517 S Main St · Lusk, WY 82225

$99,500

3 bd · 2.0 ba · 2,526 sqft · SingleFamily public records · 129 Days on market

Built 1935 7,405 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Alley access
• Basement
• Fenced-in backyard

Tags

• HARDWOOD FLOORS
• MULTIPLE LIVING AREAS
• FENCED-IN BACKYARD
• ALLEY ACCESS
• BASEMENT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential property; Rural setting
• Construction: Vinyl siding; Composition roof
• Exterior features: Chain link fencing

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Oven
• Flooring: Hardwood
• Heating & cooling: Forced air heating
• Interior features: Wood-burning fireplace (1); Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#90 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: health & safety C-, schools D, amenities F.
• Niobrara County School District #1 (rural): math 28% / reading 48% proficiency, ranked #38 of 41 in WY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 9 active listings in the ZIP; 4 units permitted in Niobrara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($688 loan paydown + $3k appreciation (3.0% local appreciation)).
• Niobrara County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.74%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 2.58×
• Total profit: $44,104
• Equity at exit: $44,740

10-year hold

• IRR: 28.5%
• Equity multiple: 5.02×
• Total profit: $111,936
• Equity at exit: $68,949

Cash invested: $27,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Wyoming: 90 Strongly Landlord-Friendly · R+25
• County: — inherits STATE
• City: — inherits STATE

3-day notice; strongly landlord-favorable; small market.

Methodology + full state rankings →

ZIP-level market 82225

• Active inventory: 9
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$47 /mo · $561/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $505

Break-even live

Break-even rent $772

Max offer price $99,500

Occupancy floor 59%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $99,500 Active 129 DOM
2. 2026-06-17
   price $99,500 Active 128 DOM
3. 2026-06-17
   days on market $118,000 Active 128 DOM
4. 2026-06-16
   days on market $118,000 Active 127 DOM
5. 2026-06-15
   days on market $118,000 Active 126 DOM
6. 2026-06-14
   days on market $118,000 Active 124 DOM
7. 2026-06-13
   days on market $118,000 Active 123 DOM
8. 2026-06-10
   days on market $118,000 Active 121 DOM
9. 2026-06-09
   days on market $118,000 Active 120 DOM
10. 2026-06-08
    days on market $118,000 Active 119 DOM
11. 2026-06-07
    days on market $118,000 Active 118 DOM
12. 2026-06-05
    days on market $118,000 Active 115 DOM
13. 2026-06-03
    days on market $118,000 Active 114 DOM
14. 2026-06-02
    days on market $118,000 Active 113 DOM
15. 2026-06-01
    days on market $118,000 Active 112 DOM
16. 2026-05-31
    days on market $118,000 Active 111 DOM
17. 2026-05-31
    days on market $118,000 Active 110 DOM
18. 2026-05-12
    price $118,000
19. 2026-04-17
    price $124,000
20. 2026-02-23
    price $128,000
21. 2026-02-09
    listed $140,000 Active
22. 2021-06-24
    listed $110,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WY · Resets to sale price

• Current annual tax: $561 · $47/mo
• Projected year-2 tax: $607 · $51/mo
• Expected delta: +$46/yr (+$4/mo · 8.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,931
• − Mortgage interest: −$5,574
• − Property taxes: −$561
• − Insurance: −$498
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$2,895
• Taxable income: $4,696
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $4,929/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Niobrara County School District #1
• NCES district ID: 5604230
• Math proficiency: 28% ▼ -3.00%
• Reading proficiency: 48% ▲ 2.00%
• Median HH income: $41,206
• Composite: 31.92/100
• National rank: #5852
• State rank: #38 of 41 in WY

Livability — Lusk

• Score: 64/100
• State rank: #90
• US rank: #14210

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment F Housing B Health & safety C- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lusk, WY
• Population (ZIP): 1,746

Population outlook (Niobrara County) Hauer SSP2

• Today (2025): 2,664 people
• By 2030: 2,776 · +4.2%
• By 2040: 3,035 · +13.9%
• By 2050: 3,464 · +30.0%
• By 2075: 4,845 · +81.9%
• By 2100: 5,901 · +121.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Native American 3% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Portuguese 4% Lithuanian 3%
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Niobrara

• 2024 margin: Solid R (+81.0) · D 9.1% · R 90.1%
• 2008→2024 swing: -21.2pp toward R · 2008: -59.8pp · 2024: -81.0pp
• All cycles: 2024: R+81.0 2020: R+73.6 2016: R+77.2 2012: R+64.8 2008: R+59.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+7.3% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $118,000 WMLS
• 2026-04-17 Price Changed $124,000 WMLS
• 2026-02-23 Price Changed $128,000 WMLS
• 2026-02-09 Listed $140,000 WMLS
• 2021-06-24 Listed $110,000 WMLS

Property tax history

+1.2%/yr

Latest (2025): $561 · -10.8% YoY. Source: county tax records.