5242 E 26th Ave · Anchorage, AK 99508

$345,000

9 bd · 8.1 ba · 5,120 sqft · MultiFamily public records · 83 Days on market

Built 1973 6,986 sqft lot $67/sqft · 58% below area

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

8 Plex with all 1-bedroom units. Fire damage to the two end units.

Key facts

• 6,986 sq ft lot
• 8 parking spots
• Built 1973

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $345k).
• Recommended offer: $324k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 3.8% in Anchorage — 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 78/100 on livability (#6 in AK, #2,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Anchorage School District (urban): math 37% / reading 43% proficiency, ranked #6 of 21 in AK (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 147 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $8,156/mo this rent would consume 123% of the median local household income ($79k/yr) (locally 1248% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $97k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 31y 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

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. 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?
11. 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.
12. 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.
13. 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: 2.36% ✓
• Cap rate: 19.34%
• Cash-on-cash: 46.61%
• DSCR: 3.07
• GRM: 3.5

CMA / ARV

• ARV (median comp): $817,539
• List price: $345,000
• Delta: -57.80%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4950 E 24th Ave	0.21mi	10/6.0 (+1)	5,476 (+7%)	11mo	$799,999	$146	56
2731 Lee St	0.25mi	8/4.0 (-1)	4,512 (-12%)	5mo	$800,000	$177	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 45.4%
• Equity multiple: 3.02×
• Total profit: $195,601
• Equity at exit: $51,441

10-year hold

• IRR: 52.2%
• Equity multiple: 6.61×
• Total profit: $541,920
• Equity at exit: $29,829

Cash invested: $96,600 (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 99508

• Rents YoY: 4.9%
• Active inventory: 147
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $8,156 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$738 /mo · $8,857/yr
• Insurance: −$144
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,713
• Net cashflow: $3,697

Break-even live

Break-even rent $3,477

Max offer price $345,000

Occupancy floor 50%

Sensitivity live

Price	-10% $3,892	-5% $3,794	+0% $3,697	+5% $3,599	+10% $3,501
Rent	-10% $3,052	-5% $3,375	+0% $3,697	+5% $4,019	+10% $4,341
Rate	-1.0pp $3,870	-0.5pp $3,784	base $3,697	+0.5pp $3,607	+1.0pp $3,516

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$8,154
Total (3 units)			$8,156

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $345,000 Active 83 DOM
2. 2026-06-17
   days on market $345,000 Active 82 DOM
3. 2026-06-16
   days on market $345,000 Active 81 DOM
4. 2026-06-15
   days on market $345,000 Active 80 DOM
5. 2026-06-14
   days on market $345,000 Active 78 DOM
6. 2026-06-13
   days on market $345,000 Active 77 DOM
7. 2026-06-10
   days on market $345,000 Active 75 DOM
8. 2026-06-09
   days on market $345,000 Active 74 DOM
9. 2026-06-08
   days on market $345,000 Active 73 DOM
10. 2026-06-07
    days on market $345,000 Active 72 DOM
11. 2026-06-03
    days on market $345,000 Active 68 DOM
12. 2026-06-02
    days on market $345,000 Active 67 DOM
13. 2026-06-01
    days on market $345,000 Active 66 DOM
14. 2026-05-31
    days on market $345,000 Active 65 DOM
15. 2026-05-30
    days on market $345,000 Active 64 DOM
16. 2026-03-27
    listed $345,000 Active 66-char remark

    Show marketing remark (66 chars)

    8 Plex with all 1-bedroom units. Fire damage to the two end units.

17. 2025-02-03
    listed $665,000 Active
18. 2022-06-15
    listed $412,000 Active
19. 2002-05-15
    soldstatus
20. 2002-05-15
    soldstatus
21. 2001-07-16
    listed $320,000
22. 1998-05-11
    listed $295,000
23. 1997-03-25
    listed $256,000
24. 1995-10-11
    soldstatus
25. 1995-05-12
    listed $220,000

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

Tax reassessment forecast AK · Partial reset (capped growth)

• Current annual tax: $8,857 · $738/mo
• Projected year-2 tax: $8,857 · $738/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $97,872
• − Mortgage interest: −$19,325
• − Property taxes: −$8,857
• − Insurance: −$2,392
• − Repairs & maintenance: −$7,830
• − Management: −$7,830
• − Depreciation: −$10,036
• Taxable income: $41,603
• Est. tax owed @ 24.0%: −$9,985
• After-tax cash flow: $34,376/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: Anchorage School District
• NCES district ID: 0200180
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $76,447
• Composite: 37.0/100
• National rank: #4523
• State rank: #6 of 21 in AK

Livability — Anchorage

• Score: 78/100
• State rank: #6
• US rank: #2553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anchorage, AK
• County: Anchorage Borough · 246,594 people
• City population: 218,117
• Metro: Anchorage, AK
• Population (ZIP): 36,458
• Household income: $79,314
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1248.0

Population outlook (Anchorage County) Hauer SSP2

• Today (2025): 314,993 people
• By 2030: 321,771 · +2.2%
• By 2040: 335,493 · +6.5%
• By 2050: 352,799 · +12.0%
• By 2075: 414,771 · +31.7%
• By 2100: 474,485 · +50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 38% Two or more races 14% Asian 13% Hispanic / Latino 13% Native American 10% Pacific Islander 8% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Portuguese 3% Iranian 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica, South Korea
• Languages at home: 72% English-only · Other Asian/Pacific 11% Spanish 8% Tagalog/Filipino 4%

Political lean MEDSL · Anchorage

• 2024 margin: D (+12.7) · D 56.3% · R 43.7%
• 2016→2024 swing: +27.9pp toward D · 2016: -15.2pp · 2024: 12.7pp
• All cycles: 2024: D+12.7 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.51%
• Current HPI: 257.8807
• Rent YoY: ▲ 4.88%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+56.8% since first listed

10 events — show timeline

• 2026-03-27 Listed $345,000 AKMLS
• 2025-02-03 Listed $665,000 AKMLS
• 2022-06-15 Listed $412,000 AKMLS
• 2002-05-15 Sold (Public Records) — Public Records
• 2002-05-15 Sold (Public Records) — Public Records
• 2001-07-16 Listed $320,000 AKMLS
• 1998-05-11 Listed $295,000 AKMLS
• 1997-03-25 Listed $256,000 AKMLS
• 1995-10-11 Sold (Public Records) — Public Records
• 1995-05-12 Listed $220,000 AKMLS

Property tax history

+3.0%/yr

Latest (2025): $8,857 · +3.7% YoY. Source: county tax records.