3808 Peterkin Ave · Anchorage, AK 99508

$57,200

2 bd · 2.0 ba · 1,716 sqft · MultiFamily public records · 55 Days on market

Built 1950 6,750 sqft lot $33/sqft · 83% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Attention investors and remodelers! Don't miss this opportunity to transform this duplex and build sweat equity while adding your own personal touches. Located right next to the Mountain View Community Center.

Key facts

• 6,750 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $57k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $949/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $57k).
• Recommended offer: $55k (3.0% below list) — sets the bar for market timing.
• Cap rate 46.1% 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.
• Market conditions: Rents rising fast (+4.9%/yr); 147 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• This rent runs 44% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $395 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 $16k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,484 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 5.08% ✓
• Cap rate: 46.13%
• Cash-on-cash: 142.27%
• DSCR: 7.33
• GRM: 1.6

CMA / ARV

• ARV (median comp): $339,537
• List price: $57,200
• Delta: -83.15%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3523 Thompson Ave	0.23mi	3/2.0 (+1)	1,554 (-9%)	3mo	$374,900	$241	66
4103 E 3rd Ave	0.41mi	3/2.0 (+1)	1,820 (+6%)	10mo	$320,000	$176	58

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: —
• Equity multiple: 8.32×
• Total profit: $117,310
• Equity at exit: $8,529

10-year hold

• IRR: —
• Equity multiple: 18.60×
• Total profit: $281,922
• Equity at exit: $4,946

Cash invested: $16,016 (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: 3.3×

Monthly cashflow live

• Estimated rent: $2,904 high
• Mortgage (P&I): −$300
• Tax est. 1.5%: −$72 /mo · $858/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $1,899

Break-even live

Break-even rent $500

Max offer price $57,200

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,904
Total (2 units)			$2,904

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: $14,300
• Closing costs: $1,716
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 N Klevin St Unit B Anchorage, AK	2.0	1.0	1080	$1,700	$1.57	44d	1	0.23mi
617 N Park St Unit B Anchorage, AK	3.0	1.0	2000	$2,000	$1.00	23d	1	0.33mi
3926 E 3rd Ave #6 Anchorage, AK	3.0	1.5	1200	$2,000	$1.67	44d	1	0.41mi
814 N Bunn St Unit 4 Anchorage, AK	2.0	1.0	1100	$1,400	$1.27	14d	1	0.48mi
3925 E 9th Ave Unit 5 Anchorage, AK	3.0	1.5	1200	$1,750	$1.46	44d	1	0.82mi
5201 Chena Ave #1 Anchorage, AK	3.0	1.0	1100	$1,350	$1.23	44d	1	0.88mi

Listing history 9 events

1. 2026-06-18
   days on market $57,200 Active 55 DOM
2. 2026-06-17
   days on market $57,200 Active 54 DOM
3. 2026-06-16
   days on market $57,200 Active 53 DOM
4. 2026-06-15
   days on market $57,200 Active 52 DOM
5. 2026-06-14
   days on market $57,200 Active 50 DOM
6. 2026-06-13
   status $57,200 Active 49 DOM
7. 2026-03-31
   listed $57,200 Active 210-char remark

   Show marketing remark (210 chars)

   Attention investors and remodelers! Don't miss this opportunity to transform this duplex and build sweat equity while adding your own personal touches. Located right next to the Mountain View Community Center.

8. 2006-09-15
   soldstatus
9. 1996-07-11
   soldstatus

ⓘ 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: $34,848
• − Mortgage interest: −$3,204
• − Property taxes: −$858
• − Insurance: −$286
• − Repairs & maintenance: −$2,788
• − Management: −$2,788
• − Depreciation: −$1,664
• Taxable income: $23,260
• Est. tax owed @ 24.0%: −$5,582
• After-tax cash flow: $17,204/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

3 events — show timeline

• 2026-03-31 Listed $57,200 AKMLS
• 2006-09-15 Sold (Public Records) — Public Records
• 1996-07-11 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $4,241 · +4.4% YoY. Source: county tax records.