36875 Rousing Rd · Funny River, AK 99669

$85,000

2 bd · 1.0 ba · 611 sqft · Other · 34 Days on market

Built 2024 1.44 ac lot $139/sqft · 17% below area Est $102k · 17% under ↓ 8% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEWER Off-grid cabin on a private 1.44-acre lot down Funny River Road. This 611 sq ft unfinished cabin is framed for a 2 bed, 1 bath layout & is ready for your finishing touches and utility setup. Includes generator and solar panels for electric & propane heat. Near Brown's Lake public boat launch & the Funny River State Recreation Site. Easy access to fishing, boating & all the outdoor adventures

Key facts

• Off-grid cabin
• Private lot
• Public boat launch

Tags

• OFF-GRID CABIN
• PRIVATE LOT
• GENERATOR
• SOLAR PANELS
• PUBLIC BOAT LAUNCH
• OUTDOOR ADVENTURES

Property features AI

Exterior

• Parking: No garage; No carport
• Utilities: No sewer
• Home design: Residential, detached; Built in 2024
• Construction: Wood frame construction; Metal roof
• Exterior features: Private yard; Horse property; Waterfront

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 three-quarter bath
• Interior features: Bedrooms and bathroom on the main level; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#103 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A-, cost of living B+; Watch: health & safety C-, employment D, amenities F.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Skyview Middle School (math 32% / reading 50%, grade F, #15 of 36 statewide, top 40%, 374 students, 38% FRL); Soldotna High School (math 27% / reading 37%, grade F, #33 of 61 statewide, top 57%, 707 students, 26% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 227 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.50% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $101,954
• List price: $85,000
• Delta: -16.63%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.6%
• Equity multiple: 1.54×
• Total profit: $12,879
• Equity at exit: $12,674

10-year hold

• IRR: 22.4%
• Equity multiple: 2.92×
• Total profit: $45,588
• Equity at exit: $7,349

Cash invested: $23,800 (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 99669

• Home prices YoY: -26.1%
• Active inventory: 227
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $418

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 62%

Sensitivity live

Price	-10% $477	-5% $448	+0% $418	+5% $389	+10% $359
Rent	-10% $318	-5% $368	+0% $418	+5% $468	+10% $519
Rate	-1.0pp $461	-0.5pp $440	base $418	+0.5pp $396	+1.0pp $374

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   status $85,000 Pending 34 DOM
2. 2026-06-17
   days on market $85,000 Active 34 DOM
3. 2026-06-16
   days on market $85,000 Active 33 DOM
4. 2026-06-15
   days on market $85,000 Active 32 DOM
5. 2026-06-14
   days on market $85,000 Active 30 DOM
6. 2026-06-12
   days on market $85,000 Active 29 DOM
7. 2026-06-09
   days on market $85,000 Active 26 DOM
8. 2026-06-09
   price $85,000 Active 25 DOM
9. 2026-06-08
   days on market $92,500 Active 25 DOM
10. 2026-06-07
    days on market $92,500 Active 24 DOM
11. 2026-06-07
    days on market $92,500 Active 23 DOM
12. 2026-06-04
    days on market $92,500 Active 20 DOM
13. 2026-06-02
    days on market $92,500 Active 19 DOM
14. 2026-06-01
    days on market $92,500 Active 18 DOM
15. 2026-05-31
    days on market $92,500 Active 17 DOM
16. 2026-05-31
    days on market $92,500 Active 16 DOM
17. 2026-05-14
    listed $92,500 Active 417-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $15,275
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$2,473
• Taxable income: $3,897
• Est. tax owed @ 24.0%: −$935
• After-tax cash flow: $4,083/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: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Funny River

• Score: 58/100
• State rank: #103
• US rank: #21328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Funny River, AK
• Population (ZIP): 15,722

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Native American 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 4% Italian 4% Romanian 4%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Kenai Peninsula

• 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: ▼ -61.58%
• Current HPI: 174.4233
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-8.1% since first listed

3 events — show timeline

• 2026-06-17 Pending — AKMLS
• 2026-06-08 Price Changed $85,000 AKMLS
• 2026-05-14 Listed $92,500 AKMLS

Property tax history

-0.9%/yr

Latest (2025): $79 · +12.9% YoY. Source: county tax records.