9353 Blackberry St #2 · Anchorage, AK 99502

$170,000

2 bd · 1.0 ba · 738 sqft · Condo · 171 Days on market

Built 1982 Average condition $230/sqft · 12% below area Est $193k · 12% under $606/mo HOA · 38% of rent

---

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).

• ARV discount +12.9/15.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Cash flow +3.5/30.0
• Condition / age +2.8/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity with condo with value in location and light. Living and dining rooms are flooded with sunshine from a near wall of windows overlooking the greenbelt with partial lake views. Ready for your vision and remodel. Walk to shopping and just 3 minutes to the highway. HOA includes everything but electric.

Key facts

• Walk to shopping
• Partial lake views
• $606 HOA

Tags

• PARTIAL LAKE VIEWS
• WALK TO SHOPPING
• 3 MINUTES TO THE HIGHWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $170k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-512 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (43.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (5.5% below list).
• Recommended offer: $96k (43.6% below list) — sets the bar for cash-flow.
• Cap rate 2.7% vs local median 3.8% in Anchorage — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Kincaid Elementary (math 52% / reading 48%, grade D+, #52 of 156 statewide, top 34%, 466 students, 25% FRL); Mears Middle School (math 30% / reading 47%, grade F, #17 of 36 statewide, top 46%, 733 students, 30% FRL); Dimond High School (math 37% / reading 41%, grade F, #23 of 61 statewide, top 37%, 1,443 students, 25% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 215 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• This rent is only 17% of the median local income ($116k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $95,942 (43.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
10. 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.
11. 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.
12. 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: 0.94% ✗
• Cap rate: 2.68%
• Cash-on-cash: -12.90%
• DSCR: 0.43
• GRM: 8.8

CMA / ARV

• ARV (median comp): $193,137
• List price: $170,000
• Delta: -11.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9327 Blackberry St Unit G25	0.02mi	2/1.0	743 (+1%)	1mo	$192,900	$260	97
3520 W Dimond Blvd #2	0.11mi	2/1.0	921 (+25%)	10mo	$189,000	$205	61
7068 Weimer Rd #3	1.44mi	2/1.0	750 (+2%)	6mo	$145,000	$193	58
8601 Molanary Dr #7	0.52mi	2/1.0	815 (+10%)	4mo	$175,000	$215	56
8641 Blackberry St Unit 19B	0.42mi	2/1.0	835 (+13%)	4mo	$195,000	$234	55
3441 W 88th Ave Unit B12	0.37mi	2/1.0	835 (+13%)	8mo	$189,900	$227	54
8601 Molanary Dr #9	0.52mi	2/1.0	815 (+10%)	6mo	$160,000	$196	54
8641 Blackberry St Unit 6B	0.42mi	2/1.0	880 (+19%)	9mo	$160,000	$182	48
9321 Arlene Dr Unit A06	0.48mi	2/1.0	864 (+17%)	9mo	$161,600	$187	45
8505 Jewel Lake Rd #15	0.59mi	2/2.0	875 (+19%)	3mo	$225,000	$257	41
7141 Weimer Rd #6	1.38mi	2/1.0	830 (+12%)	8mo	$174,500	$210	38
2100 Minverva Way Unit A21	0.79mi	1/1.0 (-1)	605 (-18%)	11mo	$133,000	$220	26

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -36.8%
• Equity multiple: -0.20×
• Total profit: $-57,170
• Equity at exit: $25,348

10-year hold

• IRR: -35.0%
• Equity multiple: -0.66×
• Total profit: $-79,225
• Equity at exit: $14,698

Cash invested: $47,600 (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 99502

• Rents YoY: 4.6%
• Active inventory: 215
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,606 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$606
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-512

Break-even live

Break-even rent $2,254

Max offer price $95,942

Occupancy floor —

Sensitivity live

Price	-10% $-394	-5% $-453	+0% $-512	+5% $-571	+10% $-629
Rent	-10% $-639	-5% $-575	+0% $-512	+5% $-448	+10% $-385
Rate	-1.0pp $-426	-0.5pp $-469	base $-512	+0.5pp $-556	+1.0pp $-601

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: $42,500
• Closing costs: $5,100
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 W 80th Ave Anchorage, AK	2.0	1.0	730	$1,690	$2.32	63d	5	1.27mi
7045 Weimer Rd #3 Anchorage, AK	1.0	1.0	499	$1,300	$2.61	63d	1	1.46mi

