2440 Tanana Dr · North Pole, AK 99705

$369,000

6 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 74 Days on market

Built 1982 0.30 ac lot $183/sqft · 38% below area Est $598k · 38% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.8/10.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Duplex in North Pole offering excellent income potential! Each unit features 3 bedrooms, 1 bathroom, and its own attached 2-car garage—an uncommon and highly desirable amenity that can be allocated to one unit or shared between both. Current rents range from $2,000–$2,200 per unit plus electric, making this a strong performing property. The lower unit has been recently renovated with a new kitchen and updated flooring, providing modern appeal and added value. Whether you’re looking to owner-occupy or expand your investment portfolio, this property offers flexibility, functionality, and solid rental history.

Key facts

• New kitchen
• Attached garage
• Solid rental history

Tags

• ATTACHED GARAGE
• RECENTLY RENOVATED
• NEW KITCHEN
• UPDATED FLOORING
• SOLID RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $369k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive. Per door: $490/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• Recommended offer: $347k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.7% in North Pole — 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 67/100 on livability (#22 in AK) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, health & safety A-; Watch: schools 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.
• Market conditions: Rents rising fast (+5.1%/yr); 248 active listings in the ZIP; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).
• At $4,354/mo this rent would consume 54% of the median local household income ($97k/yr) (locally 237% 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 $3k of loan paydown is wiped out by about $11k 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $103k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.

Recommended offer $346,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 7.1

CMA / ARV

• ARV (median comp): $598,489
• List price: $369,000
• Delta: -38.34%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.08% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.12×
• Total profit: $11,925
• Equity at exit: $55,019

10-year hold

• IRR: 14.4%
• Equity multiple: 2.26×
• Total profit: $130,612
• Equity at exit: $31,904

Cash invested: $103,320 (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 99705

• Home prices YoY: -21.2%
• Rents YoY: 5.1%
• Active inventory: 248
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $4,354 high
• Mortgage (P&I): −$1,935
• Tax from tax record: −$371 /mo · $4,452/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$914
• Net cashflow: $980

Break-even live

Break-even rent $3,114

Max offer price $369,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,354
Total (2 units)			$4,354

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $369,000 Active 74 DOM
2. 2026-06-18
   days on market $369,000 Active 73 DOM
3. 2026-06-17
   days on market $369,000 Active 72 DOM
4. 2026-06-16
   days on market $369,000 Active 71 DOM
5. 2026-06-15
   days on market $369,000 Active 70 DOM
6. 2026-06-14
   days on market $369,000 Active 68 DOM
7. 2026-06-13
   days on market $369,000 Active 67 DOM
8. 2026-06-10
   days on market $369,000 Active 65 DOM
9. 2026-06-09
   days on market $369,000 Active 64 DOM
10. 2026-06-08
    days on market $369,000 Active 63 DOM
11. 2026-06-05
    days on market $369,000 Active 59 DOM
12. 2026-06-03
    days on market $369,000 Active 58 DOM
13. 2026-06-02
    days on market $369,000 Active 57 DOM
14. 2026-06-01
    days on market $369,000 Active 56 DOM
15. 2026-05-31
    days on market $369,000 Active 55 DOM
16. 2026-05-30
    days on market $369,000 Active 54 DOM
17. 2026-05-11
    price $369,000 632-char remark

    Show marketing remark (632 chars)

    Duplex in North Pole offering excellent income potential! Each unit features 3 bedrooms, 1 bathroom, and its own attached 2-car garage—an uncommon and highly desirable amenity that can be allocated to one unit or shared between both. Current rents range from $2,000–$2,200 per unit plus electric, making this a strong performing property. The lower unit has been recently renovated with a new kitchen and updated flooring, providing modern appeal and added value. Whether you’re looking to owner-occupy or expand your investment portfolio, this property offers flexibility, functionality, and solid rental history.

18. 2026-04-06
    listed $369,900 Active 632-char remark

    Show marketing remark (632 chars)

    Duplex in North Pole offering excellent income potential! Each unit features 3 bedrooms, 1 bathroom, and its own attached 2-car garage—an uncommon and highly desirable amenity that can be allocated to one unit or shared between both. Current rents range from $2,000–$2,200 per unit plus electric, making this a strong performing property. The lower unit has been recently renovated with a new kitchen and updated flooring, providing modern appeal and added value. Whether you’re looking to owner-occupy or expand your investment portfolio, this property offers flexibility, functionality, and solid rental history.

19. 2010-06-14
    soldstatus
20. 2007-06-06
    soldstatus

ⓘ 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: $4,452 · $371/mo
• Projected year-2 tax: $4,452 · $371/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 · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $52,248
• − Mortgage interest: −$20,670
• − Property taxes: −$4,452
• − Insurance: −$1,845
• − Repairs & maintenance: −$4,180
• − Management: −$4,180
• − Depreciation: −$10,735
• Taxable income: $6,187
• Est. tax owed @ 24.0%: −$1,485
• After-tax cash flow: $10,273/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 — North Pole

• Score: 67/100
• State rank: #22
• US rank: #10245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Pole, AK
• County: Fairbanks North Star Borough · 69,381 people
• City population: 21,769
• Metro: Fairbanks, AK
• Population (ZIP): 21,769
• Household income: $96,964
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 237.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 12% Hispanic / Latino 7% Native American 4% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Italian 4% Portuguese 3% Scottish 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 93% English-only · French/Haitian/Cajun 1% Spanish 1% Tagalog/Filipino 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: ▼ -42.32%
• Current HPI: 157.102
• Rent YoY: ▲ 5.08%
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

-0.2% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $369,000 GFBR
• 2026-04-06 Listed $369,900 GFBR
• 2010-06-14 Sold (Public Records) — Public Records
• 2007-06-06 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,452 · +2.7% YoY. Source: county tax records.