2815 Campbell Airstrip Rd · Anchorage, AK 99504

$350,000

4 bd · 2.0 ba · 1,824 sqft · SingleFamily public records · 19 Days on market

Built 1971 0.27 ac lot $192/sqft · 21% below area Est $442k · 21% under

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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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Location, Location, Location! Large oversized corner lot. Great sweat equity opportunity in this popular Anchorage plan - a great addition to your rental fleet. This well-loved family home is being sold AS IS, WHERE IS as part of an estate. Price reduced for a quick sale. Features include two storage sheds, ample parking, and a covered porch. CASH OR RENOVATION LOAN ONLY! BRING ALL OFFERS! Buyer to verify all square footage, measurements, and amenities.

Key facts

• Oversized corner lot
• Covered porch
• Ample parking

Tags

• OVERSIZED CORNER LOT
• STORAGE SHEDS
• AMPLE PARKING
• COVERED PORCH

Property features AI

Exterior

• Parking: 1-car garage; No carport
• Utilities: Public sewer
• Home design: Residential property; Detached; Built in 1971
• Construction: Unknown construction materials; Other-type foundation
• Exterior features: Asphalt roof; Paved road access

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Total of 4 bedrooms; 2 full bathrooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (15.0% below list).
• Recommended offer: $298k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Baxter Elementary (math 32% / reading 27%, grade F, #112 of 156 statewide, top 74%, 269 students, 68% FRL); Wendler Middle School (math 19% / reading 36%, grade F, #29 of 36 statewide, top 80%, 422 students, 60% FRL) — zoned schools average 64% FRL vs 38% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 214 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• This rent runs 41% of the median local income ($87k/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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 19 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $297,615 (15.0% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (median comp): $441,762
• List price: $350,000
• Delta: -20.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2815 Campbell Airstrip Rd	0.00mi	4/2.0	1,824 (0%)	0mo	$350,000	$192	100
5875 Kennyhill Dr	0.13mi	4/2.0	1,824 (0%)	6mo	$443,000	$243	89
3003 Kerry Cir	0.12mi	4/2.0	1,888 (+4%)	1mo	$425,000	$225	88
5927 Camrose Dr	0.09mi	4/2.0	1,984 (+9%)	1mo	$485,000	$244	80
3006 Ambergate Dr	0.14mi	4/2.0	1,992 (+9%)	0mo	$485,000	$243	78
5810 College Dr	0.51mi	4/2.0	1,824 (0%)	2mo	$435,000	$238	75
3206 Campbell Airstrip Rd	0.22mi	5/2.0 (+1)	1,968 (+8%)	0mo	$485,000	$246	71
6030 Glenkerry Drive Dr	0.25mi	4/2.0	1,978 (+8%)	5mo	$448,000	$226	70
6056 Doncaster Dr	0.22mi	4/2.0	2,040 (+12%)	6mo	$415,000	$203	65
7031 Baxter Terrace Cir	0.73mi	3/2.0 (-1)	1,832 (+0%)	1mo	$475,000	$259	59
3664 Mirage Cir	0.58mi	3/3.0 (-1)	2,049 (+12%)	1mo	$465,500	$227	42
3305 Briarcliff Dr	0.73mi	4/2.0	2,032 (+11%)	6mo	$460,000	$226	42

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 · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-50,981
• Equity at exit: $52,186

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-40,755
• Equity at exit: $30,262

Cash invested: $98,000 (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 99504

• Rents YoY: 2.6%
• Active inventory: 214
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,976 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$203 /mo · $2,438/yr
• Insurance: −$146
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $111

Break-even live

Break-even rent $2,835

Max offer price $350,000

Occupancy floor 91%

Sensitivity live

Price	-10% $309	-5% $210	+0% $111	+5% $12	+10% $-87
Rent	-10% $-124	-5% $-6	+0% $111	+5% $229	+10% $346
Rate	-1.0pp $287	-0.5pp $200	base $111	+0.5pp $20	+1.0pp $-72

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5781 Sapphire Loop Anchorage, AK	3.0	2.0	1443	$2,500	$1.73	45d	1	0.35mi
6131 Prosperity Dr Anchorage, AK	3.0	1.5	1250	$2,800	$2.24	15d	1	0.36mi
2230 Candy Pl Anchorage, AK	4.0	3.0	1800	$2,795	$1.55	15d	1	0.58mi
2230 Candy Pl Unit C Anchorage, AK	4.0	3.0	1800	$2,995	$1.66	24d	1	0.58mi
3664 Mirage Cir Anchorage, AK	3.0	3.0	2049	$3,500	$1.71	24d	1	0.58mi
2432 Glacier St Unit A Anchorage, AK	3.0	2.0	1388	$2,850	$2.05	24d	1	0.59mi
5971 Ridgelake Cir Anchorage, AK	3.0	2.0	1452	$3,000	$2.07	15d	1	0.62mi
3844 Image Dr Anchorage, AK	4.0	2.0	1822	$4,000	$2.20	45d	1	0.65mi
6721 Foothill Dr Anchorage, AK	4.0	2.0	1824	$3,100	$1.70	15d	1	0.87mi
5703 Jennifer Cir Anchorage, AK	3.0	1.5	1400	$3,300	$2.36	15d	1	0.95mi
6413 E 14th Ct Unit A Anchorage, AK	4.0	2.0	1900	$2,475	$1.30	45d	1	0.96mi
3400 Meadowbrook Cir Anchorage, AK	3.0	2.0	1500	$2,350	$1.57	15d	1	1.23mi
3622 Sycamore Loop Anchorage, AK	3.0	2.0	1866	$2,895	$1.55	45d	1	1.43mi

Listing history 1 events

1. 2026-05-04
   listed $350,000 Active 440-char remark

ⓘ 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: $2,438 · $203/mo
• Projected year-2 tax: $3,301 · $275/mo
• Expected delta: +$864/yr (+$72/mo · 35.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $35,714
• − Mortgage interest: −$19,605
• − Property taxes: −$2,438
• − Insurance: −$2,416
• − Repairs & maintenance: −$2,857
• − Management: −$2,857
• − Depreciation: −$10,182
• Taxable loss: −$4,642
• Est. tax savings @ 24.0%: +$1,114
• After-tax cash flow: $2,448/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: 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): 42,093
• Household income: $86,710
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1052.0

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 0.80)
• Race & ethnicity: White 41% Two or more races 18% Asian 13% Native American 9% Black 9% Hispanic / Latino 9% Pacific Islander 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Portuguese 2% Ukrainian 2% Romanian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Other Asian/Pacific 9% Spanish 4% Tagalog/Filipino 3%

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: ▼ -184.29%
• Current HPI: 259.8803
• Rent YoY: ▲ 2.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

4 events — show timeline

• 2026-06-16 Sold (MLS) — AKMLS
• 2026-06-05 Sold (Public Records) — Public Records
• 2026-05-27 Pending — AKMLS
• 2026-05-04 Listed $350,000 AKMLS

Property tax history

+4.4%/yr

Latest (2025): $2,438 · +21.0% YoY. Source: county tax records.