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    The Largest CRE Database in the US with Over 1 Million Listings

    11966 W La Rae Road Houston, AK 99623

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    Claim this Listing
    Pending
    $810,000

    MULTI_FAMILY - Houston, AK

    Property size:
    2,669 SF
    Lot size:
    3.00 Acres
    Added:
    Feb 13, 2026
    Days on Market:
    70
    Last Refresh:
    Apr 24 at 4:06 am

    Property Features for 11966 W La Rae Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    UNK - Unknown (re: all MS
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Dining Room, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 3
    Parking features
    Tuck Under, Heated
    Standard status
    Pending
    APN
    1681B02L005
    Size
    2,669 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Description
    Capitol Corridors L5 B2

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Wood Stove, Wood, Forced Air

    Building Details

    Year built
    2022
    Number of units
    2
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Wood Frame - 2x6
    Roof type
    Asphalt, Shingle, Composition

    We can help!

    Listing Contact
    Elena Novitsky-Mabeus

    Listing agent Elena Novitsky-Mabeus License #15057

    Listing office Berkshire Hathaway HomeServices Alaska Realty 561 E 36th Ave Ste 200, Anchorage, AK

    Listing date Feb 13, 2026

    MLS# 26-1373 Listing URL

    Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Two Homes on Large Lot

    This property features two separate homes situated on a 3-acre lot in a quiet setting less than a mile from the highway. The property includes a 34' x 56' shop/garage and an additional 2+ car garage with 830 square feet. The owner's unit provides 1873 square feet of living space and a 2016 square foot garage. The guest house offers 734 square feet of living space and a 612 square foot garage. The homes feature oversized windows, high vaulted ceilings, and distinctive, artistic upgrades. The smaller home is currently used as a successful Airbnb and could serve as a guest house or provide full-time passive income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Houston
    County
    Matanuska-Susitna
    State
    Alaska
    Longitude
    -149.444
    Latitude
    61.5841

    FAQs

    What type of property is this?
    Short term rental property - Two homes on a 3-acre lot with shop/garage.
    Where is this short term rental property located?
    The property is located at 11966 W La Rae Road Houston, AK.
    What is the asking price?
    The asking price for this property is $810,000.
    What are key features of this property?
    This property features: Two separate homes on one lot, offering flexibility for living and income potential.; Successful AirBNB guest house provides immediate passive income opportunity.; **Large 34' x 56' shop/garage** plus an additional 2+ car garage (830 SF) provides ample space for vehicles, hobbies, or storage.
    (907) 240-4369
    We can help!
    Listing Contact
    Elena Novitsky-Mabeus
    Real Estate License ID: 15057
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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