4027 E 8th Ave · Anchorage, AK 99508

$645,000

12 bd · 4.0 ba · 3,864 sqft · MultiFamily · 13 Days on market

Built 1962 Fair condition 7,000 sqft lot Est $649k · at est.

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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 +18.8/30.0
• ARV discount +7.8/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Key facts

• 7,000 sq ft lot
• 8 parking spots
• Built 1962

Property features AI

Exterior

• Parking: 8 open parking spaces; No attached garage
• Utilities: Public sewer
• Home design: Multi-Family property; Built in 1962; Foundation: Unknown
• Construction: Metal roof; Foundation details listed as unknown
• Exterior features: Paved road access; Metal roof

Interior

• Bedrooms: 12 bedrooms
• Bathrooms: 4 full bathrooms
• Interior features: Total of 4 bathrooms (all full baths)

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $645k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive. Per door: $163/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $645k).
• Cap rate 7.5% 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.
• Market conditions: Rents rising fast (+4.9%/yr); 147 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $6,469/mo this rent would consume 98% of the median local household income ($79k/yr) (locally 1248% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $645,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $649,152
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4027 E 8th Ave	0.00mi	12/4.0	3,864 (0%)	18mo	$485,000	$126	85
4319 San Roberto Ave	0.22mi	12/4.0	3,979 (+3%)	2mo	$669,000	$168	83

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-50,361
• Equity at exit: $96,172

10-year hold

• IRR: 4.4%
• Equity multiple: 1.35×
• Total profit: $63,259
• Equity at exit: $55,768

Cash invested: $180,600 (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 99508

• Rents YoY: 4.9%
• Active inventory: 147
• Price-to-rent: 33.2×

Monthly cashflow live

• Estimated rent: $6,469 high
• Mortgage (P&I): −$3,382
• Tax est. 1.5%: −$806 /mo · $9,675/yr
• Insurance: −$269
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,358
• Net cashflow: $653

Break-even live

Break-even rent $5,642

Max offer price $645,000

Occupancy floor 85%

Sensitivity live

Price	-10% $1,099	-5% $876	+0% $653	+5% $430	+10% $207
Rent	-10% $142	-5% $398	+0% $653	+5% $909	+10% $1,164
Rate	-1.0pp $978	-0.5pp $817	base $653	+0.5pp $486	+1.0pp $316

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$6,468
Total (4 units)			$6,469

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: $161,250
• Closing costs: $19,350
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $645,000 Active 13 DOM
2. 2026-06-17
   days on market $645,000 Active 12 DOM
3. 2026-06-16
   days on market $645,000 Active 11 DOM
4. 2026-06-15
   days on market $645,000 Active 10 DOM
5. 2026-06-14
   days on market $645,000 Active 8 DOM
6. 2026-06-13
   days on market $645,000 Active 7 DOM
7. 2026-06-10
   days on market $645,000 Active 5 DOM
8. 2026-06-09
   days on market $645,000 Active 4 DOM
9. 2026-06-08
   days on market $645,000 Active 3 DOM
10. 2026-06-07
    listed $645,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 61% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $77,628
• − Mortgage interest: −$36,130
• − Property taxes: −$9,675
• − Insurance: −$3,225
• − Repairs & maintenance: −$6,210
• − Management: −$6,210
• − Depreciation: −$18,764
• Taxable loss: −$2,586
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $8,457/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 · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include exterior siding, flooring, and interior walls. Upgrades in these areas would significantly enhance its resale and rental value.

Repairs flagged

• Major Exterior siding — Weathered and may need repainting.
• Minor Kitchen cabinets — Standard condition, no visible damage.
• Minor Bathroom fixtures — Basic fixtures, no visible damage.
• Moderate Flooring — Worn appearance, may need replacement or refinishing.
• Moderate Interior walls/paint — Signs of wear, may need repainting.
• Minor Windows — Functional but may need cleaning.
• Minor HVAC system — Standard system, no visible damage.
• Major Landscaping — Basic and may need improvement to enhance curb appeal.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace worn flooring — Improves living space and rental appeal
• Both Repaint interior walls and ceilings — Enhances interior appearance and value
• Both Clean and maintain HVAC system — Ensures comfort and energy efficiency
• Both Improve landscaping — Enhances curb appeal and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and may need repainting.	Major	$15,000–50,000
Kitchen cabinets · Standard condition, no visible damage.	Minor	$500–3,000
Bathroom fixtures · Basic fixtures, no visible damage.	Minor	$500–3,000
Flooring · Worn appearance, may need replacement or refinishing.	Moderate	$3,000–15,000
Interior walls/paint · Signs of wear, may need repainting.	Moderate	$3,000–15,000
Windows · Functional but may need cleaning.	Minor	$500–3,000
HVAC system · Standard system, no visible damage.	Minor	$500–3,000
Landscaping · Basic and may need improvement to enhance curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$38,000–142,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace worn flooring — Improves living space and rental appeal ↑
• Both Repaint interior walls and ceilings — Enhances interior appearance and value ↑
• Both Clean and maintain HVAC system — Ensures comfort and energy efficiency ↑
• Both Improve landscaping — Enhances curb appeal and rental appeal ↑

ⓘ 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: 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): 36,458
• Household income: $79,314
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1248.0

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 0.82)
• Race & ethnicity: White 38% Two or more races 14% Asian 13% Hispanic / Latino 13% Native American 10% Pacific Islander 8% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Portuguese 3% Iranian 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica, South Korea
• Languages at home: 72% English-only · Other Asian/Pacific 11% Spanish 8% Tagalog/Filipino 4%

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: ▼ -203.51%
• Current HPI: 257.8807
• Rent YoY: ▲ 4.88%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-05 Listed $645,000 AKMLS