92-8534 Marlin Blvd · Hawaiian Ocean View, HI 96737

$159,000

1 bd · 1.0 ba · 480 sqft · SingleFamily · 184 Days on market

Built 2024 Good condition 1.00 ac lot $331/sqft · at area comps Est $164k · at est.

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Why this score? — see what drove the B- 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 +24.8/30.0
• ARV discount +8.9/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

Owner financing available with 50% down payment on this very well built 1 bedroom 1 bathroom home being sold fully furnished. Enjoy the expansive ocean views and the views of South Point at this beautiful country style home located in the upper part of Hawaiian Ocean View Estates. This property offers off grid living at it's finest and is located near all of your basic amenities including grocery stores, restaurants, coffee shop, post office & hardware store. At this property you will find the following features: - Like new appliances including washer, dryer & gas stove - Sunset / Coastline views - Cozy screened in Lanai - Custom mango wood counter tops - Large gardening area with an extensive list of vegetables growing - Additional planting areas prepped and ready to go - 24v Photovoltaic system / Solar panels; eliminating monthly electric bill - "Ring style" security cameras included - 8,000 Gallon water catchment tank - Property has been professionally staked You have to see this home in person to truly appreciate all it has to offer.

Key facts

• Large gardening area
• South point views
• Off grid living

Tags

• SOUTH POINT VIEWS
• OFF GRID LIVING
• COZY SCREENED IN LANAI
• CUSTOM MANGO WOOD COUNTER TOPS
• LARGE GARDENING AREA
• 24V PHOTOVOLTAIC SYSTEM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.2% in Hawaiian Ocean View — 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 48/100 on livability (#151 in HI) — a working-class tenant base; expect higher turnover. Watch: housing C-, health & safety C-, schools 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: 247 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.14% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $163,973
• List price: $159,000
• Delta: -3.03%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.0%
• Equity multiple: 1.91×
• Total profit: $40,602
• Equity at exit: $71,493

10-year hold

• IRR: 17.6%
• Equity multiple: 3.57×
• Total profit: $114,581
• Equity at exit: $110,180

Cash invested: $44,520 (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 96737

• Active inventory: 247
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,817 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $336

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 76%

Sensitivity live

Price	-10% $446	-5% $391	+0% $336	+5% $281	+10% $226
Rent	-10% $193	-5% $265	+0% $336	+5% $408	+10% $480
Rate	-1.0pp $416	-0.5pp $377	base $336	+0.5pp $295	+1.0pp $253

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $159,000 Active 184 DOM
2. 2026-06-17
   days on market $159,000 Active 183 DOM
3. 2026-06-15
   days on market $159,000 Active 181 DOM
4. 2026-06-13
   days on market $159,000 Active 179 DOM
5. 2026-06-13
   days on market $159,000 Active 178 DOM
6. 2026-06-10
   days on market $159,000 Active 176 DOM
7. 2026-06-09
   days on market $159,000 Active 175 DOM
8. 2026-06-08
   days on market $159,000 Active 174 DOM
9. 2026-06-07
   days on market $159,000 Active 173 DOM
10. 2026-06-05
    days on market $159,000 Active 170 DOM
11. 2026-06-03
    days on market $159,000 Active 169 DOM
12. 2026-06-02
    days on market $159,000 Active 168 DOM
13. 2026-06-01
    days on market $159,000 Active 167 DOM
14. 2026-05-31
    days on market $159,000 Active 166 DOM
15. 2026-05-02
    status Active 1076-char remark

    Show marketing remark (1076 chars)

    Owner financing available with 50% down payment on this very well built 1 bedroom 1 bathroom home being sold fully furnished. Enjoy the expansive ocean views and the views of South Point at this beautiful country style home located in the upper part of Hawaiian Ocean View Estates. This property offers off grid living at it's finest and is located near all of your basic amenities including grocery stores, restaurants, coffee shop, post office & hardware store. At this property you will find the following features: - Like new appliances including washer, dryer & gas stove - Sunset / Coastline views - Cozy screened in Lanai - Custom mango wood counter tops - Large gardening area with an extensive list of vegetables growing - Additional planting areas prepped and ready to go - 24v Photovoltaic system / Solar panels; eliminating monthly electric bill - "Ring style" security cameras included - 8,000 Gallon water catchment tank - Property has been professionally staked You have to see this home in person to truly appreciate all it has to offer.

