11-3394 Anuhea St · Royal Hawaiian Estates, HI 96785

$185,000

4 bd · 2.5 ba · 1,380 sqft · SingleFamily public records · 261 Days on market

Built 2023 0.46 ac lot $134/sqft · 72% below area

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Exciting new opportunity to get your hands on this ready to build lot in Royal Hawaiian Estates. Lot has been cleared with a house pad ready along with plans for a 1 bed 1 bath home, if buyers choose to pursue. Existing on the lot is septic, catchment, and service pole with meter. Great opportunity to either build your own or invest. Permits have since expired, buyers to do buyers due diligence. Here you can enjoy the fresh breezes at a cooler elevation with paved roads, no CC & R's, and readily available Overhead Electric via HELCO. Located at the beginning of the subdivision, you have quick access to Highway 11, where you can either take a short drive up to Volcano Village or down to Kea'au with a Shopping Centre, grocery store, public park, and much more!

Key facts

• Gated entrance
• Spacious front deck
• Long driveway

Tags

• OFF-GRID HOME
• GATED ENTRANCE
• LONG DRIVEWAY
• COVERED PARKING AREA
• SPACIOUS FRONT DECK
• WATER CATCHMENT SYSTEM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 160 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 $2k of equity ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $250k (57%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $185k implies a 208% gain — meaningful room to come down on a strong offer.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 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. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.81%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $555,605
• List price: $185,000
• Delta: -21.71%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11-3111 Alii Koa St	0.34mi	3/2.0 (-1)	1,308 (-5%)	9mo	$435,000	$333	61
11-3343 Volcano Rd	0.41mi	3/3.0 (-1)	1,246 (-10%)	6mo	$395,000	$317	53
11-3073 Puolani St	0.30mi	3/3.0 (-1)	1,246 (-10%)	19mo	$355,000	$285	47
11-3393 Volcano Rd	0.46mi	3/2.0 (-1)	1,185 (-14%)	10mo	$450,000	$380	40
11-3122 Alii Kane St	0.73mi	3/2.0 (-1)	1,304 (-6%)	21mo	$380,000	$291	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.95×
• Total profit: $49,316
• Equity at exit: $59,894

10-year hold

• IRR: 22.5%
• Equity multiple: 3.64×
• Total profit: $136,807
• Equity at exit: $77,129

Cash invested: $51,800 (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 96785

• Home prices YoY: 0.4%
• Active inventory: 160
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,404 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $769

Break-even live

Break-even rent $1,430

Max offer price $185,000

Occupancy floor 63%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $185,000 Active 261 DOM
2. 2026-06-17
   pricestatusdays on marketlisting id $185,000 Active 260 DOM
3. 2026-06-15
   days on market $435,000 Active Under Contract 54 DOM
4. 2026-06-13
   days on market $435,000 Active Under Contract 52 DOM
5. 2026-06-13
   days on market $435,000 Active Under Contract 51 DOM
6. 2026-06-10
   days on market $435,000 Active Under Contract 49 DOM
7. 2026-06-09
   days on market $435,000 Active Under Contract 48 DOM
8. 2026-06-08
   days on market $435,000 Active Under Contract 47 DOM
9. 2026-06-07
   days on market $435,000 Active Under Contract 46 DOM
10. 2026-06-05
    days on market $435,000 Active Under Contract 43 DOM
11. 2026-06-03
    days on market $435,000 Active Under Contract 42 DOM
12. 2026-06-02
    days on market $435,000 Active Under Contract 41 DOM
13. 2026-06-01
    days on market $435,000 Active Under Contract 40 DOM
14. 2026-05-31
    days on market $435,000 Active Under Contract 39 DOM
15. 2026-05-08
    historical $2,550
16. 2026-05-06
    soldstatus $60,000 Closed 772-char remark

    Show marketing remark (772 chars)

    Exciting new opportunity to get your hands on this ready to build lot in Royal Hawaiian Estates. Lot has been cleared with a house pad ready along with plans for a 1 bed 1 bath home, if buyers choose to pursue. Existing on the lot is septic, catchment, and service pole with meter. Great opportunity to either build your own or invest. Permits have since expired, buyers to do buyers due diligence. Here you can enjoy the fresh breezes at a cooler elevation with paved roads, no CC & R's, and readily available Overhead Electric via HELCO. Located at the beginning of the subdivision, you have quick access to Highway 11, where you can either take a short drive up to Volcano Village or down to Kea'au with a Shopping Centre, grocery store, public park, and much more!

17. 2026-05-05
    historical Active Under Contract 1618-char remark

    Show marketing remark (1618 chars)

    * * * Seller is offering a $10,000 Concession towards the buyers closing costs * * * This thoughtfully designed custom home combines quality craftsmanship with everyday comfort, situated on a generous 15,625 sq ft lot offering both space and flexibility. Unlike many properties in Royal Hawaiian Estates, this is not a shared flag lot and is ideally positioned on a quiet dead-end street for added privacy and minimal traffic. Inside, vaulted tray ceilings paired with soft recessed lighting create a bright, open feel. The home features a desirable split floor plan, with the primary suite privately located on one end, complete with a spacious en-suite bathroom and walk-in closet. The kitchen is appointed with granite countertops, quality cabinetry, and a functional layout suited for both everyday living and entertaining. Additional interior upgrades include mango wood window accents, upgraded blinds, and ample closet space throughout. Both bathrooms are enhanced with modern smart mirrors featuring defog and nightlight functions, along with a heated towel rack for added comfort. Sliding tinted glass doors lead to a spacious outdoor area, complemented by a concrete driveway and wraparound sidewalks for seamless access. The covered patio features a durable aluminum roof and a low-maintenance artificial turf area, ideal for relaxing or hosting. Additional highlights include a newly installed washer and dryer and an oversized 18-foot garage door, offering added convenience and flexible storage options. Click on the video icon or copy and paste to watch a walk through https://show. tours/v/CJsSbxk

