85-209 Ala Akau St Unit G · Waianae, HI 96792

$219,000

3 bd · 1.0 ba · 952 sqft · Townhouse · 82 Days on market

Built 1974 Fair condition 3,193 sqft lot $230/sqft · 41% above area Est $156k · 41% over $300/mo HOA · 12% of rent

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Why this score? — see what drove the D 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 +19.3/30.0
• 1% rule +6.9/10.0
• DSCR +6.1/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to an affordable 3-bedroom/1 bath duplex that’s perfect for first-time buyers. Enjoy easy single-level living, a spacious 3,193 sq. ft. lot, a 2-car carport, and a fully fenced backyard—ideal for pets, play, or hosting friends. The lease rent is just $70.16/month, with a scheduled increase to $91.25/month from July 1, 2027 through June 30, 2031. For added long-term value, the lease may be extended to 2055 (See Supplements for Extended Lease Terms and Special Assessment $127.00/month to November 2026). Eligible for multiple financing options, including FHA Spot loans and Conventional loans. Tenant is on a Month-to-Month Lease, 2 days notice is required for all showings.

Key facts

• 2-car carport
• Spacious lot
• Single-level living

Tags

• SINGLE-LEVEL LIVING
• FULLY FENCED BACKYARD
• SPACIOUS LOT
• 2-CAR CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $219k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#67 in HI) — a middle-class / working-renter tenant base. Strengths: commute B+, employment B+, housing B; Watch: health & safety C-, schools F, 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: Rents rising (+3.4%/yr); 250 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• This rent runs 36% of the median local income ($88k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.

Recommended offer $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• GRM: 7.0

CMA / ARV

• ARV (median comp): $155,818
• List price: $219,000
• Delta: 40.55%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85-145 Ala Akau St Unit F	0.14mi	3/1.5	951 (-0%)	3mo	$135,000	$142	89
85-118 Ala Walua St Unit H	0.17mi	3/1.5	951 (-0%)	17mo	$130,000	$137	76

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-18,940
• Equity at exit: $32,654

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $8,277
• Equity at exit: $18,935

Cash invested: $61,320 (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 96792

• Home prices YoY: -18.8%
• Rents YoY: 3.4%
• Active inventory: 250
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,600 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$300
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $241

Break-even live

Break-even rent $2,296

Max offer price $219,000

Occupancy floor 86%

Sensitivity live

Price	-10% $392	-5% $316	+0% $241	+5% $165	+10% $89
Rent	-10% $35	-5% $138	+0% $241	+5% $343	+10% $446
Rate	-1.0pp $351	-0.5pp $296	base $241	+0.5pp $184	+1.0pp $126

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-1111 Lahaina St Unit A Waianae, HI	3.0	2.0	920	$2,900	$3.15	44d	1	0.94mi
84-1026 Hana St #3 Waianae, HI	2.0	1.0	600	$2,000	$3.33	44d	1	1.08mi
84-956 Hanalei St Unit B Waianae, HI	3.0	1.0	800	$3,300	$4.12	44d	1	1.16mi
86-027 Glenmonger St Waianae, HI	2.0	2.0	576	$1,800	$3.12	44d	1	1.22mi
84-917 Hanalei St Unit C Waianae, HI	3.0	1.0	700	$2,400	$3.43	4d	1	1.24mi
84-917 Hanalei St Waianae, HI	3.0	1.0	700	$2,500	$3.57	44d	1	1.24mi
84-824 Farrington Hwy Waianae, HI	2.0	1.0	700	$2,200	$3.14	24d	1	1.49mi

HOA detail

• Monthly dues: $300 · $3,600/yr
• ⚠ Special-assessment mentions:

  …30, 2031. For added long-term value, the lease may be extended to 2055 (See Supplements for Extended Lease Terms and Special Assessment $127.00/month to November 2026). Eligible for multiple financing options, including FHA Spot loans and Conventional…

