4171 Kamalani Ln · Princeville, HI 96722

$2,450,000

4 bd · 2.5 ba · 2,337 sqft · MultiFamily public records · 7 Days on market

Built 1986 10,235 sqft lot $148/mo HOA · 1% of rent

---

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 +10.7/30.0
• ARV discount +7.5/15.0
• Appreciation +4.1/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Recently Renovated this Modern Styled Princeville Golf Course home has a great family layout. Offering 4 bedrooms/3 Bath + extra bonus space which is ideal for a office or study. The open floor plan on the first level includes a large modern kitchen, dining, living area, guest bedroom and bath and features high ceilings, and expansive golf course views and a large slate tiled patio. On the second floor the Master Bedroom offers additional golf course views, large master bathroom and walk in closet, 2 additional bedrooms and bathroom, plus the bonus space ideal for study. The laundry room is well positioned on the second floor just off of the master bedroom. This functional floor plan is perfect for a large family home or a vacation rental. The recent renovations include the following: * Renovated Kitchen including all Stainless Steel Appliances and Ceaser Stone counter tops, Walk in Pantry * Renovated Bathrooms including large walk in shower in master bathroom, custom tile work and modern finishes * New Hardwood Floors throughout * Slate Patios for additional outdoor living * New Roof * Fresh Paint inside and out * Lush tropical landscapingVacant and Easy to show.

Key facts

• Hanalei waterfalls
• Rear frontage
• Lush landscape

Tags

• LUSH LANDSCAPE
• REAR FRONTAGE
• MOUNTAIN VIEWS
• HANALEI WATERFALLS

Property features AI

Finance

• Financial info: Currently used as a short-term vacation rental

Exterior

• Parking: Attached parking
• Utilities: Private water; Sewer connected; Electricity available; Cable available; Phone available; Underground utilities; County-charge solid waste disposal; T1 and higher internet access
• Home design: Attached property; Fee simple ownership; Zoned R-4
• Exterior features: Landscaped; Fairly level topography; Golf course frontage; Private paved road access

Interior

• Kitchen: Dishwasher; Gas cooktop; Range
• Flooring: Carpet
• Bathrooms: Total of 2 bathrooms and 1 half bath
• Heating & cooling: Electric water heater
• Interior features: Carpet flooring
• Laundry & utility: Stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $2.45M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.24M (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.89M (22.8% below list).
• Recommended offer: $1.89M (22.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#33 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A; Watch: schools C-, commute C-, housing D+.
• 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: 95 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 141 units permitted in Kauai County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $17k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• Kauai County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.12M; list at $2.45M implies a 118% gain — meaningful room to come down on a strong offer.

Recommended offer $1,892,572 (22.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.49×
• Total profit: $-350,722
• Equity at exit: $495,047

10-year hold

• IRR: -5.4%
• Equity multiple: 0.57×
• Total profit: $-293,690
• Equity at exit: $441,533

Cash invested: $686,000 (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 96722

• Home prices YoY: -0.3%
• Active inventory: 95
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $18,926 medium
• Mortgage (P&I): −$12,848
• Tax from tax record: −$2,119 /mo · $25,433/yr
• Insurance: −$1,021
• HOA: −$148
• Vacancy / Maint / Mgmt: −$3,974
• Net cashflow: $-1,185

Break-even live

Break-even rent $20,426

Max offer price $2,240,667

Occupancy floor —

Sensitivity live

Price	-10% $202	-5% $-492	+0% $-1,185	+5% $-1,878	+10% $-2,572
Rent	-10% $-2,680	-5% $-1,933	+0% $-1,185	+5% $-437	+10% $310
Rate	-1.0pp $49	-0.5pp $-562	base $-1,185	+0.5pp $-1,820	+1.0pp $-2,466

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: $612,500
• Closing costs: $73,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4100 Queen Emmas Dr Princeville, HI	3.0	3.0	2479	$15,000	$6.05	44d	1	0.67mi
511 Weke Rd Hanalei, HI	3.0	3.5	3335	$30,000	$9.00	44d	1	1.42mi

HOA detail

• Monthly dues: $148 · $1,776/yr
• Likely covers: landscaping

Listing history 8 events

1. 2026-06-19
   remarks 315-char remark
2. 2026-06-18
   days on market $2,450,000 Active 7 DOM
3. 2026-06-17
   days on market $2,450,000 Active 6 DOM
4. 2026-06-16
   days on market $2,450,000 Active 5 DOM
5. 2026-06-15
   days on market $2,450,000 Active 4 DOM
6. 2026-06-13
   days on market $2,450,000 Active 2 DOM
7. 2026-06-13
   remarks 284-char remark
8. 2026-06-13
   listed $2,450,000 Active 1 DOM

ⓘ 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: $25,433 · $2,119/mo
• Projected year-2 tax: $25,433 · $2,119/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: $227,109
• − Mortgage interest: −$137,238
• − Property taxes: −$25,433
• − Insurance: −$12,250
• − Repairs & maintenance: −$18,169
• − Management: −$18,169
• − HOA: −$1,776
• − Depreciation: −$71,273
• Taxable loss: −$57,198
• Est. tax savings @ 24.0%: +$13,728
• After-tax cash flow: $-492/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 — Princeville

• Score: 68/100
• State rank: #33
• US rank: #9494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeville, HI
• Population (ZIP): 2,061

Population outlook (Kauai County) Hauer SSP2

• Today (2025): 80,681 people
• By 2030: 85,158 · +5.5%
• By 2040: 93,679 · +16.1%
• By 2050: 102,608 · +27.2%
• By 2075: 129,159 · +60.1%
• By 2100: 157,205 · +94.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 10% Asian 7% Black 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 86% English-only · Spanish 3% Russian/Polish/Slavic 3% German/W. Germanic 3%

Political lean MEDSL · Kauai

• 2024 margin: D (+19.5) · D 58.8% · R 39.3% · Other 1.9%
• 2008→2024 swing: -32.5pp toward R · 2008: 52.0pp · 2024: 19.5pp
• All cycles: 2024: D+19.5 2020: D+28.8 2016: D+33.7 2012: D+49.3 2008: D+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 611.0499
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6762.7% since first listed

18 events — show timeline

• 2026-06-11 Listed $2,450,000 HI Information Service
• 2016-11-10 Sold (MLS) $1,125,000 HI Information Service
• 2016-11-10 Sold (Public Records) $1,125,000 Public Records
• 2016-09-14 Contingent — HI Information Service
• 2016-08-29 Price Changed $1,185,000 HI Information Service
• 2016-07-15 Listed $1,250,000 HI Information Service
• 2015-11-05 Sold (MLS) $750,000 HI Information Service
• 2015-11-05 Sold (Public Records) $750,000 Public Records
• 2015-09-29 Contingent — HI Information Service
• 2015-05-13 Listed $829,000 HI Information Service
• 2005-06-24 Sold (MLS) $925,000 HI Information Service
• 2005-06-24 Sold (Public Records) $925,000 Public Records
• 2005-03-01 Listed $985,000 HI Information Service
• 2002-06-21 Sold (MLS) $600,000 HI Information Service
• 2002-06-21 Sold (Public Records) $600,000 Public Records
• 2001-07-13 Listed $619,000 HI Information Service
• 1984-04-01 Sold (Public Records) $66,900 Public Records
• 1978-03-01 Sold (Public Records) $35,700 Public Records

Property tax history

+19.5%/yr

Latest (2025): $25,433 · +8.1% YoY. Source: county tax records.