1703 Alder Dr · Anchorage, AK 99508

$265,000

5 bd · 2.0 ba · 1,572 sqft · SingleFamily public records · 12 Days on market

Built 1953 9,375 sqft lot $169/sqft · 32% below area Est $391k · 32% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON THE MARKET AT NO FAULT TO THE SELLER. Location, Location, This home is the perfect place. With 4 bedrooms, 2 bath , single garage with alley way access and a completely fenced in yard. Literally walking distance of the Airport Heights Elementary. Built in 1953, this home does need a total remodel and is perfect investment property

Key facts

• 9,375 sq ft lot
• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-24 ($-284/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (5.7% below list).
• Recommended offer: $250k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• This rent runs 38% 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 $2k of loan paydown is wiped out by about $8k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,856 (5.7% 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. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 8.8

CMA / ARV

• ARV (median comp): $391,433
• List price: $265,000
• Delta: -32.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1703 Alder Dr	0.00mi	4/2.0 (-1)	1,572 (0%)	1mo	$265,000	$169	94
2215 Sunburst Cir	0.35mi	4/2.5 (-1)	1,554 (-1%)	6mo	$350,000	$225	70
3514 E 19th Ave	0.44mi	4/2.0 (-1)	1,496 (-5%)	3mo	$330,000	$221	64
2411 E 17th Ave	0.27mi	4/2.0 (-1)	1,437 (-9%)	13mo	$400,000	$278	58
2215 Radiant Cir	0.38mi	4/2.0 (-1)	1,428 (-9%)	12mo	$360,000	$252	52
1903 Talkeetna St	0.28mi	4/2.0 (-1)	1,456 (-7%)	21mo	$444,000	$305	52
1513 Columbine St	0.42mi	4/2.0 (-1)	1,638 (+4%)	23mo	$375,000	$229	49
2631 Darby Cir	0.62mi	4/1.0 (-1)	1,482 (-6%)	11mo	$385,000	$260	44

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: -14.6%
• Equity multiple: 0.47×
• Total profit: $-39,492
• Equity at exit: $39,512

10-year hold

• IRR: -2.8%
• Equity multiple: 0.79×
• Total profit: $-15,228
• Equity at exit: $22,912

Cash invested: $74,200 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,499 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$497 /mo · $5,969/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-24

Break-even live

Break-even rent $2,528

Max offer price $260,826

Occupancy floor 96%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-16
   status Pending 342-char remark

   Show marketing remark (342 chars)

   BACK ON THE MARKET AT NO FAULT TO THE SELLER. Location, Location, This home is the perfect place. With 4 bedrooms, 2 bath , single garage with alley way access and a completely fenced in yard. Literally walking distance of the Airport Heights Elementary. Built in 1953, this home does need a total remodel and is perfect investment property

2. 2026-05-09
   status Active 342-char remark

   Show marketing remark (342 chars)

   BACK ON THE MARKET AT NO FAULT TO THE SELLER. Location, Location, This home is the perfect place. With 4 bedrooms, 2 bath , single garage with alley way access and a completely fenced in yard. Literally walking distance of the Airport Heights Elementary. Built in 1953, this home does need a total remodel and is perfect investment property

3. 2026-01-30
   status Pending 342-char remark

   Show marketing remark (342 chars)

   BACK ON THE MARKET AT NO FAULT TO THE SELLER. Location, Location, This home is the perfect place. With 4 bedrooms, 2 bath , single garage with alley way access and a completely fenced in yard. Literally walking distance of the Airport Heights Elementary. Built in 1953, this home does need a total remodel and is perfect investment property

4. 2026-01-23
   listed $265,000 Active 342-char remark

   Show marketing remark (342 chars)

   BACK ON THE MARKET AT NO FAULT TO THE SELLER. Location, Location, This home is the perfect place. With 4 bedrooms, 2 bath , single garage with alley way access and a completely fenced in yard. Literally walking distance of the Airport Heights Elementary. Built in 1953, this home does need a total remodel and is perfect investment property

5. 1976-10-04
   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: $5,969 · $497/mo
• Projected year-2 tax: $5,969 · $497/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: $29,983
• − Mortgage interest: −$14,844
• − Property taxes: −$5,969
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,399
• − Management: −$2,399
• − Depreciation: −$7,709
• Taxable loss: −$4,661
• Est. tax savings @ 24.0%: +$1,119
• After-tax cash flow: $835/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

5 events — show timeline

• 2026-05-16 Pending — AKMLS
• 2026-05-09 Relisted — AKMLS
• 2026-01-30 Pending — AKMLS
• 2026-01-23 Listed $265,000 AKMLS
• 1976-10-04 Sold (Public Records) — Public Records

Property tax history

+13.7%/yr

Latest (2025): $5,969 · +3.6% YoY. Source: county tax records.