212 Sweetgale Ct #212 · Anchorage, AK 99518

$240,000

2 bd · 1.5 ba · 1,111 sqft · Condo public records · 2 Days on market

Built 1978 $420/mo HOA · 20% of rent

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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).

• Appreciation +8.1/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks

Beautifully updated 2 bed, 1.5 bath condo featuring abundant natural light and a bright, open feel throughout. The remodeled kitchen offers quartz countertops, pendant lighting, new oven/stove, added cabinetry, and a stylish marble backsplash, flowing seamlessly into the main living space. Enjoy luxury vinyl plank flooring throughout and a cozy fireplace with elegant marble surround, creating a modern yet inviting atmosphere. Zoned for Taku Elementary, Romig Middle, and West High School.

Key facts

• $420 HOA
• 2 garage spots
• Built 1978

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (10.3% below list).
• Recommended offer: $194k (19.0% below list) — sets the bar for cash-flow.
• Cap rate 5.0% 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.

Location & tenants

• 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: Taku Elementary (math 22% / reading 27%, grade F, #122 of 156 statewide, top 81%, 286 students, 72% FRL); Romig Middle School (math 24% / reading 44%, grade F, #22 of 36 statewide, top 63%, 720 students, 37% FRL); West High School (math 32% / reading 27%, grade F, #39 of 61 statewide, top 65%, 1,763 students, 40% FRL).
• Market conditions: 51 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (6.2% local appreciation)).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 32y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $194,407 (19.0% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.83×
• Total profit: $55,856
• Equity at exit: $153,835

10-year hold

• IRR: 12.9%
• Equity multiple: 3.63×
• Total profit: $176,890
• Equity at exit: $281,566

Cash invested: $67,200 (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 99518

• Home prices YoY: 2.1%
• Active inventory: 51
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,153 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$180 /mo · $2,160/yr
• Insurance: −$100
• HOA: −$420
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-258

Break-even live

Break-even rent $2,479

Max offer price $194,407

Occupancy floor —

Sensitivity live

Price	-10% $-122	-5% $-190	+0% $-258	+5% $-326	+10% $-394
Rent	-10% $-428	-5% $-343	+0% $-258	+5% $-173	+10% $-88
Rate	-1.0pp $-137	-0.5pp $-197	base $-258	+0.5pp $-320	+1.0pp $-384

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6388 Fairweather Dr Anchorage, AK	3.0	2.0	1372	$2,500	$1.82	46d	1	0.29mi
5911 Denali St Unit B2 Anchorage, AK	3.0	1.5	1100	$1,700	$1.55	25d	1	0.62mi
7308 Chugach Meadows Loop Anchorage, AK	2.0	2.5	1240	$2,550	$2.06	16d	1	0.64mi
7310 Chugach Meadows Loop Anchorage, AK	2.0	2.0	1028	$2,399	$2.33	23d	1	0.64mi
701 E 78th Ave Unit 705 Anchorage, AK	2.0	2.0	1020	$2,450	$2.40	16d	1	0.64mi
7330 Meadow St Anchorage, AK	2.0	2.0	1028	$2,399	$2.33	25d	1	0.67mi
7371 Huntsmen Cir Unit 16A Anchorage, AK	2.0	2.0	741	$1,995	$2.69	46d	1	0.71mi
290 E 56th Ave Unit 290 Anchorage, AK	2.0	2.0	1500	$2,300	$1.53	46d	1	0.77mi
7538 Foxridge Way Unit 8H8H Anchorage, AK	2.0	2.0	741	$2,500	$3.37	16d	1	0.80mi
1674 Woodroe Ln #14 Anchorage, AK	3.0	2.0	1365	$2,500	$1.83	46d	1	0.82mi
5215 Mockingbird Dr Anchorage, AK	2.0	1.0	642	$1,700	$2.65	16d	10	0.95mi
2134 E 56th Ave Anchorage, AK	1.0–2.0	1.0–2.0	1015	$2,839	$2.80	16d	8	1.01mi
2237 E 56th Ave Anchorage, AK	1.0–2.0	1.0–2.0	681	$1,819	$2.67	23d	6	1.14mi
1041 W 77th Ave Anchorage, AK	2.0	1.5	1448	$2,700	$1.86	25d	1	1.22mi
5360 Lake Otis Pkwy Unit 04 Anchorage, AK	2.0	1.0	850	$1,695	$1.99	25d	1	1.25mi
4631 Juneau St Anchorage, AK	1.0	1.0	765	$1,375	$1.80	25d	1	1.27mi
2230 E 52nd Ave #4 Anchorage, AK	2.0	1.0	1015	$1,950	$1.92	46d	1	1.28mi
5300 Lake Otis Pkwy Unit 11 Anchorage, AK	2.0	1.0	850	$1,695	$1.99	16d	1	1.28mi
4611 Juneau St Anchorage, AK	1.0–2.0	1.0	800	$1,750	$2.19	46d	1	1.29mi
1008 W 80th Ave Anchorage, AK	3.0	1.5	1267	$2,400	$1.89	46d	1	1.31mi
2969 Silver Chase Ct Anchorage, AK	3.0	2.0	1388	$2,700	$1.95	46d	1	1.42mi

