17347 Flintwood Pl

Anchorage, AK 99577

$286,000C

4 bd · 2.0 ba · 1,513 sqft · Built 2005 · Condo · Pending · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,194/mo
• Mortgage (P&I): −$1,500
• Tax + insurance: −$477
• HOA: −$125
• Vac / Maint / Mgmt: −$671
• Net cashflow: $422/mo
• Annual: $5,063/yr
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• 1% rule: 1.12%
• Cash to close: $80,080

Investor read

• This is a 4-bed/2.0-bath condo listed at $286k.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $286k).
• It's been on market 44 days — a 3% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $277k (3.0% below list) — sets the bar for market timing.
• 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.
• 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: Fire Lake Elementary (math 37% / reading 37%, grade F, #83 of 156 statewide, top 59%, 229 students, 39% FRL); Mirror Lake Middle School (math 39% / reading 53%, grade D+, #10 of 36 statewide, top 26%, 563 students, 21% FRL); Chugiak High School (math 42% / reading 42%, grade F, #17 of 61 statewide, top 32%, 905 students, 19% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 242 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 2 sale attempts since 2y ago; this cycle's ask is 46% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $80k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 8.1% 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.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.