14-3547 Forest Rd · Nanawale Estates, HI 96778

$180,000

4 bd · 3.0 ba · 2,800 sqft · SingleFamily · 223 Days on market

Built 2021 Good condition 8,040 sqft lot $64/sqft · 48% below area Est $349k · 48% under $10/mo HOA ↓ 5% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under construction with a Major Head Start If you're in the market for a property with potential and don't mind putting in some work, this might be just what you're looking for. This partially built 4-bedroom, 3-bathroom home offers a solid foundation with key elements already in place—perfect for someone ready to take on a rewarding project. What’s Already Completed: Structure: The main building is framed with durable metal and includes a second-floor layout featuring four bedrooms, three bathrooms, and a designated laundry area. Exterior: Doors and windows are installed, and a cargo elevator provides convenient upper-level access. Systems: Electrical is rough-in and mostly complete. A propane boiler has been purchased to support heating and a future Jacuzzi. A rainwater catchment system is partially set up, including concrete pad for catchment tank. Extras: The property also includes a 640 sq. ft detached storage building with a functional workshop. What Needs to Be Completed:: Interior Finishes: Installation of drywall, paint, and bathroom/laundry room tiles is needed. Kitchen cabinets, countertops, bathroom vanities, ceiling tiles, and fixtures, such as: toilets, tubs, sinks, and dishwasher still need to be purchased. Electrical: The home requires a power source—such as solar, utility hookup, or generator—and completion of interior wiring for lights, outlets, and kitchen appliances. Plumbing: Final plumbing work is needed, including pipe installation and fixture connections. A rainwater tank must be purchased and installed. Propane System: The propane setup needs to be finalized, with lines connected to kitchen cooktops and water heating. Exterior Enhancements: Additional features such as fencing, security lighting, a rock wall, and optional upgrades like a Jacuzzi or automatic gate can be added to complete the property.

Key facts

• Functional workshop
• Cargo elevator
• 8,040 sq ft lot

Tags

• CARGO ELEVATOR
• RAINWATER CATCHMENT SYSTEM
• DETACHED STORAGE BUILDING
• FUNCTIONAL WORKSHOP

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#78 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: employment C-, health & safety C-, schools 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: 387 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% 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 F-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: 1.54% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (median comp): $349,265
• List price: $180,000
• Delta: -48.46%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.0%
• Equity multiple: 1.60×
• Total profit: $30,398
• Equity at exit: $26,839

10-year hold

• IRR: 23.7%
• Equity multiple: 3.05×
• Total profit: $103,304
• Equity at exit: $15,563

Cash invested: $50,400 (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: 387
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,770 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$10
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $934

Break-even live

Break-even rent $1,587

Max offer price $180,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,059	-5% $997	+0% $934	+5% $872	+10% $810
Rent	-10% $716	-5% $825	+0% $934	+5% $1,044	+10% $1,153
Rate	-1.0pp $1,025	-0.5pp $980	base $934	+0.5pp $888	+1.0pp $840

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $10 · $120/yr
• Likely covers: waterelectricsecurity

Listing history 18 events

1. 2026-06-18
   days on market $180,000 Active 223 DOM
2. 2026-06-17
   days on market $180,000 Active 222 DOM
3. 2026-06-15
   days on market $180,000 Active 220 DOM
4. 2026-06-13
   days on market $180,000 Active 218 DOM
5. 2026-06-13
   days on market $180,000 Active 217 DOM
6. 2026-06-10
   days on market $180,000 Active 215 DOM
7. 2026-06-09
   days on market $180,000 Active 214 DOM
8. 2026-06-08
   days on market $180,000 Active 213 DOM
9. 2026-06-07
   days on market $180,000 Active 212 DOM
10. 2026-06-05
    days on market $180,000 Active 209 DOM
11. 2026-06-03
    days on market $180,000 Active 208 DOM
12. 2026-06-02
    days on market $180,000 Active 207 DOM
13. 2026-06-01
    days on market $180,000 Active 206 DOM
14. 2026-06-01
    price $180,000 Active 205 DOM
15. 2026-05-31
    days on market $190,000 Active 205 DOM
16. 2026-05-05
    price $190,000 1884-char remark

    Show marketing remark (1884 chars)

    Under construction with a Major Head Start If you're in the market for a property with potential and don't mind putting in some work, this might be just what you're looking for. This partially built 4-bedroom, 3-bathroom home offers a solid foundation with key elements already in place—perfect for someone ready to take on a rewarding project. What’s Already Completed: Structure: The main building is framed with durable metal and includes a second-floor layout featuring four bedrooms, three bathrooms, and a designated laundry area. Exterior: Doors and windows are installed, and a cargo elevator provides convenient upper-level access. Systems: Electrical is rough-in and mostly complete. A propane boiler has been purchased to support heating and a future Jacuzzi. A rainwater catchment system is partially set up, including concrete pad for catchment tank. Extras: The property also includes a 640 sq. ft detached storage building with a functional workshop. What Needs to Be Completed:: Interior Finishes: Installation of drywall, paint, and bathroom/laundry room tiles is needed. Kitchen cabinets, countertops, bathroom vanities, ceiling tiles, and fixtures, such as: toilets, tubs, sinks, and dishwasher still need to be purchased. Electrical: The home requires a power source—such as solar, utility hookup, or generator—and completion of interior wiring for lights, outlets, and kitchen appliances. Plumbing: Final plumbing work is needed, including pipe installation and fixture connections. A rainwater tank must be purchased and installed. Propane System: The propane setup needs to be finalized, with lines connected to kitchen cooktops and water heating. Exterior Enhancements: Additional features such as fencing, security lighting, a rock wall, and optional upgrades like a Jacuzzi or automatic gate can be added to complete the property.

