15-2724 Ono St · Hawaiian Beaches, HI 96778

$234,900

3 bd · 2.5 ba · 1,224 sqft · SingleFamily public records · 3 Days on market

Built 1991 0.28 ac lot Est $295k · 20% under

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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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.5/10.0
• 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

This 3 Bedroom, 2.5 Bath home has tons of potential! Located a few minutes away from Pahoa Town's restaurants and stores (Puna Kai Shopping Center under construction at this time). A short drive from this home you will find the cliffs of the Pacific Ocean that border this subdivision for whale watching and fishing. County Roads, Private water system, mail services & a fully fenced property are some highlights of this home. Priced well below the county assessed value! This home is not only affordable, but is ready to be called your new home. Short notice showings are available!Information herein deemed reliable but not guaranteed. Buyer and Buyers Agent to do their own due diligence of all pertinent facts.

Key facts

• High speed internet
• Fully permitted
• Paved roads

Tags

• FULLY PERMITTED
• MAIL SERVICE TO THE DOOR
• HIGH SPEED INTERNET
• PAVED ROADS
• SHORELINE ACCESS

Property features AI

Finance

• Other: Not used as a short-term vacation rental; Full ownership

Exterior

• Parking: Unassigned parking
• Utilities: Cable and satellite internet available; Cable available; Electricity available; Phone available; Private water source (well); Cesspool sewer; No municipal solid waste disposal listed
• Home design: Fee simple ownership; Lava zone 2; Zoned A-1A
• Exterior features: Chain link fencing; Paved road access

Interior

• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom (total 3 bathrooms)
• Interior features: Carpet flooring
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/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 (5.2% below list).
• Recommended offer: $223k (5.2% below list) — sets the bar for 1% rule.
• 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: 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 $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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $125k; list at $235k implies a 88% gain — meaningful room to come down on a strong offer.

Recommended offer $222,654 (5.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 8.21%
• Cash-on-cash: 6.86%
• DSCR: 1.31
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $294,984
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15-2711 Oio St	0.08mi	3/2.0	1,056 (-14%)	13mo	$255,000	$241	60
15-174 Puni Paka Loop	0.35mi	3/2.0	1,056 (-14%)	1mo	$162,000	$153	58
15-2756 Popaa St	0.51mi	3/2.0	1,363 (+11%)	2mo	$445,000	$326	54
15-280 S Puni Makai Loop	0.22mi	3/2.0	1,392 (+14%)	18mo	$185,000	$133	50
15-2781 Mano St	0.61mi	3/2.0	1,356 (+11%)	12mo	$350,000	$258	42
15-2785 Manini St	0.68mi	3/2.0	1,056 (-14%)	15mo	$215,000	$204	31
15-116 Kuna St	0.75mi	2/2.0 (-1)	1,407 (+15%)	7mo	$506,250	$360	27

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: $-14,221
• Equity at exit: $35,024

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $18,001
• Equity at exit: $20,310

Cash invested: $65,772 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,227 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$53 /mo · $637/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $376

Break-even live

Break-even rent $1,750

Max offer price $234,900

Occupancy floor 78%

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $234,900 Active 3 DOM
2. 2026-06-17
   days on market $234,900 Active 2 DOM
3. 2026-06-15
   remarks 695-char remark
4. 2026-06-15
   listed $234,900 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: $637 · $53/mo
• Projected year-2 tax: $647 · $54/mo
• Expected delta: +$10/yr (+$1/mo · 1.6%)

ⓘ 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: $26,718
• − Mortgage interest: −$13,158
• − Property taxes: −$637
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,137
• − Management: −$2,137
• − Depreciation: −$6,833
• Taxable income: $640
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $4,360/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

+2249.0% since first listed

7 events — show timeline

• 2025-12-17 Listed $234,900 HI Information Service
• 2020-06-03 Sold (MLS) $125,000 HI Information Service
• 2020-01-27 Contingent — HI Information Service
• 2020-01-09 Price Changed $141,999 HI Information Service
• 2019-09-30 Listed $144,999 HI Information Service
• 1992-06-05 Sold (Public Records) $110,000 Public Records
• 1990-08-01 Sold (Public Records) $10,000 Public Records

Property tax history

-5.7%/yr

Latest (2025): $637 · +5.5% YoY. Source: county tax records.