1703 Alaska Way · College, AK 99709

$290,000

2 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 36 Days on market

Built 1977 6,000 sqft lot $173/sqft · 23% below area Est $375k · 23% under · waterfront

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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
• Cash flow +7.7/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located Fairbanks home with slough access and a lifestyle that's hard to replicate. The upper level features a galley-style kitchen that opens seamlessly to the dining room, complemented by a generous pantry or small bedroom — along with a full bath, an additional bedroom and a cozy living area. A charming spiral staircase leads down to the primary suite, an office, the fourth bedroom, and direct access to the deck, backyard, and attached garage. Step outside and you're connected to the Chena River system — pike fishing, winter travel, ducks, and beavers right outside your door. The deck is a perfect place to grill and entertain in the summer, and the aurora is visible from the living room windows on dark winter nights. The yard has rhubarb, strawberries, haskap bushes, raspberries, rose hips, and fireweed all grow naturally and are yours to harvest. A working chicken coop with proven overwintering capability sits on the side porch. Inside, the living room captures exceptional sun exposure — rare and meaningful in an Interior Alaska winter. Walk to the Fairgrounds, Farmer's Market, and local concerts. 15 minutes to the airport, 10 minutes to either Fred Meyer and Safeway. Schools: Anne Wein Elementary, Randy Smith Middle, West Valley High. Sale will include a 24" Ariens snowblower.

Key facts

• Generous pantry
• Galley-style kitchen
• Attached garage

Tags

• GALLEY-STYLE KITCHEN
• GENEROUS PANTRY
• SPIRAL STAIRCASE
• PRIMARY SUITE
• DIRECT ACCESS TO DECK
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (37.4% below list).
• Recommended offer: $182k (37.4% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.5% in College — 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 68/100 on livability (#20 in AK) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, commute B; Watch: cost of living C-, schools D+, crime F.
• Fairbanks North Star Borough School District (urban): math 33% / reading 45% proficiency, ranked #10 of 21 in AK (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 active listings in the ZIP; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $181,587 (37.4% 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 36 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 0.63% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.96%
• DSCR: 0.78
• GRM: 13.3

CMA / ARV

• ARV (median comp): $375,459
• List price: $290,000
• Delta: -22.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2007 Central Ave	0.24mi	3/2.0 (+1)	1,725 (+3%)	2mo	$345,000	$200	78
2001 Southern Ave	0.30mi	3/2.0 (+1)	1,680 (0%)	17mo	$320,000	$190	66
1911 Capitol Ave	0.27mi	3/2.0 (+1)	1,547 (-8%)	6mo	$325,000	$210	64
1911 Southern Ave	0.34mi	3/1.0 (+1)	1,756 (+4%)	8mo	$279,900	$159	61
1625 Old Pioneer Way	0.11mi	2/1.0	1,904 (+13%)	10mo	$349,900	$184	60
2845 Mack Blvd	0.29mi	3/2.0 (+1)	1,831 (+9%)	9mo	$289,900	$158	59
1789 Bridgewater Dr	0.41mi	3/1.5 (+1)	1,510 (-10%)	2mo	$224,900	$149	56
1804 Caribou Way	0.18mi	3/1.0 (+1)	1,478 (-12%)	11mo	$264,900	$179	53
1718 Bridgewater Dr	0.50mi	3/2.0 (+1)	1,512 (-10%)	10mo	$270,000	$179	47
1903 Capitol Ave	0.31mi	3/2.0 (+1)	1,433 (-15%)	13mo	$325,000	$227	45
3195 Amber Ave	0.61mi	2/2.0	1,543 (-8%)	18mo	$290,000	$188	43
216 Aurora Dr	0.48mi	2/1.0	1,920 (+14%)	18mo	$110,000	$57	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -24.8%
• Equity multiple: 0.16×
• Total profit: $-68,485
• Equity at exit: $43,240

10-year hold

• IRR: -20.7%
• Equity multiple: -0.08×
• Total profit: $-87,634
• Equity at exit: $25,074

