details
    • Value Estimation
      $245,000
      2,425 SF

      4319 Cheyenne St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,425 SF
      4319 Cheyenne St, Cheyenne, WY 82001-8000
      View Details
    • Value Estimation
      $245,000
      2,425 SF

      4319 Cox Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,425 SF
      4319 Cox Ct, Cheyenne, WY 82001-2058
      View Details
    • Value Estimation
      $240,000
      1,739 SF

      1706 Hot Spgs Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,739 SF
      1706 Hot Spgs Ave, Cheyenne, WY 82001-5336
      View Details

    Similar Nearby for Sale

    • $325,000
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      Cheyenne Duplex: Investment Opportunity

      Well-maintained duplex near amenities and FE Warren Air Force Base.
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      Cheyenne 4-Plex Investment Property

      Excellent investment opportunity in Cheyenne, all units currently occupied.
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    • $480,000
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      Historic Duplex with Rental Potential

      Updated 5-bedroom home or duplex in historic Cheyenne.
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      Cheyenne Mixed-Use Property For Sale

      Mixed-use property with office and apartment in high-traffic location.
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      Remodeled Duplex with Garage Rentals

      Centrally located, remodeled duplex with additional rental income.
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    Similar Nearby for Lease

    • $24 SF/Yr
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      Cheyenne Office Space For Rent

      10,500 SF office space available for lease.
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    • $10 SF/Yr
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      Cheyenne Retail Space Available

      6,300 SF retail space for lease in Cheyenne, Wyoming.
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    • Contact for pricing
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      Cheyenne Warehouse Space Available

      2566 square foot warehouse space for rent in Cheyenne.
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      15,000 SF

      Cheyenne Office/Medical Space Available

      15,000 SF office/medical space in excellent Cheyenne location.
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    • $15 SF/Yr
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      Cheyenne Office Space For Rent

      Office space available for lease in Cheyenne, Wyoming.
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      View Details
    • $10 SF/Yr
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      Cheyenne Warehouse: 20,800 SF

      Spacious Cheyenne warehouse, ideal for contractors. Large yard available.
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      View Details
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    321 18th St
    Cheyenne, WY 82001-4613
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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