000 No Real Property · Sterling, AK 99672

$54,900

1 bd · 1.0 ba · 473 sqft · Other · 252 Days on market

Built 2001 Fair condition

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

Key facts

• Propane stove
• Private lot
• Vaulted ceiling

Tags

• PRIVATE LOT
• PROPANE STOVE
• VAULTED CEILING
• LOFT AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($814 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 1.4% in Sterling — 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 64/100 on livability (#30 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 14y ago; this cycle's ask has dropped $44k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.58%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.9%
• Equity multiple: 1.51×
• Total profit: $7,907
• Equity at exit: $8,186

10-year hold

• IRR: 21.8%
• Equity multiple: 2.86×
• Total profit: $28,555
• Equity at exit: $4,747

Cash invested: $15,372 (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 99672

• Home prices YoY: -16.0%
• Active inventory: 83
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $814 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $264

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 63%

Sensitivity live

Price	-10% $302	-5% $283	+0% $264	+5% $245	+10% $226
Rent	-10% $199	-5% $231	+0% $264	+5% $296	+10% $328
Rate	-1.0pp $291	-0.5pp $278	base $264	+0.5pp $249	+1.0pp $235

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-08
   days on market $54,900 Active 252 DOM
2. 2026-06-07
   days on market $54,900 Active 251 DOM
3. 2026-06-07
   days on market $54,900 Active 250 DOM
4. 2026-06-04
   days on market $54,900 Active 247 DOM
5. 2026-06-02
   days on market $54,900 Active 246 DOM
6. 2026-06-01
   days on market $54,900 Active 245 DOM
7. 2026-05-31
   days on market $54,900 Active 244 DOM
8. 2026-05-31
   days on market $54,900 Active 243 DOM
9. 2026-05-12
   price $59,000 343-char remark

   Show marketing remark (343 chars)

   TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

10. 2026-05-11
    price $55,000 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

11. 2026-04-20
    status Active 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

12. 2026-04-09
    status Pending 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

13. 2026-03-31
    price $69,000 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

14. 2025-10-02
    price $89,000 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

15. 2025-09-18
    listed $99,000 Active 343-char remark

    Show marketing remark (343 chars)

    TINY HOME features 1 Bedroom, 1 full bath, kitchen, Living area w/vaulted ceiling & Loft area for additional sleeping. Propane stove in living room, tank included. Currently on pilings w/metal skirting. TINY HOME IS ON A PRIVATE LOT,- PLEASE CALL YOUR REAL ESTATE LICENSEE OR A REALTOR FOR SHOWINGS. *Buyer responsible for moving the home.

16. 2025-02-11
    price $49,900
17. 2024-07-22
    listed $60,000 Active
18. 2024-07-06
    soldstatus Closed
19. 2024-06-19
    status Pending
20. 2024-06-17
    listed $56,500 Active
21. 2024-05-16
    price $15,000
22. 2024-04-30
    listed $20,000 Active
23. 2024-04-08
    listed $48,000 Active
24. 2024-03-26
    listed $63,900 Active
25. 2023-09-03
    listed $48,000 Active
26. 2023-08-29
    soldstatus Closed
27. 2023-07-18
    status Pending
28. 2023-07-13
    price $199,000
29. 2023-06-21
    listed $219,000 Active
30. 2018-01-22
    listed $7,500
31. 2016-07-19
    listed $22,000
32. 2016-04-30
    listed $25,000
33. 2015-03-05
    listed $19,000
34. 2013-10-31
    listed $24,500
35. 2013-05-31
    listed $110,000
36. 2012-03-27
    listed $32,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,768
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$781
• − Management: −$781
• − Depreciation: −$1,597
• Taxable income: $2,434
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $2,579/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

This tiny home is in fair condition with cosmetic repairs needed, particularly to the exterior siding and roof. It has potential for increased value with updates to the exterior and interior.

Repairs flagged

• Moderate Exterior siding — Weathered appearance suggests potential damage.
• Moderate Roof — No visible damage, but may need inspection for any issues.
• Moderate Exterior paint — Siding appears weathered, indicating potential need for repainting.
• Minor Flooring — Carpeted areas appear in fair condition, but may need cleaning or replacement if worn.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal.
• Rental Replace carpeted flooring — Fresh carpet can make the home more appealing to renters.
• Both Inspect and repair roof — A functional roof is essential for both resale and rental value.
• Resale Paint interior walls — Fresh paint can make the interior look more inviting and modern.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance suggests potential damage.	Moderate	$3,000–15,000
Roof · No visible damage, but may need inspection for any issues.	Moderate	$3,000–15,000
Exterior paint · Siding appears weathered, indicating potential need for repainting.	Moderate	$3,000–15,000
Flooring · Carpeted areas appear in fair condition, but may need cleaning or replacement if worn.	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal. ↑
• Rental Replace carpeted flooring — Fresh carpet can make the home more appealing to renters. ↑
• Both Inspect and repair roof — A functional roof is essential for both resale and rental value. ↑
• Resale Paint interior walls — Fresh paint can make the interior look more inviting and modern. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Sterling

• Score: 64/100
• State rank: #30
• US rank: #13938

Category grades

Amenities F Commute F Cost of living D- Crime C+ Employment A+ Housing A+ Health & safety C- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling, AK
• City population: 4,153
• Population (ZIP): 4,153

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Native American 3% Two or more races 3%
• Common ancestry: Slovak 5% Portuguese 4% Italian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Kenai Peninsula

• 2016 margin: R (+15.2) · D 37.7% · R 52.9% · Other 9.4%
• All cycles: 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.95%
• Current HPI: 193.7875
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+81.5% since first listed

28 events — show timeline

• 2026-05-12 Price Changed $59,000 AKMLS
• 2026-05-11 Price Changed $55,000 AKMLS
• 2026-04-20 Relisted — AKMLS
• 2026-04-09 Pending — AKMLS
• 2026-03-31 Price Changed $69,000 AKMLS
• 2025-10-02 Price Changed $89,000 AKMLS
• 2025-09-18 Listed $99,000 AKMLS
• 2025-02-11 Price Changed $49,900 AKMLS
• 2024-07-22 Listed $60,000 AKMLS
• 2024-07-06 Sold (MLS) — AKMLS
• 2024-06-19 Pending — AKMLS
• 2024-06-17 Listed $56,500 AKMLS
• 2024-05-16 Price Changed $15,000 AKMLS
• 2024-04-30 Listed $20,000 AKMLS
• 2024-04-08 Listed $48,000 AKMLS
• 2024-03-26 Listed $63,900 AKMLS
• 2023-09-03 Listed $48,000 AKMLS
• 2023-08-29 Sold (MLS) — AKMLS
• 2023-07-18 Pending — AKMLS
• 2023-07-13 Price Changed $199,000 AKMLS
• 2023-06-21 Listed $219,000 AKMLS
• 2018-01-22 Listed $7,500 AKMLS
• 2016-07-19 Listed $22,000 AKMLS
• 2016-04-30 Listed $25,000 AKMLS
• 2015-03-05 Listed $19,000 AKMLS
• 2013-10-31 Listed $24,500 AKMLS
• 2013-05-31 Listed $110,000 AKMLS
• 2012-03-27 Listed $32,500 AKMLS