896 E Bobo Loop · King Salmon, AK 99613

$299,000

9 bd · 6.9 ba · 4,562 sqft · MultiFamily · 87 Days on market

Built 1984 Fair condition 2.00 ac lot ↓ 24% 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Income-producing multifamily property fully rented and ready for its next owner. Priced competitively for a quick sale, this is an ideal opportunity for investors seeking immediate cash flow and long-term potential.

Key facts

• 2 acre lot
• 12 parking spots
• Built 1984

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $299k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#19 in AK) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, schools D-, crime F.
• Bristol Bay Borough School District (rural): math 20% / reading 20% proficiency, ranked #34 of 53 in AK (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Bristol Bay Borough in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Bristol Bay County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.12%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.4%
• Equity multiple: 2.50×
• Total profit: $125,466
• Equity at exit: $134,443

10-year hold

• IRR: 27.1%
• Equity multiple: 4.84×
• Total profit: $321,520
• Equity at exit: $207,193

Cash invested: $83,720 (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 99613

• Active inventory: 1
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $4,392 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$922
• Net cashflow: $1,403

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$4,392
Total (3 units)			$4,392

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $299,000 Active 87 DOM
2. 2026-06-18
   days on market $299,000 Active 86 DOM
3. 2026-06-17
   days on market $299,000 Active 85 DOM
4. 2026-06-16
   days on market $299,000 Active 84 DOM
5. 2026-06-15
   days on market $299,000 Active 83 DOM
6. 2026-06-14
   days on market $299,000 Active 81 DOM
7. 2026-06-12
   days on market $299,000 Active 80 DOM
8. 2026-06-09
   days on market $299,000 Active 77 DOM
9. 2026-06-08
   days on market $299,000 Active 76 DOM
10. 2026-06-07
    days on market $299,000 Active 75 DOM
11. 2026-06-07
    days on market $299,000 Active 74 DOM
12. 2026-06-04
    days on market $299,000 Active 71 DOM
13. 2026-06-02
    days on market $299,000 Active 70 DOM
14. 2026-06-01
    days on market $299,000 Active 69 DOM
15. 2026-05-31
    days on market $299,000 Active 68 DOM
16. 2026-05-31
    days on market $299,000 Active 67 DOM
17. 2026-03-24
    listed $299,000 Active 215-char remark

    Show marketing remark (215 chars)

    Income-producing multifamily property fully rented and ready for its next owner. Priced competitively for a quick sale, this is an ideal opportunity for investors seeking immediate cash flow and long-term potential.

18. 2026-01-16
    listed $299,000 Active
19. 2025-06-09
    price $325,000
20. 2025-01-16
    listed $395,000 Active
21. 2023-09-11
    listed $395,000 Active

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

Taxation est. · year 1

• Rental income: $52,704
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,216
• − Management: −$4,216
• − Depreciation: −$8,698
• Taxable income: $12,845
• Est. tax owed @ 24.0%: −$3,083
• After-tax cash flow: $13,758/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 · 12 photos

Fair 45/100 Moderate rehab

This multifamily property requires moderate renovations to improve its exterior and interior condition, enhancing its resale and rental value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Exterior wood — Exposed and deteriorating
• Major Landscaping — Overgrown and unkempt

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves living space and rental appeal
• Both Landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Exterior wood · Exposed and deteriorating	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves living space and rental appeal ↑
• Both Landscaping — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bristol Bay Borough School District
• NCES district ID: 0200030
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 20% ▼ -10.00%
• Median HH income: $74,901
• Composite: 23.53/100
• National rank: #13277
• State rank: #34 of 53 in AK

Livability — King Salmon

• Score: 68/100
• State rank: #19
• US rank: #9215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: King Salmon, AK
• Population (ZIP): 422

Population outlook (Bristol Bay County) Hauer SSP2

• Today (2025): 787 people
• By 2030: 748 · -5.0%
• By 2040: 674 · -14.4%
• By 2050: 606 · -23.0%
• By 2075: 596 · -24.3%
• By 2100: 677 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: White 43% Native American 28% Two or more races 17% Hispanic / Latino 8% Asian 7% Black 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Iranian 3% Slovak 3% Lithuanian 1%
• Foreign-born: 2%
• Languages at home: 83% English-only · Spanish 3% Tagalog/Filipino 3% German/W. Germanic 1%

Political lean MEDSL · Bristol Bay

• 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-24.3% since first listed

5 events — show timeline

• 2026-03-24 Listed $299,000 AKMLS
• 2026-01-16 Listed $299,000 AKMLS
• 2025-06-09 Price Changed $325,000 AKMLS
• 2025-01-16 Listed $395,000 AKMLS
• 2023-09-11 Listed $395,000 AKMLS