430 Schodde St · Anchorage, AK 99508

$485,000

8 bd · 4.0 ba · 3,264 sqft · MultiFamily public records · 29 Days on market

Built 1972 10,125 sqft lot Est $503k · at est.

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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 +13.2/30.0
• ARV discount +9.1/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Fully Occupied Four Plex on a spacious corner lot at the end of the street! Two units (3 & 4) were remodeled with new kitchens, paint, and flooring in 2025. Unit 2 also has new paint and flooring. There are also locked storage closets for each unit provided. Great rental history. Partially fenced, private yard. 4 dedicated parking spaces as well as street parking. Shared coin op laundry. Great investment or Owner Occupant opportunity!

Key facts

• Remodeled kitchens
• Spacious corner lot
• Private yard

Tags

• SPACIOUS CORNER LOT
• REMODELED KITCHENS
• PRIVATE YARD
• DEDICATED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $485k.

Deal economics

• At list price, monthly cash flow is $-12 ($-140/yr) — negative. Per door: $-6/mo.
• To cash-flow at today's rent, offer at most $483k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $403k (16.9% below list).
• Recommended offer: $403k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Muldoon Elementary (math 17% / reading 17%, grade F, #139 of 156 statewide, top 92%, 466 students, 100% FRL); Clark Middle School (math 7% / reading 22%, grade F, #35 of 36 statewide, top 97%, 835 students, 100% FRL) — zoned schools average 100% FRL vs 38% district-wide (62 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 40% district-wide (-24 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; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $4,028/mo this rent would consume 61% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 33y 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.

Recommended offer $402,800 (16.9% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $502,656
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Taylor St	0.16mi	8/4.0	2,992 (-8%)	3mo	$475,000	$159	76
605 Mumford St	0.23mi	8/4.0	3,500 (+7%)	3mo	$539,900	$154	75
617 N Flower St	0.48mi	8/4.0	3,456 (+6%)	2mo	$620,000	$179	66
218 N Park St	0.57mi	8/4.0	3,271 (+0%)	20mo	$515,000	$157	56
740 N Bragaw St	0.42mi	9/4.0 (+1)	3,560 (+9%)	6mo	$474,000	$133	56
314 Flower St	0.67mi	8/4.0	3,360 (+3%)	12mo	$615,000	$183	54
617 N Flower St	0.48mi	8/4.0	3,456 (+6%)	22mo	$179,900	$52	50
241 N Park St	0.60mi	8/3.0	3,150 (-4%)	22mo	$235,000	$75	44
4306 McPhee Ave	0.70mi	8/4.0	3,536 (+8%)	19mo	$530,000	$150	37

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.47×
• Total profit: $-71,608
• Equity at exit: $72,315

10-year hold

• IRR: -3.1%
• Equity multiple: 0.78×
• Total profit: $-30,360
• Equity at exit: $41,934

Cash invested: $135,800 (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 99508

• Rents YoY: 4.9%
• Active inventory: 147
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $4,028 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$448 /mo · $5,380/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $-12

Break-even live

Break-even rent $4,043

Max offer price $482,940

Occupancy floor 95%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,028
Total (2 units)			$4,028

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-04-07
   status Pending
2. 2026-03-25
   price $485,000
3. 2026-03-13
   price $509,000
4. 2026-03-13
   status Active
5. 2026-03-13
   price $495,000
6. 2026-02-25
   status Pending
7. 2026-02-20
   listed $509,000 Active
8. 2022-07-01
   status Pending
9. 2022-06-16
   listed $399,000 Active
10. 2016-09-09
    soldstatus
11. 2016-01-02
    listed $366,900
12. 2013-07-10
    soldstatus
13. 2009-03-12
    listed $218,900
14. 2007-03-26
    listed $299,900
15. 2006-05-18
    listed $369,000
16. 2004-07-13
    listed $298,500
17. 2001-05-20
    listed $179,000
18. 1993-03-23
    listed $129,500

ⓘ 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: $5,380 · $448/mo
• Projected year-2 tax: $5,576 · $465/mo
• Expected delta: +$196/yr (+$16/mo · 3.6%)

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

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: $48,336
• − Mortgage interest: −$27,168
• − Property taxes: −$5,380
• − Insurance: −$2,425
• − Repairs & maintenance: −$3,867
• − Management: −$3,867
• − Depreciation: −$14,109
• Taxable loss: −$8,479
• Est. tax savings @ 24.0%: +$2,035
• After-tax cash flow: $1,895/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: 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

+274.5% since first listed

18 events — show timeline

• 2026-04-07 Pending — AKMLS
• 2026-03-25 Price Changed $485,000 AKMLS
• 2026-03-13 Price Changed $509,000 AKMLS
• 2026-03-13 Relisted — AKMLS
• 2026-03-13 Price Changed $495,000 AKMLS
• 2026-02-25 Pending — AKMLS
• 2026-02-20 Listed $509,000 AKMLS
• 2022-07-01 Pending — AKMLS
• 2022-06-16 Listed $399,000 AKMLS
• 2016-09-09 Sold (Public Records) — Public Records
• 2016-01-02 Listed $366,900 AKMLS
• 2013-07-10 Sold (Public Records) — Public Records
• 2009-03-12 Listed $218,900 AKMLS
• 2007-03-26 Listed $299,900 AKMLS
• 2006-05-18 Listed $369,000 AKMLS
• 2004-07-13 Listed $298,500 AKMLS
• 2001-05-20 Listed $179,000 AKMLS
• 1993-03-23 Listed $129,500 AKMLS

Property tax history

+1.2%/yr

Latest (2025): $5,380 · +2.1% YoY. Source: county tax records.