8040 Woodgreen Cir

Anchorage, AK 99518

$319,000D+

3 bd · 2.0 ba · 1,494 sqft · Built 1982 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,364/mo
• Mortgage (P&I): −$1,673
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$496
• Net cashflow: $-357/mo
• Annual: $-4,283/yr
• Cap rate: 4.95%
• Cash-on-cash: -4.80%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $89,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $319k.
• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (25.9% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $236k (25.9% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (6.2% local appreciation)).
• 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: Campbell Stem Elementary (math 32% / reading 32%, grade F, #104 of 156 statewide, top 70%, 415 students, 47% FRL); Mears Middle School (math 30% / reading 47%, grade F, #17 of 36 statewide, top 46%, 733 students, 30% FRL); Dimond High School (math 37% / reading 41%, grade F, #23 of 61 statewide, top 37%, 1,443 students, 25% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 49 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 29y 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.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.0% vs local median 3.8% in Anchorage — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 30% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.
• 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.