2607 W 31st Ave · Anchorage, AK 99517

$335,000

8 bd · 5.0 ba · 1,920 sqft · MultiFamily public records · 63 Days on market

Built 1970 7,000 sqft lot $174/sqft · 19% above area ↓ 13% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• 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: 1 unit. 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

Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

Key facts

• 7,000 sq ft lot
• 4 parking spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 8-bed/5.0-bath multifamily listed at $335k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $335k).
• Recommended offer: $315k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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.
• Market conditions: Rents rising (+3.3%/yr); 64 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $5,468/mo this rent would consume 63% of the median local household income ($104k/yr) (locally 643% 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 + 3.3% rent growth), your $94k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $314,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 12.95%
• Cash-on-cash: 23.77%
• DSCR: 2.06
• GRM: 5.1

CMA / ARV

• ARV (median comp): $672,584
• List price: $335,000
• Delta: -50.19%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.67×
• Total profit: $62,390
• Equity at exit: $49,950

10-year hold

• IRR: 25.3%
• Equity multiple: 3.24×
• Total profit: $209,842
• Equity at exit: $28,965

Cash invested: $93,800 (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 99517

• Rents YoY: 3.3%
• Active inventory: 64
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $5,468 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$565 /mo · $6,782/yr
• Insurance: −$140
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,148
• Net cashflow: $1,803

Break-even live

Break-even rent $3,186

Max offer price $335,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,992	-5% $1,897	+0% $1,803	+5% $1,708	+10% $1,613
Rent	-10% $1,371	-5% $1,587	+0% $1,803	+5% $2,019	+10% $2,235
Rate	-1.0pp $1,971	-0.5pp $1,888	base $1,803	+0.5pp $1,716	+1.0pp $1,628

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,044
▸ 2× units	1	1	$2,424
Total (4 units)			$5,468

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $335,000 Active 63 DOM
2. 2026-06-17
   days on market $335,000 Active 62 DOM
3. 2026-06-16
   days on market $335,000 Active 61 DOM
4. 2026-06-15
   days on market $335,000 Active 60 DOM
5. 2026-06-14
   days on market $335,000 Active 58 DOM
6. 2026-06-13
   days on market $335,000 Active 57 DOM
7. 2026-06-10
   days on market $335,000 Active 55 DOM
8. 2026-06-09
   days on market $335,000 Active 54 DOM
9. 2026-06-08
   days on market $335,000 Active 53 DOM
10. 2026-06-07
    days on market $335,000 Active 52 DOM
11. 2026-06-03
    days on market $335,000 Active 48 DOM
12. 2026-06-02
    days on market $335,000 Active 47 DOM
13. 2026-06-01
    days on market $335,000 Active 46 DOM
14. 2026-05-31
    days on market $335,000 Active 45 DOM
15. 2026-05-30
    days on market $335,000 Active 44 DOM
16. 2026-05-04
    price $335,000 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

17. 2026-05-04
    status Active 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

18. 2026-04-23
    status Pending 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

19. 2026-04-14
    status Active 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

20. 2026-03-26
    status Pending 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

21. 2026-03-17
    listed $385,000 Active 547-char remark

    Show marketing remark (547 chars)

    Sold **AS-IS**, this property presents an excellent opportunity for investors or owner-occupants looking to add value in one of Anchorage's most established and convenient neighborhoods.The 4-plex built in 1970 offers 3,266 SF ft of living space with two 2-bedroom units and two 1-bedroom units. The single-family home built in 1951 provides 1,335 SF ft including a basement, offering great potential for owner-occupancy, expansion, or additional rental use. 2023 Navien heating system updates both properties. Property has non-conforming status.

22. 1985-02-07
    soldstatus

ⓘ 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: $6,782 · $565/mo
• Projected year-2 tax: $6,782 · $565/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $65,616
• − Mortgage interest: −$18,765
• − Property taxes: −$6,782
• − Insurance: −$2,342
• − Repairs & maintenance: −$5,249
• − Management: −$5,249
• − Depreciation: −$9,745
• Taxable income: $17,483
• Est. tax owed @ 24.0%: −$4,196
• After-tax cash flow: $17,436/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): 16,486
• Household income: $103,880
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 643.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 61% Two or more races 10% Asian 9% Native American 8% Hispanic / Latino 7% Black 4% Pacific Islander 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Portuguese 3% Italian 2% Slovene 2%
• Foreign-born: 11% · Canada, South Korea, China
• Languages at home: 86% English-only · Tagalog/Filipino 4% Other Asian/Pacific 2% Spanish 2%

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: ▼ -193.57%
• Current HPI: 298.4457
• Rent YoY: ▲ 3.30%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

-13.0% since first listed

7 events — show timeline

• 2026-05-04 Price Changed $335,000 AKMLS
• 2026-05-04 Relisted — AKMLS
• 2026-04-23 Pending — AKMLS
• 2026-04-14 Relisted — AKMLS
• 2026-03-26 Pending — AKMLS
• 2026-03-17 Listed $385,000 AKMLS
• 1985-02-07 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $6,782 · +3.3% YoY. Source: county tax records.