251 S Nebraska Ave

Guernsey, WY 82214

$110,000D

2 bd · 1.0 ba · 720 sqft · Built 1950 · SingleFamily · Pending · 265 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $836/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $-33/mo
• Annual: $-401/yr
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• 1% rule: 0.76%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $-33 ($-401/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (24.0% below list).
• It's been on market 265 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (24.0% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($761 loan paydown + $354 appreciation (0.3% local appreciation)).
• Location reads 68/100 on livability (#57 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Platte County School District #2 (rural): math 40% / reading 50% proficiency, ranked #43 of 48 in WY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Guernsey-Sunrise Elementary (math 37% / reading 42%, grade F, #118 of 151 statewide, top 84%, 126 students, 45% FRL); Guernsey-Sunrise Junior High (math 44% / reading 34%, 28 students, 54% FRL); Guernsey-Sunrise High School (math 30% / reading 30%, grade F, #59 of 75 statewide, top 78%, 57 students, 47% FRL) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 40 units permitted in Platte County in 2024 (0 in 5+ unit buildings).
• Platte County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 265 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.