11-3276 Ohia Ave

Eden Roc, HI 96771

$109,000B+

2 bd · 1.0 ba · 480 sqft · Built 2008 · SingleFamily · Active · 219 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,597/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $508/mo
• Annual: $6,097/yr
• Cap rate: 11.89%
• Cash-on-cash: 19.98%
• DSCR: 1.89
• 1% rule: 1.46%
• Cash to close: $30,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $109k. Condition is rated fair.
• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• It's been on market 219 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($754 loan paydown + $803 appreciation (0.7% local appreciation)).
• Location reads 52/100 on livability (#145 in HI) — a working-class tenant base; expect higher turnover. Strengths: housing B+, cost of living B; Watch: health & safety C-, schools F, crime 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: 129 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y 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.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen flooring — Severe wear and damage
• Major: Bathroom flooring — Severe wear and damage
• Major: Exterior siding — Significant damage and wear
• Major: Windows — Visible damage and wear
• Major: Roof — Significant damage and wear
• Major: HVAC/mechanicals — Significant damage and wear