144 Craig Ave · Fairbanks, AK 99701

$339,900

6 bd · 2.0 ba · 2,496 sqft · MultiFamily public records · 35 Days on market

Built 1984 7,427 sqft lot $136/sqft · 23% below area Est $434k · 22% under

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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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Schools +3.6/10.0
• Rent growth +2.9/5.0
• Livability +2.9/5.0
• 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

Investment opportunity in the Hamilton Ave neighborhood! Here is a great chance to own a property with rental income and potential right in the heart of town. Each 3 bedroom unit has it's own garage space and washer/dryer. Rents are $1,900 and $2,000/month. Landlord pays all utilities only one meter. Long term tenants currently month to month each.

Key facts

• 7,427 sq ft lot
• 2 garage spots
• Built 1984

Property features AI

Finance

• Other: Zoned Single-Family Residential Districts - 10

Exterior

• Parking: Attached garage with 2 parking spaces
• Home design: Duplex (residential income property)
• Exterior features: Located on Craig Ave with driving directions: Steese Highway to Right on College, Right on Hamilton Ave, Left on Craig Ave

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Two full bathrooms

🏷️ Possibly a rental listed for sale. The $339,900 price doesn't fit this home's estimated sale value (~$433,677) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Recommended offer: $330k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.9% in Fairbanks — 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 57/100 on livability (#95 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime F, amenities F, commute F.
• Fairbanks North Star Borough School District (urban): math 33% / reading 45% proficiency, ranked #10 of 21 in AK (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anne Wien Elementary (math 17% / reading 32%, grade F, #122 of 156 statewide, top 81%, 380 students, 45% FRL); Tanana Middle School (math 23% / reading 44%, grade F, #24 of 36 statewide, top 69%, 545 students, 40% FRL); Lathrop High School (math 32% / reading 42%, grade F, #24 of 61 statewide, top 42%, 886 students, 36% FRL).
• Market conditions: Rents rising (+1.6%/yr); 64 active listings in the ZIP; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).
• At $4,280/mo this rent would consume 68% of the median local household income ($76k/yr) (locally 652% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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 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: 1.26% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.99%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $433,677
• List price: $339,900
• Delta: -21.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
286 le Ann Dr	0.24mi	5/3.0 (-1)	2,440 (-2%)	0mo	$339,950	$139	76
350 Carlton Dr	0.45mi	6/2.0	2,576 (+3%)	20mo	$315,000	$122	57
417/419 Baranof Ave	0.33mi	6/3.5	2,744 (+10%)	13mo	$399,900	$146	51
520 Craig Ave	0.46mi	5/2.5 (-1)	2,352 (-6%)	23mo	$379,505	$161	43
82 D St	0.55mi	6/4.0	2,794 (+12%)	16mo	$200,000	$72	33
1316 Joyce Dr	0.51mi	5/4.0 (-1)	2,158 (-14%)	12mo	$459,990	$213	31

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,246
• Equity at exit: $50,680

10-year hold

• IRR: 8.5%
• Equity multiple: 1.61×
• Total profit: $58,040
• Equity at exit: $29,388

Cash invested: $95,172 (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 99701

• Home prices YoY: -19.4%
• Rents YoY: 1.6%
• Active inventory: 64
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $4,280 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$427 /mo · $5,121/yr
• Insurance: −$142
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$899
• Net cashflow: $975

Break-even live

Break-even rent $3,046

Max offer price $339,900

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,280
Total (2 units)			$4,280

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $339,900 Active 35 DOM
2. 2026-06-18
   days on market $339,900 Active 34 DOM
3. 2026-06-17
   days on market $339,900 Active 33 DOM
4. 2026-06-16
   days on market $339,900 Active 32 DOM
5. 2026-06-15
   days on market $339,900 Active 31 DOM
6. 2026-06-14
   days on market $339,900 Active 29 DOM
7. 2026-06-13
   days on market $339,900 Active 28 DOM
8. 2026-06-10
   days on market $339,900 Active 26 DOM
9. 2026-06-09
   days on market $339,900 Active 25 DOM
10. 2026-06-08
    days on market $339,900 Active 24 DOM
11. 2026-06-05
    days on market $339,900 Active 20 DOM
12. 2026-06-03
    days on market $339,900 Active 19 DOM
13. 2026-06-02
    days on market $339,900 Active 18 DOM
14. 2026-06-01
    days on market $339,900 Active 17 DOM
15. 2026-05-31
    days on market $339,900 Active 16 DOM
16. 2026-05-30
    days on market $339,900 Active 15 DOM
17. 2026-05-16
    listed $339,900 Active 350-char remark
18. 2018-04-20
    listed $244,900
19. 2010-09-24
    soldstatus
20. 2009-08-12
    soldstatus
21. 2007-10-31
    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: $5,121 · $427/mo
• Projected year-2 tax: $5,121 · $427/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $51,360
• − Mortgage interest: −$19,040
• − Property taxes: −$5,121
• − Insurance: −$2,366
• − Repairs & maintenance: −$4,109
• − Management: −$4,109
• − Depreciation: −$9,888
• Taxable income: $6,728
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $10,083/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: Fairbanks North Star Borough School District
• NCES district ID: 0200600
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $69,697
• Composite: 35.5/100
• National rank: #4915
• State rank: #10 of 21 in AK

Livability — Fairbanks

• Score: 57/100
• State rank: #95
• US rank: #21394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairbanks, AK
• County: Fairbanks North Star Borough · 69,381 people
• City population: 47,612
• Metro: Fairbanks, AK
• Population (ZIP): 18,061
• Household income: $75,668
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 652.0

Population outlook (Fairbanks North Star County) Hauer SSP2

• Today (2025): 101,607 people
• By 2030: 102,796 · +1.2%
• By 2040: 104,748 · +3.1%
• By 2050: 107,598 · +5.9%
• By 2075: 118,829 · +16.9%
• By 2100: 127,151 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 59% Two or more races 14% Native American 12% Hispanic / Latino 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 86% English-only · Spanish 4% Korean 2% Tagalog/Filipino 2%

Political lean MEDSL · Fairbanks North Star

• 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: ▼ -37.70%
• Current HPI: 156.1921
• Rent YoY: ▲ 1.62%
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+38.8% since first listed

5 events — show timeline

• 2026-05-16 Listed $339,900 GFBR
• 2018-04-20 Listed $244,900 AKMLS
• 2010-09-24 Sold (Public Records) — Public Records
• 2009-08-12 Sold (Public Records) — Public Records
• 2007-10-31 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $5,121 · +1.9% YoY. Source: county tax records.