545/555 Clark St

Valdez, AK 99686

$387,500B+

24 bd · 18.0 ba · 2,000 sqft · Built 1980 · MultiFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,169/mo
• Mortgage (P&I): −$2,032
• Tax + insurance: −$646
• HOA: −$0
• Vac / Maint / Mgmt: −$1,505
• Net cashflow: $2,986/mo
• Annual: $35,827/yr
• Cap rate: 15.54%
• Cash-on-cash: 33.02%
• DSCR: 2.47
• 1% rule: 1.85%
• Cash to close: $108,500

Investor read

• This is a 6 × 4-bed/?-bath units multifamily listed at $388k. Condition is rated fair.
• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $498/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $388k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $12k of equity ($3k loan paydown + $9k appreciation (2.3% local appreciation)).
• Location reads 82/100 on livability (#4 in AK, #1,173 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-, commute F.
• Valdez City School District (rural): math 38% / reading 58% proficiency, ranked #3 of 21 in AK (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George H. Gilson Middle School (math 42% / reading 62%, grade C+, #3 of 36 statewide, top 9%, 144 students, 46% FRL); Valdez High School (math 34% / reading 44%, grade F, #22 of 61 statewide, top 35%, 157 students, 31% FRL).
• Market conditions: 9 active listings in the ZIP; 21 units permitted in Chugach Census Area in 2024 (0 in 5+ unit buildings).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $108k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of ice damming and potential water damage
• Major: exterior siding — Signs of wear and potential water infiltration