8012 E 5th Ave · Anchorage, AK 99504

$287,000

6 bd · 3.0 ba · 2,880 sqft · MultiFamily public records · 30 Days on market

Built 1970 10,427 sqft lot Est $492k · 42% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• 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: 2 units. confirmed

Listing remarks

Investors or Rehab Pros take note---opportunity is knocking with this roomy east side duplex on a large lot. Nice floor plan with yards areas for each side. Great parking. Needs significant repairs, but the upside is also quite significant. This is an acquired property sold ''As-Is'' for cash or terms acceptable to the seller. This property may qualify for Seller Financing (Vendee. ) Needs significant repairs: Amount of repairs needed will likely exceed most rehab/renovation loan limits and/or some buyer qualification. We can recommend that interested buyers consult with an experienced general contractor AND a loan officer to determine the total combined (purchase + repairs) project costs p

Key facts

• Great parking
• Large lot
• Bonus room

Tags

• EAST SIDE DUPLEX
• LARGE LOT
• BONUS ROOM
• GREAT PARKING

Property features AI

Exterior

• Parking: No garage or carport; No open parking spaces recorded
• Utilities: Public sewer
• Home design: Multi-family property; Built in 1970
• Construction: Wood frame construction; Unknown foundation
• Exterior features: Paved road access; Unknown roof type

Interior

• Bedrooms: Six bedrooms
• Bathrooms: Two full bathrooms; Two half bathrooms
• Interior features: Six total bedrooms; Four total bathrooms (2 full, 2 half)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $287k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $874/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $287k).
• Recommended offer: $283k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: Muldoon Elementary (math 17% / reading 17%, grade F, #139 of 156 statewide, top 92%, 466 students, 100% FRL); Nicholas J. Begich Middle School (math 10% / reading 24%, grade F, #32 of 36 statewide, top 89%, 882 students, 78% FRL); Bartlett High School (math 22% / reading 27%, grade F, #42 of 61 statewide, top 82%, 1,373 students, 64% FRL) — zoned schools average 80% FRL vs 38% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 40% district-wide (-20 pts) — the specific schools serving this property underperform the Anchorage School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.6%/yr); 214 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $4,612/mo this rent would consume 64% of the median local household income ($87k/yr) (locally 1052% 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 $9k 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 + 2.6% rent growth), your $80k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($283k) is reasonable based on typical stale-listing flexibility.

Recommended offer $282,695 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.61% ✓
• Cap rate: 13.60%
• Cash-on-cash: 26.11%
• DSCR: 2.16
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $492,480
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 Bolin St	0.38mi	6/2.0	2,624 (-9%)	18mo	$449,500	$171	48
1300 Valley St	0.52mi	6/3.0	2,688 (-7%)	23mo	$449,000	$167	45
300 Beulah Cir	0.35mi	7/4.0 (+1)	3,198 (+11%)	23mo	$575,000	$180	37

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 · 2.57% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 1.78×
• Total profit: $62,864
• Equity at exit: $42,793

10-year hold

• IRR: 27.4%
• Equity multiple: 3.37×
• Total profit: $190,091
• Equity at exit: $24,815

Cash invested: $80,360 (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 99504

• Rents YoY: 2.6%
• Active inventory: 214
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $4,612 high
• Mortgage (P&I): −$1,505
• Tax from tax record: −$271 /mo · $3,248/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$969
• Net cashflow: $1,748

Break-even live

Break-even rent $2,399

Max offer price $287,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,612
Total (2 units)			$4,612

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: $71,750
• Closing costs: $8,610
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $287,000 Active 30 DOM
2. 2026-06-17
   days on market $287,000 Active 29 DOM
3. 2026-06-16
   days on market $287,000 Active 28 DOM
4. 2026-06-15
   days on market $287,000 Active 27 DOM
5. 2026-06-14
   days on market $287,000 Active 25 DOM
6. 2026-06-13
   days on market $287,000 Active 24 DOM
7. 2026-06-10
   days on market $287,000 Active 22 DOM
8. 2026-06-09
   days on market $287,000 Active 21 DOM
9. 2026-06-08
   days on market $287,000 Active 20 DOM
10. 2026-06-07
    days on market $287,000 Active 19 DOM
11. 2026-06-03
    days on market $287,000 Active 15 DOM
12. 2026-06-02
    days on market $287,000 Active 14 DOM
13. 2026-06-01
    days on market $287,000 Active 13 DOM
14. 2026-05-31
    days on market $287,000 Active 12 DOM
15. 2026-05-30
    days on market $287,000 Active 11 DOM
16. 2026-05-19
    listed $287,000 Active

ⓘ 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: $3,248 · $271/mo
• Projected year-2 tax: $3,332 · $278/mo
• Expected delta: +$84/yr (+$7/mo · 2.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $55,344
• − Mortgage interest: −$16,076
• − Property taxes: −$3,248
• − Insurance: −$1,435
• − Repairs & maintenance: −$4,428
• − Management: −$4,428
• − Depreciation: −$8,349
• Taxable income: $17,380
• Est. tax owed @ 24.0%: −$4,171
• After-tax cash flow: $16,807/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): 42,093
• Household income: $86,710
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1052.0

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 0.80)
• Race & ethnicity: White 41% Two or more races 18% Asian 13% Native American 9% Black 9% Hispanic / Latino 9% Pacific Islander 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Portuguese 2% Ukrainian 2% Romanian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Other Asian/Pacific 9% Spanish 4% Tagalog/Filipino 3%

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: ▼ -184.29%
• Current HPI: 259.8803
• Rent YoY: ▲ 2.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-19 Listed $287,000 AKMLS

Property tax history

+4.4%/yr

Latest (2025): $3,248 · +13.0% YoY. Source: county tax records.