Listing history 16 events

1. 2026-06-18
   days on market $219,000 Active 82 DOM
2. 2026-06-17
   days on market $219,000 Active 81 DOM
3. 2026-06-16
   days on market $219,000 Active 80 DOM
4. 2026-06-15
   days on market $219,000 Active 79 DOM
5. 2026-06-13
   days on market $219,000 Active 77 DOM
6. 2026-06-13
   days on market $219,000 Active 76 DOM
7. 2026-06-10
   days on market $219,000 Active 74 DOM
8. 2026-06-09
   days on market $219,000 Active 73 DOM
9. 2026-06-08
   days on market $219,000 Active 72 DOM
10. 2026-06-07
    days on market $219,000 Active 71 DOM
11. 2026-06-05
    days on market $219,000 Active 68 DOM
12. 2026-06-03
    days on market $219,000 Active 67 DOM
13. 2026-06-02
    days on market $219,000 Active 66 DOM
14. 2026-06-01
    days on market $219,000 Active 65 DOM
15. 2026-05-31
    days on market $219,000 Active 64 DOM
16. 2026-03-28
    listed $219,000 Active 702-char remark

    Show marketing remark (702 chars)

    Welcome home to an affordable 3-bedroom/1 bath duplex that’s perfect for first-time buyers. Enjoy easy single-level living, a spacious 3,193 sq. ft. lot, a 2-car carport, and a fully fenced backyard—ideal for pets, play, or hosting friends. The lease rent is just $70.16/month, with a scheduled increase to $91.25/month from July 1, 2027 through June 30, 2031. For added long-term value, the lease may be extended to 2055 (See Supplements for Extended Lease Terms and Special Assessment $127.00/month to November 2026). Eligible for multiple financing options, including FHA Spot loans and Conventional loans. Tenant is on a Month-to-Month Lease, 2 days notice is required for all showings.

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

Taxation est. · year 1

• Rental income: $31,201
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − HOA: −$3,600
• − Depreciation: −$6,371
• Taxable loss: −$409
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,986/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

Fair 45/100 Moderate rehab

This property requires significant repairs and maintenance, but has potential for substantial value increase with proper renovations.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — Shingles appear aged and in need of replacement
• Major HVAC/mechanicals — Clutter suggests disuse and potential issues
• Major windows — Broken glass needs replacement

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace roof and siding — Structural repairs improve safety and value
• Both Upgrade HVAC system — Modern system improves comfort and energy efficiency
• Both Landscaping and curb appeal — Well-maintained yard and curb appeal attract buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · Shingles appear aged and in need of replacement	Major	$15,000–50,000
HVAC/mechanicals · Clutter suggests disuse and potential issues	Major	$15,000–50,000
windows · Broken glass needs replacement	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace roof and siding — Structural repairs improve safety and value ↑
• Both Upgrade HVAC system — Modern system improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Well-maintained yard and curb appeal attract buyers ↑

ⓘ 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 — Waianae

• Score: 63/100
• State rank: #67
• US rank: #15629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waianae, HI
• County: Honolulu County · 963,448 people
• City population: 49,618
• Metro: Urban Honolulu, HI
• Population (ZIP): 49,618
• Household income: $87,509
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1706.0

Population outlook (Honolulu County) Hauer SSP2

• Today (2025): 1,072,641 people
• By 2030: 1,110,460 · +3.5%
• By 2040: 1,181,593 · +10.2%
• By 2050: 1,257,584 · +17.2%
• By 2075: 1,501,120 · +39.9%
• By 2100: 1,764,430 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.96)
• Race & ethnicity: Pacific Islander 42% Two or more races 32% Hispanic / Latino 13% Asian 10% White 10% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Russian 6% Romanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 82% English-only · Other Asian/Pacific 13% Tagalog/Filipino 2% Spanish 1%

Political lean MEDSL · Honolulu

• 2024 margin: Strong D (+21.6) · D 59.9% · R 38.3% · Other 1.8%
• 2008→2024 swing: -19.4pp toward R · 2008: 41.1pp · 2024: 21.6pp
• All cycles: 2024: D+21.6 2020: D+26.9 2016: D+29.9 2012: D+39.1 2008: D+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.72%
• Current HPI: 477.9187
• Rent YoY: ▲ 3.38%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-28 Listed $219,000 HiCentral MLS