19405 Ridge St

Cohoe, AK 99610

$129,000B

2 bd · 2.0 ba · 980 sqft · Built 1975 · Manufactured · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,754/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$368
• Net cashflow: $494/mo
• Annual: $5,931/yr
• Cap rate: 10.89%
• Cash-on-cash: 16.42%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $36,120

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $129k.
• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• It's been on market 42 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($892 loan paydown + $4k appreciation (3.2% local appreciation)).
• Location reads 60/100 on livability (#79 in AK) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, crime B; Watch: health & safety C-, amenities F, commute 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.
• Zoned schools: Mt. View Elementary (math 32% / reading 37%, grade F, #93 of 156 statewide, top 66%, 403 students, 51% FRL); Kenai Middle School (math 28% / reading 47%, grade F, #19 of 36 statewide, top 51%, 411 students, 38% FRL); Soldotna High School (math 27% / reading 37%, grade F, #33 of 61 statewide, top 57%, 707 students, 26% FRL).
• Market conditions: 66 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 7y 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.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.