17. 2026-01-08
    price $195,000 1884-char remark

    Show marketing remark (1884 chars)

    Under construction with a Major Head Start If you're in the market for a property with potential and don't mind putting in some work, this might be just what you're looking for. This partially built 4-bedroom, 3-bathroom home offers a solid foundation with key elements already in place—perfect for someone ready to take on a rewarding project. What’s Already Completed: Structure: The main building is framed with durable metal and includes a second-floor layout featuring four bedrooms, three bathrooms, and a designated laundry area. Exterior: Doors and windows are installed, and a cargo elevator provides convenient upper-level access. Systems: Electrical is rough-in and mostly complete. A propane boiler has been purchased to support heating and a future Jacuzzi. A rainwater catchment system is partially set up, including concrete pad for catchment tank. Extras: The property also includes a 640 sq. ft detached storage building with a functional workshop. What Needs to Be Completed:: Interior Finishes: Installation of drywall, paint, and bathroom/laundry room tiles is needed. Kitchen cabinets, countertops, bathroom vanities, ceiling tiles, and fixtures, such as: toilets, tubs, sinks, and dishwasher still need to be purchased. Electrical: The home requires a power source—such as solar, utility hookup, or generator—and completion of interior wiring for lights, outlets, and kitchen appliances. Plumbing: Final plumbing work is needed, including pipe installation and fixture connections. A rainwater tank must be purchased and installed. Propane System: The propane setup needs to be finalized, with lines connected to kitchen cooktops and water heating. Exterior Enhancements: Additional features such as fencing, security lighting, a rock wall, and optional upgrades like a Jacuzzi or automatic gate can be added to complete the property.

18. 2025-11-06
    listed $200,000 Active 1884-char remark

    Show marketing remark (1884 chars)

    Under construction with a Major Head Start If you're in the market for a property with potential and don't mind putting in some work, this might be just what you're looking for. This partially built 4-bedroom, 3-bathroom home offers a solid foundation with key elements already in place—perfect for someone ready to take on a rewarding project. What’s Already Completed: Structure: The main building is framed with durable metal and includes a second-floor layout featuring four bedrooms, three bathrooms, and a designated laundry area. Exterior: Doors and windows are installed, and a cargo elevator provides convenient upper-level access. Systems: Electrical is rough-in and mostly complete. A propane boiler has been purchased to support heating and a future Jacuzzi. A rainwater catchment system is partially set up, including concrete pad for catchment tank. Extras: The property also includes a 640 sq. ft detached storage building with a functional workshop. What Needs to Be Completed:: Interior Finishes: Installation of drywall, paint, and bathroom/laundry room tiles is needed. Kitchen cabinets, countertops, bathroom vanities, ceiling tiles, and fixtures, such as: toilets, tubs, sinks, and dishwasher still need to be purchased. Electrical: The home requires a power source—such as solar, utility hookup, or generator—and completion of interior wiring for lights, outlets, and kitchen appliances. Plumbing: Final plumbing work is needed, including pipe installation and fixture connections. A rainwater tank must be purchased and installed. Propane System: The propane setup needs to be finalized, with lines connected to kitchen cooktops and water heating. Exterior Enhancements: Additional features such as fencing, security lighting, a rock wall, and optional upgrades like a Jacuzzi or automatic gate can be added to complete the property.

ⓘ 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) · 68% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $33,242
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,659
• − Management: −$2,659
• − HOA: −$120
• − Depreciation: −$5,236
• Taxable income: $8,884
• Est. tax owed @ 24.0%: −$2,132
• After-tax cash flow: $9,082/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.

Condition & rehab AI · 12 photos

Good 75/100 Moderate rehab

This partially built home offers a solid foundation with key elements already in place, perfect for someone ready to take on a rewarding project. The structure is good, but requires completion of kitchen, bathrooms, HVAC, and landscaping to maximize resale and rental value.

Repairs flagged

• Major Kitchen appliances — Exposed framing, no appliances
• Major Bathroom fixtures — Exposed framing, no fixtures
• Major HVAC system — Exposed ductwork

Value-add opportunities

• Resale Complete kitchen appliances — Fully functional kitchen
• Resale Install bathroom fixtures — Complete bathroom setup
• Resale Install HVAC system — Complete heating and cooling system
• Both Landscaping and curb appeal — Enhances property's curb appeal and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Exposed framing, no appliances	Major	$15,000–50,000
Bathroom fixtures · Exposed framing, no fixtures	Major	$15,000–50,000
HVAC system · Exposed ductwork	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Complete kitchen appliances — Fully functional kitchen ↑
• Resale Install bathroom fixtures — Complete bathroom setup ↑
• Resale Install HVAC system — Complete heating and cooling system ↑
• Both Landscaping and curb appeal — Enhances property's curb appeal and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Nanawale Estates

• Score: 61/100
• State rank: #78
• US rank: #17834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nanawale Estates, 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

-5.0% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $190,000 HI Information Service
• 2026-01-08 Price Changed $195,000 HI Information Service
• 2025-11-06 Listed $200,000 HI Information Service