12405 W Corn St · Houston, AK 99623

$140,000

2 bd · 1.0 ba · 320 sqft · Other public records · 17 Days on market

Built 2005

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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 +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1.27 Acres. Walking distance from Houston High and Jr High. Corner lot, across street from New 8 lot neighborhood. Great place to put down roots. $140,000 house and property. Running water, hotwater on demand, septic, electricity and wifi in house.

Key facts

• Running water
• Wifi in house
• Hotwater on demand

Tags

• CORNER LOT
• RUNNING WATER
• HOTWATER ON DEMAND
• SEPTIC
• ELECTRICITY
• WIFI IN HOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#123 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: health & safety C-, employment D, schools 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: Rents rising (+3.2%/yr); 414 active listings in the ZIP; solid renter incomes; 91 units permitted in Matanuska-Susitna Borough in 2024 (25 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Matanuska-Susitna County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Recommended offer $137,900 (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 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.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.17% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-12,975
• Equity at exit: $20,874

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,951
• Equity at exit: $12,105

Cash invested: $39,200 (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 99623

• Home prices YoY: -19.6%
• Rents YoY: 3.2%
• Active inventory: 414
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $148

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 84%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $140,000 Active 17 DOM
2. 2026-06-17
   days on market $140,000 Active 16 DOM
3. 2026-06-16
   days on market $140,000 Active 15 DOM
4. 2026-06-15
   days on market $140,000 Active 14 DOM
5. 2026-06-14
   days on market $140,000 Active 12 DOM
6. 2026-06-13
   days on market $140,000 Active 11 DOM
7. 2026-06-10
   days on market $140,000 Active 9 DOM
8. 2026-06-09
   days on market $140,000 Active 8 DOM
9. 2026-06-08
   days on market $140,000 Active 7 DOM
10. 2026-06-07
    days on market $140,000 Active 6 DOM
11. 2026-06-03
    days on market $140,000 Active 2 DOM
12. 2026-06-02
    remarks 248-char remark
13. 2026-06-02
    listed $140,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $16,950
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,073
• Taxable loss: −$477
• Est. tax savings @ 24.0%: +$115
• After-tax cash flow: $1,895/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.

Schools (NCES district)

• District: Matanuska-Susitna Borough School District
• NCES district ID: 0200510
• Math proficiency: 42% ▲ 1.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $70,325
• Composite: 41.38/100
• National rank: #3484
• State rank: #5 of 21 in AK

Livability — Houston

• Score: 56/100
• State rank: #123
• US rank: #22620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, AK
• County: Matanuska Susitna Borough · 100,174 people
• City population: 1,406
• Metro: Anchorage, AK
• Population (ZIP): 23,424
• Household income: $88,799
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 285.0

Population outlook (Matanuska-Susitna County) Hauer SSP2

• Today (2025): 126,730 people
• By 2030: 139,641 · +10.2%
• By 2040: 165,122 · +30.3%
• By 2050: 189,697 · +49.7%
• By 2075: 249,959 · +97.2%
• By 2100: 288,077 · +127.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 10% Native American 8% Hispanic / Latino 4% Asian 3% Black 2%
• Common ancestry: Portuguese 3% Romanian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Matanuska-Susitna

• 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: ▼ -48.82%
• Current HPI: 200.2242
• Rent YoY: ▲ 3.17%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-02 Listed $140,000 FSBO.com

Property tax history

-5.9%/yr

Latest (2025): $224 · -2.2% YoY. Source: county tax records.