1526 Noble St · Fairbanks, AK 99701

$169,900

None bd · 2.5 ba · 1,568 sqft · MultiFamily public records · 136 Days on market

Built 1947 Good condition 6,840 sqft lot $108/sqft · 52% 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
• Condition / age +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Livability +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1526 Noble Street, a charming and historic triplex located in the heart of Fairbanks. Built in 1947, this well-maintained property offers classic character with strong rental potential, producing a gross annual income of approximately $36,000. With a total of 1,568 square feet, the home is divided into three 1 bedroom, 1 bathroom units. Two traditional 1 bedroom apartments upstairs and an efficiency-style unit in the basement. The layout begins with an arctic entryway leading to three separate doors: one to each upstairs unit and one to the staircase that accesses the lower-level apartment. Each unit offers comfortable living spaces with the charm and warmth of a mid-century home. Constructed with durable 2x4 framing, the property has stood the test of time and remains a steady income generator. Conveniently located near downtown shopping, dining, and entertainment, this triplex provides easy access to everything Fairbanks has to offer. Whether you’re an experienced investor expanding your portfolio or a new landlord looking for an affordable entry point into real estate, 1526 Noble Street delivers both opportunity and location in one great package.

Key facts

• Three separate doors
• Durable 2x4 framing
• Arctic entryway

Tags

• HISTORIC TRIPLEX
• STRONG RENTAL POTENTIAL
• ARCTIC ENTRYWAY
• THREE SEPARATE DOORS
• EFFICIENCY-STYLE UNIT
• DURABLE 2X4 FRAMING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $824/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 4.9% in Fairbanks — 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 57/100 on livability (#95 in AK) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools D, crime F, amenities F.
• Fairbanks North Star Borough School District (urban): math 33% / reading 45% proficiency, ranked #10 of 21 in AK (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 134 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1 units permitted in Fairbanks North Star Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Fairbanks North Star County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 2.68% ✓
• Cap rate: 23.75%
• Cash-on-cash: 62.34%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $350,659
• List price: $169,900
• Delta: -51.55%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1421 Mary Ann St	0.24mi	4/2.0	1,596 (+2%)	10mo	$370,000	$232	76
731 28th Ave	0.83mi	4/2.0	1,536 (-2%)	3mo	$355,000	$231	57
1445 Lacey St	0.10mi	1/3.0	1,840 (+17%)	14mo	$315,000	$171	57
731 28th Ave	0.83mi	4/2.0	1,572 (+0%)	12mo	$325,000	$207	52
1015 26th Ave	0.77mi	4/2.0	1,536 (-2%)	22mo	$335,000	$218	42
219 Fourth Ave	0.64mi	4/3.0	1,454 (-7%)	18mo	$300,000	$206	41
550 Second St	0.95mi	3/4.0	1,824 (+16%)	2mo	$335,000	$184	32
1019 Second Ave	0.97mi	6/2.0	1,873 (+20%)	9mo	$269,000	$144	30
1423 Lathrop St	1.02mi	4/2.0	1,876 (+20%)	23mo	$255,000	$136	19
2506 Mercier St	0.70mi	2/4.0	1,792 (+14%)	23mo	$430,000	$240	18

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 3.60×
• Total profit: $123,683
• Equity at exit: $25,333

10-year hold

• IRR: 64.0%
• Equity multiple: 7.00×
• Total profit: $285,666
• Equity at exit: $14,690

Cash invested: $47,572 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $285,000 ($185/sqft)
• Median days on market: 12 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +21.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 99701

• Home prices YoY: -19.4%
• Rents YoY: 1.6%
• Active inventory: 134
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $4,551 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$956
• Net cashflow: $2,471

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$4,551
Total (3 units)			$4,551

Break-even live

Break-even rent $1,423

Max offer price $169,900

Occupancy floor 41%

Sensitivity live

Price	-10% $2,568	-5% $2,520	+0% $2,471	+5% $2,423	+10% $2,375
Rent	-10% $2,112	-5% $2,292	+0% $2,471	+5% $2,651	+10% $2,831
Rate	-1.0pp $2,557	-0.5pp $2,515	base $2,471	+0.5pp $2,427	+1.0pp $2,383

