6313 E 32nd Ave · Anchorage, AK 99504

$639,000

6 bd · 4.0 ba · 3,548 sqft · MultiFamily public records · 5 Days on market

Built 1971 0.25 ac lot Est $667k · 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 +20.7/30.0
• ARV discount +9.4/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

Fantastic opportunity to own a well maintained 4-plex in East Anchorage. Close to parks, trails, schools, and Cheney Lake. Updated paint, flooring, kitchens and additional improvements throughout! This property features spacious and well-kept common areas, shared ground-level laundry, and a fully fenced corner lot offering added privacy and outdoor space. Unit mix includes: Unit 1: 1 bedroom, 1 bathroom Unit 2,3,4: 2 bedroom, 1 bathroom each. An excellent asset for both owner-occupants and investors seeking a turnkey multi-family property in a prime location.

Key facts

• Close to parks
• Close to schools
• Close to cheney lake

Tags

• WELL MAINTAINED 4-PLEX
• CLOSE TO PARKS
• CLOSE TO TRAILS
• CLOSE TO SCHOOLS
• CLOSE TO CHENEY LAKE
• UPDATED PAINT

Property features AI

Exterior

• Parking: 5 open parking spaces; No attached garage; No carport
• Utilities: Public sewer
• Home design: Multi-family property; Built in 1971; Wood frame construction; Unknown foundation type
• Construction: Wood frame construction; Built in 1971; Unknown foundation
• Exterior features: Paved road access; Lot is 0.25 acres

Interior

• Bedrooms: 7 bedrooms
• Flooring: Carpet
• Bathrooms: 4 full bathrooms
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 1×1.0bd/1.0ba + 3×1.75bd/1.0ba units multifamily listed at $639k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive. Per door: $216/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $639k).
• Cap rate 7.9% 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.
• Zoned schools: Baxter Elementary (math 32% / reading 27%, grade F, #112 of 156 statewide, top 74%, 269 students, 68% FRL); Wendler Middle School (math 19% / reading 36%, grade F, #29 of 36 statewide, top 80%, 422 students, 60% FRL); Bartlett High School (math 22% / reading 27%, grade F, #42 of 61 statewide, top 82%, 1,373 students, 64% FRL) — zoned schools average 64% FRL vs 38% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 40% district-wide (-13 pts) — the specific schools serving this property underperform the Anchorage School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.6%/yr); 217 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $6,472/mo this rent would consume 90% of the median local household income ($87k/yr) (locally 1052% 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 $4k of loan paydown is wiped out by about $19k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 30y 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 $639,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.01% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $667,024
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4021 Lunar Dr	0.61mi	6/4.0	3,301 (-7%)	7mo	$620,000	$188	54
2430 Tagalak Dr	0.64mi	6/3.5	3,840 (+8%)	9mo	$569,000	$148	47

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 · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-51,291
• Equity at exit: $95,277

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $14,856
• Equity at exit: $55,249

Cash invested: $178,920 (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 99504

• Rents YoY: 2.6%
• Active inventory: 217
• Price-to-rent: 32.9×

Monthly cashflow live

• Estimated rent: $6,472 high
• Mortgage (P&I): −$3,351
• Tax from tax record: −$631 /mo · $7,576/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,359
• Net cashflow: $864

Break-even live

Break-even rent $5,378

Max offer price $639,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,226	-5% $1,045	+0% $864	+5% $683	+10% $503
Rent	-10% $353	-5% $609	+0% $864	+5% $1,120	+10% $1,376
Rate	-1.0pp $1,186	-0.5pp $1,027	base $864	+0.5pp $699	+1.0pp $530

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

Units	Beds	Baths	Est. rent
1× unit	1.0	1	$1,618
▸ 3× units	1.75	1	$4,854
Total (4 units)			$6,472

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-21
   listed $639,000 Active
2. 2020-07-08
   soldstatus
3. 2014-05-27
   soldstatus
4. 2014-02-20
   listed $449,900
5. 2013-10-29
   listed $439,900
6. 2013-07-02
   listed $439,900
7. 2006-08-02
   soldstatus
8. 2000-11-04
   listed $270,000
9. 2000-07-20
   listed $268,900
10. 1999-10-14
    listed $270,000
11. 1998-01-07
    soldstatus
12. 1996-04-02
    listed $184,000

ⓘ 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: $7,576 · $631/mo
• Projected year-2 tax: $7,590 · $633/mo
• Expected delta: +$14/yr (+$1/mo · 0.2%)

ⓘ 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: $77,664
• − Mortgage interest: −$35,794
• − Property taxes: −$7,576
• − Insurance: −$3,195
• − Repairs & maintenance: −$6,213
• − Management: −$6,213
• − Depreciation: −$18,589
• Taxable income: $84
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $10,352/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): 42,093
• Household income: $86,710
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1052.0

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 0.80)
• Race & ethnicity: White 41% Two or more races 18% Asian 13% Native American 9% Black 9% Hispanic / Latino 9% Pacific Islander 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Portuguese 2% Ukrainian 2% Romanian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Other Asian/Pacific 9% Spanish 4% Tagalog/Filipino 3%

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: ▼ -184.29%
• Current HPI: 259.8803
• Rent YoY: ▲ 2.57%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+247.3% since first listed

13 events — show timeline

• 2026-05-27 Pending — AKMLS
• 2026-05-21 Listed $639,000 AKMLS
• 2020-07-08 Sold (Public Records) — Public Records
• 2014-05-27 Sold (Public Records) — Public Records
• 2014-02-20 Listed $449,900 AKMLS
• 2013-10-29 Listed $439,900 AKMLS
• 2013-07-02 Listed $439,900 AKMLS
• 2006-08-02 Sold (Public Records) — Public Records
• 2000-11-04 Listed $270,000 AKMLS
• 2000-07-20 Listed $268,900 AKMLS
• 1999-10-14 Listed $270,000 AKMLS
• 1998-01-07 Sold (Public Records) — Public Records
• 1996-04-02 Listed $184,000 AKMLS

Property tax history

+2.5%/yr

Latest (2025): $7,576 · +4.6% YoY. Source: county tax records.