860 S Beaver Lake Rd

Big Lake, AK 99652

$599,900B-

12 bd · 4.0 ba · 3,600 sqft · Built 2005 · MultiFamily · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,049/mo
• Mortgage (P&I): −$3,146
• Tax + insurance: −$1,000
• HOA: −$0
• Vac / Maint / Mgmt: −$1,690
• Net cashflow: $2,213/mo
• Annual: $26,555/yr
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• 1% rule: 1.34%
• Cash to close: $167,972

Investor read

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $600k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $553/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $600k).
• It's been on market 111 days — a 9% lower offer ($546k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $546k (9.0% 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 58/100 on livability (#99 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime B; Watch: health & safety C-, employment D, schools D-.
• Matanuska-Susitna Borough School District (town): math 42% / reading 50% proficiency, ranked #5 of 21 in AK (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 118 active listings in the ZIP; 91 units permitted in Matanuska-Susitna Borough in 2024 (25 in 5+ unit buildings).
• Matanuska-Susitna County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.7% vs local median 3.3% in Big Lake — 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.

Questions for listing agent

• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior painting — No recent painting, exterior appears weathered
• Major: Roof inspection — No recent roof replacement, satellite image shows no recent work