19823 Tenada Ave

Anchorage, AK 99567

$324,900B-

3 bd · 1.5 ba · 1,568 sqft · Built 1962 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,523/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$740
• Net cashflow: $807/mo
• Annual: $9,686/yr
• Cap rate: 9.27%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• 1% rule: 1.08%
• Cash to close: $90,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $325k.
• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• Zoned schools: Birchwood Abc Elementary (math 57% / reading 57%, grade C+, #25 of 156 statewide, top 18%, 205 students, 18% FRL); Mirror Lake Middle School (math 39% / reading 53%, grade D+, #10 of 36 statewide, top 26%, 563 students, 21% FRL); Chugiak High School (math 42% / reading 42%, grade F, #17 of 61 statewide, top 32%, 905 students, 19% FRL) — zoned schools average 20% FRL vs 38% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 93 active listings in the ZIP; 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 9.3% 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.

Questions for listing agent

• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.
• 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.
• 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.