1308 Sloan St

Badger, AK 99705

$160,000B-

None bd · 9.0 ba · 2,834 sqft · Built 1974 · MultiFamily · Active · 221 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,075/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$1,066
• Net cashflow: $2,904/mo
• Annual: $34,842/yr
• Cap rate: 28.07%
• Cash-on-cash: 77.77%
• DSCR: 4.46
• 1% rule: 3.17%
• Cash to close: $44,800

Investor read

• This is a 2×1bd/1ba + 1×2bd/1ba units multifamily listed at $160k. Condition is rated poor.
• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $968/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $160k).
• It's been on market 221 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 63/100 on livability (#49 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: cost of living C-, schools D, crime 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.
• Market conditions: Rents rising fast (+5.1%/yr); 524 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 28.1% vs local median 4.5% in Badger — 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 221 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?

Repairs flagged (vision-AI assessment)

• Major: roof — heavy snow accumulation
• Major: exterior siding — snow-covered roof, heavy snow accumulation
• Major: interior walls — paint peeling, exposed drywall
• Major: kitchen cabinets — dated cabinets
• Major: bathroom fixtures — dated fixtures
• Major: HVAC system — snow-covered roof, heavy snow accumulation