Cash invested: $81,200 (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 99709

• Active inventory: 146
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,816 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$129 /mo · $1,542/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-336

Break-even live

Break-even rent $2,241

Max offer price $230,710

Occupancy floor —

Sensitivity live

Price	-10% $-171	-5% $-254	+0% $-336	+5% $-418	+10% $-500
Rent	-10% $-479	-5% $-407	+0% $-336	+5% $-264	+10% $-192
Rate	-1.0pp $-190	-0.5pp $-262	base $-336	+0.5pp $-411	+1.0pp $-487

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   price $290,000 1335-char remark

   Show marketing remark (1335 chars)

   Centrally located Fairbanks home with slough access and a lifestyle that's hard to replicate. The upper level features a galley-style kitchen that opens seamlessly to the dining room, complemented by a generous pantry or small bedroom — along with a full bath, an additional bedroom and a cozy living area. A charming spiral staircase leads down to the primary suite, an office, the fourth bedroom, and direct access to the deck, backyard, and attached garage. Step outside and you're connected to the Chena River system — pike fishing, winter travel, ducks, and beavers right outside your door. The deck is a perfect place to grill and entertain in the summer, and the aurora is visible from the living room windows on dark winter nights. The yard has rhubarb, strawberries, haskap bushes, raspberries, rose hips, and fireweed all grow naturally and are yours to harvest. A working chicken coop with proven overwintering capability sits on the side porch. Inside, the living room captures exceptional sun exposure — rare and meaningful in an Interior Alaska winter. Walk to the Fairgrounds, Farmer's Market, and local concerts. 15 minutes to the airport, 10 minutes to either Fred Meyer and Safeway. Schools: Anne Wein Elementary, Randy Smith Middle, West Valley High. Sale will include a 24" Ariens snowblower.

2. 2026-04-27
   price $304,900 1335-char remark

   Show marketing remark (1335 chars)

   Centrally located Fairbanks home with slough access and a lifestyle that's hard to replicate. The upper level features a galley-style kitchen that opens seamlessly to the dining room, complemented by a generous pantry or small bedroom — along with a full bath, an additional bedroom and a cozy living area. A charming spiral staircase leads down to the primary suite, an office, the fourth bedroom, and direct access to the deck, backyard, and attached garage. Step outside and you're connected to the Chena River system — pike fishing, winter travel, ducks, and beavers right outside your door. The deck is a perfect place to grill and entertain in the summer, and the aurora is visible from the living room windows on dark winter nights. The yard has rhubarb, strawberries, haskap bushes, raspberries, rose hips, and fireweed all grow naturally and are yours to harvest. A working chicken coop with proven overwintering capability sits on the side porch. Inside, the living room captures exceptional sun exposure — rare and meaningful in an Interior Alaska winter. Walk to the Fairgrounds, Farmer's Market, and local concerts. 15 minutes to the airport, 10 minutes to either Fred Meyer and Safeway. Schools: Anne Wein Elementary, Randy Smith Middle, West Valley High. Sale will include a 24" Ariens snowblower.

3. 2026-04-21
   listed $315,000 Active 1335-char remark

   Show marketing remark (1335 chars)

   Centrally located Fairbanks home with slough access and a lifestyle that's hard to replicate. The upper level features a galley-style kitchen that opens seamlessly to the dining room, complemented by a generous pantry or small bedroom — along with a full bath, an additional bedroom and a cozy living area. A charming spiral staircase leads down to the primary suite, an office, the fourth bedroom, and direct access to the deck, backyard, and attached garage. Step outside and you're connected to the Chena River system — pike fishing, winter travel, ducks, and beavers right outside your door. The deck is a perfect place to grill and entertain in the summer, and the aurora is visible from the living room windows on dark winter nights. The yard has rhubarb, strawberries, haskap bushes, raspberries, rose hips, and fireweed all grow naturally and are yours to harvest. A working chicken coop with proven overwintering capability sits on the side porch. Inside, the living room captures exceptional sun exposure — rare and meaningful in an Interior Alaska winter. Walk to the Fairgrounds, Farmer's Market, and local concerts. 15 minutes to the airport, 10 minutes to either Fred Meyer and Safeway. Schools: Anne Wein Elementary, Randy Smith Middle, West Valley High. Sale will include a 24" Ariens snowblower.