18. 2026-04-20
    listed $435,000 Active 1618-char remark

    Show marketing remark (1618 chars)

    * * * Seller is offering a $10,000 Concession towards the buyers closing costs * * * This thoughtfully designed custom home combines quality craftsmanship with everyday comfort, situated on a generous 15,625 sq ft lot offering both space and flexibility. Unlike many properties in Royal Hawaiian Estates, this is not a shared flag lot and is ideally positioned on a quiet dead-end street for added privacy and minimal traffic. Inside, vaulted tray ceilings paired with soft recessed lighting create a bright, open feel. The home features a desirable split floor plan, with the primary suite privately located on one end, complete with a spacious en-suite bathroom and walk-in closet. The kitchen is appointed with granite countertops, quality cabinetry, and a functional layout suited for both everyday living and entertaining. Additional interior upgrades include mango wood window accents, upgraded blinds, and ample closet space throughout. Both bathrooms are enhanced with modern smart mirrors featuring defog and nightlight functions, along with a heated towel rack for added comfort. Sliding tinted glass doors lead to a spacious outdoor area, complemented by a concrete driveway and wraparound sidewalks for seamless access. The covered patio features a durable aluminum roof and a low-maintenance artificial turf area, ideal for relaxing or hosting. Additional highlights include a newly installed washer and dryer and an oversized 18-foot garage door, offering added convenience and flexible storage options. Click on the video icon or copy and paste to watch a walk through https://show. tours/v/CJsSbxk

19. 2026-04-16
    historical
20. 2026-02-23
    historical
21. 2026-02-23
    listed $290,000
22. 2026-02-22
    listed $435,000 Active
23. 2026-02-02
    historical Active Under Contract 772-char remark

    Show marketing remark (772 chars)

    Exciting new opportunity to get your hands on this ready to build lot in Royal Hawaiian Estates. Lot has been cleared with a house pad ready along with plans for a 1 bed 1 bath home, if buyers choose to pursue. Existing on the lot is septic, catchment, and service pole with meter. Great opportunity to either build your own or invest. Permits have since expired, buyers to do buyers due diligence. Here you can enjoy the fresh breezes at a cooler elevation with paved roads, no CC & R's, and readily available Overhead Electric via HELCO. Located at the beginning of the subdivision, you have quick access to Highway 11, where you can either take a short drive up to Volcano Village or down to Kea'au with a Shopping Centre, grocery store, public park, and much more!

24. 2026-01-22
    listed $65,000 Active 772-char remark

    Show marketing remark (772 chars)

    Exciting new opportunity to get your hands on this ready to build lot in Royal Hawaiian Estates. Lot has been cleared with a house pad ready along with plans for a 1 bed 1 bath home, if buyers choose to pursue. Existing on the lot is septic, catchment, and service pole with meter. Great opportunity to either build your own or invest. Permits have since expired, buyers to do buyers due diligence. Here you can enjoy the fresh breezes at a cooler elevation with paved roads, no CC & R's, and readily available Overhead Electric via HELCO. Located at the beginning of the subdivision, you have quick access to Highway 11, where you can either take a short drive up to Volcano Village or down to Kea'au with a Shopping Centre, grocery store, public park, and much more!

25. 2025-12-31
    price $195,000
26. 2025-09-30
    listed $210,000 Active
27. 2025-09-10
    price $449,000
28. 2025-08-10
    listed $457,500 Active
29. 2025-08-05
    price $2,550
30. 2025-05-13
    listed $2,700
31. 2008-03-28
    soldstatus $23,000

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $991 · $83/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: $28,843
• − Mortgage interest: −$10,363
• − Property taxes: −$991
• − Insurance: −$925
• − Repairs & maintenance: −$2,307
• − Management: −$2,307
• − Depreciation: −$5,382
• Taxable income: $6,567
• Est. tax owed @ 24.0%: −$1,576
• After-tax cash flow: $7,652/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.

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 — Royal Hawaiian Estates

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Royal Hawaiian Estates, HI
• Population (ZIP): 4,224

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 0.76)
• Race & ethnicity: White 46% Two or more races 39% Hispanic / Latino 16% Pacific Islander 5% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 4%
• Common ancestry: Russian 9% Lithuanian 4% Slovak 4%
• Foreign-born: 2%
• Languages at home: 89% English-only · Other Asian/Pacific 2% Spanish 1% Tagalog/Filipino 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: ▲ 0.66%
• Current HPI: 185.9474
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-88.9% since first listed

17 events — show timeline

• 2026-05-08 Rental Removed $2,550 APPFOLIO
• 2026-05-06 Sold (MLS) $60,000 HI Information Service
• 2026-05-05 Contingent — HI Information Service
• 2026-04-20 Listed $435,000 HI Information Service
• 2026-04-16 Listing Removed — HI Information Service
• 2026-02-23 Listing Removed — HI Information Service
• 2026-02-23 Listed $290,000 HI Information Service
• 2026-02-22 Listed $435,000 HI Information Service
• 2026-02-02 Contingent — HI Information Service
• 2026-01-22 Listed $65,000 HI Information Service
• 2025-12-31 Price Changed $195,000 HI Information Service
• 2025-09-30 Listed $210,000 HI Information Service
• 2025-09-10 Price Changed $449,000 HI Information Service
• 2025-08-10 Listed $457,500 HI Information Service
• 2025-08-05 Price Changed $2,550 APPFOLIO
• 2025-05-13 Listed for Rent $2,700 APPFOLIO
• 2008-03-28 Sold (Public Records) $23,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $991 · +3.9% YoY. Source: county tax records.