1452 Lacey St · Fairbanks, AK 99701

$85,000

3 bd · 2.0 ba · 1,052 sqft · SingleFamily public records · 41 Days on market

Built 1956 6,840 sqft lot $81/sqft · 63% below area

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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
• Schools +3.6/10.0
• Rent growth +2.9/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Older well cared for Fairbanks home, on wood crib foundation, home has been a rental for the last 15 years, generally rents for $1100-$1250 a month plus utilities. Upgrades over the past decade, new roof, furnace. updated kitchen cabinets and appliances, and flooring. Sits on a large lot with alley access in the back, no FHA or VA financing, best options for purchase would be cash, Rehab (foundation), AHFC non conforming.

Key facts

• Back yard
• Cushman street
• Central location

Tags

• CENTRAL LOCATION
• BACK YARD
• CUSHMAN STREET

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residential property; Residential property
• Construction: Designed for multi-family residential zoning
• Exterior features: Metal roof

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.7% vs local median 4.9% in Fairbanks — 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 57/100 on livability (#95 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime F, amenities F, commute F.
• Fairbanks North Star Borough School District (urban): math 33% / reading 45% proficiency, ranked #10 of 21 in AK (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anne Wien Elementary (math 17% / reading 32%, grade F, #122 of 156 statewide, top 81%, 380 students, 45% FRL); Ryan Middle School (math 25% / reading 33%, grade F, #28 of 36 statewide, top 77%, 543 students, 47% FRL); Lathrop High School (math 32% / reading 42%, grade F, #24 of 61 statewide, top 42%, 886 students, 36% FRL) — zoned schools average 43% FRL vs 27% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.57% ✓
• Cap rate: 22.75%
• Cash-on-cash: 58.77%
• DSCR: 3.61
• GRM: 3.2

CMA / ARV

• ARV (median comp): $228,879
• List price: $85,000
• Delta: -62.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
665 10th Ave #206	0.38mi	2/1.0 (-1)	1,095 (+4%)	4mo	$239,500	$219	63
305 Kody Dr	0.60mi	2/2.0 (-1)	1,020 (-3%)	9mo	$265,000	$260	54
624 Slater Dr	0.73mi	3/2.0	1,144 (+9%)	0mo	$359,900	$315	51
1111 Barnette St	0.36mi	2/2.0 (-1)	936 (-11%)	18mo	$250,000	$267	45
324 6th Ave	0.51mi	3/1.0	1,196 (+14%)	6mo	$189,900	$159	45
723 9th Ave	0.50mi	4/1.0 (+1)	1,000 (-5%)	19mo	$239,900	$240	44
217 Slater Dr	0.57mi	3/1.0	950 (-10%)	11mo	$275,000	$289	44
2227 Turner St	0.59mi	2/2.0 (-1)	1,188 (+13%)	3mo	$180,000	$152	44
2419 Mercier St	0.70mi	3/1.0	1,092 (+4%)	18mo	$274,900	$252	42
917 24th Ave	0.68mi	3/1.0	1,176 (+12%)	4mo	$245,000	$208	41
724 Twenty-first Ave	0.44mi	2/1.0 (-1)	1,184 (+12%)	14mo	$165,000	$139	38
2208 Gillam Way	0.65mi	2/1.0 (-1)	960 (-9%)	23mo	$225,000	$234	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.62% rent growth · sell at horizon

5-year hold

• IRR: 55.8%
• Equity multiple: 3.42×
• Total profit: $57,484
• Equity at exit: $12,674

10-year hold

• IRR: 60.3%
• Equity multiple: 6.62×
• Total profit: $133,758
• Equity at exit: $7,349

Cash invested: $23,800 (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 99701

• Home prices YoY: -19.4%
• Rents YoY: 1.6%
• Active inventory: 65
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,189 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,166

Break-even live

Break-even rent $713

Max offer price $85,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,214	-5% $1,190	+0% $1,166	+5% $1,142	+10% $1,117
Rent	-10% $993	-5% $1,079	+0% $1,166	+5% $1,252	+10% $1,338
Rate	-1.0pp $1,208	-0.5pp $1,187	base $1,166	+0.5pp $1,144	+1.0pp $1,121

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 4th Ave Fairbanks, AK	2.0	1.0	1048	$1,700	$1.62	44d	1	0.74mi
2803 Wilson St Apt 4 Fairbanks, AK	3.0	1.0	1000	$2,450	$2.45	44d	1	1.07mi

