1612 Russian Jack Dr Unit D1 · Anchorage, AK 99508

$149,900

2 bd · 1.0 ba · 756 sqft · Condo public records · 3 Days on market

Built 1982 $198/sqft · at area comps Est $152k · at est. $320/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).

• Cash flow +9.0/30.0
• ARV discount +8.1/15.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to own a ground level condo with no stairs and off street parking. Convenient Eastside location close to JBER, hospitals, and Russian Jack Park and trails. Updated stainless appliances including gas range. Unit features a fireplace and patio with storage closet. Building has newer roof and updated windows. Schedule a showing today!

Key facts

• Eastside location
• Ground level condo
• Off street parking

Tags

• GROUND LEVEL CONDO
• OFF STREET PARKING
• EASTSIDE LOCATION
• UPDATED STAINLESS APPLIANCES
• GAS RANGE
• FIREPLACE

Property features AI

Finance

• HOA & community: Community association with monthly fee; Association fee covers sewer, water, and snow removal

Exterior

• Parking: No garage; No carport
• Utilities: Public sewer
• Home design: Condominium; Attached unit; Built in 1982
• Construction: Wood frame construction; Poured concrete foundation
• Exterior features: Fenced yard; Covenants/restrictions; Ground-floor unit; Composition/asphalt roof; Paved road access

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: BR/BA on main level; Primary bedroom and bathroom on main level; Fireplace; Smoke detector(s); Laminate counters

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (13.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $129k (13.8% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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: Russian Jack Elementary (math 17% / reading 17%, grade F, #139 of 156 statewide, top 92%, 252 students, 87% FRL); Clark Middle School (math 7% / reading 22%, grade F, #35 of 36 statewide, top 97%, 835 students, 100% FRL); Bettye Davis East Anchorage High School (math 20% / reading 25%, grade F, #51 of 61 statewide, top 83%, 1,745 students, 71% FRL) — zoned schools average 86% FRL vs 38% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 40% district-wide (-22 pts) — the specific schools serving this property underperform the Anchorage School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.9%/yr); 149 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $129,284 (13.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 8.0

CMA / ARV

• ARV (median comp): $151,831
• List price: $149,900
• Delta: -1.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.32×
• Total profit: $-28,494
• Equity at exit: $22,351

10-year hold

• IRR: -6.9%
• Equity multiple: 0.51×
• Total profit: $-20,658
• Equity at exit: $12,961

Cash invested: $41,972 (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 99508

• Rents YoY: 4.9%
• Active inventory: 149
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$786
• Tax from tax record: −$183 /mo · $2,193/yr
• Insurance: −$62
• HOA: −$320
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-117

Break-even live

Break-even rent $1,711

Max offer price $129,284

Occupancy floor —

Sensitivity live

Price	-10% $-32	-5% $-74	+0% $-117	+5% $-159	+10% $-202
Rent	-10% $-240	-5% $-178	+0% $-117	+5% $-55	+10% $7
Rate	-1.0pp $-41	-0.5pp $-79	base $-117	+0.5pp $-156	+1.0pp $-195

