628 Gambell St · Anchorage, AK 99501

$199,000

4 bd · 2.0 ba · 2,375 sqft · SingleFamily public records · 125 Days on market

Built 1947 6,820 sqft lot $84/sqft · 53% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

Key facts

• Fully functional
• Ready for occupancy
• Spacious layout

Tags

• FAIRVIEW NEIGHBORHOOD
• STRONG RENTAL POTENTIAL
• SPACIOUS LAYOUT
• FULLY FUNCTIONAL
• READY FOR OCCUPANCY
• NEAR DOWNTOWN ANCHORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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.
• Market conditions: Rents rising fast (+5.1%/yr); 102 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $3,335/mo this rent would consume 56% of the median local household income ($71k/yr) (locally 889% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 30y ago; this cycle's ask has dropped $36k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 1.68% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.43%
• DSCR: 2.04
• GRM: 5.0

CMA / ARV

• ARV (median comp): $424,500
• List price: $199,000
• Delta: -53.12%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 Latouche St	0.65mi	3/2.0 (-1)	2,048 (-14%)	1mo	$375,000	$183	41
1101 E 16th Ave	0.74mi	5/2.0 (+1)	2,136 (-10%)	4mo	$399,000	$187	40
1135 E 14th Ave	0.60mi	4/2.0	2,034 (-14%)	11mo	$300,000	$147	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.12% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 1.80×
• Total profit: $44,473
• Equity at exit: $29,672

10-year hold

• IRR: 29.0%
• Equity multiple: 3.87×
• Total profit: $159,721
• Equity at exit: $17,206

Cash invested: $55,720 (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 99501

• Home prices YoY: -3.7%
• Rents YoY: 5.1%
• Active inventory: 102
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,335 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$420 /mo · $5,037/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $1,088

Break-even live

Break-even rent $1,957

Max offer price $199,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,201	-5% $1,144	+0% $1,088	+5% $1,032	+10% $975
Rent	-10% $825	-5% $956	+0% $1,088	+5% $1,220	+10% $1,352
Rate	-1.0pp $1,188	-0.5pp $1,139	base $1,088	+0.5pp $1,037	+1.0pp $984

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1303 H St Unit 1 Anchorage, AK	3.0	2.5	3032	$2,800	$0.92	44d	1	0.95mi
1541 G St #1 Anchorage, AK	3.0	2.0	1702	$4,000	$2.35	44d	1	0.99mi
324 E Manor Ave Unit 231 Anchorage, AK	5.0	3.0	3250	$5,000	$1.54	44d	1	1.02mi
1353 M St Anchorage, AK	3.0	2.0	1976	$3,100	$1.57	44d	1	1.24mi
2045 Eastridge Dr Anchorage, AK	3.0	2.0	1861	$3,500	$1.88	24d	1	1.42mi

Listing history 28 events

1. 2026-06-18
   days on market $199,000 Active 125 DOM
2. 2026-06-17
   days on market $199,000 Active 124 DOM
3. 2026-06-16
   days on market $199,000 Active 123 DOM
4. 2026-06-15
   days on market $199,000 Active 122 DOM
5. 2026-06-14
   days on market $199,000 Active 120 DOM
6. 2026-06-13
   days on market $199,000 Active 119 DOM
7. 2026-06-10
   days on market $199,000 Active 117 DOM
8. 2026-06-09
   days on market $199,000 Active 116 DOM
9. 2026-06-08
   days on market $199,000 Active 115 DOM
10. 2026-06-07
    days on market $199,000 Active 114 DOM
11. 2026-06-03
    days on market $199,000 Active 110 DOM
12. 2026-06-02
    days on market $199,000 Active 109 DOM
13. 2026-06-01
    days on market $199,000 Active 108 DOM
14. 2026-05-31
    days on market $199,000 Active 107 DOM
15. 2026-05-30
    days on market $199,000 Active 106 DOM
16. 2026-05-13
    status Active 622-char remark

    Show marketing remark (622 chars)

    This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

17. 2026-04-27
    price $199,000 622-char remark

    Show marketing remark (622 chars)

    This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

18. 2026-04-06
    price $209,000 622-char remark

    Show marketing remark (622 chars)

    This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

19. 2026-02-27
    price $225,000 622-char remark

    Show marketing remark (622 chars)

    This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

20. 2026-02-11
    listed $235,000 Active 622-char remark

    Show marketing remark (622 chars)

    This home is in Anchorage's central Fairview neighborhood, offering strong rental and value-add potential. The property features a spacious layout, providing flexibility for a variety of uses and investment strategies. While some updates would enhance the home, it is fully functional and ready for occupancy or rental. Conveniently located near Downtown Anchorage, major employment centers, public transportation, and local amenities. Being sold as-is, with pricing reflecting its current condition and potential for improvement. Ideal for investors or buyers looking to add personal touches and maximize long-term value.

21. 2014-05-20
    listed $270,000
22. 2013-06-19
    soldstatus
23. 2013-01-25
    listed $249,900
24. 2011-01-13
    listed $290,000
25. 2007-06-04
    soldstatus
26. 2003-09-23
    listed $184,900
27. 1996-05-19
    listed $155,000
28. 1994-11-17
    soldstatus

ⓘ 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: $5,037 · $420/mo
• Projected year-2 tax: $5,037 · $420/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: $40,015
• − Mortgage interest: −$11,147
• − Property taxes: −$5,037
• − Insurance: −$995
• − Repairs & maintenance: −$3,201
• − Management: −$3,201
• − Depreciation: −$5,789
• Taxable income: $10,645
• Est. tax owed @ 24.0%: −$2,555
• After-tax cash flow: $10,502/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): 16,175
• Household income: $70,891
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 889.0

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 0.70)
• Race & ethnicity: White 53% Hispanic / Latino 11% Two or more races 11% Native American 9% Black 9% Asian 6% Pacific Islander 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 1%
• Common ancestry: Portuguese 3% Slovak 3% Romanian 2%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 7% Other Asian/Pacific 2% Tagalog/Filipino 2%

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: ▼ -9.72%
• Current HPI: 251.948
• Rent YoY: ▲ 5.12%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+28.4% since first listed

13 events — show timeline

• 2026-05-13 Relisted — AKMLS
• 2026-04-27 Price Changed $199,000 AKMLS
• 2026-04-06 Price Changed $209,000 AKMLS
• 2026-02-27 Price Changed $225,000 AKMLS
• 2026-02-11 Listed $235,000 AKMLS
• 2014-05-20 Listed $270,000 AKMLS
• 2013-06-19 Sold (Public Records) — Public Records
• 2013-01-25 Listed $249,900 AKMLS
• 2011-01-13 Listed $290,000 AKMLS
• 2007-06-04 Sold (Public Records) — Public Records
• 2003-09-23 Listed $184,900 AKMLS
• 1996-05-19 Listed $155,000 AKMLS
• 1994-11-17 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $5,037 · -13.5% YoY. Source: county tax records.