Listing history 21 events

1. 2026-06-21
   days on market $85,000 Active 41 DOM
2. 2026-06-19
   days on market $85,000 Active 39 DOM
3. 2026-06-18
   days on market $85,000 Active 38 DOM
4. 2026-06-17
   days on market $85,000 Active 37 DOM
5. 2026-06-16
   days on market $85,000 Active 36 DOM
6. 2026-06-15
   days on market $85,000 Active 35 DOM
7. 2026-06-14
   days on market $85,000 Active 33 DOM
8. 2026-06-13
   days on market $85,000 Active 32 DOM
9. 2026-06-10
   days on market $85,000 Active 30 DOM
10. 2026-06-09
    days on market $85,000 Active 29 DOM
11. 2026-06-08
    days on market $85,000 Active 28 DOM
12. 2026-06-05
    days on market $85,000 Active 24 DOM
13. 2026-06-03
    days on market $85,000 Active 23 DOM
14. 2026-06-02
    days on market $85,000 Active 22 DOM
15. 2026-06-01
    days on market $85,000 Active 21 DOM
16. 2026-05-31
    days on market $85,000 Active 20 DOM
17. 2026-05-30
    days on market $85,000 Active 19 DOM
18. 2026-05-11
    listed $85,000 Active 193-char remark
19. 2018-01-19
    soldstatus 425-char remark

    Show marketing remark (425 chars)

    Older well cared for Fairbanks home, on wood crib foundation, home has been a rental for the last 15 years, generally rents for $1100-$1250 a month plus utilities. Upgrades over the past decade, new roof, furnace. updated kitchen cabinets and appliances, and flooring. Sits on a large lot with alley access in the back, no FHA or VA financing, best options for purchase would be cash, Rehab (foundation), AHFC non conforming.

20. 2018-01-19
    soldstatus

    Show marketing remark (425 chars)

    Older well cared for Fairbanks home, on wood crib foundation, home has been a rental for the last 15 years, generally rents for $1100-$1250 a month plus utilities. Upgrades over the past decade, new roof, furnace. updated kitchen cabinets and appliances, and flooring. Sits on a large lot with alley access in the back, no FHA or VA financing, best options for purchase would be cash, Rehab (foundation), AHFC non conforming.

21. 2017-12-18
    listed $71,000 425-char remark

    Show marketing remark (425 chars)

    Older well cared for Fairbanks home, on wood crib foundation, home has been a rental for the last 15 years, generally rents for $1100-$1250 a month plus utilities. Upgrades over the past decade, new roof, furnace. updated kitchen cabinets and appliances, and flooring. Sits on a large lot with alley access in the back, no FHA or VA financing, best options for purchase would be cash, Rehab (foundation), AHFC non conforming.

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $999 · $83/mo
• Expected delta: +$12/yr (+$1/mo · 1.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $26,263
• − Mortgage interest: −$4,761
• − Property taxes: −$987
• − Insurance: −$425
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − Depreciation: −$2,473
• Taxable income: $13,415
• Est. tax owed @ 24.0%: −$3,220
• After-tax cash flow: $10,767/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: Fairbanks North Star Borough School District
• NCES district ID: 0200600
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $69,697
• Composite: 35.5/100
• National rank: #4915
• State rank: #10 of 21 in AK

Livability — Fairbanks

• Score: 57/100
• State rank: #95
• US rank: #21394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairbanks, AK
• County: Fairbanks North Star Borough · 69,381 people
• City population: 47,612
• Metro: Fairbanks, AK
• Population (ZIP): 18,061
• Household income: $75,668
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 652.0

Population outlook (Fairbanks North Star County) Hauer SSP2

• Today (2025): 101,607 people
• By 2030: 102,796 · +1.2%
• By 2040: 104,748 · +3.1%
• By 2050: 107,598 · +5.9%
• By 2075: 118,829 · +16.9%
• By 2100: 127,151 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 59% Two or more races 14% Native American 12% Hispanic / Latino 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 86% English-only · Spanish 4% Korean 2% Tagalog/Filipino 2%

Political lean MEDSL · Fairbanks North Star

• 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: ▼ -37.70%
• Current HPI: 156.1921
• Rent YoY: ▲ 1.62%
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+19.7% since first listed

4 events — show timeline

• 2026-05-11 Listed $85,000 GFBR
• 2018-01-19 Sold (Public Records) — Public Records
• 2018-01-19 Sold (MLS) — GFBR
• 2017-12-18 Listed $71,000 GFBR

Property tax history

-3.6%/yr

Latest (2025): $987 · -15.9% YoY. Source: county tax records.