62091 Crossman Ridge Rd · Diamond Ridge, AK 99603

$170,000

3 bd · 1.0 ba · 181 sqft · Other public records · 100 Days on market

Built 1988 3.85 ac lot

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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).

• Cash flow +11.7/30.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Imagine having two cabins to rest when you're recreating in Homer's back woods. Snomobile and ATV-friendly retreat waiting for you to update and expand. Electricity is in the area, or keep the old cabin feel of off-grid living. Nearly 4 acres of serene land for you to mold into your very own.

Key facts

• Serene land
• Off-grid living
• 3.85 acre lot

Tags

• SNOMOBILE AND ATV-FRIENDLY
• OFF-GRID LIVING
• SERENE LAND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $-49 ($-587/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (28.0% below list).
• Recommended offer: $122k (28.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#16 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Homer Elementary (math 42% / reading 62%, grade C-, #43 of 156 statewide, top 32%, 216 students, 37% FRL); Homer Middle School (math 47% / reading 62%, grade B-, #1 of 36 statewide, top 3%, 178 students, 33% FRL); Homer High School (math 47% / reading 57%, grade D+, #8 of 61 statewide, top 13%, 368 students, 24% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 244 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 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 $5k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $122,426 (28.0% 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. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.72% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-30,739
• Equity at exit: $25,348

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-31,097
• Equity at exit: $14,698

Cash invested: $47,600 (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 99603

• Home prices YoY: -24.2%
• Active inventory: 244
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$54 /mo · $645/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-49

Break-even live

Break-even rent $1,286

Max offer price $161,366

Occupancy floor 99%

Sensitivity live

Price	-10% $47	-5% $-1	+0% $-49	+5% $-97	+10% $-145
Rent	-10% $-146	-5% $-97	+0% $-49	+5% $-1	+10% $48
Rate	-1.0pp $37	-0.5pp $-6	base $-49	+0.5pp $-93	+1.0pp $-138

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $170,000 Active 100 DOM
2. 2026-06-18
   days on market $170,000 Active 99 DOM
3. 2026-06-17
   days on market $170,000 Active 98 DOM
4. 2026-06-16
   days on market $170,000 Active 97 DOM
5. 2026-06-16
   price $170,000 Active 96 DOM
6. 2026-06-15
   days on market $180,000 Active 96 DOM
7. 2026-06-14
   days on market $180,000 Active 94 DOM
8. 2026-06-12
   days on market $180,000 Active 93 DOM
9. 2026-06-09
   days on market $180,000 Active 90 DOM
10. 2026-06-08
    days on market $180,000 Active 89 DOM
11. 2026-06-07
    days on market $180,000 Active 88 DOM
12. 2026-06-07
    days on market $180,000 Active 87 DOM
13. 2026-06-04
    days on market $180,000 Active 84 DOM
14. 2026-06-02
    days on market $180,000 Active 83 DOM
15. 2026-06-01
    days on market $180,000 Active 82 DOM
16. 2026-05-31
    days on market $180,000 Active 81 DOM
17. 2026-05-31
    days on market $180,000 Active 80 DOM
18. 2026-03-11
    listed $180,000 Active 293-char remark

    Show marketing remark (293 chars)

    Imagine having two cabins to rest when you're recreating in Homer's back woods. Snomobile and ATV-friendly retreat waiting for you to update and expand. Electricity is in the area, or keep the old cabin feel of off-grid living. Nearly 4 acres of serene land for you to mold into your very own.

ⓘ 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: $645 · $54/mo
• Projected year-2 tax: $1,334 · $111/mo
• Expected delta: +$689/yr (+$57/mo · 106.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $14,691
• − Mortgage interest: −$9,523
• − Property taxes: −$645
• − Insurance: −$850
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$4,945
• Taxable loss: −$3,622
• Est. tax savings @ 24.0%: +$869
• After-tax cash flow: $283/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: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Diamond Ridge

• Score: 71/100
• State rank: #16
• US rank: #7214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Diamond Ridge, AK
• Population (ZIP): 11,557

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Native American 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Scotch-Irish 5% Italian 4% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 89% English-only · Russian/Polish/Slavic 4% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Kenai Peninsula

• 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: ▼ -65.25%
• Current HPI: 204.3313
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-11 Listed $180,000 AKMLS

Property tax history

-3.0%/yr

Latest (2025): $645 · -6.2% YoY. Source: county tax records.