5687 Denali St Unit A-B · Anchorage, AK 99518

$230,000

2 bd · 2.0 ba · 796 sqft · Condo · 28 Days on market

Built 2002 Good condition $289/sqft · 8% below area Est $249k · 8% under $340/mo HOA · 19% of rent

---

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).

• ARV discount +11.0/15.0
• Appreciation +8.1/10.0
• Cash flow +5.2/30.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Well maintained and move in ready condo in Hanson Square. This 2 bedroom, 2 bath home offers privacy, a spacious living area with a cozy fireplace, and a deck off the main living area. Enjoy ample storage and excellent southern exposure, providing natural light throughout.

Key facts

• $340 HOA
• Built 2002
• Listed 28 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-521 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (32.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (22.5% below list).
• Recommended offer: $155k (32.8% below list) — sets the bar for cash-flow.

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: 49 active listings in the ZIP; 21 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

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (6.2% local appreciation)).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask is 33% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $154,541 (32.8% 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 3.57%
• Cash-on-cash: -9.72%
• DSCR: 0.57
• GRM: 10.8

CMA / ARV

• ARV (median comp): $249,320
• List price: $230,000
• Delta: -7.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.56×
• Total profit: $36,097
• Equity at exit: $147,426

10-year hold

• IRR: 9.8%
• Equity multiple: 3.05×
• Total profit: $131,972
• Equity at exit: $269,834

Cash invested: $64,400 (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 99518

• Home prices YoY: 2.1%
• Active inventory: 49
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,782 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$340
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-521

Break-even live

Break-even rent $2,442

Max offer price $154,541

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5911 Denali St Unit B2 Anchorage, AK	3.0	1.5	1100	$1,700	$1.55	23d	1	0.12mi
5215 Mockingbird Dr Anchorage, AK	2.0	1.0	642	$1,700	$2.65	14d	10	0.77mi
4631 Juneau St Anchorage, AK	1.0	1.0	765	$1,375	$1.80	23d	1	0.79mi
4611 Juneau St Anchorage, AK	1.0–2.0	1.0	800	$1,750	$2.19	44d	1	0.82mi
625 W 46th Ave Anchorage, AK	1.0–2.0	1.0	950	$1,640	$1.73	14d	7	0.94mi
4255 Old Seward Hwy Anchorage, AK	1.0	1.0	550	$1,200	$2.18	14d	1	0.97mi
7371 Huntsmen Cir Unit 16A Anchorage, AK	2.0	2.0	741	$1,995	$2.69	44d	1	1.07mi
2134 E 56th Ave Anchorage, AK	1.0–2.0	1.0–2.0	1015	$2,839	$2.80	14d	8	1.13mi
7538 Foxridge Way Unit 8H8H Anchorage, AK	2.0	2.0	741	$2,500	$3.37	14d	1	1.14mi
2237 E 56th Ave Anchorage, AK	1.0–2.0	1.0–2.0	681	$1,819	$2.67	21d	6	1.20mi
2230 E 52nd Ave #4 Anchorage, AK	2.0	1.0	1015	$1,950	$1.92	44d	1	1.25mi
5360 Lake Otis Pkwy Unit 04 Anchorage, AK	2.0	1.0	850	$1,695	$1.99	23d	1	1.28mi
701 E 78th Ave Unit 705 Anchorage, AK	2.0	2.0	1020	$2,450	$2.40	14d	1	1.29mi
5300 Lake Otis Pkwy Unit 11 Anchorage, AK	2.0	1.0	850	$1,695	$1.99	14d	1	1.31mi
7310 Chugach Meadows Loop Anchorage, AK	2.0	2.0	1028	$2,399	$2.33	21d	1	1.32mi
1869 E Tudor Rd Unit D203 Anchorage, AK	2.0	1.5	1038	$1,900	$1.83	44d	1	1.34mi
7330 Meadow St Anchorage, AK	2.0	2.0	1028	$2,399	$2.33	23d	1	1.35mi
1011 W 76th Ave Unit 12 Anchorage, AK	1.0	1.0	600	$1,150	$1.92	44d	1	1.36mi
3804 Indiana St Anchorage, AK	2.0	1.5	824	$1,695	$2.06	23d	1	1.39mi
1509 W 45th Ave #4 Anchorage, AK	2.0	1.0	1000	$1,450	$1.45	44d	1	1.41mi
3321 Eureka St Anchorage, AK	1.0	1.0	387	$1,280	$3.31	14d	4	1.50mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-06
   status Pending 273-char remark

   Show marketing remark (273 chars)

   Well maintained and move in ready condo in Hanson Square. This 2 bedroom, 2 bath home offers privacy, a spacious living area with a cozy fireplace, and a deck off the main living area. Enjoy ample storage and excellent southern exposure, providing natural light throughout.

2. 2026-04-08
   status Active 273-char remark

   Show marketing remark (273 chars)

   Well maintained and move in ready condo in Hanson Square. This 2 bedroom, 2 bath home offers privacy, a spacious living area with a cozy fireplace, and a deck off the main living area. Enjoy ample storage and excellent southern exposure, providing natural light throughout.

3. 2022-03-07
   status Pending
4. 2022-02-25
   listed $172,500 Active
5. 2012-08-27
   listed $155,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,387
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − HOA: −$4,080
• − Depreciation: −$6,691
• Taxable loss: −$10,289
• Est. tax savings @ 24.0%: +$2,469
• After-tax cash flow: $-3,788/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 75/100 Cosmetic rehab

This well-maintained and move-in-ready condo in Hanson Square offers privacy and ample storage, with minor cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Living room carpet — Significant wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Both Replace worn living room carpet — Fresh carpet enhances comfort and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Living room carpet · Significant wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Replace worn living room carpet — Fresh carpet enhances comfort and appearance ↑

ⓘ 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): 9,764
• Household income: $93,995
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 385.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 56% Two or more races 17% Hispanic / Latino 12% Black 7% Native American 5% Asian 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 4% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 5% Tagalog/Filipino 2% Korean 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: ▲ 6.20%
• Current HPI: 294.8217
• Rent YoY: —
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+11.3% since first listed

5 events — show timeline

• 2026-05-06 Pending — AKMLS
• 2026-04-08 Relisted — AKMLS
• 2022-03-07 Pending — AKMLS
• 2022-02-25 Listed $172,500 AKMLS
• 2012-08-27 Listed $155,000 AKMLS