816 29th Ave · Fairbanks, AK 99701

$290,000

4 bd · 2.0 ba · 3,072 sqft · MultiFamily public records · 65 Days on market

Built 1975 Fair condition 0.33 ac lot $94/sqft · 33% below area Est $432k · 33% under ↓ 11% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Livability +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Unlock the potential in this spacious up-and-down duplex offering over 3,000 square feet of living space on a generous 14,500 sq ft lot. Featuring a total of 5 bedrooms and 4 full bathrooms. Each unit is equipped with their own washer/dryer hook ups and separate entrances. This property is ideal for investors or owner-occupants looking to offset their mortgage with rental income. This property provides a solid starting point for those ready to add value and build equity. Each unit offers functional layouts with ample living space, making it easy to customize and update to your vision. The upper unit has 3 bedrooms, 2 full baths and the lower unit has 2 bedrooms and 2 full baths. Situated in a multiple-family residential zoning district in Fairbanks, this property offers flexibility and long-term investment potential. Whether you’re looking to renovate and increase rents, house hack, or expand your portfolio, this is an opportunity you don’t want to miss! Being sold as-is – bring your vision and make it your own!

Key facts

• Up and down duplex
• Separate entrances
• 0.33 acre lot

Tags

• UP AND DOWN DUPLEX
• WASHER DRYER HOOK UPS
• SEPARATE ENTRANCES
• LONG TERM INVESTMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 1×2bd/2.0ba + 1×3bd/2.0ba units multifamily listed at $290k. Condition is rated fair.
• This rent per unit runs 33% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $714/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 4.9% in Fairbanks — 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 57/100 on livability (#95 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools D, crime F, amenities 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: Rents rising (+1.6%/yr); 134 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $81k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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. 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.
11. 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.
12. 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: 1.45% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.11%
• DSCR: 1.94
• GRM: 5.7

CMA / ARV

• ARV (median comp): $431,651
• List price: $290,000
• Delta: -32.82%
• 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
816 29th Ave	0.00mi	5/4.0 (+1)	3,072 (0%)	1mo	$290,000	$94	86
1018 26th Ave	0.26mi	5/2.0 (+1)	2,352 (-23%)	8mo	$339,000	$144	51
1021 Pedro St	1.50mi	3/2.5 (-1)	3,130 (+2%)	16mo	$430,000	$137	41
1319 22nd Ave	0.65mi	5/2.5 (+1)	2,800 (-9%)	17mo	$456,000	$163	34
1042 Pedro St	1.48mi	4/3.0	2,645 (-14%)	13mo	$379,900	$144	27
653 Eighth Ave	1.33mi	3/2.0 (-1)	2,450 (-20%)	12mo	$124,900	$51	25
1213 Wild Rose Ave	1.16mi	3/2.0 (-1)	2,340 (-24%)	13mo	$320,000	$137	24
656 9th Ave	1.32mi	3/2.0 (-1)	2,332 (-24%)	16mo	$349,900	$150	22
1504 Buttercup St	1.13mi	4/3.0	2,552 (-17%)	18mo	$323,900	$127	21
301 Fifteenth Ave	0.93mi	5/1.5 (+1)	2,304 (-25%)	14mo	$315,000	$137	21
1600 24th Ave	0.75mi	3/3.0 (-1)	3,756 (+22%)	14mo	$475,000	$126	19
500 Slater Dr	1.48mi	4/4.5	3,528 (+15%)	18mo	$499,900	$142	15

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.47×
• Total profit: $38,204
• Equity at exit: $43,240

10-year hold

• IRR: 19.9%
• Equity multiple: 2.57×
• Total profit: $127,376
• 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 99701

• Home prices YoY: -19.4%
• Rents YoY: 1.6%
• Active inventory: 134
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $4,210 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$256 /mo · $3,073/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$884
• Net cashflow: $1,428

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,956
1× unit	3	2	$2,255
Total (2 units)			$4,210

Break-even live

Break-even rent $2,402

Max offer price $290,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,592	-5% $1,510	+0% $1,428	+5% $1,346	+10% $1,264
Rent	-10% $1,096	-5% $1,262	+0% $1,428	+5% $1,595	+10% $1,761
Rate	-1.0pp $1,574	-0.5pp $1,502	base $1,428	+0.5pp $1,353	+1.0pp $1,277

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: $72,500
• Closing costs: $8,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2803 Wilson St Apt 4 Fairbanks, AK	3.0	1.0	1000	$2,450	$2.45	93d	1	0.38mi
1902 Mary Ann St Unit 82 Fairbanks, AK	1.0	1.0	—	$1,100	—	93d	1	0.66mi
825 17th Ave Fairbanks, AK	2.0	1.0	—	$1,600	—	93d	1	0.70mi
827 17th Ave Fairbanks, AK	2.0	1.0	—	$1,600	—	93d	1	0.72mi
635 10th Ave Unit 1 Fairbanks, AK	1.0	1.0	—	$1,895	—	93d	1	1.23mi
635 10th Ave Unit 5 Fairbanks, AK	3.0	2.0	—	$2,195	—	93d	1	1.23mi
4268 Neely Rd Fort Wainwright, AK	3.0–4.0	2.5	2138	$2,106	$0.99	93d	1	1.49mi

