15-1358 17th Ave

Hawaiian Paradise Park, HI 96749

$160,000C+

1 bd · 1.0 ba · 720 sqft · Built 2013 · Other · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,769/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$194
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $364/mo
• Annual: $4,365/yr
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• 1% rule: 1.11%
• Cash to close: $44,800

Investor read

• This is a 1-bed/1.0-bath other listed at $160k.
• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 51 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($1k loan paydown + $1k appreciation (0.9% local appreciation)).
• Location reads 61/100 on livability (#81 in HI) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A; 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: 189 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 11y 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 $35k; list at $160k implies a 357% gain — meaningful room to come down on a strong offer.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 9.0% vs local median 2.8% in Hawaiian Paradise Park — 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.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.