907 W 27th Ave · Anchorage, AK 99503

$725,000

48 bd · 36.0 ba · 3,894 sqft · MultiFamily public records · 56 Days on market

Built 1972 7,250 sqft lot $186/sqft · 11% above area Est $654k · 11% over

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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
• Appreciation +6.5/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The condition of this 6 Plex speaks for itself. New Roof, Boiler replaced in 2022. Additionally, the windows, hot water tank & common areas have been updated. W/D refurbish in 2024 (2016). All new kitchen cabs in one unit and several units have had numerous cosmetic updates, while still keeping the ''retro vibe''. Property has been professionally managed and enjoys low vacancy. Secured entrance.

Key facts

• Hot water tank
• Boiler replaced
• New w d set

Tags

• NEW ROOF
• BOILER REPLACED
• UPDATED WINDOWS
• HOT WATER TANK
• COMMON AREAS UPDATED
• NEW W D SET

What this means for you Summary

Snapshot

• This is a 6 × 8-bed/6.0-bath units multifamily listed at $725k.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive. Per door: $774/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $725k).
• Recommended offer: $703k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 (+2.3%/yr); 65 active listings in the ZIP; solid renter incomes; 306 units permitted in Anchorage Municipality in 2024 (90 in 5+ unit buildings).
• At $11,851/mo this rent would consume 187% of the median local household income ($76k/yr) (locally 747% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($5k loan paydown + $22k appreciation (3.1% local appreciation)).
• Anchorage County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.1% appreciation + 2.3% rent growth), your $203k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($703k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $703,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.63% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.45%
• DSCR: 2.22
• GRM: 5.1

CMA / ARV

• ARV (median comp): $654,086
• List price: $725,000
• Delta: 10.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.1% appreciation · 2.28% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 2.86×
• Total profit: $378,430
• Equity at exit: $330,059

10-year hold

• IRR: 32.8%
• Equity multiple: 5.51×
• Total profit: $916,465
• Equity at exit: $511,845

Cash invested: $203,000 (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 99503

• Home prices YoY: 1.3%
• Rents YoY: 2.3%
• Active inventory: 65
• Price-to-rent: 30.6×

Monthly cashflow live

• Estimated rent: $11,851 medium
• Mortgage (P&I): −$3,802
• Tax from tax record: −$614 /mo · $7,368/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,489
• Net cashflow: $4,644

Break-even live

Break-even rent $5,972

Max offer price $725,000

Occupancy floor 56%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	8	6	$11,850
Total (6 units)			$11,851

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-01
   listed $725,000 Active 403-char remark

   Show marketing remark (403 chars)

   The condition of this 6 Plex speaks for itself. New Roof, Boiler replaced in 2022. Additionally, the windows, hot water tank & common areas have been updated. W/D refurbish in 2024 (2016). All new kitchen cabs in one unit and several units have had numerous cosmetic updates, while still keeping the ''retro vibe''. Property has been professionally managed and enjoys low vacancy. Secured entrance.

2. 2025-03-21
   price $599,000
3. 2025-02-26
   price $625,000
4. 2025-02-18
   status Active
5. 2025-01-29
   status Pending
6. 2025-01-05
   price $640,000
7. 2024-12-15
   listed $665,000 Active
8. 2022-11-22
   soldstatus
9. 1993-02-09
   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: $7,368 · $614/mo
• Projected year-2 tax: $7,998 · $666/mo
• Expected delta: +$630/yr (+$52/mo · 8.6%)

ⓘ 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: $142,212
• − Mortgage interest: −$40,611
• − Property taxes: −$7,368
• − Insurance: −$3,625
• − Repairs & maintenance: −$11,377
• − Management: −$11,377
• − Depreciation: −$21,091
• Taxable income: $46,763
• Est. tax owed @ 24.0%: −$11,223
• After-tax cash flow: $44,508/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): 12,964
• Household income: $76,144
• Rent vs Own: 68.2% rent · 31.8% own
• Severe rent burden: 747.0

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 0.78)
• Race & ethnicity: White 43% Asian 15% Native American 15% Two or more races 13% Hispanic / Latino 8% Black 8% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 75% English-only · Tagalog/Filipino 9% Spanish 6% Other Asian/Pacific 3%

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: ▲ 3.10%
• Current HPI: 238.2191
• Rent YoY: ▲ 2.28%
• Metro: Anchorage, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+9.0% since first listed

9 events — show timeline

• 2026-04-01 Listed $725,000 AKMLS
• 2025-03-21 Price Changed $599,000 AKMLS
• 2025-02-26 Price Changed $625,000 AKMLS
• 2025-02-18 Relisted — AKMLS
• 2025-01-29 Pending — AKMLS
• 2025-01-05 Price Changed $640,000 AKMLS
• 2024-12-15 Listed $665,000 AKMLS
• 2022-11-22 Sold (Public Records) — Public Records
• 1993-02-09 Sold (Public Records) — Public Records

Property tax history

+2.1%/yr

Latest (2025): $7,368 · +3.4% YoY. Source: county tax records.