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: $42,475
• Closing costs: $5,097
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1902 Mary Ann St Unit 82 Fairbanks, AK	1.0	1.0	—	$1,100	—	93d	1	0.32mi
827 17th Ave Fairbanks, AK	2.0	1.0	—	$1,600	—	93d	1	0.37mi
825 17th Ave Fairbanks, AK	2.0	1.0	—	$1,600	—	93d	1	0.38mi
635 10th Ave Unit 5 Fairbanks, AK	3.0	2.0	—	$2,195	—	93d	1	0.44mi
635 10th Ave Unit 1 Fairbanks, AK	1.0	1.0	—	$1,895	—	93d	1	0.44mi
910 4th Ave Fairbanks, AK	2.0	1.0	1048	$1,700	$1.62	93d	1	0.89mi
2803 Wilson St Apt 4 Fairbanks, AK	3.0	1.0	1000	$2,450	$2.45	93d	1	0.98mi
1301 9th Ave Fairbanks, AK	1.0	1.0	—	$1,400	—	93d	1	1.08mi
4268 Neely Rd Fort Wainwright, AK	3.0–4.0	2.5	2138	$2,106	$0.99	93d	1	1.26mi
604 D St Unit 604 Fairbanks, AK	1.0	1.0	—	$1,050	—	93d	1	1.50mi

Listing history 50 events

1. 2026-08-08
   days on market $169,900 Active 136 DOM
2. 2026-08-07
   days on market $169,900 Active 135 DOM
3. 2026-08-06
   days on market $169,900 Active 134 DOM
4. 2026-08-05
   days on market $169,900 Active 133 DOM
5. 2026-08-04
   days on market $169,900 Active 132 DOM
6. 2026-08-03
   days on market $169,900 Active 131 DOM
7. 2026-07-31
   days on market $169,900 Active 128 DOM
8. 2026-07-30
   days on market $169,900 Active 127 DOM
9. 2026-07-29
   days on market $169,900 Active 126 DOM
10. 2026-07-27
    days on market $169,900 Active 124 DOM
11. 2026-07-25
    days on market $169,900 Active 122 DOM
12. 2026-07-23
    days on market $169,900 Active 120 DOM
13. 2026-07-22
    days on market $169,900 Active 119 DOM
14. 2026-07-21
    days on market $169,900 Active 118 DOM
15. 2026-07-18
    days on market $169,900 Active 115 DOM
16. 2026-07-16
    days on market $169,900 Active 113 DOM
17. 2026-07-16
    pricedays on market $169,900 Active 112 DOM
18. 2026-07-14
    days on market $179,900 Active 111 DOM
19. 2026-07-13
    days on market $179,900 Active 110 DOM
20. 2026-07-12
    days on market $179,900 Active 109 DOM
21. 2026-07-11
    days on market $179,900 Active 108 DOM
22. 2026-07-10
    days on market $179,900 Active 107 DOM
23. 2026-07-09
    days on market $179,900 Active 106 DOM
24. 2026-07-08
    days on market $179,900 Active 105 DOM
25. 2026-07-07
    days on market $179,900 Active 104 DOM
26. 2026-07-06
    days on market $179,900 Active 103 DOM
27. 2026-07-05
    days on market $179,900 Active 102 DOM
28. 2026-07-04
    days on market $179,900 Active 101 DOM
29. 2026-07-03
    days on market $179,900 Active 100 DOM
30. 2026-07-02
    days on market $179,900 Active 99 DOM
31. 2026-07-01
    days on market $179,900 Active 98 DOM
32. 2026-06-30
    days on market $179,900 Active 97 DOM
33. 2026-06-29
    days on market $179,900 Active 96 DOM
34. 2026-06-28
    days on market $179,900 Active 95 DOM
35. 2026-06-28
    days on market $179,900 Active 94 DOM
36. 2026-06-27
    days on market $179,900 Active 93 DOM
37. 2026-06-26
    days on market $179,900 Active 92 DOM
38. 2026-06-22
    days on market $179,900 Active 89 DOM
39. 2026-06-21
    days on market $179,900 Active 88 DOM
40. 2026-06-19
    days on market $179,900 Active 86 DOM
41. 2026-06-18
    days on market $179,900 Active 85 DOM
42. 2026-06-17
    days on market $179,900 Active 84 DOM
43. 2026-06-16
    days on market $179,900 Active 83 DOM
44. 2026-06-15
    price $179,900 Active 82 DOM
45. 2026-06-15
    days on market $189,900 Active 82 DOM
46. 2026-06-14
    days on market $189,900 Active 80 DOM
47. 2026-06-13
    days on market $189,900 Active 79 DOM
48. 2026-06-10
    days on market $189,900 Active 77 DOM
49. 2026-06-09
    days on market $189,900 Active 76 DOM
50. 2026-06-08
    days on market $189,900 Active 75 DOM

