781 Sixth Ave · Bethel, AK 99559

$589,000

9 bd · 5.1 ba · 6,500 sqft · MultiFamily · 680 Days on market

Built 1980 Fair condition 0.32 ac lot $91/sqft · 36% below area Est $914k · 36% under ↓ 2% since listing

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Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• 1% rule +4.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A great income generating property with five (5), two (2) bedroom units. Numerous upgrades over the life of the building to include, newer boilers, water tanks, sewer tanks, electrical service, and foundation. All units are in similar, good condition. All units are leased. Each unit is of various age in refresh/renovation. Photos are representative of units.

Key facts

• All units leased
• Numerous upgrades
• 0.32 acre lot

Tags

• NUMEROUS UPGRADES
• ALL UNITS LEASED

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $589k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive. Per door: $119/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $561k (4.8% below list).
• Recommended offer: $518k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#143 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment A; Watch: health & safety C-, schools F, crime F.
• Lower Kuskokwim School District (rural): math 6% / reading 7% proficiency, ranked #18 of 21 in AK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 21 active listings in the ZIP; 152 units permitted in Bethel Census Area in 2024 (131 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Bethel County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $165k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 680 days — a 12% lower offer ($518k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $518,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 680 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (median comp): $913,585
• List price: $589,000
• Delta: -35.53%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.57×
• Total profit: $93,858
• Equity at exit: $264,840

10-year hold

• IRR: 12.3%
• Equity multiple: 2.83×
• Total profit: $302,353
• Equity at exit: $408,150

Cash invested: $164,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 80 Strongly Landlord-Friendly
• State Alaska: 80 Strongly Landlord-Friendly · R+8
• County: — inherits STATE
• City: — inherits STATE

30-day notice; security deposits capped; courts moderate-paced.

Methodology + full state rankings →

ZIP-level market 99559

• Active inventory: 21
• Price-to-rent: 26.3×

Monthly cashflow live

• Estimated rent: $5,606 medium
• Mortgage (P&I): −$3,089
• Tax est. 1.5%: −$736 /mo · $8,835/yr
• Insurance: −$245
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,177
• Net cashflow: $358

Break-even live

Break-even rent $5,152

Max offer price $589,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,607
Total (3 units)			$5,606

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: $147,250
• Closing costs: $17,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $589,000 Active 680 DOM
2. 2026-06-18
   days on market $589,000 Active 679 DOM
3. 2026-06-17
   days on market $589,000 Active 678 DOM
4. 2026-06-16
   days on market $589,000 Active 677 DOM
5. 2026-06-15
   days on market $589,000 Active 676 DOM
6. 2026-06-14
   days on market $589,000 Active 674 DOM
7. 2026-06-12
   days on market $589,000 Active 673 DOM
8. 2026-06-09
   days on market $589,000 Active 670 DOM
9. 2026-06-08
   days on market $589,000 Active 669 DOM
10. 2026-06-07
    days on market $589,000 Active 668 DOM
11. 2026-06-07
    days on market $589,000 Active 667 DOM
12. 2026-06-04
    days on market $589,000 Active 664 DOM
13. 2026-06-02
    days on market $589,000 Active 663 DOM
14. 2026-06-01
    days on market $589,000 Active 662 DOM
15. 2026-05-31
    days on market $589,000 Active 661 DOM
16. 2026-05-31
    days on market $589,000 Active 660 DOM
17. 2025-08-08
    price $589,000 365-char remark

    Show marketing remark (365 chars)

    A great income generating property with five (5), two (2) bedroom units. Numerous upgrades over the life of the building to include, newer boilers, water tanks, sewer tanks, electrical service, and foundation. All units are in similar, good condition. All units are leased. Each unit is of various age in refresh/renovation. Photos are representative of units.

18. 2025-08-08
    status Active 365-char remark

    Show marketing remark (365 chars)

    A great income generating property with five (5), two (2) bedroom units. Numerous upgrades over the life of the building to include, newer boilers, water tanks, sewer tanks, electrical service, and foundation. All units are in similar, good condition. All units are leased. Each unit is of various age in refresh/renovation. Photos are representative of units.

19. 2024-07-31
    listed $599,000 Active 365-char remark

    Show marketing remark (365 chars)

    A great income generating property with five (5), two (2) bedroom units. Numerous upgrades over the life of the building to include, newer boilers, water tanks, sewer tanks, electrical service, and foundation. All units are in similar, good condition. All units are leased. Each unit is of various age in refresh/renovation. Photos are representative of units.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $67,272
• − Mortgage interest: −$32,993
• − Property taxes: −$8,835
• − Insurance: −$2,945
• − Repairs & maintenance: −$5,382
• − Management: −$5,382
• − Depreciation: −$17,135
• Taxable loss: −$5,399
• Est. tax savings @ 24.0%: +$1,296
• After-tax cash flow: $5,595/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, particularly to the exterior siding and landscaping, to improve its overall condition and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor interior paint — Dated but not peeling
• Major landscaping — Untidy yard, no landscaping

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and value
• Both interior paint refresh — Enhances interior aesthetics and value
• Both landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior paint · Dated but not peeling	Minor	$500–3,000
landscaping · Untidy yard, no landscaping	Major	$15,000–50,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and value ↑
• Both interior paint refresh — Enhances interior aesthetics and value ↑
• Both landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lower Kuskokwim School District
• NCES district ID: 0200001
• Math proficiency: 6% ▼ -3.00%
• Reading proficiency: 7% ▲ 1.00%
• Median HH income: $53,862
• Composite: 7.09/100
• National rank: #9966
• State rank: #18 of 21 in AK

Livability — Bethel

• Score: 55/100
• State rank: #143
• US rank: #23405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethel, AK
• City population: 7,272
• Population (ZIP): 7,272

Population outlook (Bethel County) Hauer SSP2

• Today (2025): 18,782 people
• By 2030: 19,192 · +2.2%
• By 2040: 20,045 · +6.7%
• By 2050: 20,423 · +8.7%
• By 2075: 20,197 · +7.5%
• By 2100: 16,947 · -9.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.98)
• Race & ethnicity: Native American 73% White 15% Two or more races 6% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Portuguese 4% Lithuanian 1%
• Foreign-born: 4% · South Korea, Canada
• Languages at home: 52% English-only · Korean 3% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Bethel

• 2016 margin: R (+15.2) · D 37.7% · R 52.9% · Other 9.4%
• All cycles: 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-1.7% since first listed

3 events — show timeline

• 2025-08-08 Price Changed $589,000 AKMLS
• 2025-08-08 Relisted — AKMLS
• 2024-07-31 Listed $599,000 AKMLS