21220 Monron St · Anchorage, AK 99567

$196,000

3 bd · 2.0 ba · 2,416 sqft · SingleFamily public records · 96 Days on market

Built 1960 Poor condition 0.42 ac lot $81/sqft · 70% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1.5 Story Chugiak home w/3BR/2BA on a corner lot. Well treed for privacy. Storage shed. Located in a quiet neighborhood that is just a few minutes drive to restaurants, gas, and groceries. Do not miss out on this opportunity for sweat equity or investment! Call to schedule a showing today!

Key facts

• Storage shed
• Well treed
• Quiet neighborhood

Tags

• CORNER LOT
• WELL TREED
• STORAGE SHED
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $196k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $196k).
• Recommended offer: $178k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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.
• Zoned schools: Chugiak Elementary (math 62% / reading 52%, grade C+, #25 of 156 statewide, top 18%, 448 students, 17% 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) — zoned schools average 19% FRL vs 38% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• This rent runs 39% of the median local income ($128k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $84k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.

Recommended offer $178,360 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 2.14% ✓
• Cap rate: 17.28%
• Cash-on-cash: 39.24%
• DSCR: 2.75
• GRM: 3.9

CMA / ARV

• ARV (median comp): $488,566
• List price: $196,000
• Delta: -59.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21212 Rock Ptarmigan St	0.19mi	3/3.0	2,411 (-0%)	0mo	$610,000	$253	87
21050 Meadow Lake Dr	0.18mi	3/3.0	2,314 (-4%)	1mo	$575,000	$248	80
21635 Settlers Dr	0.34mi	3/3.0	2,364 (-2%)	4mo	$350,000	$148	73
20910 Country View Dr	0.24mi	3/2.0	2,144 (-11%)	1mo	$450,000	$210	69
20527 Mark Cir	0.46mi	3/1.5	2,492 (+3%)	5mo	$659,000	$264	67
25220 Schaff Dr	0.43mi	3/2.5	2,212 (-8%)	7mo	$549,000	$248	58
24236 Hearthstone Dr	0.34mi	3/2.0	2,243 (-7%)	22mo	$419,000	$187	54
20903 Chickadee St	0.58mi	3/2.0	2,057 (-15%)	21mo	$449,900	$219	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 2.51×
• Total profit: $82,701
• Equity at exit: $29,224

10-year hold

• IRR: 42.3%
• Equity multiple: 5.01×
• Total profit: $219,865
• Equity at exit: $16,946

Cash invested: $54,880 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 8 under contract
• Months of supply: 2.4 mo (42%/mo absorbed)
• Median asking: $610,000 ($251/sqft)
• Median days on market: 31 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -19.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 99567

• Home prices YoY: -4.7%
• Active inventory: 121
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $4,200 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$414 /mo · $4,968/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $1,795

Break-even live

Break-even rent $1,928

Max offer price $196,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,905	-5% $1,850	+0% $1,795	+5% $1,739	+10% $1,684
Rent	-10% $1,463	-5% $1,629	+0% $1,795	+5% $1,960	+10% $2,126
Rate	-1.0pp $1,893	-0.5pp $1,844	base $1,795	+0.5pp $1,744	+1.0pp $1,692

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: $49,000
• Closing costs: $5,880
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19452 Sullins Dr Chugiak, AK	4.0	2.5	2617	$4,200	$1.60	93d	1	1.08mi