Listing history 3 events

1. 2026-05-07
   price $290,000 1046-char remark

   Show marketing remark (1046 chars)

   Unlock the potential in this spacious up-and-down duplex offering over 3,000 square feet of living space on a generous 14,500 sq ft lot. Featuring a total of 5 bedrooms and 4 full bathrooms. Each unit is equipped with their own washer/dryer hook ups and separate entrances. This property is ideal for investors or owner-occupants looking to offset their mortgage with rental income. This property provides a solid starting point for those ready to add value and build equity. Each unit offers functional layouts with ample living space, making it easy to customize and update to your vision. The upper unit has 3 bedrooms, 2 full baths and the lower unit has 2 bedrooms and 2 full baths. Situated in a multiple-family residential zoning district in Fairbanks, this property offers flexibility and long-term investment potential. Whether you’re looking to renovate and increase rents, house hack, or expand your portfolio, this is an opportunity you don’t want to miss! Being sold as-is – bring your vision and make it your own!

2. 2026-04-06
   price $319,000 1046-char remark

   Show marketing remark (1046 chars)

   Unlock the potential in this spacious up-and-down duplex offering over 3,000 square feet of living space on a generous 14,500 sq ft lot. Featuring a total of 5 bedrooms and 4 full bathrooms. Each unit is equipped with their own washer/dryer hook ups and separate entrances. This property is ideal for investors or owner-occupants looking to offset their mortgage with rental income. This property provides a solid starting point for those ready to add value and build equity. Each unit offers functional layouts with ample living space, making it easy to customize and update to your vision. The upper unit has 3 bedrooms, 2 full baths and the lower unit has 2 bedrooms and 2 full baths. Situated in a multiple-family residential zoning district in Fairbanks, this property offers flexibility and long-term investment potential. Whether you’re looking to renovate and increase rents, house hack, or expand your portfolio, this is an opportunity you don’t want to miss! Being sold as-is – bring your vision and make it your own!

3. 2026-03-24
   listed $325,000 Active 1046-char remark

   Show marketing remark (1046 chars)

   Unlock the potential in this spacious up-and-down duplex offering over 3,000 square feet of living space on a generous 14,500 sq ft lot. Featuring a total of 5 bedrooms and 4 full bathrooms. Each unit is equipped with their own washer/dryer hook ups and separate entrances. This property is ideal for investors or owner-occupants looking to offset their mortgage with rental income. This property provides a solid starting point for those ready to add value and build equity. Each unit offers functional layouts with ample living space, making it easy to customize and update to your vision. The upper unit has 3 bedrooms, 2 full baths and the lower unit has 2 bedrooms and 2 full baths. Situated in a multiple-family residential zoning district in Fairbanks, this property offers flexibility and long-term investment potential. Whether you’re looking to renovate and increase rents, house hack, or expand your portfolio, this is an opportunity you don’t want to miss! Being sold as-is – bring your vision and make it your own!

ⓘ 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: $3,073 · $256/mo
• Projected year-2 tax: $3,262 · $272/mo
• Expected delta: +$189/yr (+$16/mo · 6.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $50,520
• − Mortgage interest: −$16,245
• − Property taxes: −$3,073
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,042
• − Management: −$4,042
• − Depreciation: −$8,436
• Taxable income: $13,233
• Est. tax owed @ 24.0%: −$3,176
• After-tax cash flow: $13,963/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $76,800–$138,240 screening

This multi-family property requires significant exterior repairs and maintenance to improve its condition and value.

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — snow accumulation suggests potential structural issues or damage
• Major Windows (windows) — snow build-up around windows indicates potential sealing issues
• Major Electrical (electrical) — snow accumulation on the roof and windows suggests potential electrical issues

Repairs flagged

• Major roof — Significant damage visible
• Major exterior — Significant wear and snow accumulation

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean roof — Improves roof condition and appearance ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Hunter Elementary F AK #122/156 Nat'l #30,133/41,679 Middle Ryan Middle School F AK #28/36 Nat'l #9,290/14,009 High Lathrop High School F AK #24/61 Nat'l #9,001/17,239

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

D Composite livability gradescore 57/100

Livability — Fairbanks

• Score: 57/100
• State rank: #95
• US rank: #21394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairbanks, AK
• County: Fairbanks North Star Borough · 101,607 people
• City population: 47,612
• Metro: Fairbanks, AK
• Population (ZIP): 18,061
• Household income: $75,668
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 59% Two or more races 14% Native American 12% Hispanic / Latino 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 86% English-only · Spanish 4% Korean 2% Tagalog/Filipino 2%

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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: ▼ -37.70%
• Current HPI: 156.1921
• Rent YoY: ▲ 1.62%
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

-10.8% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $290,000 GFBR
• 2026-04-06 Price Changed $319,000 GFBR
• 2026-03-24 Listed $325,000 GFBR

Property tax history

+1.9%/yr

Latest (2025): $3,073 · -8.1% YoY. Source: county tax records.