HOA detail $606/mo · $7,272/yr condo

• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-07-04
   days on market $170,000 Active 171 DOM
2. 2026-07-03
   days on market $170,000 Active 170 DOM
3. 2026-07-02
   days on market $170,000 Active 169 DOM
4. 2026-07-01
   days on market $170,000 Active 168 DOM
5. 2026-06-30
   days on market $170,000 Active 167 DOM
6. 2026-06-29
   days on market $170,000 Active 166 DOM
7. 2026-06-28
   days on market $170,000 Active 165 DOM
8. 2026-06-28
   days on market $170,000 Active 164 DOM
9. 2026-06-27
   days on market $170,000 Active 163 DOM
10. 2026-06-25
    days on market $170,000 Active 161 DOM
11. 2026-06-23
    days on market $170,000 Active 159 DOM
12. 2026-06-22
    days on market $170,000 Active 158 DOM
13. 2026-06-18
    days on market $170,000 Active 155 DOM
14. 2026-06-17
    days on market $170,000 Active 154 DOM
15. 2026-06-16
    days on market $170,000 Active 153 DOM
16. 2026-06-15
    days on market $170,000 Active 152 DOM
17. 2026-06-14
    days on market $170,000 Active 150 DOM
18. 2026-06-13
    days on market $170,000 Active 149 DOM
19. 2026-06-10
    days on market $170,000 Active 147 DOM
20. 2026-06-09
    days on market $170,000 Active 146 DOM
21. 2026-06-08
    days on market $170,000 Active 145 DOM
22. 2026-06-07
    days on market $170,000 Active 144 DOM
23. 2026-06-03
    days on market $170,000 Active 140 DOM
24. 2026-06-02
    days on market $170,000 Active 139 DOM
25. 2026-06-01
    days on market $170,000 Active 138 DOM
26. 2026-05-31
    days on market $170,000 Active 137 DOM
27. 2026-05-30
    days on market $170,000 Active 136 DOM
28. 2026-01-13
    listed $170,000 Active 396-char remark

    Show marketing remark (396 chars)

    Opportunity with condo with value in location and light. Living and dining rooms are flooded with sunshine from a near wall of windows overlooking the greenbelt with partial lake views. Ready for your vision and remodel. Walk to shopping and just 3 minutes to the highway. HOA includes everything but electric. Seller allows buyer to finance improvements at closing, completed under new ownership

ⓘ 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: $19,276
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − HOA: −$7,272
• − Depreciation: −$4,945
• Taxable loss: −$8,948
• Est. tax savings @ 24.0%: +$2,147
• After-tax cash flow: $-3,994/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 · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $3,690–$11,070 screening

This condo is in average condition with cosmetic updates needed to modernize the kitchen and bathroom, and improve the overall curb appeal.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate kitchen appliances — dated and worn
• Moderate bathroom fixtures — standard and worn
• Moderate bathroom cabinetry — standard and worn

Value-add opportunities

• Both update kitchen cabinets, countertops, and appliances — modernizing the kitchen will increase both resale and rental value ↑
• Both update bathroom fixtures and cabinetry — modernizing the bathroom will increase both resale and rental value ↑
• Both paint interior walls — fresh paint will improve the home's curb appeal and interior aesthetics ↑
• Both replace carpeted flooring with hardwood or tile — hardwood or tile flooring will increase both resale and rental value ↑
• Both landscaping and curb appeal improvements — improved landscaping and curb appeal will increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Kincaid Elementary D+ AK #52/156 Nat'l #12,529/41,679 Middle Mears Middle School F AK #17/36 Nat'l #6,453/14,009 High Dimond High School F AK #23/61 Nat'l #8,724/17,239

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

B Composite livability gradescore 78/100

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 · 314,993 people
• City population: 218,117
• Metro: Anchorage, AK
• Population (ZIP): 25,006
• Household income: $116,071
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 6% of renters

---

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 0.65)
• Race & ethnicity: White 58% Two or more races 14% Native American 10% Asian 9% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Italian 3% Slovak 3%
• Foreign-born: 9% · South Korea, Canada
• Languages at home: 85% English-only · Spanish 6% 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: ▼ -205.90%
• Current HPI: 290.7795
• Rent YoY: ▲ 4.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-13 Listed $170,000 AKMLS