15-2822 Mano St · Hawaiian Beaches, HI 96778

$229,000

3 bd · 2.5 ba · 1,164 sqft · SingleFamily public records · 64 Days on market

Built 2000 0.39 ac lot $197/sqft · 15% below area Est $270k · 15% under $39/mo HOA · 2% of rent

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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 +22.1/30.0
• ARV discount +14.3/15.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great deal on a home in Hawaiian Shores! Home needs some TLC but has good bones and is located in a quiet location on an oversized, fully fenced lot at the very end of Mano St. To be sold together with the adjacent vacant parcel for a total of 31,754 sq. ft. (nearly 3/4 acre). See MLS #730174, listed at $21K. Nearest neighbor is 3 lots away. Maximize your elbow room and privacy! Great upside potential! The house was built in 2000. Seller started interior renovations but is unable to finish. Here’s your chance to purchase a good home at a great price and make it shine again. Sold As-Is. The house sits on an oversized parcel, at 17,134 sq. ft. (per county records). As a Hawaiian Shores Recreational Estates owner, you’ll enjoy the conveniences of a community water well system (no unsightly catchment tank), paved streets, mail delivery, cable, Internet, and two parks with amenities, such as a community swimming pool, playground, Pickleball courts, picnic cabanas, activities, and more. Minimal CCRs help maintain the integrity of the neighborhood. Flood zone X. Lava zone 2.

Key facts

• Quiet location
• Interior renovations
• Oversized lot

Tags

• QUIET LOCATION
• FULLY FENCED LOT
• OVERSIZED LOT
• INTERIOR RENOVATIONS
• COMMUNITY WATER WELL SYSTEM
• PAVED STREETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (2.8% below list).
• Recommended offer: $215k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.8% in Hawaiian Beaches — 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 55/100 on livability (#128 in HI) — a working-class tenant base; expect higher turnover. Strengths: housing B; Watch: health & safety C-, schools D+, amenities 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: 389 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 64 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $229k implies a 154% gain — meaningful room to come down on a strong offer.

Recommended offer $215,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

• ARV (median comp): $269,747
• List price: $229,000
• Delta: -15.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15-2785 Manini St	0.18mi	3/2.0	1,056 (-9%)	15mo	$215,000	$204	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-13,799
• Equity at exit: $34,145

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $17,765
• Equity at exit: $19,800

Cash invested: $64,120 (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 96778

• Home prices YoY: -15.3%
• Active inventory: 389
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,227 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$56 /mo · $677/yr
• Insurance: −$95
• HOA: −$39
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $367

Break-even live

Break-even rent $1,762

Max offer price $229,000

Occupancy floor 78%

Sensitivity live

Price	-10% $497	-5% $432	+0% $367	+5% $302	+10% $238
Rent	-10% $191	-5% $279	+0% $367	+5% $455	+10% $543
Rate	-1.0pp $483	-0.5pp $426	base $367	+0.5pp $308	+1.0pp $248

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $39 · $468/yr
• Likely covers: waterinternetcablepool

Listing history 23 events

1. 2026-06-21
   days on market $229,000 Active 64 DOM
2. 2026-06-18
   days on market $229,000 Active 61 DOM
3. 2026-06-17
   days on market $229,000 Active 60 DOM
4. 2026-06-16
   days on market $229,000 Active 59 DOM
5. 2026-06-15
   days on market $229,000 Active 58 DOM
6. 2026-06-13
   days on market $229,000 Active 56 DOM
7. 2026-06-13
   days on market $229,000 Active 55 DOM
8. 2026-06-10
   days on market $229,000 Active 53 DOM
9. 2026-06-09
   days on market $229,000 Active 52 DOM
10. 2026-06-08
    days on market $229,000 Active 51 DOM
11. 2026-06-07
    days on market $229,000 Active 50 DOM
12. 2026-06-05
    days on market $229,000 Active 47 DOM
13. 2026-06-03
    days on market $229,000 Active 46 DOM
14. 2026-06-02
    days on market $229,000 Active 45 DOM
15. 2026-06-01
    days on market $229,000 Active 44 DOM
16. 2026-05-31
    days on market $229,000 Active 43 DOM
17. 2026-05-05
    price $229,000 1098-char remark

