17/19 Driftwood Way · Unalaska, AK 99692

$1,100,000

16 bd · 8.0 ba · 8,512 sqft · MultiFamily · 773 Days on market

Built 1991 0.66 ac lot ↓ 31% since listing

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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).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.9/10.0
• DSCR +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Two great income producing 4 plex's on two separate lots in an ideal location on Dutch Harbor. See the additional remarks and marketing package attached. Land lease until 2041 with (2) 20-year options to extend. 100% occupancy with an amazing rental history. Extensive upgrades throughout! Also, see MLS#23-14071, and for savings on a package deal MLS#23-14076 HARBOR VIEW: these roomy apartments of around 1,064/SF are in two community-style 4 plex buildings overlooking Dutch Harbor and the active fishing and shipping activity. The kitchen has plenty of counter space that also provides a breakfast bar. A pantry and great cupboard space make this kitchen a cook's delight. From the breakfast bar you can see out the large picture window in the living room. All units have two bedrooms and one full bathroom with a private laundry area. Each apartment has been newly renovated and are clean and well maintained. Harbor View apartments sit a top Standard Oil Hill overlooking Rocky Point, Dutch Harbor and Mt. Ballyhoo. Located in a family friendly residential neighborhood near the local Tribal Hall within a short walking distance from Sitka Spruce Park. These apartments are a short driving distance from the grocery store or the hardware store. A few restaurants are close enough to walk to. Each apartment has convenient parking and a well maintained entry and parking areas. The buildings have a center-covered entry area to keep the cold and rain from following into your home. Four out of the eight apartments are set up as fully furnished apartments and they're ideal to rent out short-term or long-term for contractors or individuals visiting Dutch Harbor. The furnished apartments have flat-screen televisions, Queen size memory foam mattresses, couches, kitchen tables and chairs, Kitchenware, and everything you need for your stay.

Key facts

• 0.66 acre lot
• 11 parking spots
• Built 1991

Tags

• EXTENSIVE UPGRADES THROUGHOUT
• HARBOR VIEW APARTMENTS
• OVERLOOKING DUTCH HARBOR

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/2.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-518 ($-6k/yr) — negative. Per door: $-129/mo.
• To cash-flow at today's rent, offer at most $1.01M (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $769k (30.1% below list).
• Recommended offer: $769k (30.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#55 in AK) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Unalaska City School District (rural): math 49% / reading 54% proficiency, ranked #4 of 53 in AK (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle'S View Elementary School (math 52% / reading 52%, grade C-, #43 of 156 statewide, top 32%, 184 students, 20% FRL); Unalaska Jr/Sr High School (math 47% / reading 52%, grade D, #11 of 61 statewide, top 18%, 162 students, 18% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $41k of equity ($8k loan paydown + $33k appreciation (3.0% local appreciation)).
• Aleutians West County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 773 days — a 12% lower offer ($968k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $245k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $768,800 (30.1% 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 773 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
8. 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?
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 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: 0.70% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 11.9

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: 5.6%
• Equity multiple: 1.32×
• Total profit: $99,040
• Equity at exit: $494,608

10-year hold

• IRR: 8.6%
• Equity multiple: 2.29×
• Total profit: $398,251
• Equity at exit: $762,249

Cash invested: $308,000 (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 99692

• Active inventory: 2
• Price-to-rent: 47.7×

Monthly cashflow live

• Estimated rent: $7,688 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$364 /mo · $4,371/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,614
• Net cashflow: $-518

Break-even live

Break-even rent $8,343

Max offer price $1,008,565

Occupancy floor —

Sensitivity live

Price	-10% $105	-5% $-206	+0% $-518	+5% $-829	+10% $-1,140
Rent	-10% $-1,125	-5% $-821	+0% $-518	+5% $-214	+10% $90
Rate	-1.0pp $36	-0.5pp $-238	base $-518	+0.5pp $-803	+1.0pp $-1,093

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	2	$7,688
Total (4 units)			$7,688

