Case Study: DSCR STR Loan in Cheyenne, WY
The deal was underwritten using both short-term and long-term rental income. Ridge Street closed the DSCR loan in under 30 days. See how it was structured.
nmin readReleased on:October 7, 2026Last updated on:October 7, 2026
ABOUT THE DEAL
A three-bedroom, four-bathroom single-family in Cheyenne, Wyoming, purchased at $435,000 in September 2026 to operate as a short-term vacation rental. Cheyenne is Wyoming's state capital and home to F.E. Warren Air Force Base, which produces year-round rental demand from military personnel, state government workers, and remote workers relocating from higher-cost western metros. The investor acquired the property with plans to run it as an Airbnb. Ridge Street Capital financed this purchase as its first DSCR loan in Wyoming, through its short-term rental loan program.
WHAT MADE IT SPECIAL
- This deal qualifies on long-term rental income alone. Long-term market rent comps produce a DSCR above 1.30 on this property. The investor chose the STR program because Airbnb is the operating intent, not because long-term rent falls below the qualifying threshold. Ridge Street Capital underwrote both income scenarios. The deal's fundamentals hold on either rental strategy.
- Closed in under 30 days. The loan funded within 30 days of contract execution. It was a clean execution timeline on Ridge Street Capital's first deal in a new state.
- Appraised above purchase. The property appraised at $445,000 against a $435,000 purchase price, producing $10,000 in built equity at closing. Ridge Street Capital structured this as a DSCR loan under an LLC and funded within 30 days of contract execution.
THE RESULT
The completed DSCR loan purchase delivered an Airbnb-ready single-family in Cheyenne, Wyoming, at 80% LTV.
- Loan Amount: $348,000 (30-Year, 5/6 ARM, STR DSCR Purchase)
- Rate: 6.075%
- LTV: 80%
- LTR DSCR: 1.31x
MORE ABOUT RIDGE STREET CAPITAL
Ridge Street Capital provides fix and flip loans, DSCR rental loans, and ground-up construction financing to real estate investors across 36 states. Our focus is exclusively on investment properties, which means every deal we evaluate gets the attention of a team that has seen the full range of what makes an investment work or fail.
If you want a lender who will tell you clearly whether a deal makes sense and move fast when it does, submit the application.
Zach Cohen is the Managing Partner of Ridge Street Capital, a direct private lender providing hard money and DSCR loans to real estate investors across 36 states. Under his leadership, the firm has funded nearly $100 million in investment property loans. He regularly works with real estate investors on rental property acquisitions, refinances, and fix-and-flip projects across the country.
Fix and Flip Loans
Funding For Purchase + Rehab
- $50,000 up to $3,000,000
- Interest Rate 10.5%-11.5%
- Origination Fee From 1.5%
- Up to 90% of Purchase and 100% of Rehab
DSCR Loans For Long Term Rentals
Perfect for first-time investors or experienced investors scaling their rental portfolio.
- Up to $2,000,000
- Interest Rates from 6.0%
- Origination Fee From 0%
- Up to 80% of LTV
DSCR Loans For Short Term Rentals
Designed for investors pursuing higher rents with a short term rental strategy.
- Up to $2,000,000
- Interest Rates from 6.25%
- Origination Fee From 0%
- Up to 80% LTV
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