170 Grand Larry St Unit C8 · Anchorage, AK 99504

$145,000

2 bd · 1.0 ba · 1,019 sqft · Condo · 5 Days on market

Built 1977 Good condition $142/sqft · 10% below area Est $162k · 10% under $361/mo HOA · 19% of rent

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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 +18.8/30.0
• ARV discount +12.1/15.0
• 1% rule +8.2/10.0
• DSCR +5.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Light and bright top floor corner end unit with lots of updates - fresh paint, fresh flooring, tiled bathroom. Spacious and smart layout with two large bedrooms, a private deck off the living area, ample storage, and in-unit laundry. Dedicated parking, sparkling clean and ready for a new owner!

Key facts

• $361 HOA
• Built 1977
• Listed 5 days

Property features AI

Finance

• Other: Upper-level unit located in the back-left corner of the last building on the right (Unit C8) within the condo campus
• HOA & community: Homeowners association (Grand Larry Condo Association); Monthly association fee of $361; HOA covers sewer, snow removal, water, and insurance

Exterior

• Parking: No garage; No carport
• Utilities: Public sewer
• Home design: Condominium; Attached property; Built in 1977
• Construction: Wood frame construction; Other foundation
• Exterior features: Paved road access; Asphalt shingle roof

Interior

• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Interior features: Ceiling fans; Electric service; Smoke detectors; Laminate counters

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 7.5% 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 (+2.6%/yr); 214 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• 5 sale attempts since 28y 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 $145,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.32% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 6.3

CMA / ARV

• ARV (median comp): $161,629
• List price: $145,000
• Delta: -10.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-14,825
• Equity at exit: $21,620

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-3,336
• Equity at exit: $12,537

Cash invested: $40,600 (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 99504

• Rents YoY: 2.6%
• Active inventory: 214
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,909 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$361
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $145

Break-even live

Break-even rent $1,725

Max offer price $145,000

Occupancy floor 87%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8114 Boundary Ave Apt D Anchorage, AK	2.0	1.0	1023	$1,750	$1.71	13d	1	0.11mi
248 Zappa Pl Unit A Anchorage, AK	3.0	2.0	1300	$2,150	$1.65	43d	1	0.18mi
7746 Boundary Ave Unit B2 Anchorage, AK	3.0	2.0	1189	$2,300	$1.93	23d	1	0.19mi
7531 Peck Ave Unit 2 Anchorage, AK	1.0	1.0	700	$1,350	$1.93	23d	1	0.28mi
7317 Peck Ave Unit B Anchorage, AK	2.0	1.0	850	$1,650	$1.94	23d	1	0.42mi
7313 Peck Ave Unit B Anchorage, AK	2.0	1.0	850	$1,650	$1.94	23d	1	0.43mi
179 Oklahoma St Unit 4 Anchorage, AK	1.0	1.0	700	$1,200	$1.71	23d	1	0.44mi
7401 E 4th Ave Unit 6 Anchorage, AK	3.0	2.0	1272	$2,150	$1.69	23d	1	0.47mi
7045 Gold Kings Ave Unit C Anchorage, AK	3.0	1.5	1200	$2,600	$2.17	23d	1	0.60mi
7005 Gold Kings Ave Unit B Anchorage, AK	3.0	1.5	1200	$2,445	$2.04	43d	1	0.65mi
6810 Gold Kings Cir Unit B Anchorage, AK	3.0	1.5	1200	$2,550	$2.12	13d	1	0.76mi
6701 E 6th Ave Apt 8 Anchorage, AK	2.0	1.0	750	$1,450	$1.93	43d	1	0.89mi
6701 E 6th Ave Apt 10 Anchorage, AK	1.0	1.0	800	$1,450	$1.81	43d	1	0.89mi
8110 E 16th Ave Unit C6 Anchorage, AK	2.0	1.0	1047	$1,850	$1.77	21d	1	1.10mi
5901 E 6th Ave Anchorage, AK	2.0–3.0	1.0–2.0	907	$1,999	$2.20	13d	7	1.24mi
1720 Muldoon Cir Unit 4 Anchorage, AK	2.0	1.0	850	$1,850	$2.18	43d	1	1.25mi
5741 Rocky Mountain Ct Unit D Anchorage, AK	2.0	1.0	900	$1,475	$1.64	23d	1	1.44mi

HOA detail condo

• Monthly dues: $361 · $4,332/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-05
   status Pending 295-char remark
2. 2026-04-30
   listed $145,000 Active 295-char remark
3. 2011-02-15
   listed $124,900
4. 2005-03-03
   listed $108,000
5. 2000-12-29
   listed $57,000
6. 1998-10-29
   listed $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,909
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − HOA: −$4,332
• − Depreciation: −$4,218
• Taxable loss: −$329
• Est. tax savings @ 24.0%: +$79
• After-tax cash flow: $1,820/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 · 13 photos

Good 75/100 Cosmetic rehab

This top floor corner end unit is in good condition with recent updates, including fresh paint and flooring. It has a good layout with two large bedrooms, a private deck, and ample storage. The home is ready for a new owner and can be further enhanced with some exterior painting and a new ceiling fan.

Value-add opportunities

• Resale Paint the exterior siding — Fresh paint on the exterior can make the home look more appealing to potential buyers.
• Rental Replace the ceiling fan in the living room — A new ceiling fan can improve the comfort of the living room and attract renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Fresh paint on the exterior can make the home look more appealing to potential buyers. ↑
• Rental Replace the ceiling fan in the living room — A new ceiling fan can improve the comfort of the living room and attract renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+190.0% since first listed

6 events — show timeline

• 2026-05-05 Pending — AKMLS
• 2026-04-30 Listed $145,000 AKMLS
• 2011-02-15 Listed $124,900 AKMLS
• 2005-03-03 Listed $108,000 AKMLS
• 2000-12-29 Listed $57,000 AKMLS
• 1998-10-29 Listed $50,000 AKMLS