Remodeled Duplex with
For Sale
$519,000
Pending
3909 Cope Street, Anchorage, AK 99503
Both residences feature updated interiors and private in-unit laundry for practical everyday living.
Property Size2,238 SF
Days on Market140
Property Features for 3909 Cope Street
General Information
Standard status
Pending
Size
2,238 SF
Property subtype
Multi-Family
Building Details
Building Size
2,238 SF
Year Built
1954
Listing Agency:
RMG Real Estate
(907) 707-6141
Listed By:
Heather Denton
Source:
Keiradrehergroup.kw
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 12:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RMG Real Estate
Investment Insights
Based on property information with market context.
This duplex at 3909 Cope Street in Anchorage includes two bedrooms in each unit, with updated kitchens, refreshed bathrooms, new flooring, and fresh paint throughout. Each residence also has its own washer and dryer, supporting convenient day-to-day use.
A large detached three-car garage adds substantial accessory space to the property. Originally built in 1954, the duplex combines a two-unit layout with a range of interior improvements.
A large detached three-car garage adds substantial accessory space to the property. Originally built in 1954, the duplex combines a two-unit layout with a range of interior improvements.
Key Highlights
- Two‑bedroom layout in each of the two units
- Updated kitchens and refreshed bathrooms in both units
- New flooring and fresh paint throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,866
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$657,320
$657.3K
Cap Rate 7%
$469,514
$469.5K
Cap Rate 9%
$365,178
$365.2K
Market Conditions
NOI Build-Up for 2,238 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.7K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$47.0K $20.98/SF
− OpEx
−$14.1K −$6.29/SF
NOI
$32.9K $14.69/SF
Area
Anchorage, AK
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$657,320
Cap Rate 7%
$469,514
Cap Rate 9%
$365,178
Alternative Uses
Best Use
Multifamily LT 5
$469.5K
$410.8K – $547.8K
NOI $32,866 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$410.9K
$359.6K – $479.4K
NOI $28,766 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$607.7K
$531.8K – $709.0K
NOI $42,540 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature updated interiors and private in-unit laundry for practical everyday living.
Where is this duplex located?
The property is located at 3909 Cope Street Anchorage, AK.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑bedroom layout in each of the two units; Updated kitchens and refreshed bathrooms in both units; New flooring and fresh paint throughout
