36358 Lambeau Ct · Sterling, AK 99672

$849,900

None bd · 5.0 ba · 5,480 sqft · MultiFamily · 368 Days on market

Built 1960 Fair condition 2.00 ac lot ↓ 5% since listing

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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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

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

Don't miss this rare opportunity to own a lakefront lodge with endless possibilities for recreation, rental income, & Alaskan adventure! St. Theresa's Lodge is situated on the shores of Hall Lake, just 7 miles north of Soldotna - home of the famous Kenai River. This property offers 193' of lake frontage with the water's edge just steps away. It's the kind of place where mornings start with loons calling and evenings end around a crackling fire. This property features a commercial kitchen, guests dining hall and seating area, 2 fully furnished rentals that sleep 4 each, 1 fully furnished rental that sleeps 6, a dry cabin, a fixer upper cabin, a covered picnic area, large yard, stocked maintenance shed/workshop, guest restrooms and shower facilities, laundry room, and storage/utility room, fish cleaning station, and a vacuum pack/freezer room. This property offers beauty and income potential in one stunning location!

Key facts

• Lakefront lodge
• Commercial kitchen
• Lake frontage

Tags

• LAKEFRONT LODGE
• LAKE FRONTAGE
• COMMERCIAL KITCHEN
• GUESTS DINING HALL
• FULLY FURNISHED RENTALS
• COVERED PICNIC AREA

What this means for you Summary

Snapshot

• This is a ?-bed/5.0-bath multifamily listed at $850k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $850k).
• Recommended offer: $748k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.4% in Sterling — 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 (#30 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 368 days — a 12% lower offer ($748k) is reasonable based on typical stale-listing flexibility.

Recommended offer $747,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 368 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.10% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 7.6

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-42,220
• Equity at exit: $126,723

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $86,598
• Equity at exit: $73,484

Cash invested: $237,972 (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 99672

• Home prices YoY: -16.0%
• Active inventory: 83
• Price-to-rent: 35.4×

Monthly cashflow live

• Estimated rent: $9,330 medium
• Mortgage (P&I): −$4,457
• Tax est. 1.5%: −$1,062 /mo · $12,748/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,959
• Net cashflow: $1,497

Break-even live

Break-even rent $7,435

Max offer price $849,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	1	$8,000
1× unit	6	1	$1,330
Total (5 units)			$9,330

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: $212,475
• Closing costs: $25,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $849,900 Active 368 DOM
2. 2026-06-18
   days on market $849,900 Active 367 DOM
3. 2026-06-17
   days on market $849,900 Active 366 DOM
4. 2026-06-16
   days on market $849,900 Active 365 DOM
5. 2026-06-15
   days on market $849,900 Active 364 DOM
6. 2026-06-14
   days on market $849,900 Active 362 DOM
7. 2026-06-12
   days on market $849,900 Active 361 DOM
8. 2026-06-09
   days on market $849,900 Active 358 DOM
9. 2026-06-08
   days on market $849,900 Active 357 DOM
10. 2026-06-07
    days on market $849,900 Active 356 DOM
11. 2026-06-07
    days on market $849,900 Active 355 DOM
12. 2026-06-04
    days on market $849,900 Active 352 DOM
13. 2026-06-02
    days on market $849,900 Active 351 DOM
14. 2026-06-01
    days on market $849,900 Active 350 DOM
15. 2026-05-31
    days on market $849,900 Active 349 DOM
16. 2026-05-31
    days on market $849,900 Active 348 DOM
17. 2025-07-19
    price $849,900 934-char remark

    Show marketing remark (934 chars)

    Don't miss this rare opportunity to own a lakefront lodge with endless possibilities for recreation, rental income, & Alaskan adventure! St. Theresa's Lodge is situated on the shores of Hall Lake, just 7 miles north of Soldotna - home of the famous Kenai River. This property offers 193' of lake frontage with the water's edge just steps away. It's the kind of place where mornings start with loons calling and evenings end around a crackling fire. This property features a commercial kitchen, guests dining hall and seating area, 2 fully furnished rentals that sleep 4 each, 1 fully furnished rental that sleeps 6, a dry cabin, a fixer upper cabin, a covered picnic area, large yard, stocked maintenance shed/workshop, guest restrooms and shower facilities, laundry room, and storage/utility room, fish cleaning station, and a vacuum pack/freezer room. This property offers beauty and income potential in one stunning location!

18. 2025-06-16
    listed $895,000 Active 934-char remark

    Show marketing remark (934 chars)

    Don't miss this rare opportunity to own a lakefront lodge with endless possibilities for recreation, rental income, & Alaskan adventure! St. Theresa's Lodge is situated on the shores of Hall Lake, just 7 miles north of Soldotna - home of the famous Kenai River. This property offers 193' of lake frontage with the water's edge just steps away. It's the kind of place where mornings start with loons calling and evenings end around a crackling fire. This property features a commercial kitchen, guests dining hall and seating area, 2 fully furnished rentals that sleep 4 each, 1 fully furnished rental that sleeps 6, a dry cabin, a fixer upper cabin, a covered picnic area, large yard, stocked maintenance shed/workshop, guest restrooms and shower facilities, laundry room, and storage/utility room, fish cleaning station, and a vacuum pack/freezer room. This property offers beauty and income potential in one stunning location!

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

Climate risk First Street

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

Taxation est. · year 1

• Rental income: $111,960
• − Mortgage interest: −$47,608
• − Property taxes: −$12,748
• − Insurance: −$4,250
• − Repairs & maintenance: −$8,957
• − Management: −$8,957
• − Depreciation: −$24,724
• Taxable income: $4,716
• Est. tax owed @ 24.0%: −$1,132
• After-tax cash flow: $16,835/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

Fair 45/100 Moderate rehab

This multi-family property offers a unique opportunity with a commercial kitchen and multiple rentals, but requires moderate repairs and updates to enhance its value.

Repairs flagged

• Moderate Kitchen cabinets — Worn and dated appearance
• Minor Bathroom fixtures — Some wear
• Minor Exterior siding — Some wear

Value-add opportunities

• Both Update kitchen cabinets and fixtures — Enhances functionality and aesthetics
• Both Paint interior walls — Improves appearance and value
• Both Replace shower curtains — Freshens bathrooms and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Some wear	Minor	$500–3,000
Exterior siding · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Update kitchen cabinets and fixtures — Enhances functionality and aesthetics ↑
• Both Paint interior walls — Improves appearance and value ↑
• Both Replace shower curtains — Freshens bathrooms and adds value ↑

ⓘ 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: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Sterling

• Score: 64/100
• State rank: #30
• US rank: #13938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling, AK
• City population: 4,153
• Population (ZIP): 4,153

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Native American 3% Two or more races 3%
• Common ancestry: Slovak 5% Portuguese 4% Italian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Kenai Peninsula

• 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: ▼ -36.95%
• Current HPI: 193.7875
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.0% since first listed

2 events — show timeline

• 2025-07-19 Price Changed $849,900 AKMLS
• 2025-06-16 Listed $895,000 AKMLS