2350 Old Lawson Creek Rd

Juneau, AK 99824

$625,000D+

8 bd · 4.0 ba · 3,016 sqft · Built 1963 · MultiFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,119/mo
• Mortgage (P&I): −$3,278
• Tax + insurance: −$1,227
• HOA: −$0
• Vac / Maint / Mgmt: −$1,075
• Net cashflow: $-460/mo
• Annual: $-5,522/yr
• Cap rate: 6.29%
• Cash-on-cash: 0.00%
• DSCR: 1.00
• 1% rule: 0.82%
• Cash to close: $175,000

Investor read

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $625k.
• At list price, monthly cash flow is $-460 ($-6k/yr) — negative. Per door: $-153/mo.
• To cash-flow at today's rent, offer at most $544k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $512k (18.1% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $512k (18.1% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($4k loan paydown + $16k appreciation (2.6% local appreciation)).
• Location reads 84/100 on livability (#3 in AK, #703 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime F, cost of living F.
• Juneau Borough School District (town): math 32% / reading 44% proficiency, ranked #9 of 21 in AK (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Saytik: Gastineau Community School (math 22% / reading 42%, grade F, #104 of 156 statewide, top 70%, 280 students, 34% FRL); Juneau-Douglas High School: Yadaa.At Kalt (math 42% / reading 47%, grade F, #14 of 61 statewide, top 25%, 567 students, 20% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: 18 active listings in the ZIP; 114 units permitted in Juneau City and Borough in 2024 (82 in 5+ unit buildings).
• Juneau County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 5y 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.
• By year 3, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 2.6% in Juneau — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?