Tax Assessor v. Market Price

[Michael Rogers]

We're dipping our toe in the water pending a move to the Fairbanks area next year and doing some research on a multifamily in either the N.Pole or Fairbanks area. After doing a bit of research, it seems that a lot of folks are asking well above the assessed value, is that common in this market? I've been in other markets where selling prices were 50% over assessed and some markets where the assessed and sell price tracked very closely.

Running the numbers on the calculator sure didn't inspire much confidence for a cash on cash return at the asking prices as advertised!