8050 Pioneer Dr #303 · Anchorage, AK 99504

$289,900

3 bd · 3.5 ba · 1,348 sqft · Condo public records · 47 Days on market

Built 1984 $297/mo HOA · 11% 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 +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming and spacious 3bed, 2bath, townhome with a 1 car garage. Abundant natural light fills the main living area, durable laminate throughout. Step outside to a private fenced backyard and deck, Recently upgraded sliding glass door, All bedrooms up plus two additional flexible spaces for office or study. Newer water heater for added efficiency.

Key facts

• New boiler
• New water heater
• $297 HOA

Tags

• PRIVATE FENCED BACKYARD
• UPGRADED SLIDING GLASS DOOR
• FLEXIBLE SPACES FOR OFFICE
• NEW BOILER
• NEW WATER HEATER

Property features AI

Finance

• HOA & community: HOA managed by PMSI; Monthly association fee of $297 covering water, sewer, and insurance

Exterior

• Parking: 1-car garage; No carport
• Utilities: Public sewer
• Home design: Condominium (attached); Built in 1984; Poured concrete foundation
• Construction: Composition/Shingle/Asphalt roof
• Exterior features: Fenced yard; Fire pit

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 3 bathrooms (2 full, 1 half)
• Interior features: Carpet flooring; Bedroom and bathroom on main level; Ceiling fans; Fireplace; Smoke detectors

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $10 ($121/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 $276k (4.6% below list).
• Recommended offer: $276k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Scenic Park Elementary (math 32% / reading 42%, grade F, #83 of 156 statewide, top 59%, 382 students, 39% FRL); Nicholas J. Begich Middle School (math 10% / reading 24%, grade F, #32 of 36 statewide, top 89%, 882 students, 78% FRL); Bartlett High School (math 22% / reading 27%, grade F, #42 of 61 statewide, top 82%, 1,373 students, 64% FRL) — zoned schools average 60% FRL vs 38% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 40% district-wide (-14 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 (+2.6%/yr); 217 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).
• This rent runs 38% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• It's been on market 47 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $276,494 (4.6% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
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: 0.95% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-47,381
• Equity at exit: $43,225

10-year hold

• IRR: -9.1%
• Equity multiple: 0.45×
• Total profit: $-44,684
• Equity at exit: $25,065

Cash invested: $81,172 (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 99504

• Rents YoY: 2.6%
• Active inventory: 217
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,765 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$236 /mo · $2,834/yr
• Insurance: −$121
• HOA: −$297
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $10

Break-even live

Break-even rent $2,752

Max offer price $289,900

Occupancy floor 95%

Sensitivity live

Price	-10% $174	-5% $92	+0% $10	+5% $-72	+10% $-154
Rent	-10% $-208	-5% $-99	+0% $10	+5% $119	+10% $228
Rate	-1.0pp $156	-0.5pp $84	base $10	+0.5pp $-65	+1.0pp $-141

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3841 Sycamore Loop Anchorage, AK	4.0	2.0	1568	$3,000	$1.91	46d	1	0.25mi
3622 Sycamore Loop Anchorage, AK	3.0	2.0	1866	$2,895	$1.55	45d	1	0.25mi
7533 Regal Mountain Dr Anchorage, AK	2.0	1.0	987	$3,000	$3.04	25d	1	0.28mi
3400 Meadowbrook Cir Anchorage, AK	3.0	2.0	1500	$2,350	$1.57	15d	1	0.44mi
5971 Ridgelake Cir Anchorage, AK	3.0	2.0	1452	$3,000	$2.07	15d	1	1.26mi
3844 Image Dr Anchorage, AK	4.0	2.0	1822	$4,000	$2.20	45d	1	1.34mi
5824 Image Cir Anchorage, AK	2.0	1.0	900	$1,375	$1.53	15d	1	1.36mi
5703 Jennifer Cir Anchorage, AK	3.0	1.5	1400	$3,300	$2.36	15d	1	1.42mi

HOA detail condo

• Monthly dues: $297 · $3,564/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-30
   status Pending
2. 2026-04-24
   price $289,900
3. 2026-04-01
   price $299,900
4. 2026-03-12
   listed $310,000 Active
5. 2022-06-27
   soldstatus
6. 2022-05-02
   status Pending
7. 2022-05-02
   price $236,000
8. 2022-04-29
   listed $224,900 Active
9. 2015-06-23
   soldstatus
10. 2015-04-17
    listed $189,000
11. 2010-02-01
    soldstatus
12. 2009-11-04
    listed $180,000
13. 2006-06-02
    soldstatus
14. 2006-05-01
    listed $169,750

ⓘ 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: $2,834 · $236/mo
• Projected year-2 tax: $3,142 · $262/mo
• Expected delta: +$308/yr (+$26/mo · 10.9%)

ⓘ 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: $33,179
• − Mortgage interest: −$16,239
• − Property taxes: −$2,834
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,654
• − Management: −$2,654
• − HOA: −$3,564
• − Depreciation: −$8,433
• Taxable loss: −$4,650
• Est. tax savings @ 24.0%: +$1,116
• After-tax cash flow: $1,237/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): 42,093
• Household income: $86,710
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1052.0

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 0.80)
• Race & ethnicity: White 41% Two or more races 18% Asian 13% Native American 9% Black 9% Hispanic / Latino 9% Pacific Islander 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Portuguese 2% Ukrainian 2% Romanian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Other Asian/Pacific 9% Spanish 4% Tagalog/Filipino 3%

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: ▼ -184.29%
• Current HPI: 259.8803
• Rent YoY: ▲ 2.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+70.8% since first listed

14 events — show timeline

• 2026-04-30 Pending — AKMLS
• 2026-04-24 Price Changed $289,900 AKMLS
• 2026-04-01 Price Changed $299,900 AKMLS
• 2026-03-12 Listed $310,000 AKMLS
• 2022-06-27 Sold (Public Records) — Public Records
• 2022-05-02 Pending — AKMLS
• 2022-05-02 Price Changed $236,000 AKMLS
• 2022-04-29 Listed $224,900 AKMLS
• 2015-06-23 Sold (Public Records) — Public Records
• 2015-04-17 Listed $189,000 AKMLS
• 2010-02-01 Sold (Public Records) — Public Records
• 2009-11-04 Listed $180,000 AKMLS
• 2006-06-02 Sold (Public Records) — Public Records
• 2006-05-01 Listed $169,750 AKMLS

Property tax history

+1.1%/yr

Latest (2025): $2,834 · +10.0% YoY. Source: county tax records.