4200 E 4th Ave #164 · Anchorage, AK 99508

$68,000

3 bd · 1.0 ba · 1,000 sqft · Manufactured · 13 Days on market

Built 1968 Fair condition Est $77k · 12% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable in the heart of Alaska. Only $525 rent space that includes water & sewer, refuse. A few books from major shopping center, close to schools and restaurants. Cash only.

Key facts

• 2 parking spots
• Built 1968
• Listed 13 days

Property features AI

Exterior

• Parking: 2 parking spaces (total); No garage; No carport
• Utilities: Public sewer
• Home design: Mobile home; Built in 1968
• Construction: Other foundation
• Exterior features: Located in city limits; Shingle roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Carbon monoxide detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $68k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Cap rate 21.5% vs local median 3.8% in Anchorage — 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 78/100 on livability (#6 in AK, #2,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Anchorage School District (urban): math 37% / reading 43% proficiency, ranked #6 of 21 in AK (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wonder Park Elementary (math 12% / reading 12%, grade F, #149 of 156 statewide, top 96%, 264 students, 100% FRL); Clark Middle School (math 7% / reading 22%, grade F, #35 of 36 statewide, top 97%, 835 students, 100% FRL) — zoned schools average 100% FRL vs 38% district-wide (62 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 40% district-wide (-27 pts) — the specific schools serving this property underperform the Anchorage School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.9%/yr); 147 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $68,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.48% ✓
• Cap rate: 21.47%
• Cash-on-cash: 54.19%
• DSCR: 3.41
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $77,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3240 Penland Pkwy #126	0.64mi	3/2.0	1,036 (+4%)	6mo	$80,000	$77	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 54.5%
• Equity multiple: 3.47×
• Total profit: $47,008
• Equity at exit: $10,139

10-year hold

• IRR: 60.3%
• Equity multiple: 7.58×
• Total profit: $125,378
• Equity at exit: $5,879

Cash invested: $19,040 (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 99508

• Rents YoY: 4.9%
• Active inventory: 147
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,683 high
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $860

Break-even live

Break-even rent $595

Max offer price $68,000

Occupancy floor 44%

Sensitivity live

Price	-10% $907	-5% $883	+0% $860	+5% $836	+10% $813
Rent	-10% $727	-5% $793	+0% $860	+5% $926	+10% $993
Rate	-1.0pp $894	-0.5pp $877	base $860	+0.5pp $842	+1.0pp $824

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 S Flower St Unit 01 Anchorage, AK	2.0	1.0	700	$1,300	$1.86	45d	1	0.18mi
3926 E 3rd Ave #6 Anchorage, AK	3.0	1.5	1200	$2,000	$1.67	45d	1	0.20mi
4413 E 8th Ave Unit B Anchorage, AK	2.0	1.0	960	$1,400	$1.46	45d	1	0.25mi
3925 E 9th Ave Unit 5 Anchorage, AK	3.0	1.5	1200	$1,750	$1.46	45d	1	0.29mi
218 McCarrey St Anchorage, AK	3.0	1.0	640	$1,685	$2.63	22d	9	0.45mi
225 N Park St Apt 4 Anchorage, AK	2.0	1.0	805	$1,250	$1.55	45d	1	0.52mi
225 N Park St Apt 3 Anchorage, AK	2.0	1.0	800	$1,250	$1.56	22d	1	0.52mi
225 N Park St Unit 11 Anchorage, AK	2.0	1.0	710	$1,200	$1.69	45d	1	0.52mi
325 N Hoyt St Unit C Anchorage, AK	2.0	1.0	800	$1,300	$1.62	45d	1	0.60mi
415 N Bragaw St Anchorage, AK	1.0–2.0	1.0	700	$1,500	$2.14	15d	3	0.65mi
423 N Lane St Apt 1 Anchorage, AK	3.0	1.0	980	$2,000	$2.04	24d	1	0.68mi
423 N Lane St #4 Anchorage, AK	3.0	1.0	980	$2,050	$2.09	24d	1	0.68mi
5310 Lionheart Dr Unit 15 Anchorage, AK	2.0	1.0	820	$1,695	$2.07	15d	1	0.71mi
524 N Klevin St Unit B Anchorage, AK	2.0	1.0	1080	$1,700	$1.57	45d	1	0.72mi
5326 Lionheart Dr Unit 12 Anchorage, AK	2.0	1.0	820	$1,650	$2.01	24d	1	0.72mi
5201 Chena Ave #1 Anchorage, AK	3.0	1.0	1100	$1,350	$1.23	45d	1	0.74mi
541 Irwin St Unit 4 Anchorage, AK	2.0	1.0	800	$1,350	$1.69	15d	1	0.77mi
617 N Flower St Anchorage, AK	2.0	1.0	920	$1,750	$1.90	45d	1	0.77mi
814 N Bunn St Unit 4 Anchorage, AK	2.0	1.0	1100	$1,400	$1.27	15d	1	0.89mi
821 N Hoyt St Unit 06 Anchorage, AK	2.0	1.0	825	$1,250	$1.52	15d	1	0.90mi
816 N Bragaw St Unit 1 Anchorage, AK	2.0	1.0	950	$1,650	$1.74	45d	1	0.91mi
5741 Rocky Mountain Ct Unit D Anchorage, AK	2.0	1.0	900	$1,475	$1.64	24d	1	1.00mi
4670 Reka Dr Unit G11 Anchorage, AK	2.0	1.5	926	$1,800	$1.94	45d	1	1.08mi
5901 E 6th Ave Anchorage, AK	2.0–3.0	1.0–2.0	907	$2,430	$2.68	15d	7	1.20mi
2432 Glacier St Unit A Anchorage, AK	3.0	2.0	1388	$2,850	$2.05	24d	1	1.47mi

