Duplex with Two
For Sale
$380,000
4208 McPhee Ave, Anchorage, AK 99508
Ranch-style residence currently configured for single-family use and refreshed with new interior paint.
Property Size2,132 SF
Price / SF$178.24
Days on Market14
Property Features for 4208 McPhee Ave
General Information
Standard status
Active
Size
2,132 SF
Property subtype
Multi-Family
Building Details
Year Built
1969
Construction
Ranch-style
Listing Agency:
Herrington and Company, LLC
Listed By:
Paul Lambert
(907) 263-9333
Source:
Kristancole
Added: Aug 28
Changed: Sep 8
Last Checked: Sep 9 at 8:44PM
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 Herrington and Company, LLC
Investment Insights
Based on property information with market context.
Located at 4208 McPhee Ave in Anchorage, this 2,132-square-foot ranch-style property was built in 1969 and is currently arranged as a single-family home. The interior includes two kitchens, providing a layout that retains duplex-oriented functionality while serving its present residential configuration.
Fresh interior paint updates the living spaces. The property can be converted back to duplex use, offering a flexible configuration for an owner seeking either a single residence or a return to its original duplex format.
Fresh interior paint updates the living spaces. The property can be converted back to duplex use, offering a flexible configuration for an owner seeking either a single residence or a return to its original duplex format.
Key Highlights
- 2,132‑square‑foot ranch‑style property
- Currently configured as a single‑family home
- Two kitchens remain in the layout
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
$31,309
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
8.24%
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%
$626,180
$626.2K
Cap Rate 7%
$447,271
$447.3K
Cap Rate 9%
$347,878
$347.9K
Market Conditions
NOI Build-Up for 2,132 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
$47.3K $22.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$44.7K $20.98/SF
− OpEx
−$13.4K −$6.29/SF
NOI
$31.3K $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%
$626,180
Cap Rate 7%
$447,271
Cap Rate 9%
$347,878
Alternative Uses
Best Use
Multifamily LT 5
$447.3K
$391.4K – $521.8K
NOI $31,309 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$391.5K
$342.6K – $456.7K
NOI $27,404 @ 7.0% cap · market cap 7.21%
Theoretical Best
Specialty Retail
$578.9K
$506.6K – $675.4K
NOI $40,525 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 99508, AK
34,394
Population
14,219
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,844
Density / Sq Mi
$72,751
Median Household Income
$40,937
Median Earnings
$1,353
Median Rent
$309,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style residence currently configured for single-family use and refreshed with new interior paint.
Where is this duplex located?
The property is located at 4208 McPhee Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 2,132‑square‑foot ranch‑style property; Currently configured as a single‑family home; Two kitchens remain in the layout