4. 2022-08-08
   soldstatus 816-char remark

   Show marketing remark (816 chars)

   Great home in town with many excellent qualities! This four bedroom, two bath home sits nestled in the trees on the Noyes Slough, enjoy the birds, beavers, and moose right in your backyard. Upstairs features 2 bedrooms, a living room with vaulted ceilings and large windows looking out over the water. Through the French doors is the open kitchen and dining room area with lots of library shelves and storage. A deck directly off the dining room looks out towards the slough, making it a great spot to bbq and relax. Follow the spiral staircase downstairs to two more bedrooms, and a back door leading to the fenced in backyard. Ample parking with garage space, and an extra parking pad for RV, boat, or toys. The deck, siding, and windows have all recently been replaced. Come see all this house has to offer today!

5. 2022-07-25
   soldstatus
6. 2022-05-25
   listed $229,900 816-char remark

   Show marketing remark (816 chars)

   Great home in town with many excellent qualities! This four bedroom, two bath home sits nestled in the trees on the Noyes Slough, enjoy the birds, beavers, and moose right in your backyard. Upstairs features 2 bedrooms, a living room with vaulted ceilings and large windows looking out over the water. Through the French doors is the open kitchen and dining room area with lots of library shelves and storage. A deck directly off the dining room looks out towards the slough, making it a great spot to bbq and relax. Follow the spiral staircase downstairs to two more bedrooms, and a back door leading to the fenced in backyard. Ample parking with garage space, and an extra parking pad for RV, boat, or toys. The deck, siding, and windows have all recently been replaced. Come see all this house has to offer today!

7. 2022-05-24
   listed $229,900 Active

ⓘ 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: $1,542 · $129/mo
• Projected year-2 tax: $2,497 · $208/mo
• Expected delta: +$954/yr (+$80/mo · 61.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,790
• − Mortgage interest: −$16,245
• − Property taxes: −$1,542
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − Depreciation: −$8,436
• Taxable loss: −$9,369
• Est. tax savings @ 24.0%: +$2,249
• After-tax cash flow: $-1,779/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: Fairbanks North Star Borough School District
• NCES district ID: 0200600
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $69,697
• Composite: 35.5/100
• National rank: #4915
• State rank: #10 of 21 in AK

Livability — College

• Score: 68/100
• State rank: #20
• US rank: #9812

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College, AK
• County: Fairbanks North Star Borough · 69,381 people
• City population: 707
• Metro: Fairbanks, AK
• Population (ZIP): 29,551
• Household income: $86,294
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 868.0

Population outlook (Fairbanks North Star County) Hauer SSP2

• Today (2025): 101,607 people
• By 2030: 102,796 · +1.2%
• By 2040: 104,748 · +3.1%
• By 2050: 107,598 · +5.9%
• By 2075: 118,829 · +16.9%
• By 2100: 127,151 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 65% Two or more races 16% Hispanic / Latino 9% Native American 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Portuguese 2% Lithuanian 2%
• Foreign-born: 6% · Canada, South Korea, Jamaica
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Fairbanks North Star

• 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: ▼ -177.64%
• Current HPI: 152.0818
• Rent YoY: —
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+26.1% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $290,000 GFBR
• 2026-04-27 Price Changed $304,900 GFBR
• 2026-04-21 Listed $315,000 GFBR
• 2022-08-08 Sold (MLS) — GFBR
• 2022-07-25 Sold (Public Records) — Public Records
• 2022-05-25 Listed $229,900 GFBR
• 2022-05-24 Listed $229,900 AKMLS

Property tax history

-5.8%/yr

Latest (2025): $1,542 · -66.2% YoY. Source: county tax records.