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $1,100,000 Active 773 DOM
2. 2026-06-21
   days on market $1,100,000 Active 772 DOM
3. 2026-06-19
   days on market $1,100,000 Active 770 DOM
4. 2026-06-18
   days on market $1,100,000 Active 769 DOM
5. 2026-06-17
   days on market $1,100,000 Active 768 DOM
6. 2026-06-16
   days on market $1,100,000 Active 767 DOM
7. 2026-06-15
   days on market $1,100,000 Active 766 DOM
8. 2026-06-14
   days on market $1,100,000 Active 764 DOM
9. 2026-06-12
   days on market $1,100,000 Active 763 DOM
10. 2026-06-09
    days on market $1,100,000 Active 760 DOM
11. 2026-06-08
    days on market $1,100,000 Active 759 DOM
12. 2026-06-07
    days on market $1,100,000 Active 758 DOM
13. 2026-06-04
    days on market $1,100,000 Active 754 DOM
14. 2026-06-02
    days on market $1,100,000 Active 753 DOM
15. 2026-06-01
    days on market $1,100,000 Active 752 DOM
16. 2026-05-31
    days on market $1,100,000 Active 751 DOM
17. 2026-05-31
    days on market $1,100,000 Active 750 DOM
18. 2025-05-06
    price $1,100,000 1846-char remark

    Show marketing remark (1846 chars)

    Two great income producing 4 plex's on two separate lots in an ideal location on Dutch Harbor. See the additional remarks and marketing package attached. Land lease until 2041 with (2) 20-year options to extend. 100% occupancy with an amazing rental history. Extensive upgrades throughout! Also, see MLS#23-14071, and for savings on a package deal MLS#23-14076 HARBOR VIEW: these roomy apartments of around 1,064/SF are in two community-style 4 plex buildings overlooking Dutch Harbor and the active fishing and shipping activity. The kitchen has plenty of counter space that also provides a breakfast bar. A pantry and great cupboard space make this kitchen a cook's delight. From the breakfast bar you can see out the large picture window in the living room. All units have two bedrooms and one full bathroom with a private laundry area. Each apartment has been newly renovated and are clean and well maintained. Harbor View apartments sit a top Standard Oil Hill overlooking Rocky Point, Dutch Harbor and Mt. Ballyhoo. Located in a family friendly residential neighborhood near the local Tribal Hall within a short walking distance from Sitka Spruce Park. These apartments are a short driving distance from the grocery store or the hardware store. A few restaurants are close enough to walk to. Each apartment has convenient parking and a well maintained entry and parking areas. The buildings have a center-covered entry area to keep the cold and rain from following into your home. Four out of the eight apartments are set up as fully furnished apartments and they're ideal to rent out short-term or long-term for contractors or individuals visiting Dutch Harbor. The furnished apartments have flat-screen televisions, Queen size memory foam mattresses, couches, kitchen tables and chairs, Kitchenware, and everything you need for your stay.

19. 2024-08-27
    price $1,320,000 1846-char remark

    Show marketing remark (1846 chars)

    Two great income producing 4 plex's on two separate lots in an ideal location on Dutch Harbor. See the additional remarks and marketing package attached. Land lease until 2041 with (2) 20-year options to extend. 100% occupancy with an amazing rental history. Extensive upgrades throughout! Also, see MLS#23-14071, and for savings on a package deal MLS#23-14076 HARBOR VIEW: these roomy apartments of around 1,064/SF are in two community-style 4 plex buildings overlooking Dutch Harbor and the active fishing and shipping activity. The kitchen has plenty of counter space that also provides a breakfast bar. A pantry and great cupboard space make this kitchen a cook's delight. From the breakfast bar you can see out the large picture window in the living room. All units have two bedrooms and one full bathroom with a private laundry area. Each apartment has been newly renovated and are clean and well maintained. Harbor View apartments sit a top Standard Oil Hill overlooking Rocky Point, Dutch Harbor and Mt. Ballyhoo. Located in a family friendly residential neighborhood near the local Tribal Hall within a short walking distance from Sitka Spruce Park. These apartments are a short driving distance from the grocery store or the hardware store. A few restaurants are close enough to walk to. Each apartment has convenient parking and a well maintained entry and parking areas. The buildings have a center-covered entry area to keep the cold and rain from following into your home. Four out of the eight apartments are set up as fully furnished apartments and they're ideal to rent out short-term or long-term for contractors or individuals visiting Dutch Harbor. The furnished apartments have flat-screen televisions, Queen size memory foam mattresses, couches, kitchen tables and chairs, Kitchenware, and everything you need for your stay.

