21312 Settlers Dr · Anchorage, AK 99567

$790,000

6 bd · 5.0 ba · 4,160 sqft · MultiFamily public records · 8 Days on market

Built 1983 0.68 ac lot

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 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

Good luck finding another property like this with this immaculately maintained tri--plex. Two townhouse units each feature 3 Bedrooms, 2.5 Bathrooms with a family room and living room nicely laid out over 2,080 sqft per side with washers and dryers and one garage bay each. Unit 3 offers 1 Bedroom, 1 Bathroom, full kitchen and laundry room with a private garage. Grounds include ample parking for cars, RV's or boats, circular driveway on a treed lot. Call today.

Key facts

• 0.68 acre lot
• 3 garage spots
• Built 1983

Property features AI

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath multifamily listed at $790k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $790k).
• Cap rate 8.9% 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.
• Zoned schools: Chugiak Elementary (math 62% / reading 52%, grade C+, #25 of 156 statewide, top 18%, 448 students, 17% FRL); Mirror Lake Middle School (math 39% / reading 53%, grade D+, #10 of 36 statewide, top 26%, 563 students, 21% FRL); Chugiak High School (math 42% / reading 42%, grade F, #17 of 61 statewide, top 32%, 905 students, 19% FRL) — zoned schools average 19% FRL vs 38% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 93 active listings in the ZIP; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $24k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $790,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• GRM: 7.4

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: -2.3%
• Equity multiple: 0.92×
• Total profit: $-18,779
• Equity at exit: $117,792

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $124,448
• Equity at exit: $68,305

Cash invested: $221,200 (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 99567

• Home prices YoY: -4.7%
• Active inventory: 93
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $8,909 medium
• Mortgage (P&I): −$4,143
• Tax from tax record: −$852 /mo · $10,222/yr
• Insurance: −$329
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,871
• Net cashflow: $1,714

Break-even live

Break-even rent $6,739

Max offer price $790,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$6,508
1× unit	1	1	$2,402
Total (3 units)			$8,909

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: $197,500
• Closing costs: $23,700
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-18
   status Pending
2. 2026-04-17
   price $790,000
3. 2026-04-10
   listed $760,000 Active
4. 2018-05-23
   soldstatus
5. 2018-03-02
   listed $629,900
6. 2017-05-23
   listed $636,150

ⓘ 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: $10,222 · $852/mo
• Projected year-2 tax: $10,222 · $852/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $106,908
• − Mortgage interest: −$44,252
• − Property taxes: −$10,222
• − Insurance: −$3,950
• − Repairs & maintenance: −$8,553
• − Management: −$8,553
• − Depreciation: −$22,982
• Taxable income: $8,397
• Est. tax owed @ 24.0%: −$2,015
• After-tax cash flow: $18,556/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
• City population: 218,117
• Population (ZIP): 6,739

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: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Native American 5% Pacific Islander 1%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Portuguese 4% Italian 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5% German/W. Germanic 1%

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: ▼ -13.74%
• Current HPI: 279.3784
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+24.2% since first listed

6 events — show timeline

• 2026-04-18 Pending — AKMLS
• 2026-04-17 Price Changed $790,000 AKMLS
• 2026-04-10 Listed $760,000 AKMLS
• 2018-05-23 Sold (Public Records) — Public Records
• 2018-03-02 Listed $629,900 AKMLS
• 2017-05-23 Listed $636,150 AKMLS

Property tax history

+3.7%/yr

Latest (2025): $10,222 · +7.5% YoY. Source: county tax records.