    Show marketing remark (1098 chars)

    Great deal on a home in Hawaiian Shores! Home needs some TLC but has good bones and is located in a quiet location on an oversized, fully fenced lot at the very end of Mano St. To be sold together with the adjacent vacant parcel for a total of 31,754 sq. ft. (nearly 3/4 acre). See MLS #730174, listed at $21K. Nearest neighbor is 3 lots away. Maximize your elbow room and privacy! Great upside potential! The house was built in 2000. Seller started interior renovations but is unable to finish. Here’s your chance to purchase a good home at a great price and make it shine again. Sold As-Is. The house sits on an oversized parcel, at 17,134 sq. ft. (per county records). As a Hawaiian Shores Recreational Estates owner, you’ll enjoy the conveniences of a community water well system (no unsightly catchment tank), paved streets, mail delivery, cable, Internet, and two parks with amenities, such as a community swimming pool, playground, Pickleball courts, picnic cabanas, activities, and more. Minimal CCRs help maintain the integrity of the neighborhood. Flood zone X. Lava zone 2.

18. 2026-04-12
    listed $250,000 Active 1098-char remark

    Show marketing remark (1098 chars)

    Great deal on a home in Hawaiian Shores! Home needs some TLC but has good bones and is located in a quiet location on an oversized, fully fenced lot at the very end of Mano St. To be sold together with the adjacent vacant parcel for a total of 31,754 sq. ft. (nearly 3/4 acre). See MLS #730174, listed at $21K. Nearest neighbor is 3 lots away. Maximize your elbow room and privacy! Great upside potential! The house was built in 2000. Seller started interior renovations but is unable to finish. Here’s your chance to purchase a good home at a great price and make it shine again. Sold As-Is. The house sits on an oversized parcel, at 17,134 sq. ft. (per county records). As a Hawaiian Shores Recreational Estates owner, you’ll enjoy the conveniences of a community water well system (no unsightly catchment tank), paved streets, mail delivery, cable, Internet, and two parks with amenities, such as a community swimming pool, playground, Pickleball courts, picnic cabanas, activities, and more. Minimal CCRs help maintain the integrity of the neighborhood. Flood zone X. Lava zone 2.

19. 2002-06-28
    soldstatus $90,000 31-char remark

    Show marketing remark (31 chars)

    This information is unavailable

20. 2002-06-28
    soldstatus $90,000

    Show marketing remark (31 chars)

    This information is unavailable

21. 2002-03-06
    listed $98,000 31-char remark

    Show marketing remark (31 chars)

    This information is unavailable

22. 1999-04-27
    soldstatus $80,000
23. 1988-08-01
    soldstatus $7,000

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

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $677 · $56/mo
• Projected year-2 tax: $677 · $56/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $26,719
• − Mortgage interest: −$12,828
• − Property taxes: −$677
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,137
• − Management: −$2,137
• − HOA: −$468
• − Depreciation: −$6,662
• Taxable income: $665
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $4,248/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 — Hawaiian Beaches

• Score: 55/100
• State rank: #128
• US rank: #23148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawaiian Beaches, HI
• Population (ZIP): 14,225

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 0.82)
• Race & ethnicity: White 37% Two or more races 30% Hispanic / Latino 15% Pacific Islander 15% Asian 12%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Russian 7% Italian 3% Romanian 3%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 11% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

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: ▼ -31.52%
• Current HPI: 173.8168
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+3171.4% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $229,000 HI Information Service
• 2026-04-12 Listed $250,000 HI Information Service
• 2002-06-28 Sold (MLS) $90,000 HI Information Service
• 2002-06-28 Sold (Public Records) $90,000 Public Records
• 2002-03-06 Listed $98,000 HI Information Service
• 1999-04-27 Sold (Public Records) $80,000 Public Records
• 1988-08-01 Sold (Public Records) $7,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $677 · +4.4% YoY. Source: county tax records.