20. 2023-12-06
    listed $1,345,000 Active 1846-char remark

    Show marketing remark (1846 chars)

    Two great income producing 4 plex's on two separate lots in an ideal location on Dutch Harbor. See the additional remarks and marketing package attached. Land lease until 2041 with (2) 20-year options to extend. 100% occupancy with an amazing rental history. Extensive upgrades throughout! Also, see MLS#23-14071, and for savings on a package deal MLS#23-14076 HARBOR VIEW: these roomy apartments of around 1,064/SF are in two community-style 4 plex buildings overlooking Dutch Harbor and the active fishing and shipping activity. The kitchen has plenty of counter space that also provides a breakfast bar. A pantry and great cupboard space make this kitchen a cook's delight. From the breakfast bar you can see out the large picture window in the living room. All units have two bedrooms and one full bathroom with a private laundry area. Each apartment has been newly renovated and are clean and well maintained. Harbor View apartments sit a top Standard Oil Hill overlooking Rocky Point, Dutch Harbor and Mt. Ballyhoo. Located in a family friendly residential neighborhood near the local Tribal Hall within a short walking distance from Sitka Spruce Park. These apartments are a short driving distance from the grocery store or the hardware store. A few restaurants are close enough to walk to. Each apartment has convenient parking and a well maintained entry and parking areas. The buildings have a center-covered entry area to keep the cold and rain from following into your home. Four out of the eight apartments are set up as fully furnished apartments and they're ideal to rent out short-term or long-term for contractors or individuals visiting Dutch Harbor. The furnished apartments have flat-screen televisions, Queen size memory foam mattresses, couches, kitchen tables and chairs, Kitchenware, and everything you need for your stay.

21. 2022-07-13
    listed $1,345,000
22. 1996-09-04
    listed $1,600,000

ⓘ 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: $4,371 · $364/mo
• Projected year-2 tax: $8,731 · $728/mo
• Expected delta: +$4,359/yr (+$363/mo · 99.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $92,256
• − Mortgage interest: −$61,617
• − Property taxes: −$4,371
• − Insurance: −$5,500
• − Repairs & maintenance: −$7,380
• − Management: −$7,380
• − Depreciation: −$32,000
• Taxable loss: −$25,993
• Est. tax savings @ 24.0%: +$6,238
• After-tax cash flow: $27/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: Unalaska City School District
• NCES district ID: 0200720
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $85,365
• Composite: 49.35/100
• National rank: #4335
• State rank: #4 of 53 in AK

Livability — Unalaska

• Score: 62/100
• State rank: #55
• US rank: #16256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Unalaska, AK
• City population: 4,430
• Population (ZIP): 740

Population outlook (Aleutians West County) Hauer SSP2

• Today (2025): 7,202 people
• By 2030: 8,060 · +11.9%
• By 2040: 9,789 · +35.9%
• By 2050: 11,484 · +59.5%
• By 2075: 15,605 · +116.7%
• By 2100: 18,578 · +158.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Asian 62% White 20% Hispanic / Latino 15% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Subsaharan African 3% German 2% Italian 2%
• Foreign-born: 61% · Canada, South Korea, Vietnam
• Languages at home: 16% English-only · Tagalog/Filipino 52% Spanish 13% Russian/Polish/Slavic 7%

Political lean MEDSL · Aleutians West

• 2024 margin: D (+15.3) · D 57.6% · R 42.4%
• 2016→2024 swing: +30.4pp toward D · 2016: -15.2pp · 2024: 15.3pp
• All cycles: 2024: D+15.3 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-31.2% since first listed

5 events — show timeline

• 2025-05-06 Price Changed $1,100,000 AKMLS
• 2024-08-27 Price Changed $1,320,000 AKMLS
• 2023-12-06 Listed $1,345,000 AKMLS
• 2022-07-13 Listed $1,345,000 AKMLS
• 1996-09-04 Listed $1,600,000 AKMLS

Property tax history

-3.8%/yr

Latest (2025): $4,371 · +20.3% YoY. Source: county tax records.