904 Hemlock Ave · Gillette, WY 82716

$39,900

3 bd · 2.0 ba · 1,632 sqft · SingleFamily · 12 Days on market

Built 1973

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 1973
• Listed 12 days

Property features AI

Exterior

• Home design: Mobile Home (Atlantic model); Residential property

Interior

• Kitchen: Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present
• Interior features: Washer and dryer included; Dishwasher; Refrigerator; Has heating
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $838 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).

Location & tenants

• Location reads 84/100 on livability (#1 in WY, #820 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F.
• Campbell County School District #1 (town): math 45% / reading 47% proficiency, ranked #30 of 41 in WY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 80 active listings in the ZIP; 32 units permitted in Campbell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Campbell 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.43% ✓
• Cap rate: 31.49%
• Cash-on-cash: 89.98%
• DSCR: 5.00
• GRM: 2.4

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: 90.6%
• Equity multiple: 5.20×
• Total profit: $46,892
• Equity at exit: $5,949

10-year hold

• IRR: 93.6%
• Equity multiple: 10.81×
• Total profit: $109,544
• Equity at exit: $3,450

Cash invested: $11,172 (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 82716

• Active inventory: 80
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,370 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $838

Break-even live

Break-even rent $309

Max offer price $39,900

Occupancy floor 34%

Sensitivity live

Price	-10% $860	-5% $849	+0% $838	+5% $826	+10% $815
Rent	-10% $730	-5% $784	+0% $838	+5% $892	+10% $946
Rate	-1.0pp $858	-0.5pp $848	base $838	+0.5pp $827	+1.0pp $817

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-17
   days on market $39,900 Active 12 DOM
2. 2026-06-16
   days on market $39,900 Active 11 DOM
3. 2026-06-15
   days on market $39,900 Active 10 DOM
4. 2026-06-14
   days on market $39,900 Active 8 DOM
5. 2026-06-12
   days on market $39,900 Active 7 DOM
6. 2026-06-09
   days on market $39,900 Active 4 DOM
7. 2026-06-08
   days on market $39,900 Active 3 DOM
8. 2026-06-07
   listed $39,900 Active 2 DOM

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $243 · $20/mo
• Expected delta: +$23/yr (+$2/mo · 10.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,435
• − Mortgage interest: −$2,235
• − Property taxes: −$220
• − Insurance: −$200
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$1,161
• Taxable income: $9,990
• Est. tax owed @ 24.0%: −$2,398
• After-tax cash flow: $7,655/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: Campbell County School District #1
• NCES district ID: 5601470
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $77,045
• Composite: 42.05/100
• National rank: #3328
• State rank: #30 of 41 in WY

Livability — Gillette

• Score: 84/100
• State rank: #1
• US rank: #820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gillette, WY
• County: Campbell County · 43,436 people
• City population: 43,436
• Metro: Gillette, WY
• Population (ZIP): 16,817
• Household income: $73,155
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 380.0

Population outlook (Campbell County) Hauer SSP2

• Today (2025): 56,742 people
• By 2030: 60,329 · +6.3%
• By 2040: 67,211 · +18.5%
• By 2050: 73,621 · +29.7%
• By 2075: 89,568 · +57.9%
• By 2100: 99,210 · +74.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 5% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 3% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Campbell

• 2024 margin: Solid R (+76.8) · D 11.0% · R 87.8% · Other 1.2%
• 2008→2024 swing: -15.4pp toward R · 2008: -61.4pp · 2024: -76.8pp
• All cycles: 2024: R+76.8 2020: R+76.9 2016: R+80.6 2012: R+73.2 2008: R+61.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.40%
• Current HPI: 139.5275
• Rent YoY: —
• Metro: Gillette, WY
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-05 Listed $39,900 NEWRA

Property tax history

+1.9%/yr

Latest (2025): $220 · -21.4% YoY. Source: county tax records.