7241 Karluk St · Utqiaġvik, AK 99723

$224,000

3 bd · 2.0 ba · 1,728 sqft · SingleFamily public records · 120 Days on market

Built 1999 4,510 sqft lot $130/sqft · 38% below area Est $361k · 38% under ↓ 20% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +8.3/10.0
• Cash flow +6.4/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.0/10.0
• DSCR +0.7/10.0

Listing remarks MLS

PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

Key facts

• Arctic entry
• Vaulted ceilings
• 4,510 sq ft lot

Tags

• OPEN KITCHEN LIVING LAYOUT
• VAULTED CEILINGS
• ARCTIC ENTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $-384 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (30.3% below list).
• Recommended offer: $156k (30.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• North Slope Borough School District (rural): math 7% / reading 9% proficiency, ranked #16 of 21 in AK (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fred Ipalook Elementary (math 8% / reading 12%, grade F, #153 of 156 statewide, top 100%, 539 students, 29% FRL); Eben Hopson Middle School (math 8% / reading 22%, grade F, #33 of 36 statewide, top 94%, 247 students, 35% FRL); Barrow High School (math 5% / reading 15%, grade F, #58 of 61 statewide, top 98%, 276 students, 29% FRL).
• Market conditions: 2 active listings in the ZIP; 8 units permitted in North Slope Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $15k appreciation (6.5% local appreciation)).
• North Slope County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $56k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $156,167 (30.3% 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 120 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.70% ✗
• Cap rate: 4.24%
• Cash-on-cash: -7.34%
• DSCR: 0.67
• GRM: 12.0

CMA / ARV

• ARV (median comp): $361,433
• List price: $224,000
• Delta: -38.02%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

6.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.75×
• Total profit: $47,060
• Equity at exit: $147,993

10-year hold

• IRR: 11.8%
• Equity multiple: 3.49×
• Total profit: $156,104
• Equity at exit: $274,801

Cash invested: $62,720 (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 99723

• Home prices YoY: 3.6%
• Active inventory: 2
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,562 medium
• Mortgage (P&I): −$1,175
• Tax from tax record: −$349 /mo · $4,191/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-384

Break-even live

Break-even rent $2,047

Max offer price $156,250

Occupancy floor —

Sensitivity live

Price	-10% $-257	-5% $-320	+0% $-384	+5% $-447	+10% $-510
Rent	-10% $-507	-5% $-445	+0% $-384	+5% $-322	+10% $-260
Rate	-1.0pp $-271	-0.5pp $-327	base $-384	+0.5pp $-442	+1.0pp $-501

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-15
   price $224,000 196-char remark

   Show marketing remark (196 chars)

   PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

2. 2026-04-16
   price $252,000 196-char remark

   Show marketing remark (196 chars)

   PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

3. 2026-02-11
   status Active 196-char remark

   Show marketing remark (196 chars)

   PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

4. 2025-12-05
   status Pending 196-char remark

   Show marketing remark (196 chars)

   PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

5. 2025-11-14
   listed $280,000 Active 196-char remark

   Show marketing remark (196 chars)

   PRICE REDUCED! Two Story 3BR/2BA home w/open kitchen/living layout. Vaulted Ceilings and Fireplace. Arctic Entry. Please make an appointment with a Real Estate Agent/Broker of your choice to view.

ⓘ 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: $4,191 · $349/mo
• Projected year-2 tax: $4,191 · $349/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 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $18,740
• − Mortgage interest: −$12,547
• − Property taxes: −$4,191
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$6,516
• Taxable loss: −$8,633
• Est. tax savings @ 24.0%: +$2,072
• After-tax cash flow: $-2,530/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: North Slope Borough School District
• NCES district ID: 0200610
• Math proficiency: 7% ▼ -8.00%
• Reading proficiency: 9% ▼ -3.00%
• Median HH income: $71,540
• Composite: 10.02/100
• National rank: #9808
• State rank: #16 of 21 in AK

Livability — Utqiaġvik

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Utqiaġvik, AK
• City population: 4,855
• Population (ZIP): 4,855

Population outlook (North Slope County) Hauer SSP2

• Today (2025): 10,558 people
• By 2030: 11,135 · +5.5%
• By 2040: 11,994 · +13.6%
• By 2050: 12,567 · +19.0%
• By 2075: 13,027 · +23.4%
• By 2100: 11,810 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.97)
• Race & ethnicity: Native American 54% Two or more races 15% White 14% Hispanic / Latino 8% Asian 8% Pacific Islander 3% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Portuguese 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 53% English-only · Other Asian/Pacific 5% Tagalog/Filipino 4% Spanish 3%

Political lean MEDSL · North Slope

• 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: ▲ 6.50%
• Current HPI: 185.9086
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $224,000 AKMLS
• 2026-04-16 Price Changed $252,000 AKMLS
• 2026-02-11 Relisted — AKMLS
• 2025-12-05 Pending — AKMLS
• 2025-11-14 Listed $280,000 AKMLS

Property tax history

+6.0%/yr

Latest (2024): $4,191 · +41.6% YoY. Source: county tax records.