3240 Penland Pkwy #361 · Anchorage, AK 99508

$100,000

3 bd · 2.0 ba · 1,400 sqft · Manufactured · 20 Days on market

Built 1983 Good condition $71/sqft · 124% above area $678/mo HOA · 35% 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 +23.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Extensively remodeled 3BR, 2BA mobile home featuring an open-concept layout with updated kitchen, dining, and living areas. Improvements include new flooring, drywall, paint, windows, furnace, appliances, and remodeled bathrooms. Roof recently reseal-coated. Covered deck, handicap ramp, large mudroom, shed, and more. Move-in ready!

Key facts

• Covered deck
• Shed
• Large mudroom

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED KITCHEN
• REMODELED BATHROOMS
• COVERED DECK
• LARGE MUDROOM
• SHED

Property features AI

Finance

• Other: Living area approximately 1400
• HOA & community: Located in Penland Park Trailer Park; Monthly association fee of 678.00

Exterior

• Parking: No garage; No carport
• Utilities: Public sewer
• Home design: Mobile home; Built in 1983
• Construction: Membrane and metal roof; Other foundation
• Exterior features: Located in city limits; Landscaped lot; Paved road access

Interior

• Kitchen: Microwave
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Microwave; CO detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Airport Heights Elementary (math 17% / reading 27%, grade F, #128 of 156 statewide, top 86%, 261 students, 97% FRL); Central Middle School of Science (math 17% / reading 32%, grade F, #30 of 36 statewide, top 86%, 371 students, 80% FRL) — zoned schools average 88% FRL vs 38% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-17 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 fast (+4.9%/yr); 147 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $691 of loan paydown is wiped out by about $3k 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 + 4.9% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.96% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 4.3

CMA / ARV

• ARV (median comp): $44,630
• List price: $100,000
• Delta: 124.06%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-641
• Equity at exit: $14,910

10-year hold

• IRR: 12.4%
• Equity multiple: 2.14×
• Total profit: $31,955
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$678
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $178

Break-even live

Break-even rent $1,733

Max offer price $100,000

Occupancy floor 86%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 E 9th Ave Unit 5 Anchorage, AK	3.0	1.5	1200	$1,750	$1.46	43d	1	0.38mi
3926 E 3rd Ave #6 Anchorage, AK	3.0	1.5	1200	$2,000	$1.67	43d	1	0.63mi
4413 E 8th Ave Unit B Anchorage, AK	2.0	1.0	960	$1,400	$1.46	43d	1	0.67mi
4670 Reka Dr Unit G11 Anchorage, AK	2.0	1.5	926	$1,800	$1.94	43d	1	1.06mi
2045 Eastridge Dr Anchorage, AK	3.0	2.0	1861	$3,500	$1.88	23d	1	1.10mi
524 N Klevin St Unit B Anchorage, AK	2.0	1.0	1080	$1,700	$1.57	43d	1	1.14mi
617 N Flower St Anchorage, AK	2.0	1.0	920	$1,750	$1.90	43d	1	1.18mi
423 N Lane St #4 Anchorage, AK	3.0	1.0	980	$2,050	$2.09	23d	1	1.22mi
423 N Lane St Apt 1 Anchorage, AK	3.0	1.0	980	$2,000	$2.04	23d	1	1.22mi
1441 E 12th Ave Unit 1 Anchorage, AK	2.0	1.0	900	$1,495	$1.66	23d	1	1.26mi
816 N Bragaw St Unit 1 Anchorage, AK	2.0	1.0	950	$1,650	$1.74	43d	1	1.27mi
1515 Nelchina St Apt 4 Anchorage, AK	2.0	1.0	900	$1,500	$1.67	13d	1	1.34mi
1337 E 14th Ave Unit B Anchorage, AK	2.0	1.5	1000	$1,595	$1.59	43d	1	1.34mi
5201 Chena Ave #1 Anchorage, AK	3.0	1.0	1100	$1,350	$1.23	43d	1	1.35mi
814 N Bunn St Unit 4 Anchorage, AK	2.0	1.0	1100	$1,400	$1.27	13d	1	1.38mi
1526 Medfra St Unit 7 Anchorage, AK	2.0	1.0	900	$1,650	$1.83	23d	1	1.44mi
2230 Candy Pl Unit C Anchorage, AK	4.0	3.0	1800	$2,995	$1.66	23d	1	1.45mi
2230 Candy Pl Anchorage, AK	4.0	3.0	1800	$2,795	$1.55	13d	1	1.45mi
2432 Glacier St Unit A Anchorage, AK	3.0	2.0	1388	$2,850	$2.05	23d	1	1.47mi
1100 E 10th Ave Unit 2 Anchorage, AK	3.0	1.0	1000	$2,400	$2.40	23d	1	1.48mi
1225 Karluk St #1 Anchorage, AK	3.0	1.0	1200	$1,750	$1.46	43d	1	1.50mi

HOA detail

• Monthly dues: $678 · $8,136/yr

Listing history 3 events

1. 2026-05-06
   listed $100,000 Active 333-char remark
2. 2020-06-24
   status Pending
3. 2020-03-24
   listed $55,000 Active

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $23,502
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − HOA: −$8,136
• − Depreciation: −$2,909
• Taxable income: $1,095
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $1,875/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 · 12 photos

Good 80/100 Cosmetic rehab

This extensively remodeled 3BR, 2BA mobile home is move-in ready with updated kitchen, bathrooms, and flooring. The property is in good condition with minor maintenance needed.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value.
• Both Clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value. ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ 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): 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

+81.8% since first listed

4 events — show timeline

• 2026-05-27 Pending — AKMLS
• 2026-05-06 Listed $100,000 AKMLS
• 2020-06-24 Pending — AKMLS
• 2020-03-24 Listed $55,000 AKMLS