2400 Barrow St #202 · Anchorage, AK 99503

$110,000

1 bd · 1.0 ba · 602 sqft · Condo public records · 66 Days on market

Built 1965 $510/mo HOA · 38% 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 +7.5/15.0
• 1% rule +7.1/10.0
• Appreciation +6.5/10.0
• Cash flow +5.8/30.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0

Listing remarks

Cozy 1-bedroom, 1-bath condo in a prime Central Midtown location. Enjoy north-facing views toward downtown and a private balcony off the living room. Condo dues include all utilities incl. electricity & heat for added value and convenience. Coin up laundry in the building.

Key facts

• North-facing views
• Private balcony
• $510 HOA

Tags

• PRIVATE BALCONY
• NORTH-FACING VIEWS
• CENTRAL MIDTOWN LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (35.3% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $71k (35.3% 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.
• Zoned schools: North Star Elementary (math 12% / reading 17%, grade F, #146 of 156 statewide, top 95%, 391 students, 0% FRL); Romig Middle School (math 24% / reading 44%, grade F, #22 of 36 statewide, top 63%, 720 students, 37% FRL); West High School (math 32% / reading 27%, grade F, #39 of 61 statewide, top 65%, 1,763 students, 40% FRL).
• Zoned-school proficiency averages 26% at this address vs 40% district-wide (-14 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 (+2.3%/yr); 67 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $4k of equity ($761 loan paydown + $3k appreciation (3.1% local appreciation)).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 30y 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: HOA is 38% of rent.

Recommended offer $71,192 (35.3% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.21% ✓
• Cap rate: 3.90%
• Cash-on-cash: -8.56%
• DSCR: 0.62
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.1% appreciation · 2.28% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-785
• Equity at exit: $50,078

10-year hold

• IRR: 3.2%
• Equity multiple: 1.50×
• Total profit: $15,275
• Equity at exit: $77,659

Cash invested: $30,800 (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 99503

• Home prices YoY: 1.3%
• Rents YoY: 2.3%
• Active inventory: 67
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,335 high
• Mortgage (P&I): −$577
• Tax from tax record: −$142 /mo · $1,702/yr
• Insurance: −$46
• HOA: −$510
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-220

Break-even live

Break-even rent $1,613

Max offer price $71,192

Occupancy floor —

Sensitivity live

Price	-10% $-157	-5% $-189	+0% $-220	+5% $-251	+10% $-282
Rent	-10% $-325	-5% $-272	+0% $-220	+5% $-167	+10% $-114
Rate	-1.0pp $-164	-0.5pp $-192	base $-220	+0.5pp $-248	+1.0pp $-277

