4216 San Roberto Ave

Anchorage, AK 99508

$1,095,000D

15 bd · 16.0 ba · 5,318 sqft · Built 1970 · MultiFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,564/mo
• Mortgage (P&I): −$5,742
• Tax + insurance: −$1,165
• HOA: −$0
• Vac / Maint / Mgmt: −$1,798
• Net cashflow: $-142/mo
• Annual: $-1,704/yr
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• 1% rule: 0.78%
• Cash to close: $306,600

Investor read

• This is a 5 × 3-bed/?-bath units multifamily listed at $1.09M.
• At list price, monthly cash flow is $-142 ($-2k/yr) — negative. Per door: $-28/mo.
• To cash-flow at today's rent, offer at most $1.07M (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $856k (21.8% below list).
• It's been on market 83 days — a 6% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $856k (21.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.
• 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: Rents rising fast (+4.9%/yr); 147 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 6.1% 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.
• At $8,564/mo this rent would consume 130% of the median local household income ($79k/yr) (locally 1248% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?