525 Buckboard Dr · Riverton, WY 82501

$225,000

3 bd · 2.0 ba · 1,270 sqft · MultiFamily public records · 74 Days on market

Built 1993 $273/mo HOA · 26% 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 +13.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• DSCR +4.2/10.0
• Schools +3.7/10.0
• 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

Listing remarks MLS

Fantastic bargain for this 2 bedroom, 2 bath home in excellent condition with lots of updates. This home features a master bedroom with new master bath, large kitchen area with dining area, new flooring throughout, oversized 2 car attached garage and a patio perfect for those nice summer evenings to enjoy. Beautiful landscaping, ideal home just like new. Call today for your personal showing. Seller offering owner financing with acceptable terms and credit report.

Key facts

• One level ranch
• Open floor plan
• Oak cabinetry

Tags

• RANCH STYLE TWIN HOME
• ONE LEVEL RANCH
• OPEN FLOOR PLAN
• OAK CABINETRY
• DURABLE LAMINATE COUNTERTOPS
• HALLWAY LAUNDRY AREA

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $273

Exterior

• Parking: Attached garage; 2-car garage; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Brick veneer; Metal siding
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Range / Oven; Refrigerator
• Flooring: Carpet; Vinyl
• Heating & cooling: Baseboard heating; Electric heating
• Interior features: Walk-in closet(s); Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $19 ($228/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 $210k (6.6% below list).
• Recommended offer: $210k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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).
• Market conditions: 190 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 74 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

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

Recommended offer $210,100 (6.6% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 8.9

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-35,166
• Equity at exit: $33,548

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-28,722
• Equity at exit: $19,454

Cash invested: $63,000 (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: 190
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$94 /mo · $1,130/yr
• Insurance: −$94
• HOA: −$273
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $19

Break-even live

Break-even rent $2,077

Max offer price $225,000

Occupancy floor 94%

Sensitivity live

Price	-10% $146	-5% $83	+0% $19	+5% $-45	+10% $-108
Rent	-10% $-147	-5% $-64	+0% $19	+5% $102	+10% $185
Rate	-1.0pp $132	-0.5pp $76	base $19	+0.5pp $-39	+1.0pp $-99

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,102
Total (2 units)			$2,101

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $273 · $3,276/yr
• Likely covers: landscaping

Listing history 20 events

1. 2026-06-21
   days on market $225,000 Active 74 DOM
2. 2026-06-19
   days on market $225,000 Active 72 DOM
3. 2026-06-18
   days on market $225,000 Active 71 DOM
4. 2026-06-17
   days on market $225,000 Active 70 DOM
5. 2026-06-16
   days on market $225,000 Active 69 DOM
6. 2026-06-15
   days on market $225,000 Active 68 DOM
7. 2026-06-14
   days on market $225,000 Active 66 DOM
8. 2026-06-12
   pricedays on market $225,000 Active 65 DOM
9. 2026-06-09
   days on market $230,000 Active 62 DOM
10. 2026-06-08
    days on market $230,000 Active 61 DOM
11. 2026-06-07
    days on market $230,000 Active 60 DOM
12. 2026-06-05
    days on market $230,000 Active 58 DOM
13. 2026-06-04
    days on market $230,000 Active 56 DOM
14. 2026-06-02
    days on market $230,000 Active 55 DOM
15. 2026-06-01
    days on market $230,000 Active 54 DOM
16. 2026-05-31
    days on market $230,000 Active 53 DOM
17. 2026-05-31
    days on market $230,000 Active 52 DOM
18. 2026-04-09
    listed $230,000 Active
19. 2019-09-23
    soldstatus 467-char remark

    Show marketing remark (467 chars)

    Fantastic bargain for this 2 bedroom, 2 bath home in excellent condition with lots of updates. This home features a master bedroom with new master bath, large kitchen area with dining area, new flooring throughout, oversized 2 car attached garage and a patio perfect for those nice summer evenings to enjoy. Beautiful landscaping, ideal home just like new. Call today for your personal showing. Seller offering owner financing with acceptable terms and credit report.

20. 2016-07-11
    listed $139,500 467-char remark

    Show marketing remark (467 chars)

    Fantastic bargain for this 2 bedroom, 2 bath home in excellent condition with lots of updates. This home features a master bedroom with new master bath, large kitchen area with dining area, new flooring throughout, oversized 2 car attached garage and a patio perfect for those nice summer evenings to enjoy. Beautiful landscaping, ideal home just like new. Call today for your personal showing. Seller offering owner financing with acceptable terms and credit report.

ⓘ 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: $1,130 · $94/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$243/yr (+$20/mo · 21.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥91°F today · 19 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: $25,212
• − Mortgage interest: −$12,603
• − Property taxes: −$1,130
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − HOA: −$3,276
• − Depreciation: −$6,545
• Taxable loss: −$3,502
• Est. tax savings @ 24.0%: +$840
• After-tax cash flow: $1,068/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

+64.9% since first listed

3 events — show timeline

• 2026-04-09 Listed $230,000 WMLS
• 2019-09-23 Sold (MLS) — WMLS
• 2016-07-11 Listed $139,500 WMLS

Property tax history

+1.5%/yr

Latest (2025): $1,130 · -19.2% YoY. Source: county tax records.