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2326 Cordova St Unit 1 5 Anchorage, AK	1.0	1.0	600	$1,500	$2.50	46d	1	0.08mi
518 E 22nd Ave #7 Anchorage, AK	1.0	1.0	589	$1,250	$2.12	46d	1	0.28mi
423 W 22nd Ave Anchorage, AK	1.0–2.0	1.0–2.0	794	$1,350	$1.70	16d	6	0.29mi
2225 Arctic Blvd Anchorage, AK	2.0	1.0	682	$1,460	$2.14	16d	6	0.50mi
201 E 16th Ave Anchorage, AK	2.0	1.0	626	$1,338	$2.14	16d	6	0.52mi
234 E 15th Ave Anchorage, AK	2.0	1.0	609	$1,342	$2.20	16d	6	0.58mi
540 Vista Glen Ct Apt 3 Anchorage, AK	1.0	1.0	600	$1,125	$1.88	46d	1	0.62mi
601 W 32nd Ave Anchorage, AK	1.0	1.0	487	$1,225	$2.51	46d	4	0.63mi
907 W 27th Ave Unit 3 Anchorage, AK	1.0	1.0	600	$1,275	$2.12	46d	1	0.64mi
915 W 27th Ave Anchorage, AK	2.0	1.0	570	$1,285	$2.25	16d	14	0.64mi
3321 Eureka St Anchorage, AK	1.0	1.0	387	$1,280	$3.31	16d	4	0.70mi
612 E 14th Ave Unit 22 Anchorage, AK	1.0	1.0	500	$1,050	$2.10	46d	1	0.73mi
1315 Cordova St Anchorage, AK	—	1.0	453	$975	$2.15	25d	1	0.73mi
1315 Cordova St Anchorage, AK	1.0	1.0	641	$1,100	$1.72	16d	1	0.73mi
1335 Hyder St Unit 2 Anchorage, AK	1.0	1.0	450	$1,095	$2.43	23d	1	0.83mi
1101 B St Anchorage, AK	1.0–2.0	1.0–2.0	800	$2,450	$3.06	16d	4	0.86mi
1336 W 23rd Ave Anchorage, AK	—	1.0	450	$995	$2.21	46d	1	0.89mi
524 E 11th Ave Anchorage, AK	1.0	1.0	745	$1,300	$1.74	16d	1	0.90mi
2201 Romig Pl Anchorage, AK	1.0	1.0	530	$1,500	$2.83	46d	1	0.92mi
1601 Medfra St Anchorage, AK	2.0	1.0–2.0	625	$1,338	$2.14	25d	10	0.97mi
1473 W 25th Ave Anchorage, AK	1.0	1.0	485	$1,290	$2.66	16d	3	1.02mi
1441 E 12th Ave Apt 2 Anchorage, AK	1.0	1.0	500	$1,395	$2.79	16d	1	1.21mi
3061 Lois Dr Anchorage, AK	1.0	1.0	567	$1,475	$2.60	25d	2	1.24mi
618 Gambell St Unit 33 Anchorage, AK	1.0	1.0	600	$1,300	$2.17	46d	1	1.24mi
618 Gambell St Unit 23 Anchorage, AK	1.0	1.0	600	$1,300	$2.17	25d	1	1.24mi
1000 W 8th Ave Anchorage, AK	1.0	1.0	528	$2,600	$4.92	46d	1	1.26mi
4255 Old Seward Hwy Anchorage, AK	1.0	1.0	550	$1,200	$2.18	16d	1	1.27mi
3051 Lois Dr #508 Anchorage, AK	1.0	1.0	580	$1,400	$2.41	46d	1	1.28mi
925 W 7th Ave Unit 415 Anchorage, AK	1.0	1.0	630	$1,350	$2.14	16d	1	1.31mi
337 E 4th Ave Anchorage, AK	1.0	1.0	678	$1,500	$2.21	46d	1	1.38mi
1110 W 6th Ave #302 Anchorage, AK	1.0	1.0	540	$2,500	$4.63	25d	1	1.42mi
540 L St Anchorage, AK	1.0–2.0	1.0–2.0	885	$2,600	$2.94	16d	3	1.44mi
3606 Oregon Dr Unit 5 Anchorage, AK	1.0	1.0	650	$1,425	$2.19	16d	1	1.47mi
201 Barrow St #305 Anchorage, AK	1.0	1.0	711	$2,800	$3.94	46d	1	1.47mi

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-16
   status Pending
2. 2026-02-07
   listed $110,000 Active
3. 2002-07-05
   soldstatus
4. 1996-07-27
   listed $48,000
5. 1993-10-01
   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: $1,702 · $142/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $16,023
• − Mortgage interest: −$6,162
• − Property taxes: −$1,702
• − Insurance: −$550
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − HOA: −$6,120
• − Depreciation: −$3,200
• Taxable loss: −$4,275
• Est. tax savings @ 24.0%: +$1,026
• After-tax cash flow: $-1,610/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): 12,964
• Household income: $76,144
• Rent vs Own: 68.2% rent · 31.8% own
• Severe rent burden: 747.0

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 0.78)
• Race & ethnicity: White 43% Asian 15% Native American 15% Two or more races 13% Hispanic / Latino 8% Black 8% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 75% English-only · Tagalog/Filipino 9% Spanish 6% Other Asian/Pacific 3%

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: ▲ 3.10%
• Current HPI: 238.2191
• Rent YoY: ▲ 2.28%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+129.2% since first listed

5 events — show timeline

• 2026-04-16 Pending — AKMLS
• 2026-02-07 Listed $110,000 AKMLS
• 2002-07-05 Sold (Public Records) — Public Records
• 1996-07-27 Listed $48,000 AKMLS
• 1993-10-01 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,702 · +44.2% YoY. Source: county tax records.