3004 Fales Rd · Deltana, AK 99737

$989,000

2 bd · 8.0 ba · 10,836 sqft · MultiFamily · 23 Days on market

Built 1984 Good condition 3.87 ac lot

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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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Appreciation +5.3/10.0
• Schools +4.6/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Well maintained 10,836 square foot 8-plex. Seven 2-bedroom units and one 1-bedroom unit. Coin-op laundry, garages, dish network and DSL available. Landlord pays heat and sanitation. This building shows pride of ownership throughout. Newer roof, gutters, and double pane vinyl windows, Lobby and public hallways are wide and well cared for. Back of building has large 600 square foot deck and cement basketball court.

Key facts

• One car garage
• Newer roof
• Coin-op laundry

Tags

• COIN-OP LAUNDRY
• ONE CAR GARAGE
• NEWER ROOF
• NEWER VEISMANN BOILERS

Property features AI

Exterior

• Parking: Detached garage; Total of 8 parking spaces; 1 garage space
• Security: Smoke detectors
• Utilities: Private well water
• Home design: Residential income property; Eight-plex
• Exterior features: Metal roof; Gravel driveway/road access

Interior

• Kitchen: Dishwasher; Range/Oven; Microwave; Refrigerator
• Heating & cooling: Oil heating; Baseboard heat
• Interior features: Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/8.0-bath multifamily listed at $989k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $989k).
• Recommended offer: $974k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.4% in Deltana — 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 64/100 on livability (#35 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A, crime B; Watch: amenities F, commute F, health & safety F.
• Delta-Greely School District (rural): math 50% / reading 53% proficiency, ranked #2 of 21 in AK (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Delta Junction Elementary (math 67% / reading 57%, grade B, #19 of 156 statewide, top 12%, 359 students, 35% FRL); Delta Junction Junior High School (math 37% / reading 47%, grade D-, #13 of 36 statewide, top 37%, 166 students, 31% FRL); Delta Junction Senior High School (math 64% / reading 64%, grade B-, #3 of 61 statewide, top 5%, 165 students, 23% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 76 active listings in the ZIP.

Forward outlook

• In year one you build about $13k of equity ($7k loan paydown + $6k appreciation (0.6% local appreciation)).
• Southeast Fairbanks County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $277k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($974k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $974,165 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.34×
• Total profit: $94,241
• Equity at exit: $316,424

10-year hold

• IRR: 11.4%
• Equity multiple: 2.33×
• Total profit: $367,313
• Equity at exit: $404,560

Cash invested: $276,920 (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 99737

• Home prices YoY: 0.4%
• Active inventory: 76
• Price-to-rent: 62.5×

Monthly cashflow live

• Estimated rent: $10,550 medium
• Mortgage (P&I): −$5,186
• Tax est. 1.5%: −$1,236 /mo · $14,835/yr
• Insurance: −$412
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,216
• Net cashflow: $1,500

Break-even live

Break-even rent $8,652

Max offer price $989,000

Occupancy floor 81%

Sensitivity live

Price	-10% $2,183	-5% $1,841	+0% $1,500	+5% $1,158	+10% $816
Rent	-10% $666	-5% $1,083	+0% $1,500	+5% $1,916	+10% $2,333
Rate	-1.0pp $1,998	-0.5pp $1,751	base $1,500	+0.5pp $1,243	+1.0pp $983

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$10,552
Total (8 units)			$10,550

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: $247,250
• Closing costs: $29,670
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $989,000 Active 23 DOM
2. 2026-06-21
   days on market $989,000 Active 22 DOM
3. 2026-06-19
   days on market $989,000 Active 20 DOM
4. 2026-06-18
   days on market $989,000 Active 19 DOM
5. 2026-06-17
   days on market $989,000 Active 18 DOM
6. 2026-06-16
   days on market $989,000 Active 17 DOM
7. 2026-06-15
   days on market $989,000 Active 16 DOM
8. 2026-06-14
   days on market $989,000 Active 14 DOM
9. 2026-06-12
   days on market $989,000 Active 13 DOM
10. 2026-06-09
    days on market $989,000 Active 10 DOM
11. 2026-06-08
    days on market $989,000 Active 9 DOM
12. 2026-06-07
    days on market $989,000 Active 8 DOM
13. 2026-06-07
    days on market $989,000 Active 7 DOM
14. 2026-06-04
    days on market $989,000 Active 4 DOM
15. 2026-06-02
    days on market $989,000 Active 3 DOM
16. 2026-06-01
    days on market $989,000 Active 2 DOM
17. 2026-05-31
    remarks 439-char remark
18. 2026-05-31
    listed $989,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $126,600
• − Mortgage interest: −$55,399
• − Property taxes: −$14,835
• − Insurance: −$4,945
• − Repairs & maintenance: −$10,128
• − Management: −$10,128
• − Depreciation: −$28,771
• Taxable income: $2,394
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $17,422/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

A well-maintained 8-unit multi-family property with good structural integrity and minimal repairs needed. Upgrades to interior walls, kitchen, and landscaping would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic update needed.
• Minor Bathroom fixtures — Update needed for a fresh look.
• Minor Landscaping — Improves curb appeal and adds value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics.
• Both Replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic update needed.	Minor	$500–3,000
Bathroom fixtures · Update needed for a fresh look.	Minor	$500–3,000
Landscaping · Improves curb appeal and adds value.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics. ↑
• Both Replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Delta-Greely School District
• NCES district ID: 0200100
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 53% ▲ 2.00%
• Median HH income: $73,312
• Composite: 46.25/100
• National rank: #2483
• State rank: #2 of 21 in AK

Livability — Deltana

• Score: 64/100
• State rank: #35
• US rank: #14321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deltana, AK
• Population (ZIP): 4,659

Population outlook (Southeast Fairbanks County) Hauer SSP2

• Today (2025): 6,279 people
• By 2030: 6,022 · -4.1%
• By 2040: 5,658 · -9.9%
• By 2050: 5,521 · -12.1%
• By 2075: 5,938 · -5.4%
• By 2100: 6,752 · +7.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 7% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Scotch-Irish 7% Subsaharan African 6% Romanian 4%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Russian/Polish/Slavic 12% Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Southeast Fairbanks

• 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: ▲ 0.58%
• Current HPI: 134.8903
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+106.0% since first listed

4 events — show timeline

• 2026-05-31 Listed $989,000 GFBR
• 2016-02-12 Sold (MLS) — GFBR
• 2015-03-12 Listed $470,000 GFBR
• 2015-03-12 Listed $480,000 AKMLS