7996 N Tongass Hwy · Ketchikan, AK 99901

$775,000

3 bd · 2.0 ba · 2,452 sqft · MultiFamily public records · 135 Days on market

Built 1975 0.51 ac lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

Key facts

• Wooded surroundings
• Generous parking
• Secluded backyard

Tags

• ONE BEDROOM APARTMENT
• GENEROUS PARKING
• SECLUDED BACKYARD
• WOODED SURROUNDINGS
• WELCOMING ENTRY
• REFRESHED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $614k (20.8% below list).
• Recommended offer: $614k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.7% in Ketchikan — 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 76/100 on livability (#12 in AK, #3,743 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+, amenities F.
• Ketchikan Gateway Borough School District (town): math 39% / reading 44% proficiency, ranked #7 of 21 in AK (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Houghtaling Elementary (math 37% / reading 42%, grade F, #75 of 156 statewide, top 52%, 310 students, 59% FRL); Schoenbar Middle School (math 30% / reading 36%, grade F, #26 of 36 statewide, top 71%, 269 students, 40% FRL); Ketchikan High School (math 42% / reading 42%, grade F, #17 of 61 statewide, top 32%, 498 students, 28% FRL).
• Market conditions: 100 active listings in the ZIP; 73 units permitted in Ketchikan Gateway Borough in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Ketchikan Gateway County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $54k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $613,600 (20.8% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 10.5

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-110,437
• Equity at exit: $115,555

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-77,689
• Equity at exit: $67,008

Cash invested: $217,000 (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 99901

• Home prices YoY: -33.4%
• Active inventory: 100
• Price-to-rent: 36.8×

Monthly cashflow live

• Estimated rent: $6,136 medium
• Mortgage (P&I): −$4,064
• Tax from tax record: −$217 /mo · $2,601/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,289
• Net cashflow: $244

Break-even live

Break-even rent $5,828

Max offer price $775,000

Occupancy floor 91%

Sensitivity live

Price	-10% $682	-5% $463	+0% $244	+5% $24	+10% $-195
Rent	-10% $-241	-5% $1	+0% $244	+5% $486	+10% $728
Rate	-1.0pp $634	-0.5pp $441	base $244	+0.5pp $43	+1.0pp $-162

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,753
▸ 3× units	1	1	$4,383
Total (4 units)			$6,136

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $775,000 Active 135 DOM
2. 2026-06-19
   days on market $775,000 Active 133 DOM
3. 2026-06-18
   days on market $775,000 Active 132 DOM
4. 2026-06-17
   days on market $775,000 Active 131 DOM
5. 2026-06-16
   days on market $775,000 Active 130 DOM
6. 2026-06-15
   days on market $775,000 Active 129 DOM
7. 2026-06-14
   days on market $775,000 Active 127 DOM
8. 2026-06-12
   days on market $775,000 Active 126 DOM
9. 2026-06-09
   days on market $775,000 Active 123 DOM
10. 2026-06-08
    days on market $775,000 Active 122 DOM
11. 2026-06-07
    days on market $775,000 Active 121 DOM
12. 2026-06-04
    days on market $775,000 Active 117 DOM
13. 2026-06-02
    days on market $775,000 Active 116 DOM
14. 2026-06-01
    days on market $775,000 Active 115 DOM
15. 2026-05-31
    days on market $775,000 Active 114 DOM
16. 2026-05-31
    days on market $775,000 Active 113 DOM
17. 2026-04-20
    price $775,000 1183-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

18. 2026-04-20
    price $775,000 1190-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

19. 2026-03-13
    price $799,800 1183-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

20. 2026-03-13
    price $799,800 1190-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

21. 2026-02-06
    listed $829,000 Active 1183-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

22. 2026-02-06
    listed $829,000 Active 1190-char remark

    Show marketing remark (1190 chars)

    This north-end residence offers a three-bedroom main home plus an attached one-bedroom apartment. The property features generous parking, established landscaping, and a secluded backyard with wooded surroundings. The main living space includes two bathrooms and a welcoming entry that opens to an inviting living area and refreshed kitchen. Covered wraparound decking provides tons of outdoor space with harbor and water views. Kitchen has quartz courtertops, stainless appliances and ample storage. Durable luxury vinyl flooring runs throughout the main level. The primary suite includes a walk-in closet, private laundry, and en suite bath with dual vanities and a soaking tub. An additional bedroom and full bath complete the main level, while the upper floor offers a third bedroom. The lower-level apartment is well equipped with custom cabinetry, its own laundry, and a private covered deck. Additional features include a fenced yard, woodshed, storage room and a powered 16' x 16' outbuilding suitable for hobbies or more storage. The current owner has completed numerous essential repairs and updates, offering peace of mind and a truly move-in-ready home for the next owner.

23. 2025-06-04
    soldstatus Closed
24. 2025-06-04
    soldstatus
25. 2025-03-27
    listed $750,000 Active
26. 2020-04-29
    soldstatus
27. 2020-02-14
    listed $275,000

ⓘ 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: $2,601 · $217/mo
• Projected year-2 tax: $5,912 · $493/mo
• Expected delta: +$3,311/yr (+$276/mo · 127.3%)

ⓘ 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: $73,632
• − Mortgage interest: −$43,412
• − Property taxes: −$2,601
• − Insurance: −$3,875
• − Repairs & maintenance: −$5,891
• − Management: −$5,891
• − Depreciation: −$22,545
• Taxable loss: −$10,582
• Est. tax savings @ 24.0%: +$2,540
• After-tax cash flow: $5,463/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: Ketchikan Gateway Borough School District
• NCES district ID: 0200150
• Math proficiency: 39% ▼ -5.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $61,859
• Composite: 36.86/100
• National rank: #4550
• State rank: #7 of 21 in AK

Livability — Ketchikan

• Score: 76/100
• State rank: #12
• US rank: #3743

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,875

Population outlook (Ketchikan Gateway County) Hauer SSP2

• Today (2025): 14,287 people
• By 2030: 14,487 · +1.4%
• By 2040: 14,750 · +3.2%
• By 2050: 14,908 · +4.3%
• By 2075: 15,319 · +7.2%
• By 2100: 15,204 · +6.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 61% Native American 13% Two or more races 13% Asian 9% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 5% Slovak 4% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 89% English-only · Tagalog/Filipino 7% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Ketchikan Gateway

• 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: ▼ -95.31%
• Current HPI: 190.039
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+181.8% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $775,000 SEABR
• 2026-04-20 Price Changed $775,000 AKMLS
• 2026-03-13 Price Changed $799,800 SEABR
• 2026-03-13 Price Changed $799,800 AKMLS
• 2026-02-06 Listed $829,000 SEABR
• 2026-02-06 Listed $829,000 AKMLS
• 2025-06-04 Sold (Public Records) — Public Records
• 2025-06-04 Sold (MLS) — AKMLS
• 2025-03-27 Listed $750,000 AKMLS
• 2020-04-29 Sold (Public Records) — Public Records
• 2020-02-14 Listed $275,000 AKMLS

Property tax history

+4.6%/yr

Latest (2025): $2,601 · +2.4% YoY. Source: county tax records.