HOA detail condo

• Monthly dues: $420 · $5,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-25
   listed $240,000 Active
3. 2018-09-19
   listed $152,000
4. 2013-02-13
   soldstatus
5. 2005-11-02
   soldstatus
6. 2004-02-09
   soldstatus
7. 1994-03-28
   listed $65,000

ⓘ 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: $2,160 · $180/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$348/yr (+$29/mo · 16.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $25,830
• − Mortgage interest: −$13,444
• − Property taxes: −$2,160
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − HOA: −$5,040
• − Depreciation: −$6,982
• Taxable loss: −$7,128
• Est. tax savings @ 24.0%: +$1,711
• After-tax cash flow: $-1,386/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: Anchorage School District
• NCES district ID: 0200180
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $76,447
• Composite: 37.0/100
• National rank: #4523
• State rank: #6 of 21 in AK

Livability — Anchorage

• Score: 78/100
• State rank: #6
• US rank: #2553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anchorage, AK
• County: Anchorage Borough · 246,594 people
• City population: 218,117
• Metro: Anchorage, AK
• Population (ZIP): 9,764
• Household income: $93,995
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 385.0

Population outlook (Anchorage County) Hauer SSP2

• Today (2025): 314,993 people
• By 2030: 321,771 · +2.2%
• By 2040: 335,493 · +6.5%
• By 2050: 352,799 · +12.0%
• By 2075: 414,771 · +31.7%
• By 2100: 474,485 · +50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 56% Two or more races 17% Hispanic / Latino 12% Black 7% Native American 5% Asian 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Portuguese 4% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 5% Tagalog/Filipino 2% Korean 1%

Political lean MEDSL · Anchorage

• 2024 margin: D (+12.7) · D 56.3% · R 43.7%
• 2016→2024 swing: +27.9pp toward D · 2016: -15.2pp · 2024: 12.7pp
• All cycles: 2024: D+12.7 2016: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.20%
• Current HPI: 294.8217
• Rent YoY: —
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+269.2% since first listed

7 events — show timeline

• 2026-04-27 Pending — AKMLS
• 2026-04-25 Listed $240,000 AKMLS
• 2018-09-19 Listed $152,000 AKMLS
• 2013-02-13 Sold (Public Records) — Public Records
• 2005-11-02 Sold (Public Records) — Public Records
• 2004-02-09 Sold (Public Records) — Public Records
• 1994-03-28 Listed $65,000 AKMLS

Property tax history

+1.5%/yr

Latest (2025): $2,160 · +29.2% YoY. Source: county tax records.