322 W Redoubt Ave · Soldotna, AK 99669

$2,999,000

960 bd · 576.0 ba · 6,144 sqft · MultiFamily public records · 115 Days on market

Built 1976 1.00 ac lot

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 24 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

Well-maintained 24-unit apartment complex consisting of three buildings in a prime Soldotna location near schools, shopping, and the hospital. The property includes 16 two-bedroom units and 8 one-bedroom units, with shared laundry facilities in each building and dedicated tenant storage. Two buildings are 7,296 SF each and one is 6,144 SF. Located on a paved, year-round maintained road with paved parking and backing directly to Sunrise Park, offering a desirable setting for tenants. Recent capital improvements include new roofs on all three buildings (2022), two new boilers (2022), and new rain gutters (2025). Strong investment opportunity in a high-demand rental area.

Key facts

• Paved parking
• New roofs
• Three buildings

Tags

• 24 UNIT APARTMENT COMPLEX
• THREE BUILDINGS
• SHARED LAUNDRY FACILITIES
• DEDICATED TENANT STORAGE
• PAVED PARKING
• NEW ROOFS

What this means for you Summary

Snapshot

• This is a 16×2bd/1ba + 8×1bd/1ba units multifamily listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive. Per door: $17/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.67M (10.8% below list).
• Recommended offer: $2.67M (10.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#7 in AK, #2,693 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A; Watch: amenities D+, commute F.
• Kenai Peninsula Borough School District (rural): math 35% / reading 48% proficiency, ranked #8 of 21 in AK (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 227 active listings in the ZIP; 152 units permitted in Kenai Peninsula Borough in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $21k of loan paydown is wiped out by about $90k of value loss. Plan a longer hold.
• Kenai Peninsula County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($2.73M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $351k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $2,674,800 (10.8% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 11% 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 1976 — 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 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.3

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-459,736
• Equity at exit: $447,161

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-365,434
• Equity at exit: $259,299

Cash invested: $839,720 (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 99669

• Home prices YoY: -26.1%
• Active inventory: 227
• Price-to-rent: 218.9×

Monthly cashflow live

• Estimated rent: $26,748 medium
• Mortgage (P&I): −$15,727
• Tax est. 1.5%: −$3,749 /mo · $44,985/yr
• Insurance: −$1,250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,617
• Net cashflow: $406

Break-even live

Break-even rent $26,235

Max offer price $2,999,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$18,272
▸ 8× units	1	1	$8,480
Total (24 units)			$26,748

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: $749,750
• Closing costs: $89,970
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $2,999,000 Active 115 DOM
2. 2026-06-18
   days on market $2,999,000 Active 114 DOM
3. 2026-06-17
   days on market $2,999,000 Active 113 DOM
4. 2026-06-16
   days on market $2,999,000 Active 112 DOM
5. 2026-06-15
   days on market $2,999,000 Active 111 DOM
6. 2026-06-14
   days on market $2,999,000 Active 109 DOM
7. 2026-06-12
   days on market $2,999,000 Active 108 DOM
8. 2026-06-09
   days on market $2,999,000 Active 105 DOM
9. 2026-06-08
   days on market $2,999,000 Active 104 DOM
10. 2026-06-07
    days on market $2,999,000 Active 103 DOM
11. 2026-06-07
    days on market $2,999,000 Active 102 DOM
12. 2026-06-04
    pricedays on market $2,999,000 Active 99 DOM
13. 2026-06-02
    days on market $3,350,000 Active 98 DOM
14. 2026-06-01
    days on market $3,350,000 Active 97 DOM
15. 2026-05-31
    days on market $3,350,000 Active 96 DOM
16. 2026-05-31
    days on market $3,350,000 Active 95 DOM
17. 2026-02-24
    status Active 677-char remark

    Show marketing remark (677 chars)

    Well-maintained 24-unit apartment complex consisting of three buildings in a prime Soldotna location near schools, shopping, and the hospital. The property includes 16 two-bedroom units and 8 one-bedroom units, with shared laundry facilities in each building and dedicated tenant storage. Two buildings are 7,296 SF each and one is 6,144 SF. Located on a paved, year-round maintained road with paved parking and backing directly to Sunrise Park, offering a desirable setting for tenants. Recent capital improvements include new roofs on all three buildings (2022), two new boilers (2022), and new rain gutters (2025). Strong investment opportunity in a high-demand rental area.

18. 2026-02-23
    listed $3,350,000 Active 677-char remark

    Show marketing remark (677 chars)

    Well-maintained 24-unit apartment complex consisting of three buildings in a prime Soldotna location near schools, shopping, and the hospital. The property includes 16 two-bedroom units and 8 one-bedroom units, with shared laundry facilities in each building and dedicated tenant storage. Two buildings are 7,296 SF each and one is 6,144 SF. Located on a paved, year-round maintained road with paved parking and backing directly to Sunrise Park, offering a desirable setting for tenants. Recent capital improvements include new roofs on all three buildings (2022), two new boilers (2022), and new rain gutters (2025). Strong investment opportunity in a high-demand rental area.

19. 2016-06-22
    listed $1,330,000
20. 2006-03-06
    listed $1,200,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $320,976
• − Mortgage interest: −$167,991
• − Property taxes: −$44,985
• − Insurance: −$14,995
• − Repairs & maintenance: −$25,678
• − Management: −$25,678
• − Depreciation: −$87,244
• Taxable loss: −$45,594
• Est. tax savings @ 24.0%: +$10,943
• After-tax cash flow: $15,809/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: Kenai Peninsula Borough School District
• NCES district ID: 0200390
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $60,704
• Composite: 36.71/100
• National rank: #4594
• State rank: #8 of 21 in AK

Livability — Soldotna

• Score: 78/100
• State rank: #7
• US rank: #2693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Soldotna, AK
• Population (ZIP): 15,722

Population outlook (Kenai Peninsula County) Hauer SSP2

• Today (2025): 63,736 people
• By 2030: 66,260 · +4.0%
• By 2040: 70,449 · +10.5%
• By 2050: 74,414 · +16.8%
• By 2075: 87,508 · +37.3%
• By 2100: 95,360 · +49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Native American 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 4% Italian 4% Romanian 4%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Kenai Peninsula

• 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: ▼ -61.58%
• Current HPI: 174.4233
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+179.2% since first listed

4 events — show timeline

• 2026-02-24 Relisted — AKMLS
• 2026-02-23 Listed $3,350,000 AKMLS
• 2016-06-22 Listed $1,330,000 AKMLS
• 2006-03-06 Listed $1,200,000 AKMLS

Property tax history

-9.1%/yr

Latest (2025): $909 · -9.0% YoY. Source: county tax records.