3215 Eastgate Pl #301 · Anchorage, AK 99504

$160,000

2 bd · 1.5 ba · 1,178 sqft · Condo public records · 40 Days on market

Built 1974 $136/sqft · 36% below area Est $250k · 36% under $481/mo HOA · 27% 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Great price on this Eastview condo! Easy access to UMED and JBER. 2 bedrooms downstairs. Bathrooms on each level. Mostly vinyl flooring installed within the past 4 years. 2 parking spots. As-Is sale, seller will make no repairs.

Key facts

• 2 parking spots
• Easy access to umed
• Easy access to jber

Tags

• EASTVIEW CONDO
• EASY ACCESS TO UMED
• EASY ACCESS TO JBER
• VINYL FLOORING INSTALLED
• 2 PARKING SPOTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (24.6% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $121k (24.6% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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.

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: Baxter Elementary (math 32% / reading 27%, grade F, #112 of 156 statewide, top 74%, 269 students, 68% FRL); Wendler Middle School (math 19% / reading 36%, grade F, #29 of 36 statewide, top 80%, 422 students, 60% FRL); Bettye Davis East Anchorage High School (math 20% / reading 25%, grade F, #51 of 61 statewide, top 83%, 1,745 students, 71% FRL) — zoned schools average 66% FRL vs 38% district-wide (28 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 40 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $29k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $120,639 (24.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.11% ✓
• Cap rate: 4.62%
• Cash-on-cash: -5.97%
• DSCR: 0.73
• GRM: 7.5

CMA / ARV

• ARV (median comp): $249,547
• List price: $160,000
• Delta: -35.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -27.0%
• Equity multiple: 0.10×
• Total profit: $-40,536
• Equity at exit: $23,857

10-year hold

• IRR: -26.0%
• Equity multiple: -0.23×
• Total profit: $-55,276
• Equity at exit: $13,834

Cash invested: $44,800 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$839
• Tax from tax record: −$242 /mo · $2,901/yr
• Insurance: −$67
• HOA: −$481
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-223

Break-even live

Break-even rent $2,061

Max offer price $120,639

Occupancy floor —

Sensitivity live

Price	-10% $-132	-5% $-178	+0% $-223	+5% $-268	+10% $-313
Rent	-10% $-363	-5% $-293	+0% $-223	+5% $-153	+10% $-82
Rate	-1.0pp $-142	-0.5pp $-182	base $-223	+0.5pp $-264	+1.0pp $-306

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3230 Boniface Pkwy Unit 8 Anchorage, AK	1.0	1.0	780	$1,250	$1.60	45d	1	0.06mi
3310 Boniface Pkwy Unit 17 Anchorage, AK	2.0	1.0	900	$1,600	$1.78	45d	1	0.07mi
3350 Boniface Pkwy Unit 40 Anchorage, AK	1.0	1.0	780	$1,250	$1.60	25d	1	0.10mi
3410 Boniface Pkwy Unit 46 Anchorage, AK	2.0	1.0	900	$1,600	$1.78	25d	1	0.13mi
5814 E Northern Lights Blvd Anchorage, AK	2.0–3.0	1.0	933	$1,800	$1.93	45d	1	0.28mi
5824 Image Cir Anchorage, AK	2.0	1.0	900	$1,375	$1.53	15d	1	0.40mi
5971 Ridgelake Cir Anchorage, AK	3.0	2.0	1452	$3,000	$2.07	15d	1	0.43mi
3936 Boniface Pkwy Unit 3 Anchorage, AK	2.0	1.0	800	$1,400	$1.75	45d	1	0.43mi
4731 Mills Dr Anchorage, AK	1.0	1.0	700	$2,000	$2.86	45d	1	0.53mi
2405 Boniface Pkwy Unit 4 Anchorage, AK	2.0	1.5	850	$1,750	$2.06	45d	1	0.54mi
2432 Forget-Me-Not Ln Unit A Anchorage, AK	2.0	1.0	900	$1,499	$1.67	15d	1	0.54mi
2432 Glacier St Unit A Anchorage, AK	3.0	2.0	1388	$2,850	$2.05	25d	1	0.60mi
5781 Sapphire Loop Anchorage, AK	3.0	2.0	1443	$2,500	$1.73	45d	1	0.60mi
5703 Jennifer Cir Anchorage, AK	3.0	1.5	1400	$3,300	$2.36	15d	1	0.67mi
6131 Prosperity Dr Anchorage, AK	3.0	1.5	1250	$2,800	$2.24	15d	1	0.72mi
1916 Beaver Pl #1 Anchorage, AK	2.0	1.0	900	$1,500	$1.67	25d	1	0.96mi
4670 Reka Dr Unit G11 Anchorage, AK	2.0	1.5	926	$1,800	$1.94	45d	1	1.01mi
3400 Meadowbrook Cir Anchorage, AK	3.0	2.0	1500	$2,350	$1.57	15d	1	1.42mi
3430 E 42nd Ave #3 Anchorage, AK	2.0	1.0	800	$1,600	$2.00	45d	1	1.44mi
7533 Regal Mountain Dr Anchorage, AK	2.0	1.0	987	$3,000	$3.04	25d	1	1.45mi