Listing history 11 events

1. 2026-06-18
   days on market $68,000 Active 13 DOM
2. 2026-06-17
   days on market $68,000 Active 12 DOM
3. 2026-06-16
   days on market $68,000 Active 11 DOM
4. 2026-06-15
   days on market $68,000 Active 10 DOM
5. 2026-06-14
   days on market $68,000 Active 8 DOM
6. 2026-06-13
   days on market $68,000 Active 7 DOM
7. 2026-06-10
   days on market $68,000 Active 5 DOM
8. 2026-06-09
   days on market $68,000 Active 4 DOM
9. 2026-06-08
   days on market $68,000 Active 3 DOM
10. 2026-06-07
    remarks 179-char remark
11. 2026-06-07
    listed $68,000 Active 2 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: $20,198
• − Mortgage interest: −$3,809
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$1,978
• Taxable income: $9,819
• Est. tax owed @ 24.0%: −$2,357
• After-tax cash flow: $7,961/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 · 10 photos

Fair 45/100 Cosmetic rehab

The property is in fair condition with cosmetic repairs needed, particularly in the kitchen and exterior. Painting and updating the flooring would significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathtub and fixtures — Dated appearance
• Moderate Exterior siding — Weathered and faded
• Moderate Hardwood flooring — Worn appearance
• Moderate Paint — Chipped in some areas

Value-add opportunities

• Both Painting the exterior and interior — Enhances curb appeal and interior aesthetics
• Both Floor refinishing — Improves functionality and appearance
• Both New flooring — Enhances functionality and appearance
• Both New paint — Enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathtub and fixtures · Dated appearance	Minor	$500–3,000
Exterior siding · Weathered and faded	Moderate	$3,000–15,000
Hardwood flooring · Worn appearance	Moderate	$3,000–15,000
Paint · Chipped in some areas	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$10,000–51,000

Value-add ROI direction

• Both Painting the exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Floor refinishing — Improves functionality and appearance ↑
• Both New flooring — Enhances functionality and appearance ↑
• Both New paint — Enhances curb appeal and interior aesthetics ↑

ⓘ 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: Anchorage School District
• NCES district ID: 0200180
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $76,447
• Composite: 37.0/100
• National rank: #4523
• State rank: #6 of 21 in AK

Livability — Anchorage

• Score: 78/100
• State rank: #6
• US rank: #2553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anchorage, AK
• County: Anchorage Borough · 246,594 people
• City population: 218,117
• Metro: Anchorage, AK
• Population (ZIP): 36,458
• Household income: $79,314
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1248.0

Population outlook (Anchorage County) Hauer SSP2

• Today (2025): 314,993 people
• By 2030: 321,771 · +2.2%
• By 2040: 335,493 · +6.5%
• By 2050: 352,799 · +12.0%
• By 2075: 414,771 · +31.7%
• By 2100: 474,485 · +50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 38% Two or more races 14% Asian 13% Hispanic / Latino 13% Native American 10% Pacific Islander 8% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Portuguese 3% Iranian 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica, South Korea
• Languages at home: 72% English-only · Other Asian/Pacific 11% Spanish 8% Tagalog/Filipino 4%

Political lean MEDSL · Anchorage

• 2024 margin: D (+12.7) · D 56.3% · R 43.7%
• 2016→2024 swing: +27.9pp toward D · 2016: -15.2pp · 2024: 12.7pp
• All cycles: 2024: D+12.7 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.51%
• Current HPI: 257.8807
• Rent YoY: ▲ 4.88%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-04 Listed $68,000 AKMLS