402 Diamondville Ave Ave

Diamondville, WY 83116

$95,000B

3 bd · 1.75 ba · 1,344 sqft · Built 1978 · SingleFamily · Active · 500 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,208/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$585
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-128/mo
• Annual: $-1,540/yr
• Cap rate: 10.06%
• Cash-on-cash: 13.45%
• DSCR: 1.60
• 1% rule: 1.27%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.75-bath single-family listed at $95k.
• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (19.6% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 500 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (19.6% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#87 in WY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment C-, amenities F, commute F.
• Lincoln County School District #1 (rural): math 63% / reading 64% proficiency, ranked #4 of 41 in WY (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Canyon Elementary School (math 72% / reading 67%, grade A-, #17 of 151 statewide, top 14%, 320 students, 22% FRL); Kemmerer Junior Senior High School (math 57% / reading 62%, grade C+, #11 of 75 statewide, top 18%, 264 students, 19% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 9 active listings in the ZIP; 220 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 500 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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?
• 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.