781 Sixth Ave

Bethel, AK 99559

$589,000C-

9 bd · 5.1 ba · 6,500 sqft · Built 1980 · MultiFamily · Active · 680 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,606/mo
• Mortgage (P&I): −$3,089
• Tax + insurance: −$982
• HOA: −$0
• Vac / Maint / Mgmt: −$1,177
• Net cashflow: $358/mo
• Annual: $4,300/yr
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $164,920

Investor read

• This is a 3 × 3-bed/?-bath units multifamily listed at $589k. Condition is rated fair.
• 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).
• It's been on market 680 days — a 12% lower offer ($518k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $518k (12.0% below list) — sets the bar for market timing.
• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• 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).
• Bethel County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• 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.

Questions for listing agent

• 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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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?
• 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?

Repairs flagged (vision-AI assessment)

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