Sales comparison approach using recent sale of subject property and comparable sales in the neighborhood. Adjusted for property size, condition, and unique features. Assessed value of $517,300 appears below market.
Ranch-Style Home with Vaulted Addition and Mountain Views
What sets this North Star residence apart is the two-story addition that rises above the original ranch footprint, creating vaulted ceilings and a sense of scale rare for a mid-century home. Step inside to well-preserved hardwood floors and a wood-burning fireplace that anchors the main living space. The addition introduces generous vertical volume and flexible living areas — perfect for a playroom, home office, or a primary suite with elevated sight lines toward the Chugach Mountains.
The kitchen and adjoining rooms retain a comfortable, lived-in character while offering an opportunity to personalize finishes to your taste. Practical features for Anchorage life include baseboard heating, a large unfinished basement ready for finishing, and a 2-car attached garage with heated floors that eases winter mornings and gear storage. RV parking beside the driveway expands vehicle options and supports active, outdoors-focused lifestyles.
Outside, the quarter-acre lot gives you a private backyard framed by mature landscaping and room for gardening, entertaining, or a future deck. From this Hillcrest Drive address you’re about 0.5 miles from Westchester Lagoon and the Coastal Trail — ideal for biking, birdwatching, and waterfront walks — and roughly 1.5 miles to downtown Anchorage when you want restaurants or cultural events. Romig Middle School and West High are both within a few blocks, making school runs quick and walkable.
Practicality meets potential throughout: a large unfinished basement provides a clear path to add square footage and value, while the home’s condition is described as good, reflecting thoughtful upkeep since the 1951 build. With no HOA restrictions, the property appeals to buyers who want flexibility — whether that means finishing the basement, creating an accessory dwelling under R1 zoning allowances, or expanding outdoor amenities. This is a home that balances original character, useful upgrades, and proximity to Anchorage’s best outdoor assets.
See the properties helping shape the valuation.
Comparable sales
- 574 SF larger
- 1 additional bathroom
- 2,740 SF smaller lot
- 31 years newer
- 53 SF smaller
- 2 fewer bedrooms
- 0.5 fewer bathrooms
- 28 years newer
A 1951 ranch with addition on 0.25 acres.
Building
Site & utilities
North Star
Researched nearby locations
Location
1331 Hillcrest Drive, Anchorage, Alaska 99503
North Star is a residential neighborhood prized for its proximity to Anchorage’s best outdoor corridors and short rides into downtown. Streets here are lined with mature trees and a mix of mid-century and updated homes; residents value walkability, nearby schools, and direct access to the Coastal Trail and Westchester Lagoon for year-round recreation. Local life blends quiet, family-friendly blocks with quick access to city amenities, cultural venues, and waterfront routes.
Excellent trail and waterfront access: Westchester Lagoon and the Coastal Trail are about 0.5 miles away for biking, walking, and birding; downtown amenities are within 1.5 miles for cultural and dining options.
A factual market snapshot around 1331 Hillcrest Drive.
The North Star micro-market remains competitive, driven by limited inventory and strong preference for single-family homes near the Coastal Trail and Westchester Lagoon. Recent data points show this property sold in early 2024 for $624,900; current automated valuations center around a $609,500 midpoint (range $576k–$643k) while the 2025 assessed value is $517,300. Those figures indicate market pricing modestly above assessment, a pattern consistent with steady appreciation in the neighborhood. Comparable recent sales on Hillcrest Drive show price-per-square-foot values in the mid-to-high $200s, with a nearby 4BR sale and a townhouse sale providing local benchmarks. Days on market and inventory months are not robustly available for this immediate pocket, but qualitative indicators — low visible inventory and active demand for homes with outdoor access and school proximity — point to a seller-leaning environment. For buyers, actuarial rents and a rent-per-square-foot estimate (~$1.54/sf) underscore rental demand if considering a hold strategy; for sellers, the combination of limited supply and desirable walkability (estimated 75/100) supports listing with confidence, while attention to potential tax reassessment is advised given recent sale activity.
Single Family Residential
Zoning
Research-indicated uses
- Single Family
- Accessory Dwelling Unit
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
What the research supports — and what is still worth verifying.
Key findings
- Sold on February 29, 2024, for $624,900 after a price reduction
- 2025 assessed value: $517,300; annual property tax: $6,983
- Zoned R1 - Single Family Residential
- Located 0.5 miles from Westchester Lagoon and Coastal Trail
- Romig Middle School (8/10) and West High School (5/10) within 0.3 miles
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify age and condition of roof and HVAC systems
- Review any recent renovations or updates
- Assess potential for property tax reassessment
What stands out about this property.
Interior Features
- Hardwood floors throughout main living areas
- Wood-burning fireplace
- Vaulted ceilings in two-story addition
- Large unfinished basement — development potential
- Baseboard heating
- 4 bedrooms and 3 bathrooms
Exterior & Lot
- 0.25-acre level lot with private backyard
- 2-car attached garage with heated floor
- Additional RV parking
- Asphalt shingle roof
- Frontage on Hillcrest Drive
Location & Neighborhood
- 0.5 miles to Westchester Lagoon and the Coastal Trail
- 1.5 miles to Downtown Anchorage
- Romig Middle School and West High School within walking distance
- Residential North Star neighborhood — quiet streets with mature landscaping
- Zoned R1 (single-family residential; accessory units allowed)
Walkability & Recreation
- Walkability Rating: 75/100 — Some errands on foot
- Westchester Lagoon (0.5 mi) and Coastal Trail (0.5 mi) for walking, biking, birding
- Short walks to neighborhood schools and local green spaces
- Easy bike or short drive to downtown amenities and dining
- Community-oriented, pedestrian-friendly residential streets
Sources & research confidence.
See where the property research came from and how confidence varies by field.