HOA detail condo

• Monthly dues: $481 · $5,772/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-22
   statusdays on market $160,000 Pending 40 DOM
2. 2026-06-18
   days on market $160,000 Active 37 DOM
3. 2026-06-17
   days on market $160,000 Active 36 DOM
4. 2026-06-16
   days on market $160,000 Active 35 DOM
5. 2026-06-15
   days on market $160,000 Active 34 DOM
6. 2026-06-14
   days on market $160,000 Active 32 DOM
7. 2026-06-13
   days on market $160,000 Active 31 DOM
8. 2026-06-10
   days on market $160,000 Active 29 DOM
9. 2026-06-09
   days on market $160,000 Active 28 DOM
10. 2026-06-09
    pricestatusdays on market $160,000 Active 27 DOM
11. 2026-04-16
    listed $189,000 Active
12. 2025-10-01
    price $210,000
13. 2025-08-06
    price $225,000
14. 2025-06-24
    price $240,000
15. 2025-06-16
    listed $250,000 Active
16. 2025-04-26
    price $240,000
17. 2025-02-28
    price $245,000
18. 2024-11-15
    listed $260,000 Active
19. 2014-08-29
    soldstatus
20. 2013-01-29
    listed $134,900
21. 2008-03-28
    soldstatus
22. 2007-12-12
    soldstatus

ⓘ 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: $2,901 · $242/mo
• Projected year-2 tax: $2,901 · $242/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,351
• − Mortgage interest: −$8,962
• − Property taxes: −$2,901
• − Insurance: −$800
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − HOA: −$5,772
• − Depreciation: −$4,655
• Taxable loss: −$5,155
• Est. tax savings @ 24.0%: +$1,237
• After-tax cash flow: $-1,437/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

+40.1% since first listed

12 events — show timeline

• 2026-04-16 Listed $189,000 AKMLS
• 2025-10-01 Price Changed $210,000 AKMLS
• 2025-08-06 Price Changed $225,000 AKMLS
• 2025-06-24 Price Changed $240,000 AKMLS
• 2025-06-16 Listed $250,000 AKMLS
• 2025-04-26 Price Changed $240,000 AKMLS
• 2025-02-28 Price Changed $245,000 AKMLS
• 2024-11-15 Listed $260,000 AKMLS
• 2014-08-29 Sold (Public Records) — Public Records
• 2013-01-29 Listed $134,900 AKMLS
• 2008-03-28 Sold (Public Records) — Public Records
• 2007-12-12 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,901 · +6.1% YoY. Source: county tax records.