1215 Pioneer Ct · Riverton, WY 82501

$229,000

2 bd · 2.0 ba · 1,220 sqft · MultiFamily public records · 17 Days on market

Built 2007 $312/mo HOA · 30% of rent

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Why this score? — see what drove the D- 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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• DSCR +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Large kitchen
• Dining room
• Separate sunroom

Tags

• LARGE KITCHEN
• DINING ROOM
• SEPARATE SUNROOM
• WALKING PATH

Property features AI

Finance

• HOA & community: Homeowners association present; HOA fee $312 per month

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Covered patio/porch; Located on a cul-de-sac; Accessible entrance

Interior

• Kitchen: Dishwasher; Microwave; Range / Oven; Disposal; Refrigerator
• Flooring: Carpet; Vinyl
• Heating & cooling: Electric heating
• Interior features: Vaulted ceilings; Skylights
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $229k.

Deal economics

• At list price, monthly cash flow is $-46 ($-547/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (8.4% below list).
• Recommended offer: $210k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Riverton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#79 in WY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools C-, crime F, amenities F.
• Fremont County School District #25 (town): math 38% / reading 48% proficiency, ranked #36 of 41 in WY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 189 active listings in the ZIP; 22 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Fremont County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $209,800 (8.4% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• GRM: 9.1

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-39,906
• Equity at exit: $34,145

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-38,060
• Equity at exit: $19,800

Cash invested: $64,120 (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 82501

• Active inventory: 189
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $2,098 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$95 /mo · $1,136/yr
• Insurance: −$95
• HOA: −$312
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-46

Break-even live

Break-even rent $2,156

Max offer price $220,944

Occupancy floor 97%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,098
Total (2 units)			$2,098

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $312 · $3,744/yr

Listing history 12 events

1. 2026-06-19
   days on market $229,000 Active 17 DOM
2. 2026-06-18
   days on market $229,000 Active 16 DOM
3. 2026-06-17
   days on market $229,000 Active 15 DOM
4. 2026-06-16
   days on market $229,000 Active 14 DOM
5. 2026-06-15
   days on market $229,000 Active 13 DOM
6. 2026-06-14
   days on market $229,000 Active 11 DOM
7. 2026-06-12
   days on market $229,000 Active 10 DOM
8. 2026-06-09
   days on market $229,000 Active 7 DOM
9. 2026-06-08
   days on market $229,000 Active 6 DOM
10. 2026-06-07
    days on market $229,000 Active 5 DOM
11. 2026-06-05
    days on market $229,000 Active 3 DOM
12. 2026-06-03
    listed $229,000 Active 1 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: $1,136 · $95/mo
• Projected year-2 tax: $1,397 · $116/mo
• Expected delta: +$260/yr (+$22/mo · 22.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,176
• − Mortgage interest: −$12,828
• − Property taxes: −$1,136
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − HOA: −$3,744
• − Depreciation: −$6,662
• Taxable loss: −$4,367
• Est. tax savings @ 24.0%: +$1,048
• After-tax cash flow: $501/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: Fremont County School District #25
• NCES district ID: 5605220
• Math proficiency: 38% ▼ -5.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $47,564
• Composite: 36.71/100
• National rank: #4596
• State rank: #36 of 41 in WY

Livability — Riverton

• Score: 65/100
• State rank: #79
• US rank: #12716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverton, WY
• County: Fremont County · 19,413 people
• City population: 19,413
• Metro: Riverton, WY
• Population (ZIP): 19,413
• Household income: $60,449
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 304.0

Population outlook (Fremont County) Hauer SSP2

• Today (2025): 39,368 people
• By 2030: 38,412 · -2.4%
• By 2040: 36,224 · -8.0%
• By 2050: 34,314 · -12.8%
• By 2075: 30,353 · -22.9%
• By 2100: 25,821 · -34.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 13% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 4% Lithuanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Fremont

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.7% · Other 1.9%
• 2008→2024 swing: -8.6pp toward R · 2008: -28.8pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+35.8 2016: R+42.1 2012: R+34.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.60%
• Current HPI: 139.0105
• Rent YoY: —
• Metro: Riverton, WY
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-01 Listed $229,000 WMLS

Property tax history

-0.5%/yr

Latest (2025): $1,136 · -19.2% YoY. Source: county tax records.