1980 Milky Way, Fairbanks, AK, 99712
About This Home
Private, versatile, and packed with Alaska charm, 1980 Milky Way offers the kind of setup that’s getting harder to find. Situated on 7.35 wooded acres, this 1,725 square foot, 2 bedroom, 1 bath home combines rustic character with practical function in a peaceful, tucked-away setting. Built with energy-efficient double wall construction, the home was designed for comfort in Alaska’s climate while offering warm natural wood finishes and a distinctive lodge-like feel. Expansive wraparound decking creates multiple places to relax, entertain, and take in the surrounding trees and privacy. This property shines well beyond the main home. A 1,022 square foot heated garage/shop offers outstanding space for projects, storage, equipment, or recreational toys, while the 280 square foot guest cabin adds flexible room for guests, hobbies, or workspace. Several additional sheds and outbuildings provide even more storage and utility. Previously home to a family with horses, the acreage offers excellent potential for a hobby farm, animals, or anyone looking for room to live a more self-sufficient lifestyle. If you’ve been searching for a property with privacy, usable acreage, outbuildings, and true Alaska character, this one deserves a look.
Getting Around
Car-Dependent
No Nearby Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: 31 + yrs
- Year built: 1982
Materials
- Foundation: Other
- Roof: Shingle
- Construction materials: Lap Siding,Double Wall
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Range/Oven,Dishwasher,Refrigerator,Washer,Dryer
- Laundry features: Upper Level
Basement
- Basement: None
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Features
- Window features: Vinyl
- Flooring: Hardwood
Heating
- Heating features: Wood Stove,Monitor/Toyo
Interior Area
- Total structure area: 1,725
- Total interior livable area: 1,725 sqft
Property
Details
- Parcel number: 0676041
- Zoning: UNK
- Zoning description: General Use District - 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck/Patio
- Exterior features: Horse Property,Lawn,Natural
- Fencing: Fenced
- Horses can be raised: Yes
Lot
- Lot size: 7.35 Acres
Parking
- Total spaces: 2
- Parking features: RV Access/Parking,Detached/HTD
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Landslide
- Wildfire
- Winter Weather
- Lightning
- Earthquake
How This Home’s Risks Compare
FEMA Declared Disasters in Fairbanks North Star Borough and Alaska
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,275 | $27,300 |
| Home Insurance | $188 | $2,256 |
| Property Taxes | $449 | $5,388 |
| Electricity | $318 | $3,820 |
| Total | $3,230 | $38,760 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-18 | Price change | $445,000 |
| 2026-07-10 | Price change | $450,000 |
| 2022-08-04 | Listed for sale | $399,500 |
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