1021 E Roosevelt Ave

Riverton, WY 82501

$134,900D+

2 bd · 1.0 ba · 800 sqft · Built 1940 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $66/mo
• Annual: $789/yr
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• 1% rule: 0.82%
• Cash to close: $37,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $66 ($789/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (18.2% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (18.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: crime F, amenities F, commute 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.
• Zoned schools: Rendezvous Elementary (math 54% / reading 54%, grade C, #75 of 151 statewide, top 50%, 380 students, 50% FRL); Riverton Middle School (math 32% / reading 49%, grade F, #52 of 55 statewide, top 94%, 541 students, 44% FRL); Riverton High School (math 30% / reading 44%, grade F, #56 of 75 statewide, top 76%, 776 students, 35% FRL).
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 190 active listings in the ZIP; 22 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).
• Fremont County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% 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.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.