894 Caribou Dr · Kotzebue, AK 99752

$369,000

8 bd · 4.0 ba · 3,128 sqft · MultiFamily · 37 Days on market

Built 1959 Fair condition 8,056 sqft lot ↓ 5% since listing

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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 +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Fourplex, each unit with two bedrooms and one bathroom. Three units have a heated common entry. Unit D also has a small arctic entry. Seller says tenants like the building and take care of their places well. Rare opportunity to own an income-producing fourplex in this area. Lots of potential. All units repainted, new heating being installed, + new water heaters being plumbed in too.

Key facts

• Units repainted
• New water heaters
• New heating

Tags

• INCOME-PRODUCING FOURPLEX
• UNITS REPAINTED
• NEW HEATING
• NEW WATER HEATERS

Property features AI

Finance

• Other: Lot size approximately 0.18 acres (about 8,056 sq ft); Living area reported as 3,128

Exterior

• Parking: 2 open parking spaces; No attached garage; No carport
• Utilities: Public sewer
• Home design: Multi-Family property; Built in 1959; Wood frame construction; Entry level information not provided; Facing direction not provided
• Construction: Wood frame construction; Foundation details not provided
• Exterior features: Unknown roof type

Interior

• Bedrooms: 8 bedrooms
• Bathrooms: 4 full bathrooms
• Interior features: Multi-family layout

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $369k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $394/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $369k).
• Recommended offer: $358k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#17 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute F.
• Northwest Arctic Borough School District (rural): math 6% / reading 7% proficiency, ranked #17 of 21 in AK (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kotzebue Middle/High School (math 17% / reading 17%, grade F, #55 of 61 statewide, top 92%, 328 students, 96% FRL) — zoned schools average 96% FRL vs 78% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 3 units permitted in Northwest Arctic Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($3k loan paydown + $11k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $103k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y 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: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $357,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.41% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• GRM: 5.9

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: 24.7%
• Equity multiple: 2.40×
• Total profit: $144,812
• Equity at exit: $165,918

10-year hold

• IRR: 25.5%
• Equity multiple: 4.63×
• Total profit: $375,141
• Equity at exit: $255,700

Cash invested: $103,320 (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 99752

• Active inventory: 5
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $5,221 medium
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,096
• Net cashflow: $1,575

Break-even live

Break-even rent $3,228

Max offer price $369,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,830	-5% $1,702	+0% $1,575	+5% $1,447	+10% $1,320
Rent	-10% $1,162	-5% $1,368	+0% $1,575	+5% $1,781	+10% $1,987
Rate	-1.0pp $1,760	-0.5pp $1,668	base $1,575	+0.5pp $1,479	+1.0pp $1,382

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,220
Total (4 units)			$5,221

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $369,000 Active 37 DOM
2. 2026-06-18
   days on market $369,000 Active 36 DOM
3. 2026-06-17
   days on market $369,000 Active 35 DOM
4. 2026-06-16
   days on market $369,000 Active 34 DOM
5. 2026-06-15
   days on market $369,000 Active 33 DOM
6. 2026-06-14
   days on market $369,000 Active 31 DOM
7. 2026-06-12
   days on market $369,000 Active 30 DOM
8. 2026-06-09
   days on market $369,000 Active 27 DOM
9. 2026-06-08
   days on market $369,000 Active 26 DOM
10. 2026-06-07
    days on market $369,000 Active 25 DOM
11. 2026-06-04
    days on market $369,000 Active 21 DOM
12. 2026-06-02
    days on market $369,000 Active 20 DOM
13. 2026-06-01
    days on market $369,000 Active 19 DOM
14. 2026-05-31
    days on market $369,000 Active 18 DOM
15. 2026-05-31
    days on market $369,000 Active 17 DOM
16. 2026-05-13
    listed $369,000 Active 385-char remark
17. 2025-12-30
    status Active
18. 2025-07-23
    price $350,000
19. 2025-05-21
    listed $369,000 Active
20. 2024-04-03
    listed $369,000 Active
21. 2022-05-26
    listed $369,900
22. 2021-03-31
    listed $379,900
23. 2020-05-20
    listed $379,900
24. 2018-04-25
    listed $389,900

ⓘ 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: $62,652
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$1,845
• − Repairs & maintenance: −$5,012
• − Management: −$5,012
• − Depreciation: −$10,735
• Taxable income: $13,843
• Est. tax owed @ 24.0%: −$3,322
• After-tax cash flow: $15,572/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 · 12 photos

Fair 45/100 Moderate rehab

This fourplex requires moderate repairs and updates to improve its condition and value. Focus on exterior siding, kitchen cabinets, bathroom fixtures, and flooring.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor kitchen cabinets — Slight wear
• Minor bathroom fixtures — Basic design
• Minor flooring — Some wear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both replace kitchen cabinets — Modernizes kitchen and improves resale value
• Both update bathroom fixtures — Modernizes bathrooms and improves resale value
• Both replace flooring — Modernizes living spaces and improves resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
kitchen cabinets · Slight wear	Minor	$500–3,000
bathroom fixtures · Basic design	Minor	$500–3,000
flooring · Some wear	Minor	$500–3,000
Total estimated repair cost · 4 items		$16,500–59,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both replace kitchen cabinets — Modernizes kitchen and improves resale value ↑
• Both update bathroom fixtures — Modernizes bathrooms and improves resale value ↑
• Both replace flooring — Modernizes living spaces and improves resale value ↑

ⓘ 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: Northwest Arctic Borough School District
• NCES district ID: 0200625
• Math proficiency: 6% ▼ -5.00%
• Reading proficiency: 7% ▼ -3.00%
• Median HH income: $59,455
• Composite: 7.63/100
• National rank: #9942
• State rank: #17 of 21 in AK

Livability — Kotzebue

• Score: 70/100
• State rank: #17
• US rank: #8128

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kotzebue, AK
• Population (ZIP): 3,129

Population outlook (Northwest Arctic County) Hauer SSP2

• Today (2025): 7,717 people
• By 2030: 7,673 · -0.6%
• By 2040: 7,631 · -1.1%
• By 2050: 7,494 · -2.9%
• By 2075: 7,266 · -5.8%
• By 2100: 6,994 · -9.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.96)
• Race & ethnicity: Native American 64% White 19% Two or more races 10% Hispanic / Latino 5% Asian 2% Black 1%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 80% English-only · Spanish 3% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Northwest Arctic

• 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.4% since first listed

9 events — show timeline

• 2026-05-13 Listed $369,000 AKMLS
• 2025-12-30 Relisted — AKMLS
• 2025-07-23 Price Changed $350,000 AKMLS
• 2025-05-21 Listed $369,000 AKMLS
• 2024-04-03 Listed $369,000 AKMLS
• 2022-05-26 Listed $369,900 AKMLS
• 2021-03-31 Listed $379,900 AKMLS
• 2020-05-20 Listed $379,900 AKMLS
• 2018-04-25 Listed $389,900 AKMLS