16802 Park Place St · Anchorage, AK 99577

$464,900

8 bd · 4.0 ba · 2,464 sqft · MultiFamily public records · 1 Days on market

Built 1966 0.31 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 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

Priced below assessed value! Long term, reliable tenants on monthly agrments. Well maintained 4-plex in central Eagle River close to shopping, dining & amenities. Metal roof, vinyl siding, carport roofing updated, newer windows, newer water heater, newer water tank, newer well pump, gutters & downspouts, smoke & CO detectors. These units are currently rented below market value at $950. No laundry. On site property manager occupies Apt 4. Apt 4 updated in 2024 w/ new stove, kitchen cabinets, bathroom & more! 24 hour notice to show firmly enforced. Only Apt 4 will be shown prior to written notice of intent or offer with Earnest Money. No laundry. Units 1, 2, 3 were no

Key facts

• 0.31 acre lot
• Garage
• Built 1966

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $465k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $679/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $465k).
• Cap rate 13.3% 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: Eagle River Elementary (308 students, 29% FRL); Gruening Middle School (math 42% / reading 60%, grade C, #5 of 36 statewide, top 11%, 589 students, 17% FRL); Chugiak High School (math 42% / reading 42%, grade F, #17 of 61 statewide, top 32%, 905 students, 19% FRL) — zoned schools average 22% FRL vs 38% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 242 active listings in the ZIP; high-income renter base; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $7,525/mo this rent would consume 66% of the median local household income ($137k/yr) (locally 315% 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 $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $130k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $464,900

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 1966 — 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: 1.62% ✓
• Cap rate: 13.31%
• Cash-on-cash: 25.05%
• DSCR: 2.11
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.45% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.96×
• Total profit: $124,906
• Equity at exit: $69,318

10-year hold

• IRR: 32.6%
• Equity multiple: 4.47×
• Total profit: $451,205
• Equity at exit: $40,196

Cash invested: $130,172 (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 99577

• Home prices YoY: -12.5%
• Rents YoY: 6.5%
• Active inventory: 242
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $7,525 medium
• Mortgage (P&I): −$2,438
• Tax from tax record: −$595 /mo · $7,144/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,580
• Net cashflow: $2,718

Break-even live

Break-even rent $4,085

Max offer price $464,900

Occupancy floor 59%

Sensitivity live

Price	-10% $2,981	-5% $2,849	+0% $2,718	+5% $2,586	+10% $2,455
Rent	-10% $2,123	-5% $2,420	+0% $2,718	+5% $3,015	+10% $3,312
Rate	-1.0pp $2,952	-0.5pp $2,836	base $2,718	+0.5pp $2,597	+1.0pp $2,475

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,524
Total (4 units)			$7,525

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: $116,225
• Closing costs: $13,947
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   remarks 683-char remark
2. 2026-06-01
   listed $464,900 Pending 1 DOM

ⓘ 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: $7,144 · $595/mo
• Projected year-2 tax: $7,144 · $595/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: $90,300
• − Mortgage interest: −$26,042
• − Property taxes: −$7,144
• − Insurance: −$2,324
• − Repairs & maintenance: −$7,224
• − Management: −$7,224
• − Depreciation: −$13,524
• Taxable income: $26,818
• Est. tax owed @ 24.0%: −$6,436
• After-tax cash flow: $26,176/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): 28,477
• Household income: $136,900
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 315.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 10% Hispanic / Latino 6% Asian 3% Black 3% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 3% Korean 1% Tagalog/Filipino 1%

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: ▼ -36.27%
• Current HPI: 254.3511
• Rent YoY: ▲ 6.45%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Property tax history

+3.0%/yr

Latest (2025): $7,144 · -0.6% YoY. Source: county tax records.