48987 S Silver Salmon Dr

Susitna North, AK 99688

$85,000A-

2 bd · None ba · 576 sqft · Built 2004 · SingleFamily · Pending · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,320/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $455/mo
• Annual: $5,466/yr
• Cap rate: 12.72%
• Cash-on-cash: 22.97%
• DSCR: 2.02
• 1% rule: 1.55%
• Cash to close: $23,800

Investor read

• This is a 2-bed/?-bath single-family listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 66 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• In year one you build about $349 of equity ($588 loan paydown + $-239 appreciation (-0.3% local appreciation)).
• Location reads 56/100 on livability (#128 in AK) — a working-class tenant base; expect higher turnover. Strengths: crime B+, housing B+, cost of living B; Watch: health & safety C-, schools D-, amenities F.
• Matanuska-Susitna Borough School District (town): math 42% / reading 50% proficiency, ranked #5 of 21 in AK (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 215 active listings in the ZIP; 91 units permitted in Matanuska-Susitna Borough in 2024 (25 in 5+ unit buildings).
• Matanuska-Susitna County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 12.7% vs local median 1.7% in Susitna North — 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 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Paint — Significant chipping and unevenness in paint need addressing.
• Major: Bathroom Fixtures — No fixtures present, requiring full bathroom renovation.
• Moderate: Kitchen Cabinets — Worn appearance and dated design need updating or replacement.
• Moderate: Flooring — Worn appearance and dated design need updating or replacement.
• Minor: Exterior Siding — Some discoloration and wear, could be repainted or replaced if budget allows.