236 Lyman Ave · Hilo, HI 96720

$200,000

3 bd · 2.0 ba · 1,043 sqft · SingleFamily public records · 299 Days on market

Built 1977 0.50 ac lot ↓ 33% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

Key facts

• Prime location
• 0.5 acre lot
• Built 1977

Tags

• LEASEHOLD HAWAIIAN HOMESTEAD
• CLOSE PROXIMITY TO THE OCEAN
• MINUTES FROM THE BEACH
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 1.8% in Hilo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#58 in HI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: crime C-, amenities F, commute F.
• Hawaii Department Of Education (suburban): math 32% / reading 50% proficiency, ranked #1 of 1 in HI (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 135 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.63%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-6,726
• Equity at exit: $29,821

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $27,309
• Equity at exit: $17,292

Cash invested: $56,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 37 Tenant-Leaning
• State Hawaii: 37 Tenant-Leaning · D+13
• County: — inherits STATE
• City: — inherits STATE

Honolulu has source-of-income protections; warranty of habitability strong.

Methodology + full state rankings →

ZIP-level market 96720

• Active inventory: 135
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,259 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $403

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 77%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1875 Kalanianaole St Hilo, HI	2.0	1.0	720	$2,100	$2.92	43d	2	1.02mi

Listing history 25 events

1. 2026-06-18
   days on market $200,000 Active 299 DOM
2. 2026-06-17
   days on market $200,000 Active 298 DOM
3. 2026-06-15
   days on market $200,000 Active 296 DOM
4. 2026-06-13
   days on market $200,000 Active 294 DOM
5. 2026-06-13
   days on market $200,000 Active 293 DOM
6. 2026-06-10
   days on market $200,000 Active 291 DOM
7. 2026-06-09
   days on market $200,000 Active 290 DOM
8. 2026-06-08
   days on market $200,000 Active 289 DOM
9. 2026-06-07
   days on market $200,000 Active 288 DOM
10. 2026-06-05
    days on market $200,000 Active 285 DOM
11. 2026-06-03
    days on market $200,000 Active 284 DOM
12. 2026-06-02
    days on market $200,000 Active 283 DOM
13. 2026-06-01
    days on market $200,000 Active 282 DOM
14. 2026-05-31
    days on market $200,000 Active 281 DOM
15. 2026-05-14
    status Active 742-char remark

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

16. 2026-05-01
    historical 742-char remark

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

17. 2026-04-21
    price $200,000 742-char remark

    Show marketing remark (881 chars)

    This is a Hawaiian Homestead DHHL Land and must qualify for DHHL Homestead. Must be Native Hawaiian to purchase. Located in the heart of Keaukaha, this Hawaiian Homestead property is truly a hidden gem. Known for its strongsense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-afterneighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best ofisland living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While thecondition is below average and will require renovation, it's a great opportunity for someone looking to restore orreimagine a property in a prime location. With some vision and effort, this could be your perfect slice of Keaukahaparadise. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands.

18. 2026-04-21
    price $200,000 881-char remark

    Show marketing remark (881 chars)

    This is a Hawaiian Homestead DHHL Land and must qualify for DHHL Homestead. Must be Native Hawaiian to purchase. Located in the heart of Keaukaha, this Hawaiian Homestead property is truly a hidden gem. Known for its strongsense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-afterneighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best ofisland living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While thecondition is below average and will require renovation, it's a great opportunity for someone looking to restore orreimagine a property in a prime location. With some vision and effort, this could be your perfect slice of Keaukahaparadise. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands.

19. 2026-03-24
    price $235,000 742-char remark

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

20. 2026-03-22
    listed $235,000 Active 881-char remark

    Show marketing remark (881 chars)

    This is a Hawaiian Homestead DHHL Land and must qualify for DHHL Homestead. Must be Native Hawaiian to purchase. Located in the heart of Keaukaha, this Hawaiian Homestead property is truly a hidden gem. Known for its strongsense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-afterneighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best ofisland living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While thecondition is below average and will require renovation, it's a great opportunity for someone looking to restore orreimagine a property in a prime location. With some vision and effort, this could be your perfect slice of Keaukahaparadise. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands.

21. 2026-03-18
    historical
22. 2025-09-24
    price $260,000 742-char remark

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

23. 2025-09-24
    price $260,000

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

24. 2025-08-11
    listed $300,000 Active 742-char remark

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

25. 2025-08-11
    listed $300,000 Active

    Show marketing remark (742 chars)

    This is a leasehold property. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands to purchase. Located in the heart of Keaukaha, this Leasehold Hawaiian Homestead property is truly a hidden gem. Known for its strong sense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-after neighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best of island living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While the condition is below average and will require renovation, it's a great opportunity for someone looking to restore or reimagine a property in a prime location.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $27,112
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − Depreciation: −$5,818
• Taxable income: $1,753
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $4,412/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hawaii Department Of Education
• NCES district ID: 1500030
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $69,005
• Composite: 37.07/100
• National rank: #4504
• State rank: #1 of 1 in HI

Livability — Hilo

• Score: 65/100
• State rank: #58
• US rank: #13484

Category grades

Amenities F Commute F Cost of living F Crime C- Employment B- Housing B+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hilo, HI
• County: Hawaii County · 119,311 people
• City population: 52,979
• Metro: Hilo, HI
• Population (ZIP): 52,979
• Household income: $80,938
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1617.0

Population outlook (Hawaii County) Hauer SSP2

• Today (2025): 220,733 people
• By 2030: 232,156 · +5.2%
• By 2040: 252,486 · +14.4%
• By 2050: 272,703 · +23.5%
• By 2075: 332,113 · +50.5%
• By 2100: 398,342 · +80.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.86)
• Race & ethnicity: Two or more races 36% Asian 31% White 17% Pacific Islander 14% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Russian 7% Italian 1% Lithuanian 1%
• Foreign-born: 10% · China, Canada, South Korea
• Languages at home: 76% English-only · Other Asian/Pacific 13% Spanish 2% Tagalog/Filipino 2%

Political lean MEDSL · Hawaii

• 2024 margin: Strong D (+28.3) · D 63.0% · R 34.7% · Other 2.3%
• 2008→2024 swing: -25.4pp toward R · 2008: 53.7pp · 2024: 28.3pp
• All cycles: 2024: D+28.3 2020: D+36.2 2016: D+36.6 2012: D+51.3 2008: D+53.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -358.67%
• Current HPI: 173.2932
• Rent YoY: —
• Metro: Hilo, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-33.3% since first listed

11 events — show timeline

• 2026-05-14 Relisted — HI Information Service
• 2026-05-01 Listing Removed — HI Information Service
• 2026-04-21 Price Changed $200,000 HI Information Service
• 2026-04-21 Price Changed $200,000 HiCentral MLS
• 2026-03-24 Price Changed $235,000 HI Information Service
• 2026-03-22 Listed $235,000 HiCentral MLS
• 2026-03-18 Listing Removed — HiCentral MLS
• 2025-09-24 Price Changed $260,000 HI Information Service
• 2025-09-24 Price Changed $260,000 HiCentral MLS
• 2025-08-11 Listed $300,000 HiCentral MLS
• 2025-08-11 Listed $300,000 HI Information Service

Property tax history

+5.5%/yr

Latest (2025): $200 · -91.1% YoY. Source: county tax records.