8971 Mast Cir · Anchorage, AK 99502

$229,750

4 bd · 2.0 ba · 1,332 sqft · Townhouse public records · 18 Days on market

Built 1985 3,372 sqft lot Est $310k · 26% under

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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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Hard to Find 4 Bedroom 2 Full Bath ZLL home in South Anchorage with a fenced yard. Its a fixer Upper but this one wont last long! And no HOA Dues! This is an acquired property sold ''As-Is'' for cash or terms acceptable to the seller. This property may qualify for Seller Financing (Vendee. )

Key facts

• 3,372 sq ft lot
• Built 1985
• Listed 18 days

Property features AI

Exterior

• Parking: No garage; No carport
• Utilities: Public sewer
• Home design: Residential property; Attached property; Built in 1985; Wood frame construction; Other foundation
• Construction: Wood frame construction; Shingle (asphalt) roof; Other foundation; Built in 1985
• Exterior features: Shingle (asphalt) roof; Paved road access

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms (2 total bathrooms)
• Interior features: Fenced yard; Located in city limits; Road service area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Chinook Elementary (math 32% / reading 37%, grade F, #93 of 156 statewide, top 66%, 481 students, 78% 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).
• Market conditions: Rents rising fast (+4.6%/yr); 139 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $2k of loan paydown is wiped out by about $7k 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 18 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 31y 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 $226,303 (1.5% 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. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $310,356
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8945 Arlene St #4	0.31mi	3/2.0 (-1)	1,215 (-9%)	1mo	$317,000	$261	65
9112 Dewberry St #2	0.14mi	3/2.0 (-1)	1,459 (+10%)	9mo	$340,000	$233	65
8841 Arlene St	0.31mi	3/2.5 (-1)	1,369 (+3%)	12mo	$302,500	$221	64
3425 Murphy Cir Unit B	0.32mi	3/2.0 (-1)	1,464 (+10%)	7mo	$329,900	$225	58
8601 Sara Lynn Pl #6	0.59mi	3/1.5 (-1)	1,300 (-2%)	13mo	$275,000	$212	51
8515 Jewel Lake Rd #25	0.52mi	3/2.0 (-1)	1,160 (-13%)	9mo	$225,000	$194	41
9415 Liberty Cir #126	0.73mi	3/1.5 (-1)	1,185 (-11%)	0mo	$298,000	$251	40
9665 Victor Rd Unit 7B	0.71mi	3/1.5 (-1)	1,193 (-10%)	4mo	$288,800	$242	40
9251 Jewel Lake Rd #2	0.49mi	3/2.5 (-1)	1,493 (+12%)	13mo	$174,900	$117	39
8515 Jewel Lake Rd #20	0.52mi	3/2.0 (-1)	1,160 (-13%)	13mo	$245,000	$211	38
9438 Liberty Cir #123	0.72mi	3/2.0 (-1)	1,164 (-13%)	8mo	$300,000	$258	34
9520 Liberty Cir #120	0.74mi	3/2.0 (-1)	1,164 (-13%)	14mo	$272,000	$234	28

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-6,692
• Equity at exit: $34,256

10-year hold

• IRR: 8.6%
• Equity multiple: 1.71×
• Total profit: $45,460
• Equity at exit: $19,865

Cash invested: $64,330 (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 99502

• Rents YoY: 4.6%
• Active inventory: 139
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,513 medium
• Mortgage (P&I): −$1,205
• Tax from tax record: −$269 /mo · $3,229/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $416

Break-even live

Break-even rent $1,987

Max offer price $229,750

Occupancy floor 78%

Sensitivity live

Price	-10% $546	-5% $481	+0% $416	+5% $351	+10% $286
Rent	-10% $217	-5% $316	+0% $416	+5% $515	+10% $614
Rate	-1.0pp $531	-0.5pp $474	base $416	+0.5pp $356	+1.0pp $296

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: $57,438
• Closing costs: $6,892
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8848 Boom Cir Anchorage, AK	3.0	3.0	1480	$2,500	$1.69	24d	1	0.11mi
3104 Draco Dr Anchorage, AK	3.0	2.0	1512	$2,500	$1.65	24d	1	0.84mi
9214 Kirkwall Cir Anchorage, AK	3.0	2.0	1518	$2,600	$1.71	45d	1	0.86mi
1008 W 80th Ave Anchorage, AK	3.0	1.5	1267	$2,400	$1.89	45d	1	1.48mi

Listing history 11 events

1. 2026-04-13
   status Pending
2. 2026-03-26
   listed $229,750 Active
3. 2021-08-11
   price $260,000
4. 2021-08-04
   listed $279,000 Active
5. 2015-11-12
   listed $189,000
6. 2008-03-19
   soldstatus
7. 2007-07-26
   listed $177,500
8. 2001-04-11
   soldstatus
9. 2001-02-13
   listed $124,900
10. 1995-09-07
    soldstatus
11. 1995-06-09
    listed $92,000

ⓘ 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: $3,229 · $269/mo
• Projected year-2 tax: $3,229 · $269/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $30,158
• − Mortgage interest: −$12,870
• − Property taxes: −$3,229
• − Insurance: −$1,149
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$6,684
• Taxable income: $1,402
• Est. tax owed @ 24.0%: −$336
• After-tax cash flow: $4,652/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): 25,006
• Household income: $116,071
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 384.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 58% Two or more races 14% Native American 10% Asian 9% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Italian 3% Slovak 3%
• Foreign-born: 9% · South Korea, Canada
• Languages at home: 85% English-only · Spanish 6% Other Asian/Pacific 2% Tagalog/Filipino 2%

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: ▼ -205.90%
• Current HPI: 290.7795
• Rent YoY: ▲ 4.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+149.7% since first listed

11 events — show timeline

• 2026-04-13 Pending — AKMLS
• 2026-03-26 Listed $229,750 AKMLS
• 2021-08-11 Price Changed $260,000 AKMLS
• 2021-08-04 Listed $279,000 AKMLS
• 2015-11-12 Listed $189,000 AKMLS
• 2008-03-19 Sold (Public Records) — Public Records
• 2007-07-26 Listed $177,500 AKMLS
• 2001-04-11 Sold (Public Records) — Public Records
• 2001-02-13 Listed $124,900 AKMLS
• 1995-09-07 Sold (Public Records) — Public Records
• 1995-06-09 Listed $92,000 AKMLS

Property tax history

+1.4%/yr

Latest (2025): $3,229 · +8.1% YoY. Source: county tax records.