73340 School Ave · Anchor Point, AK 99556

$239,000

2 bd · 2.0 ba · 1,556 sqft · SingleFamily public records · 295 Days on market

Built 1998 0.92 ac lot $154/sqft · 40% below area Est $398k · 40% under ↓ 11% since listing

---

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 +15.0/15.0
• Cash flow +6.6/30.0
• Appreciation +6.2/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• 1% rule +0.7/10.0

Listing remarks MLS

Hidden Gem in the Heart of Anchor Point! Discover this charming 1,556 sq. ft. home on nearly an acre (.92) of beautifully landscaped grounds, where someone has poured heart and time into creating a serene outdoor retreat. With 2 bedrooms and 1 bath, this home offers plenty of potential inside, so bring your remodeling ideas, perfect for a renovation loan. The property is set up for both convenience and fun, tons of parking for guests, toys or boats, and even a dedicated wood shop perfect for projects, hobbies, or storage. All of this is just minutes from Anchor Point Beach and the mouth of the Anchor River, for some of the best fishing in Alaska! This is the perfect place to enjoy the best of small-town Alaska living and room to spread out, a property with character, and endless potential to make it your own.

Key facts

• Dedicated wood shop
• 0.92 acre lot
• Built 1998

Tags

• SERENE OUTDOOR RETREAT
• DEDICATED WOOD SHOP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $-392 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (29.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (43.1% below list).
• Recommended offer: $136k (43.1% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.3% in Anchor Point — 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 67/100 on livability (#23 in AK) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B; Watch: employment D+, amenities F, commute F.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chapman School (math 32% / reading 52%, grade F, #70 of 156 statewide, top 46%, 160 students, 48% FRL); River City Academy (math 44% / reading 64%, grade C-, #7 of 61 statewide, top 10%, 91 students, 29% FRL).
• Market conditions: 131 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.5% local appreciation)).
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,040 (43.1% 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 295 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.57% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.04%
• DSCR: 0.69
• GRM: 14.6

CMA / ARV

• ARV (median comp): $397,783
• List price: $239,000
• Delta: -39.92%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73120 Thurmond Ave	0.22mi	2/1.0	1,577 (+1%)	12mo	$248,700	$158	74

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

Projected returns pro-forma

2.47% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.96×
• Total profit: $-2,964
• Equity at exit: $100,366

10-year hold

• IRR: 3.4%
• Equity multiple: 1.49×
• Total profit: $32,862
• Equity at exit: $149,368

Cash invested: $66,920 (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 99556

• Home prices YoY: 1.5%
• Active inventory: 131
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-392

Break-even live

Break-even rent $1,857

Max offer price $169,690

Occupancy floor —

Sensitivity live

Price	-10% $-257	-5% $-325	+0% $-392	+5% $-460	+10% $-528
Rent	-10% $-500	-5% $-446	+0% $-392	+5% $-339	+10% $-285
Rate	-1.0pp $-272	-0.5pp $-332	base $-392	+0.5pp $-454	+1.0pp $-517

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $239,000 Active 295 DOM
2. 2026-06-18
   days on market $239,000 Active 294 DOM
3. 2026-06-17
   days on market $239,000 Active 293 DOM
4. 2026-06-16
   days on market $239,000 Active 292 DOM
5. 2026-06-15
   days on market $239,000 Active 291 DOM
6. 2026-06-14
   days on market $239,000 Active 289 DOM
7. 2026-06-12
   days on market $239,000 Active 288 DOM
8. 2026-06-09
   days on market $239,000 Active 285 DOM
9. 2026-06-08
   days on market $239,000 Active 284 DOM
10. 2026-06-07
    days on market $239,000 Active 283 DOM
11. 2026-06-07
    days on market $239,000 Active 282 DOM
12. 2026-06-04
    days on market $239,000 Active 279 DOM
13. 2026-06-02
    days on market $239,000 Active 278 DOM
14. 2026-06-01
    days on market $239,000 Active 277 DOM
15. 2026-05-31
    days on market $239,000 Active 276 DOM
16. 2026-05-31
    days on market $239,000 Active 275 DOM
17. 2026-05-02
    price $239,000 823-char remark

    Show marketing remark (823 chars)

    Hidden Gem in the Heart of Anchor Point! Discover this charming 1,556 sq. ft. home on nearly an acre (.92) of beautifully landscaped grounds, where someone has poured heart and time into creating a serene outdoor retreat. With 2 bedrooms and 1 bath, this home offers plenty of potential inside, so bring your remodeling ideas, perfect for a renovation loan. The property is set up for both convenience and fun, tons of parking for guests, toys or boats, and even a dedicated wood shop perfect for projects, hobbies, or storage. All of this is just minutes from Anchor Point Beach and the mouth of the Anchor River, for some of the best fishing in Alaska! This is the perfect place to enjoy the best of small-town Alaska living and room to spread out, a property with character, and endless potential to make it your own.

18. 2025-08-28
    listed $269,000 Active 823-char remark

    Show marketing remark (823 chars)

    Hidden Gem in the Heart of Anchor Point! Discover this charming 1,556 sq. ft. home on nearly an acre (.92) of beautifully landscaped grounds, where someone has poured heart and time into creating a serene outdoor retreat. With 2 bedrooms and 1 bath, this home offers plenty of potential inside, so bring your remodeling ideas, perfect for a renovation loan. The property is set up for both convenience and fun, tons of parking for guests, toys or boats, and even a dedicated wood shop perfect for projects, hobbies, or storage. All of this is just minutes from Anchor Point Beach and the mouth of the Anchor River, for some of the best fishing in Alaska! This is the perfect place to enjoy the best of small-town Alaska living and room to spread out, a property with character, and endless potential to make it your own.

ⓘ 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: $1,370 · $114/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$737/yr (+$61/mo · 53.8%)

ⓘ 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: $16,325
• − Mortgage interest: −$13,388
• − Property taxes: −$1,370
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$6,953
• Taxable loss: −$9,192
• Est. tax savings @ 24.0%: +$2,206
• After-tax cash flow: $-2,502/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: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Anchor Point

• Score: 67/100
• State rank: #23
• US rank: #10486

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anchor Point, AK
• Population (ZIP): 2,858

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Native American 3%
• Common ancestry: Portuguese 6% Lithuanian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1% German/W. Germanic 0%

Political lean MEDSL · Kenai Peninsula

• 2016 margin: R (+15.2) · D 37.7% · R 52.9% · Other 9.4%
• All cycles: 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.47%
• Current HPI: 169.1953
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.2% since first listed

2 events — show timeline

• 2026-05-02 Price Changed $239,000 AKMLS
• 2025-08-28 Listed $269,000 AKMLS

Property tax history

+7.7%/yr

Latest (2020): $1,370 · +105.4% YoY. Source: county tax records.