Is Anchorage, AK a good market for STR?
I found a few SFR properties in Anchorage, AK that will cashflow as STR and wondering if it's a good market to invest in. Even taking into account high occupancy during the season and low occupancy during the off-season (avg occupancy 60%):
- Purchase price: 600k
- Strategy: STR (5b4b 14 guests)
- STR income: 132.6k (Aridna data) / 11.05k monthly
- CoC: 17.5%
Here is another example, just a random on-market deal where number works:
- Purchase price: 550k
- Strategy: STR (5b2.5b 14 guests)
- STR income: 124k / 10.3k monthly
- CoC: 19.79%
Alternatively, I discovered a few small multifamily properties with a mix of LTR+MTR+STR to help with occupancy optimization, and I can see that on-market 4-plexes like this one with a cost of around 600k will cashflow and gross a similar 110k-120k yearly.
I see that population growth slowed down, and maintenance/utilities should be much higher due to harsh winters.
Does anyone here invest in this market?
Do I miss something in the analysis of the deal?