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4545 Reka Dr Anchorage, AK	1.0–2.0	1.0	562	$1,630	$2.90	15d	10	0.10mi
4670 Reka Dr Unit G11 Anchorage, AK	2.0	1.5	926	$1,800	$1.94	45d	1	0.26mi
4413 E 8th Ave Unit B Anchorage, AK	2.0	1.0	960	$1,400	$1.46	45d	1	0.64mi
2432 Forget-Me-Not Ln Unit A Anchorage, AK	2.0	1.0	900	$1,499	$1.67	15d	1	0.75mi
2405 Boniface Pkwy Unit 4 Anchorage, AK	2.0	1.5	850	$1,750	$2.06	45d	1	0.87mi
4731 Mills Dr Anchorage, AK	1.0	1.0	700	$2,000	$2.86	45d	1	0.91mi
330 S Flower St Unit 12 Anchorage, AK	2.0	1.0	650	$1,300	$2.00	15d	1	0.99mi
330 S Flower St Unit 01 Anchorage, AK	2.0	1.0	700	$1,300	$1.86	45d	1	1.00mi
218 McCarrey St Anchorage, AK	3.0	1.0	640	$1,510	$2.36	23d	9	1.14mi
5326 Lionheart Dr Unit 12 Anchorage, AK	2.0	1.0	820	$1,650	$2.01	25d	1	1.14mi
5310 Lionheart Dr Unit 15 Anchorage, AK	2.0	1.0	820	$1,695	$2.07	15d	1	1.14mi
5814 E Northern Lights Blvd Anchorage, AK	2.0–3.0	1.0	933	$1,800	$1.93	45d	1	1.20mi
5741 Rocky Mountain Ct Unit D Anchorage, AK	2.0	1.0	900	$1,475	$1.64	25d	1	1.21mi
1916 Beaver Pl #1 Anchorage, AK	2.0	1.0	900	$1,500	$1.67	25d	1	1.21mi
3230 Boniface Pkwy Unit 8 Anchorage, AK	1.0	1.0	780	$1,250	$1.60	45d	1	1.24mi
3310 Boniface Pkwy Unit 17 Anchorage, AK	2.0	1.0	900	$1,600	$1.78	45d	1	1.25mi
3350 Boniface Pkwy Unit 40 Anchorage, AK	1.0	1.0	780	$1,250	$1.60	25d	1	1.30mi
5201 Chena Ave #1 Anchorage, AK	3.0	1.0	1100	$1,350	$1.23	45d	1	1.31mi
3410 Boniface Pkwy Unit 46 Anchorage, AK	2.0	1.0	900	$1,600	$1.78	25d	1	1.33mi
138 N Klevin St Unit 2 Anchorage, AK	1.0	1.0	800	$1,250	$1.56	25d	1	1.33mi
225 N Park St Apt 4 Anchorage, AK	2.0	1.0	805	$1,250	$1.55	45d	1	1.36mi
225 N Park St Apt 3 Anchorage, AK	2.0	1.0	800	$1,250	$1.56	23d	1	1.36mi
225 N Park St Unit 11 Anchorage, AK	2.0	1.0	710	$1,200	$1.69	45d	1	1.36mi
5901 E 6th Ave Anchorage, AK	2.0–3.0	1.0–2.0	907	$1,999	$2.20	15d	7	1.38mi
325 N Hoyt St Unit C Anchorage, AK	2.0	1.0	800	$1,300	$1.62	45d	1	1.42mi
404 N Klevin St Unit 2 Anchorage, AK	1.0	1.0	750	$1,095	$1.46	45d	1	1.46mi
423 N Lane St Apt 1 Anchorage, AK	3.0	1.0	980	$2,000	$2.04	25d	1	1.48mi
423 N Lane St #4 Anchorage, AK	3.0	1.0	980	$2,050	$2.09	25d	1	1.48mi
415 N Bragaw St Anchorage, AK	1.0–2.0	1.0	700	$1,500	$2.14	15d	3	1.49mi
415 N Bragaw St #18 Anchorage, AK	1.0	1.0	700	$1,400	$2.00	45d	1	1.49mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-18
   status Pending 350-char remark
2. 2026-05-15
   listed $149,900 Active 350-char remark
3. 2024-08-02
   soldstatus Closed 350-char remark

   Show marketing remark (350 chars)

   Rare opportunity to own a ground level condo with no stairs and off street parking. Convenient Eastside location close to JBER, hospitals, and Russian Jack Park and trails. Updated stainless appliances including gas range. Unit features a fireplace and patio with storage closet. Building has newer roof and updated windows. Schedule a showing today!

4. 2024-08-02
   soldstatus

   Show marketing remark (350 chars)

   Rare opportunity to own a ground level condo with no stairs and off street parking. Convenient Eastside location close to JBER, hospitals, and Russian Jack Park and trails. Updated stainless appliances including gas range. Unit features a fireplace and patio with storage closet. Building has newer roof and updated windows. Schedule a showing today!

5. 2024-06-23
   status Pending 350-char remark

   Show marketing remark (350 chars)

   Rare opportunity to own a ground level condo with no stairs and off street parking. Convenient Eastside location close to JBER, hospitals, and Russian Jack Park and trails. Updated stainless appliances including gas range. Unit features a fireplace and patio with storage closet. Building has newer roof and updated windows. Schedule a showing today!

6. 2024-06-21
   listed $125,000 Active 350-char remark

   Show marketing remark (350 chars)

   Rare opportunity to own a ground level condo with no stairs and off street parking. Convenient Eastside location close to JBER, hospitals, and Russian Jack Park and trails. Updated stainless appliances including gas range. Unit features a fireplace and patio with storage closet. Building has newer roof and updated windows. Schedule a showing today!

7. 2006-08-25
   listed $115,000

ⓘ 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: $2,193 · $183/mo
• Projected year-2 tax: $2,193 · $183/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $18,754
• − Mortgage interest: −$8,397
• − Property taxes: −$2,193
• − Insurance: −$750
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − HOA: −$3,840
• − Depreciation: −$4,361
• Taxable loss: −$3,787
• Est. tax savings @ 24.0%: +$909
• After-tax cash flow: $-492/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): 36,458
• Household income: $79,314
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1248.0

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: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 38% Two or more races 14% Asian 13% Hispanic / Latino 13% Native American 10% Pacific Islander 8% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Portuguese 3% Iranian 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica, South Korea
• Languages at home: 72% English-only · Other Asian/Pacific 11% Spanish 8% Tagalog/Filipino 4%

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: ▼ -203.51%
• Current HPI: 257.8807
• Rent YoY: ▲ 4.88%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+30.3% since first listed

7 events — show timeline

• 2026-05-18 Pending — AKMLS
• 2026-05-15 Listed $149,900 AKMLS
• 2024-08-02 Sold (Public Records) — Public Records
• 2024-08-02 Sold (MLS) — AKMLS
• 2024-06-23 Pending — AKMLS
• 2024-06-21 Listed $125,000 AKMLS
• 2006-08-25 Listed $115,000 AKMLS

Property tax history

+4.8%/yr

Latest (2025): $2,193 · +47.9% YoY. Source: county tax records.