4401 Peterkin Ave · Anchorage, AK 99508

$149,000

4 bd · 3.0 ba · 2,004 sqft · MultiFamily public records · 1 Days on market

Built 1958 6,250 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• 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

Don't miss this incredible investment opportunity! Priced to sell, this tri-plex offers the perfect chance to build sweat equity and generate strong rental income. While the property needs work, the upside and cash-flow potential make it a standout value. Features two 1-bedroom units and one 2-bedroom unit, each with 1 bathroom. Located adjacent to a dedicated greenbelt, there's added appeal with open space for recreation and outdoor enjoyment. The fully fenced lot provides privacy and functionality.

Key facts

• 6,250 sq ft lot
• 3 parking spots
• Built 1958

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $149k).
• Cap rate 23.1% 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: Mountain View Elementary (math 8% / reading 12%, grade F, #153 of 156 statewide, top 100%, 290 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 12% at this address vs 40% district-wide (-28 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $3,921/mo this rent would consume 59% of the median local household income ($79k/yr) (locally 1248% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 30y 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.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.63% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.96%
• DSCR: 3.67
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $432,864
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 N Klevin St	0.27mi	5/3.0 (+1)	2,116 (+6%)	5mo	$350,000	$165	69
712 N Bragaw St	0.43mi	5/2.0 (+1)	2,080 (+4%)	9mo	$385,000	$185	57
4312 E 6th Ave	0.65mi	4/2.0	2,048 (+2%)	10mo	$274,900	$134	53
302 Lionheart Ct	0.64mi	4/4.0	2,008 (+0%)	21mo	$459,900	$229	48
4103 E 3rd Ave	0.42mi	3/2.0 (-1)	1,820 (-9%)	10mo	$320,000	$176	48
5408 Camelot Dr	0.74mi	5/2.0 (+1)	1,924 (-4%)	15mo	$415,000	$216	38
4536 E 6th Ave	0.66mi	4/2.0	1,872 (-7%)	20mo	$419,900	$224	38
5024 Klondike Ave	0.62mi	5/2.0 (+1)	1,800 (-10%)	11mo	$392,500	$218	36
4770 Klondike Ave	0.54mi	4/2.0	1,728 (-14%)	16mo	$399,000	$231	34
4301 E 7th Ave	0.69mi	5/2.0 (+1)	1,840 (-8%)	24mo	$395,000	$215	25

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: 60.8%
• Equity multiple: 3.79×
• Total profit: $116,224
• Equity at exit: $22,216

10-year hold

• IRR: 66.1%
• Equity multiple: 8.30×
• Total profit: $304,580
• Equity at exit: $12,883

Cash invested: $41,720 (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: 9.8×

Monthly cashflow live

• Estimated rent: $3,921 high
• Mortgage (P&I): −$781
• Tax from tax record: −$170 /mo · $2,035/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$823
• Net cashflow: $2,085

Break-even live

Break-even rent $1,282

Max offer price $149,000

Occupancy floor 42%

Sensitivity live

Price	-10% $2,169	-5% $2,127	+0% $2,085	+5% $2,042	+10% $2,000
Rent	-10% $1,775	-5% $1,930	+0% $2,085	+5% $2,239	+10% $2,394
Rate	-1.0pp $2,160	-0.5pp $2,122	base $2,085	+0.5pp $2,046	+1.0pp $2,007

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,528
1× unit	2	1	$1,393
Total (3 units)			$3,921

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 N Park St Unit B Anchorage, AK	3.0	1.0	2000	$2,000	$1.00	24d	1	0.23mi
235 Skwentna Dr Anchorage, AK	3.0	2.5	1535	$2,500	$1.63	45d	1	1.21mi

Listing history 13 events

1. 2026-03-21
   status Pending
2. 2026-03-20
   listed $149,000 Active
3. 2019-10-25
   listed $59,900
4. 2019-06-07
   listed $90,500
5. 2017-09-02
   listed $200,000
6. 2014-10-24
   listed $265,000
7. 2012-01-24
   listed $229,000
8. 2005-10-24
   listed $260,000
9. 1998-11-21
   listed $76,500
10. 1998-07-17
    listed $76,500
11. 1998-03-17
    listed $76,500
12. 1997-01-20
    listed $74,500
13. 1996-03-11
    listed $73,500

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

Tax reassessment forecast AK · Partial reset (capped growth)

• Current annual tax: $2,035 · $170/mo
• Projected year-2 tax: $2,035 · $170/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $47,052
• − Mortgage interest: −$8,346
• − Property taxes: −$2,035
• − Insurance: −$745
• − Repairs & maintenance: −$3,764
• − Management: −$3,764
• − Depreciation: −$4,335
• Taxable income: $24,062
• Est. tax owed @ 24.0%: −$5,775
• After-tax cash flow: $19,239/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: 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

+102.7% since first listed

13 events — show timeline

• 2026-03-21 Pending — AKMLS
• 2026-03-20 Listed $149,000 AKMLS
• 2019-10-25 Listed $59,900 AKMLS
• 2019-06-07 Listed $90,500 AKMLS
• 2017-09-02 Listed $200,000 AKMLS
• 2014-10-24 Listed $265,000 AKMLS
• 2012-01-24 Listed $229,000 AKMLS
• 2005-10-24 Listed $260,000 AKMLS
• 1998-11-21 Listed $76,500 AKMLS
• 1998-07-17 Listed $76,500 AKMLS
• 1998-03-17 Listed $76,500 AKMLS
• 1997-01-20 Listed $74,500 AKMLS
• 1996-03-11 Listed $73,500 AKMLS

Property tax history

-4.4%/yr

Latest (2025): $2,035 · -1.2% YoY. Source: county tax records.