4333 San Ernesto Ave Unit W208 · Anchorage, AK 99508

$119,000

1 bd · 1.0 ba · 564 sqft · Condo public records · 1 Days on market

Built 1975 $296/mo HOA · 22% of rent

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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 +14.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home, this cozy 1-bed, 1-bath condo is all set for you to settle in and make it your own. Step inside and find the kitchen to your right, freshly updated with brand-new appliances, a spacious bar perfect for casual dining or entertaining. Beyond the kitchen is the living space awaiting your personal touch. Down the hall, you'll discover the bedroom, bathroom, and convenient laundry. Storage is a breeze closets in the bedroom, and a dedicated storage space in the building. Along with a dedicated carport space out back. This unit in particular has their parking space located very close to the rear entry door. Fresh updates include - New entry door - New bathroom door - New bifold door

Key facts

• Brand new appliances
• New entry door
• Spacious bar

Tags

• FRESHLY UPDATED KITCHEN
• BRAND NEW APPLIANCES
• SPACIOUS BAR
• DEDICATED STORAGE SPACE
• DEDICATED CARPORT SPACE
• NEW ENTRY DOOR

Property features AI

Finance

• HOA & community: Association with monthly fee; Monthly association fee of $296.06; HOA covers water and heat (and other items listed in remarks)

Exterior

• Parking: 1 covered carport space; No garage
• Utilities: Public sewer
• Home design: Condominium; Attached unit; Built in 1975; Wood frame construction; Other foundation type
• Construction: Wood frame construction; Asphalt roof; Other foundation type; Built in 1975
• Exterior features: Asphalt roof; Paved road access

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: In-city location; Covenant/restriction applies

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $22 ($265/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• 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: Williwaw Elementary (math 17% / reading 17%, grade F, #139 of 156 statewide, top 92%, 305 students, 96% FRL); Clark Middle School (math 7% / reading 22%, grade F, #35 of 36 statewide, top 97%, 835 students, 100% FRL) — zoned schools average 98% FRL vs 38% district-wide (60 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 40% district-wide (-24 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 fast (+4.9%/yr); 147 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $823 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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: 1.13% ✓
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-15,124
• Equity at exit: $17,743

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $346
• Equity at exit: $10,289

Cash invested: $33,320 (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 99508

• Rents YoY: 4.9%
• Active inventory: 147
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,347 high
• Mortgage (P&I): −$624
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$50
• HOA: −$296
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $22

Break-even live

Break-even rent $1,320

Max offer price $119,000

Occupancy floor 93%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 S Flower St Unit 12 Anchorage, AK	2.0	1.0	650	$1,300	$2.00	13d	1	0.53mi
330 S Flower St Unit 01 Anchorage, AK	2.0	1.0	700	$1,300	$1.86	43d	1	0.54mi
4545 Reka Dr Anchorage, AK	1.0–2.0	1.0	562	$1,395	$2.48	13d	10	0.55mi
218 McCarrey St Anchorage, AK	3.0	1.0	640	$1,335	$2.09	21d	9	0.67mi
225 N Park St Unit 11 Anchorage, AK	2.0	1.0	710	$1,200	$1.69	43d	1	0.87mi
404 N Klevin St Unit 2 Anchorage, AK	1.0	1.0	750	$1,095	$1.46	43d	1	0.99mi
415 N Bragaw St Anchorage, AK	1.0–2.0	1.0	700	$1,350	$1.93	13d	3	1.02mi
415 N Bragaw St #18 Anchorage, AK	1.0	1.0	700	$1,400	$2.00	43d	1	1.02mi
601 N Klevin St Unit 02 Anchorage, AK	—	1.0	500	$1,095	$2.19	43d	1	1.09mi
5901 E 6th Ave Anchorage, AK	2.0–3.0	1.0–2.0	907	$1,999	$2.20	13d	7	1.14mi
5340 E 26th Ave Anchorage, AK	1.0	1.0	445	$1,306	$2.94	13d	3	1.28mi
4731 Mills Dr Anchorage, AK	1.0	1.0	700	$2,000	$2.86	43d	1	1.39mi
6701 E 6th Ave Apt 8 Anchorage, AK	2.0	1.0	750	$1,450	$1.93	43d	1	1.50mi

HOA detail condo

• Monthly dues: $296 · $3,552/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $119,000 Active 1 DOM

ⓘ 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: $873 · $73/mo
• Projected year-2 tax: $1,145 · $95/mo
• Expected delta: +$271/yr (+$23/mo · 31.1%)

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

Taxation est. · year 1

• Rental income: $16,170
• − Mortgage interest: −$6,666
• − Property taxes: −$873
• − Insurance: −$595
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − HOA: −$3,552
• − Depreciation: −$3,462
• Taxable loss: −$1,566
• Est. tax savings @ 24.0%: +$376
• After-tax cash flow: $641/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): 36,458
• Household income: $79,314
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1248.0

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 0.82)
• Race & ethnicity: White 38% Two or more races 14% Asian 13% Hispanic / Latino 13% Native American 10% Pacific Islander 8% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Portuguese 3% Iranian 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica, South Korea
• Languages at home: 72% English-only · Other Asian/Pacific 11% Spanish 8% Tagalog/Filipino 4%

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: ▼ -203.51%
• Current HPI: 257.8807
• Rent YoY: ▲ 4.88%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+95.4% since first listed

6 events — show timeline

• 2026-06-18 Listed $119,000 AKMLS
• 2025-11-17 Price Changed $129,900 AKMLS
• 2025-11-01 Price Changed $136,000 AKMLS
• 2025-09-19 Listed $138,000 AKMLS
• 2015-06-30 Sold (Public Records) — Public Records
• 2015-04-09 Listed $60,900 AKMLS

Property tax history

-0.9%/yr

Latest (2025): $873 · +11.7% YoY. Source: county tax records.