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $1,983 · $165/mo
• Expected delta: +$39/yr (+$3/mo · 2.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $54,612
• − Mortgage interest: −$9,517
• − Property taxes: −$1,945
• − Insurance: −$850
• − Repairs & maintenance: −$4,369
• − Management: −$4,369
• − Depreciation: −$4,943
• Taxable income: $28,620
• Est. tax owed @ 24.0%: −$6,869
• After-tax cash flow: $22,789/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.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

A well-maintained triplex with good condition and potential for cosmetic upgrades to increase both resale and rental value.

Repairs flagged

• Major Kitchen appliances — Older and outdated
• Major Bathroom fixtures — Simple and dated design

Value-add opportunities

• Both New kitchen appliances — Modernizes the space and improves functionality ↑
• Both Bathroom renovation — Enhances aesthetics and functionality ↑
• Both Landscaping and curb appeal — Improves first impression and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Hunter Elementary F AK #122/156 Nat'l #30,133/41,679 Middle Ryan Middle School F AK #28/36 Nat'l #9,290/14,009 High Lathrop High School F AK #24/61 Nat'l #9,001/17,239

Schools (NCES district)

• District: Fairbanks North Star Borough School District
• NCES district ID: 0200600
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $69,697
• Composite: 35.5/100
• National rank: #4915
• State rank: #10 of 21 in AK

D Composite livability gradescore 57/100

Livability — Fairbanks

• Score: 57/100
• State rank: #95
• US rank: #21394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairbanks, AK
• County: Fairbanks North Star Borough · 101,607 people
• City population: 47,612
• Metro: Fairbanks, AK
• Population (ZIP): 18,061
• Household income: $75,668
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 9% of renters

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Population outlook (Fairbanks North Star County) Hauer SSP2

• Today (2025): 101,607 people
• By 2030: 102,796 · +1.2%
• By 2040: 104,748 · +3.1%
• By 2050: 107,598 · +5.9%
• By 2075: 118,829 · +16.9%
• By 2100: 127,151 · +25.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 59% Two or more races 14% Native American 12% Hispanic / Latino 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 86% English-only · Spanish 4% Korean 2% Tagalog/Filipino 2%

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Political lean MEDSL · Fairbanks North Star

• 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: ▼ -37.70%
• Current HPI: 156.1921
• Rent YoY: ▲ 1.62%
• Metro: Fairbanks, AK
• State GDP YoY: —
• F500 in state: 0

Price history

+116.8% since first listed

15 events — show timeline

• 2026-05-13 Price Changed $194,900 GFBR
• 2026-03-25 Listed $199,900 GFBR
• 2025-11-03 Listed $199,900 GFBR
• 2024-04-23 Rental Removed $1,200 APPFOLIO
• 2024-04-10 Listed for Rent $1,200 APPFOLIO
• 2024-03-14 Rental Removed $1,200 APPFOLIO
• 2023-12-07 Price Changed $1,200 APPFOLIO
• 2023-12-02 Listed for Rent — APPFOLIO
• 2022-12-16 Rental Removed — APPFOLIO
• 2018-12-20 Sold (Public Records) — Public Records
• 2016-07-28 Sold (Public Records) — Public Records
• 2016-07-28 Sold (MLS) — GFBR
• 2016-01-27 Listed $89,900 GFBR
• 2016-01-25 Listed $89,900 AKMLS
• 2008-06-20 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,945 · -10.0% YoY. Source: county tax records.