540 Vista Ct · Anchorage, AK 99501

$1,100,000

12 bd · 10.0 ba · 9,425 sqft · MultiFamily public records · 110 Days on market

Built 1965 10,508 sqft lot $117/sqft · at area comps Est $1106k · at est.

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.7/15.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Downtown income property! Huge penthouse manager/owners unit, with beamed ceiling, sunroom, and a large, south facing rooftop deck. Has a 5 car garage & ample storage for all tenants. Laundry room on site w room to add more W/D. Has an enclosed backyard with southern exposure.

Key facts

• Laundry room on site
• Enclosed backyard
• 0.24 acre lot

Tags

• SOUTH FACING ROOFTOP DECK
• ENCLOSED BACKYARD
• LAUNDRY ROOM ON SITE

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $597/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.10M).
• Recommended offer: $1.00M (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+5.1%/yr); 102 active listings in the ZIP; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $12,387/mo this rent would consume 210% of the median local household income ($71k/yr) (locally 889% 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 $8k of loan paydown is wiped out by about $33k 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 + 5.1% rent growth), your $308k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($1.00M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $1,001,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.13% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• GRM: 7.4

CMA / ARV

• ARV (median comp): $1,105,776
• List price: $1,100,000
• Delta: -0.52%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.12% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $840
• Equity at exit: $164,014

10-year hold

• IRR: 11.8%
• Equity multiple: 2.01×
• Total profit: $312,389
• Equity at exit: $95,108

Cash invested: $308,000 (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 99501

• Home prices YoY: -3.7%
• Rents YoY: 5.1%
• Active inventory: 102
• Price-to-rent: 29.6×

Monthly cashflow live

• Estimated rent: $12,387 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$1,172 /mo · $14,059/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,601
• Net cashflow: $2,387

Break-even live

Break-even rent $9,365

Max offer price $1,100,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$12,388
Total (4 units)			$12,387

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,100,000 Active 110 DOM
2. 2026-06-17
   days on market $1,100,000 Active 109 DOM
3. 2026-06-16
   days on market $1,100,000 Active 108 DOM
4. 2026-06-15
   days on market $1,100,000 Active 107 DOM
5. 2026-06-14
   days on market $1,100,000 Active 105 DOM
6. 2026-06-13
   days on market $1,100,000 Active 104 DOM
7. 2026-06-10
   days on market $1,100,000 Active 102 DOM
8. 2026-06-09
   days on market $1,100,000 Active 101 DOM
9. 2026-06-08
   days on market $1,100,000 Active 100 DOM
10. 2026-06-07
    days on market $1,100,000 Active 99 DOM
11. 2026-06-03
    days on market $1,100,000 Active 95 DOM
12. 2026-06-02
    days on market $1,100,000 Active 94 DOM
13. 2026-06-01
    days on market $1,100,000 Active 93 DOM
14. 2026-05-31
    days on market $1,100,000 Active 92 DOM
15. 2026-05-30
    days on market $1,100,000 Active 91 DOM
16. 2026-02-28
    listed $1,100,000 Active 281-char remark

    Show marketing remark (281 chars)

    Downtown income property! Huge penthouse manager/owners unit, with beamed ceiling, sunroom, and a large, south facing rooftop deck. Has a 5 car garage & ample storage for all tenants. Laundry room on site w room to add more W/D. Has an enclosed backyard with southern exposure.

17. 2024-06-07
    historical $975
18. 2024-05-31
    listed $975
19. 2023-08-15
    historical
20. 2007-07-24
    soldstatus
21. 1989-08-11
    soldstatus

ⓘ 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: $14,059 · $1,172/mo
• Projected year-2 tax: $14,059 · $1,172/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: $148,644
• − Mortgage interest: −$61,617
• − Property taxes: −$14,059
• − Insurance: −$5,500
• − Repairs & maintenance: −$11,892
• − Management: −$11,892
• − Depreciation: −$32,000
• Taxable income: $11,684
• Est. tax owed @ 24.0%: −$2,804
• After-tax cash flow: $25,843/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): 16,175
• Household income: $70,891
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 889.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 53% Hispanic / Latino 11% Two or more races 11% Native American 9% Black 9% Asian 6% Pacific Islander 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 1%
• Common ancestry: Portuguese 3% Slovak 3% Romanian 2%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 7% Other Asian/Pacific 2% Tagalog/Filipino 2%

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: ▼ -9.72%
• Current HPI: 251.948
• Rent YoY: ▲ 5.12%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

6 events — show timeline

• 2026-02-28 Listed $1,100,000 AKMLS
• 2024-06-07 Rental Removed $975 APPFOLIO
• 2024-05-31 Listed for Rent $975 APPFOLIO
• 2023-08-15 Rental Removed — APPFOLIO
• 2007-07-24 Sold (Public Records) — Public Records
• 1989-08-11 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $14,059 · +3.4% YoY. Source: county tax records.