Listing history 50 events

1. 2026-08-08
   days on market $196,000 Active 96 DOM
2. 2026-08-07
   days on market $196,000 Active 95 DOM
3. 2026-08-06
   days on market $196,000 Active 94 DOM
4. 2026-08-05
   days on market $196,000 Active 93 DOM
5. 2026-08-04
   days on market $196,000 Active 92 DOM
6. 2026-08-03
   days on market $196,000 Active 91 DOM
7. 2026-07-31
   days on market $196,000 Active 88 DOM
8. 2026-07-30
   days on market $196,000 Active 87 DOM
9. 2026-07-29
   days on market $196,000 Active 86 DOM
10. 2026-07-27
    days on market $196,000 Active 84 DOM
11. 2026-07-25
    days on market $196,000 Active 82 DOM
12. 2026-07-24
    days on market $196,000 Active 81 DOM
13. 2026-07-23
    days on market $196,000 Active 80 DOM
14. 2026-07-22
    days on market $196,000 Active 79 DOM
15. 2026-07-21
    days on market $196,000 Active 78 DOM
16. 2026-07-18
    days on market $196,000 Active 75 DOM
17. 2026-07-16
    days on market $196,000 Active 73 DOM
18. 2026-07-16
    pricedays on market $196,000 Active 72 DOM
19. 2026-07-14
    days on market $224,000 Active 71 DOM
20. 2026-07-13
    days on market $224,000 Active 70 DOM
21. 2026-07-12
    days on market $224,000 Active 69 DOM
22. 2026-07-11
    days on market $224,000 Active 68 DOM
23. 2026-07-10
    days on market $224,000 Active 67 DOM
24. 2026-07-09
    days on market $224,000 Active 66 DOM
25. 2026-07-08
    days on market $224,000 Active 65 DOM
26. 2026-07-07
    days on market $224,000 Active 64 DOM
27. 2026-07-06
    days on market $224,000 Active 63 DOM
28. 2026-07-05
    days on market $224,000 Active 62 DOM
29. 2026-07-04
    days on market $224,000 Active 61 DOM
30. 2026-07-03
    days on market $224,000 Active 60 DOM
31. 2026-07-03
    remarks 305-char remark
32. 2026-07-02
    days on market $224,000 Active 59 DOM
33. 2026-07-01
    days on market $224,000 Active 58 DOM
34. 2026-06-30
    days on market $224,000 Active 57 DOM
35. 2026-06-29
    days on market $224,000 Active 56 DOM
36. 2026-06-28
    days on market $224,000 Active 55 DOM
37. 2026-06-28
    days on market $224,000 Active 54 DOM
38. 2026-06-27
    days on market $224,000 Active 53 DOM
39. 2026-06-25
    days on market $224,000 Active 51 DOM
40. 2026-06-23
    days on market $224,000 Active 49 DOM
41. 2026-06-22
    days on market $224,000 Active 48 DOM
42. 2026-06-18
    days on market $224,000 Active 45 DOM
43. 2026-06-17
    days on market $224,000 Active 44 DOM
44. 2026-06-16
    pricedays on market $224,000 Active 43 DOM
45. 2026-06-15
    days on market $280,000 Active 42 DOM
46. 2026-06-14
    days on market $280,000 Active 40 DOM
47. 2026-06-13
    days on market $280,000 Active 39 DOM
48. 2026-06-10
    days on market $280,000 Active 37 DOM
49. 2026-06-09
    days on market $280,000 Active 36 DOM
50. 2026-06-08
    days on market $280,000 Active 35 DOM

ⓘ 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: $4,968 · $414/mo
• Projected year-2 tax: $4,968 · $414/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: $50,400
• − Mortgage interest: −$10,979
• − Property taxes: −$4,968
• − Insurance: −$980
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − Depreciation: −$5,702
• Taxable income: $19,708
• Est. tax owed @ 24.0%: −$4,730
• After-tax cash flow: $16,804/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 · 9 photos

Poor 20/100 Extensive rehab Est. rehab $120,800–$217,440 screening

This home requires extensive repairs and updates to its roof, exterior siding, flooring, interior walls, and HVAC system. The repairs and updates will significantly improve the home's appearance and increase its resale value.

Components & finishes AI

Roof asphalt shingle · good Flooring tile

Deferred maintenance Est. $12,000–$38,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Major Exterior (exterior) — Significant damage to siding and foundation

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible damage and potential leaks.
• Major exterior siding — The exterior siding is peeling and in poor condition, with visible damage and debris on the ground.
• Major flooring — The flooring in the kitchen and living areas appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls are in poor condition, with visible damage and peeling paint.
• Major HVAC system — The HVAC system appears to be in poor condition, with visible damage and potential issues.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its resale value. ↑
• Resale exterior siding repair and painting — A new exterior siding and paint job will improve the home's curb appeal and increase its resale value. ↑
• Resale flooring replacement — New flooring will improve the home's appearance and increase its resale value. ↑
• Resale interior wall repair and painting — New interior walls and paint job will improve the home's appearance and increase its resale value. ↑
• Resale HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, increasing its resale value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Chugiak Elementary C+ AK #25/156 Nat'l #8,534/41,679 Middle Mirror Lake Middle School D+ AK #10/36 Nat'l #4,433/14,009 High Chugiak High School F AK #17/61 Nat'l #7,572/17,239

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

B Composite livability gradescore 78/100

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 · 314,993 people
• City population: 218,117
• Metro: Anchorage, AK
• Population (ZIP): 6,739
• Household income: $128,250
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 20% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Native American 5% Pacific Islander 1%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Portuguese 4% Italian 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5% German/W. Germanic 1%

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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: ▼ -13.74%
• Current HPI: 279.3784
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-12 Relisted — AKMLS
• 2026-02-25 Pending — AKMLS
• 2026-02-17 Listed $280,000 AKMLS

Property tax history

+12.9%/yr

Latest (2025): $4,968 · +1.5% YoY. Source: county tax records.