5905 Churchill Ct #34

Juneau, AK 99801

$215,000C

3 bd · 3.0 ba · 1,150 sqft · Built 1970 · Manufactured · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,347/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$493
• Net cashflow: $368/mo
• Annual: $4,422/yr
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• 1% rule: 1.09%
• Cash to close: $60,200

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $215k. Condition is rated good.
• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• It's been on market 92 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#3 in AK, #703 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime F, cost of living F.
• Juneau Borough School District (town): math 32% / reading 44% proficiency, ranked #9 of 21 in AK (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harborview Elementary (math 27% / reading 27%, grade F, #116 of 156 statewide, top 77%, 301 students, 34% FRL); Juneau-Douglas High School: Yadaa.At Kalt (math 42% / reading 47%, grade F, #14 of 61 statewide, top 25%, 567 students, 20% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 179 active listings in the ZIP; solid renter incomes; 114 units permitted in Juneau City and Borough in 2024 (82 in 5+ unit buildings).
• Juneau County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 8.3% vs local median 2.6% in Juneau — 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.

Questions for listing agent

• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.