1051 Eastwood Ln · Steele Creek, AK 99712

$89,900

2 bd · 2.0 ba · 867 sqft · SingleFamily public records · 23 Days on market

Built 1979 3.30 ac lot

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Why this score? — see what drove the C+ 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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Home and property and so so many treasures await. This house is being offered on two lots with a total of 3.3 acres. The owner, now deceased, spent decades hauling items large and small to the property and the property is being offered as-is. The foundation of the house appears to be all weather wood but that is the listing representative’s best guess. At one point the house was habitable since there is a well somewhere and a septic system and electricity to the house is functional, however, it is believed that the heating system is not. Bring a flashlight and exercise caution when viewing.

Key facts

• 3.3 acre lot
• Garage
• Built 1979

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private well water
• Home design: Single-family residential property; General Use District - 1 zoning
• Exterior features: Metal roof

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 3 full bathrooms
• Interior features: Full, unfinished basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.0% in Steele Creek — 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 64/100 on livability (#37 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime D+, amenities F, commute F.
• Fairbanks North Star Borough School District (urban): math 33% / reading 45% proficiency, ranked #10 of 21 in AK (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Weller Elementary (math 47% / reading 52%, grade D, #55 of 156 statewide, top 37%, 467 students, 32% FRL); Tanana Middle School (math 23% / reading 44%, grade F, #24 of 36 statewide, top 69%, 545 students, 40% FRL); Lathrop High School (math 32% / reading 42%, grade F, #24 of 61 statewide, top 42%, 886 students, 36% FRL).
• Market conditions: 149 active listings in the ZIP; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.28% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 6.5

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,837
• Equity at exit: $13,404

10-year hold

• IRR: 7.8%
• Equity multiple: 1.60×
• Total profit: $14,990
• Equity at exit: $7,773

Cash invested: $25,172 (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 99712

• Home prices YoY: -24.2%
• Active inventory: 149
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,149 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$200 /mo · $2,399/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $199

Break-even live

Break-even rent $897

Max offer price $89,900

Occupancy floor 78%

Sensitivity live

Price	-10% $250	-5% $224	+0% $199	+5% $173	+10% $148
Rent	-10% $108	-5% $153	+0% $199	+5% $244	+10% $290
Rate	-1.0pp $244	-0.5pp $222	base $199	+0.5pp $175	+1.0pp $152

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $89,900 Active 23 DOM
2. 2026-06-18
   days on market $89,900 Active 22 DOM
3. 2026-06-17
   price $89,900 Active 21 DOM
4. 2026-06-17
   days on market $99,900 Active 21 DOM
5. 2026-06-16
   days on market $99,900 Active 20 DOM
6. 2026-06-15
   days on market $99,900 Active 19 DOM
7. 2026-06-14
   days on market $99,900 Active 17 DOM
8. 2026-06-13
   days on market $99,900 Active 16 DOM
9. 2026-06-10
   days on market $99,900 Active 14 DOM
10. 2026-06-09
    days on market $99,900 Active 13 DOM
11. 2026-06-08
    days on market $99,900 Active 12 DOM
12. 2026-06-05
    days on market $99,900 Active 8 DOM
13. 2026-06-03
    days on market $99,900 Active 7 DOM
14. 2026-06-02
    days on market $99,900 Active 6 DOM
15. 2026-06-01
    days on market $99,900 Active 5 DOM
16. 2026-05-31
    days on market $99,900 Active 4 DOM
17. 2026-05-30
    days on market $99,900 Active 3 DOM
18. 2026-05-27
    listed $99,900 Active
19. 2025-08-29
    listed $99,900 Active

ⓘ 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: $2,399 · $200/mo
• Projected year-2 tax: $2,399 · $200/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: $13,786
• − Mortgage interest: −$5,036
• − Property taxes: −$2,399
• − Insurance: −$450
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$2,615
• Taxable income: $1,081
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $2,126/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: Fairbanks North Star Borough School District
• NCES district ID: 0200600
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $69,697
• Composite: 35.5/100
• National rank: #4915
• State rank: #10 of 21 in AK

Livability — Steele Creek

• Score: 64/100
• State rank: #37
• US rank: #14515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steele Creek, AK
• Population (ZIP): 12,070

Population outlook (Fairbanks North Star County) Hauer SSP2

• Today (2025): 101,607 people
• By 2030: 102,796 · +1.2%
• By 2040: 104,748 · +3.1%
• By 2050: 107,598 · +5.9%
• By 2075: 118,829 · +16.9%
• By 2100: 127,151 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Native American 9% Two or more races 8% Hispanic / Latino 5% Asian 2%
• Common ancestry: Italian 4% Portuguese 3% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Fairbanks North Star

• 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: ▼ -47.35%
• Current HPI: 148.2472
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $99,900 GFBR
• 2025-08-29 Listed $99,900 GFBR

Property tax history

+1.6%/yr

Latest (2025): $2,399 · +3.0% YoY. Source: county tax records.