35233 Kaltag Loop · Funny River, AK 99669

$125,000

3 bd · 1.0 ba · 794 sqft · Other public records · 22 Days on market

Built 2010 1.01 ac lot ↓ 32% since listing

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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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1.01 acre parcel with 794 sq ft cabin on Kenai River Slough on Dow Island. Dirt road to cabin. Access winter & spring via vehicle. Propane on demand and a toilet.

Key facts

• Propane on demand
• Kenai river slough
• Dirt road to cabin

Tags

• 1 ACRE PARCEL
• KENAI RIVER SLOUGH
• DIRT ROAD TO CABIN
• ACCESS WINTER SPRING
• PROPANE ON DEMAND

Property features AI

Exterior

• Parking: No garage; No carport
• Utilities: No sewer (none listed)
• Home design: Detached home; Wood-frame construction; Built in 2010
• Construction: Wood frame construction; Built in 2010
• Exterior features: Waterfront property; Approximately 1.01-acre lot

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Residential property

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#103 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A-, cost of living B+; Watch: health & safety C-, employment D, schools F.
• Market conditions: 227 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $6,504
• Equity at exit: $18,638

10-year hold

• IRR: 14.2%
• Equity multiple: 2.14×
• Total profit: $40,040
• Equity at exit: $10,808

Cash invested: $35,000 (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 99669

• Home prices YoY: -26.1%
• Active inventory: 227
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,520 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$72 /mo · $867/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $421

Break-even live

Break-even rent $987

Max offer price $125,000

Occupancy floor 67%

Sensitivity live

Price	-10% $491	-5% $456	+0% $421	+5% $385	+10% $350
Rent	-10% $301	-5% $361	+0% $421	+5% $481	+10% $541
Rate	-1.0pp $484	-0.5pp $452	base $421	+0.5pp $388	+1.0pp $355

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $125,000 Active 22 DOM
2. 2026-06-18
   days on market $125,000 Active 21 DOM
3. 2026-06-17
   days on market $125,000 Active 20 DOM
4. 2026-06-16
   days on market $125,000 Active 19 DOM
5. 2026-06-15
   days on market $125,000 Active 18 DOM
6. 2026-06-14
   days on market $125,000 Active 16 DOM
7. 2026-06-12
   days on market $125,000 Active 15 DOM
8. 2026-06-09
   days on market $125,000 Active 12 DOM
9. 2026-06-08
   days on market $125,000 Active 11 DOM
10. 2026-06-07
    days on market $125,000 Active 10 DOM
11. 2026-06-07
    days on market $125,000 Active 9 DOM
12. 2026-06-04
    days on market $125,000 Active 6 DOM
13. 2026-06-02
    days on market $125,000 Active 5 DOM
14. 2026-06-01
    days on market $125,000 Active 4 DOM
15. 2026-05-31
    days on market $125,000 Active 3 DOM
16. 2026-05-31
    days on market $125,000 Active 2 DOM
17. 2026-05-28
    listed $125,000 Active
18. 2026-04-13
    listed $125,000 Active 166-char remark

    Show marketing remark (166 chars)

    1.01 acre parcel with 794 sq ft cabin on Kenai River Slough on Dow Island. Dirt road to cabin. Access winter & spring via vehicle. Propane on demand and a toilet.

19. 2020-02-06
    listed $185,000
20. 2009-07-30
    soldstatus

ⓘ 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: $867 · $72/mo
• Projected year-2 tax: $1,177 · $98/mo
• Expected delta: +$310/yr (+$26/mo · 35.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $18,234
• − Mortgage interest: −$7,002
• − Property taxes: −$867
• − Insurance: −$625
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$3,636
• Taxable income: $3,187
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $4,282/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)

No district data.

Livability — Funny River

• Score: 58/100
• State rank: #103
• US rank: #21328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Funny River, AK
• Population (ZIP): 15,722

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Native American 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 4% Italian 4% Romanian 4%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Kenai Peninsula

• 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: ▼ -61.58%
• Current HPI: 174.4233
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-32.4% since first listed

4 events — show timeline

• 2026-05-28 Listed $125,000 AKMLS
• 2026-04-13 Listed $125,000 AKMLS
• 2020-02-06 Listed $185,000 AKMLS
• 2009-07-30 Sold (Public Records) — Public Records

Property tax history

+8.2%/yr

Latest (2025): $867 · -7.3% YoY. Source: county tax records.