16. 2026-04-30
    historical Active Under Contract 1076-char remark

    Show marketing remark (1076 chars)

    Owner financing available with 50% down payment on this very well built 1 bedroom 1 bathroom home being sold fully furnished. Enjoy the expansive ocean views and the views of South Point at this beautiful country style home located in the upper part of Hawaiian Ocean View Estates. This property offers off grid living at it's finest and is located near all of your basic amenities including grocery stores, restaurants, coffee shop, post office & hardware store. At this property you will find the following features: - Like new appliances including washer, dryer & gas stove - Sunset / Coastline views - Cozy screened in Lanai - Custom mango wood counter tops - Large gardening area with an extensive list of vegetables growing - Additional planting areas prepped and ready to go - 24v Photovoltaic system / Solar panels; eliminating monthly electric bill - "Ring style" security cameras included - 8,000 Gallon water catchment tank - Property has been professionally staked You have to see this home in person to truly appreciate all it has to offer.

17. 2025-12-15
    listed $159,000 Active 1076-char remark

    Show marketing remark (1076 chars)

    Owner financing available with 50% down payment on this very well built 1 bedroom 1 bathroom home being sold fully furnished. Enjoy the expansive ocean views and the views of South Point at this beautiful country style home located in the upper part of Hawaiian Ocean View Estates. This property offers off grid living at it's finest and is located near all of your basic amenities including grocery stores, restaurants, coffee shop, post office & hardware store. At this property you will find the following features: - Like new appliances including washer, dryer & gas stove - Sunset / Coastline views - Cozy screened in Lanai - Custom mango wood counter tops - Large gardening area with an extensive list of vegetables growing - Additional planting areas prepped and ready to go - 24v Photovoltaic system / Solar panels; eliminating monthly electric bill - "Ring style" security cameras included - 8,000 Gallon water catchment tank - Property has been professionally staked You have to see this home in person to truly appreciate all it has to offer.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,800
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − Depreciation: −$4,625
• Taxable income: $1,600
• Est. tax owed @ 24.0%: −$384
• After-tax cash flow: $3,652/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

Good 80/100 Cosmetic rehab

This single-family home in Hawaiian Ocean View Estates is in good condition with cosmetic updates needed. It offers a cozy screened-in lanai, custom wooden counter tops, and a large gardening area. The property is well-suited for both resale and rental due to its ocean views and off-grid living features.

Value-add opportunities

• Both Landscaping and garden maintenance — Enhances curb appeal and provides fresh produce
• Both Painting exterior and interior walls — Maintains curb appeal and interior aesthetics
• Both Replace sliding glass doors — Improves energy efficiency and security

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and garden maintenance — Enhances curb appeal and provides fresh produce ↑
• Both Painting exterior and interior walls — Maintains curb appeal and interior aesthetics ↑
• Both Replace sliding glass doors — Improves energy efficiency and security ↑

ⓘ 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 — Hawaiian Ocean View

• Score: 48/100
• State rank: #151
• US rank: #26127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawaiian Ocean View, HI
• City population: 3,781
• Population (ZIP): 3,781

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 0.81)
• Race & ethnicity: Two or more races 42% White 39% Hispanic / Latino 16% Asian 6% Pacific Islander 6% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 10%
• Common ancestry: Portuguese 5% Scotch-Irish 4% Hispanic 4%
• Foreign-born: 6% · Canada
• Languages at home: 75% English-only · Other Asian/Pacific 10% Spanish 3% Russian/Polish/Slavic 2%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-02 Relisted — HI Information Service
• 2026-04-30 Contingent — HI Information Service
• 2025-12-15 Listed $159,000 HI Information Service