Duplex With Updated
For Sale
$465,000
7007 Mink Ave, Anchorage, AK 99504
Two-unit residential property with refreshed mechanical systems and varied bedroom configurations.
Property Size2,548 SF
Price / SF$182.50
Days on Market56
Property Features for 7007 Mink Ave
General Information
Standard status
Active
Size
2,548 SF
Property subtype
Multi-Family
Building Details
Year Built
1966
Listing Agency:
Real Broker Alaska
(907) 727-4279
Listed By:
Gary Cox · License #18039
Source:
Viewanchoragehouses
Added: Jul 6
Changed: Aug 28
Last Checked: Aug 29 at 10:26AM
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 Real Broker Alaska
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 2,548-square-foot property built in 1966. One unit offers three bedrooms, one and a half baths, and a one-car garage. The second unit includes three bedrooms, one and a half baths, and additional bedroom space created from a converted garage. Minor TLC is needed before occupancy.
Recent property updates include a newer roof, newer Anderson windows, updated boilers, and updated water heaters. The property is located at 7007 Mink Ave in Anchorage, Alaska, with the 99504 ZIP code.
Recent property updates include a newer roof, newer Anderson windows, updated boilers, and updated water heaters. The property is located at 7007 Mink Ave in Anchorage, Alaska, with the 99504 ZIP code.
Key Highlights
- 2,548‑square‑foot duplex built in 1966
- Two units, each with 3 bedrooms and 1.5 baths
- One unit includes a 1‑car garage
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
$37,418
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
8.05%
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%
$748,360
$748.4K
Cap Rate 7%
$534,543
$534.5K
Cap Rate 9%
$415,756
$415.8K
Market Conditions
NOI Build-Up for 2,548 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
$56.6K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.5K $20.98/SF
− OpEx
−$16.0K −$6.29/SF
NOI
$37.4K $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%
$748,360
Cap Rate 7%
$534,543
Cap Rate 9%
$415,756
Alternative Uses
Best Use
Multifamily LT 5
$534.5K
$467.7K – $623.6K
NOI $37,418 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$467.9K
$409.4K – $545.9K
NOI $32,751 @ 7.0% cap · market cap 7.04%
Theoretical Best
Specialty Retail
$691.9K
$605.4K – $807.2K
NOI $48,432 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99504, AK
42,375
Population
17,720
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
1,151
Density / Sq Mi
$83,338
Median Household Income
$46,883
Median Earnings
$1,529
Median Rent
$309,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with refreshed mechanical systems and varied bedroom configurations.
Where is this duplex located?
The property is located at 7007 Mink Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,548‑square‑foot duplex built in 1966; Two units, each with 3 bedrooms and 1.5 baths; One unit includes a 1‑car garage
