24531 Homestead Rd · Anchorage, AK 99567

$498,000

3 bd · 2.5 ba · 1,766 sqft · SingleFamily public records · 13 Days on market

Built 2009 0.76 ac lot Est $450k · 11% over

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Why this score? — see what drove the D- 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 +14.2/30.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming ranch-style home features open kitchen with quartz countertops & stainless steel appliances. It boasts vaulted ceilings, luxury vinyl plank flooring, & numerous updates . With 3 bedrooms & 3 baths, there is also a bonus room that can serve as 4th bedroom. The open-concept living space is perfect for entertaining plus private, spacious yard. Seller to close once school is out. and inviting. Additionally, there is a large shed for all your outdoor equipment. The location offers easy access for commuting and provides beautiful mountain views

Key facts

• Quartz countertops
• Bonus room
• Vaulted ceilings

Tags

• OPEN KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• VAULTED CEILINGS
• LUXURY VINYL PLANK FLOORING
• BONUS ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $498k.

Deal economics

• At list price, monthly cash flow is $79 ($942/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (15.7% below list).
• Recommended offer: $420k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $15k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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.

Recommended offer $420,000 (15.7% below list)

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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $450,330
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24531 Homestead Rd	0.00mi	3/3.0	1,766 (0%)	0mo	$498,000	$282	98
21305 Settlers Dr	0.08mi	3/1.0	1,781 (+1%)	5mo	$215,000	$121	84
21049 Sparkle Dr	0.08mi	3/2.5	1,629 (-8%)	7mo	$503,000	$309	77
21132 Meadow Lake Dr	0.33mi	3/3.0	1,768 (+0%)	13mo	$450,000	$255	72
21412 Settlers Dr	0.21mi	3/2.0	1,656 (-6%)	8mo	$219,900	$133	71
24450 Park Dr	0.19mi	4/2.0 (+1)	1,660 (-6%)	19mo	$450,000	$271	58
21137 Frosty Dr	0.12mi	3/2.5	2,000 (+13%)	22mo	$480,000	$240	54
22415 Miller Rd	0.75mi	3/2.0	2,016 (+14%)	17mo	$275,000	$136	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-75,757
• Equity at exit: $74,253

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-59,775
• Equity at exit: $43,058

Cash invested: $139,440 (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: 94
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $4,200 medium
• Mortgage (P&I): −$2,612
• Tax from tax record: −$420 /mo · $5,045/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $79

Break-even live

Break-even rent $4,101

Max offer price $498,000

Occupancy floor 93%

Sensitivity live

Price	-10% $360	-5% $219	+0% $79	+5% $-62	+10% $-203
Rent	-10% $-253	-5% $-87	+0% $79	+5% $244	+10% $410
Rate	-1.0pp $329	-0.5pp $205	base $79	+0.5pp $-51	+1.0pp $-182

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: $124,500
• Closing costs: $14,940
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19452 Sullins Dr Chugiak, AK	4.0	2.5	2617	$4,200	$1.60	46d	1	1.07mi

Listing history 8 events

1. 2026-03-21
   status Pending
2. 2026-03-14
   status Active
3. 2026-03-03
   status Pending
4. 2026-02-26
   listed $498,000 Active
5. 2019-04-23
   soldstatus
6. 2019-02-27
   listed $350,000
7. 2009-11-23
   listed $330,000
8. 1997-10-28
   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: $5,045 · $420/mo
• Projected year-2 tax: $5,486 · $457/mo
• Expected delta: +$441/yr (+$37/mo · 8.7%)

ⓘ 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: $50,400
• − Mortgage interest: −$27,896
• − Property taxes: −$5,045
• − Insurance: −$2,490
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − Depreciation: −$14,487
• Taxable loss: −$7,582
• Est. tax savings @ 24.0%: +$1,820
• After-tax cash flow: $2,762/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

+50.9% since first listed

8 events — show timeline

• 2026-03-21 Pending — AKMLS
• 2026-03-14 Relisted — AKMLS
• 2026-03-03 Pending — AKMLS
• 2026-02-26 Listed $498,000 AKMLS
• 2019-04-23 Sold (Public Records) — Public Records
• 2019-02-27 Listed $350,000 AKMLS
• 2009-11-23 Listed $330,000 AKMLS
• 1997-10-28 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $5,045 · +2.4% YoY. Source: county tax records.