85-152 Ala Walua St Unit B · Waianae, HI 96792

$189,000

3 bd · 1.5 ba · 951 sqft · Condo · 171 Days on market

Built 1974 Fair condition $199/sqft · 21% above area Est $156k · 21% over $300/mo HOA · 12% of rent ↓ 17% since listing

---

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 +25.6/30.0
• 1% rule +8.8/10.0
• DSCR +8.5/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

Key facts

• Brand new flooring
• $300 HOA
• 2 parking spots

Tags

• FULLY FENCED BACKYARD
• DEDICATED PARKING STALLS
• BRAND NEW FLOORING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $189k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#67 in HI) — a middle-class / working-renter tenant base. Strengths: commute B+, employment B+, housing B; Watch: health & safety C-, schools F, 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: Rents rising (+3.4%/yr); 250 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• This rent runs 36% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.38% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 6.1

CMA / ARV

• ARV (median comp): $155,818
• List price: $189,000
• Delta: 21.30%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-909
• Equity at exit: $28,181

10-year hold

• IRR: 9.8%
• Equity multiple: 1.77×
• Total profit: $40,934
• Equity at exit: $16,341

Cash invested: $52,920 (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 96792

• Home prices YoY: -18.8%
• Rents YoY: 3.4%
• Active inventory: 250
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,599 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$300
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $447

Break-even live

Break-even rent $2,033

Max offer price $189,000

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-1111 Lahaina St Unit A Waianae, HI	3.0	2.0	920	$2,900	$3.15	43d	1	0.92mi
84-1026 Hana St #3 Waianae, HI	2.0	1.0	600	$2,000	$3.33	43d	1	1.06mi
84-956 Hanalei St Unit B Waianae, HI	3.0	1.0	800	$3,300	$4.12	43d	1	1.14mi
86-027 Glenmonger St Waianae, HI	2.0	2.0	576	$1,800	$3.12	43d	1	1.18mi
84-917 Hanalei St Unit C Waianae, HI	3.0	1.0	700	$2,400	$3.43	2d	1	1.22mi
84-917 Hanalei St Waianae, HI	3.0	1.0	700	$2,500	$3.57	43d	1	1.22mi
84-824 Farrington Hwy Waianae, HI	2.0	1.0	700	$2,200	$3.14	23d	1	1.47mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• ⚠ Special-assessment mentions:

  …is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

Listing history 20 events

1. 2026-06-18
   days on market $189,000 Active 171 DOM
2. 2026-06-17
   days on market $189,000 Active 170 DOM
3. 2026-06-15
   days on market $189,000 Active 168 DOM
4. 2026-06-13
   days on market $189,000 Active 166 DOM
5. 2026-06-13
   days on market $189,000 Active 165 DOM
6. 2026-06-10
   days on market $189,000 Active 163 DOM
7. 2026-06-09
   days on market $189,000 Active 162 DOM
8. 2026-06-08
   days on market $189,000 Active 161 DOM
9. 2026-06-07
   days on market $189,000 Active 160 DOM
10. 2026-06-05
    days on market $189,000 Active 157 DOM
11. 2026-06-03
    days on market $189,000 Active 156 DOM
12. 2026-06-02
    days on market $189,000 Active 155 DOM
13. 2026-06-01
    days on market $189,000 Active 154 DOM
14. 2026-05-31
    days on market $189,000 Active 153 DOM
15. 2026-05-11
    price $189,000 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

16. 2026-04-30
    price $199,000 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

17. 2026-04-14
    price $208,750 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

18. 2026-02-26
    price $209,750 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

19. 2026-01-23
    price $219,750 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

20. 2025-12-29
    listed $228,500 Active 853-char remark

    Show marketing remark (853 chars)

    Seller is offering a $5,000.00 credit toward Buyer’s closing costs! Apply it to a 2/1 Buydown and enjoy a lower interest rate from day one. Step into an affordable first home that delivers comfort, ease, and a great start to your homeownership journey. This newly remodeled two story townhome provides a comfortable layout, a fully fenced backyard and two dedicated parking stalls! Freshly painted with brand new flooring and stainless steel appliances! Enjoy financial peace of mind with the option to extend the lease for mortgage purposes to 2055. Current monthly Lease rent is $82.25 until April 9,2030. Whether you're starting a family or looking to invest in your future, this is the smart choice for those seeking value and a place to call home! See Supplements for Lease Extension Terms and Special Assessment $127/Month to November 2026.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $31,193
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,495
• − Management: −$2,495
• − HOA: −$3,600
• − Depreciation: −$5,498
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $4,712/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

Fair 45/100 Moderate rehab

This two-story townhome requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, interior paint, and landscaping.

Repairs flagged

• Major kitchen cabinets — dated and worn
• Major interior paint — worn and uneven
• Minor landscaping — basic and overgrown

Value-add opportunities

• Resale new kitchen cabinets and countertops — modernizes the kitchen and adds value
• Resale exterior paint — enhances curb appeal and value
• Both landscaping — improves curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Major	$15,000–50,000
interior paint · worn and uneven	Major	$15,000–50,000
landscaping · basic and overgrown	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale new kitchen cabinets and countertops — modernizes the kitchen and adds value ↑
• Resale exterior paint — enhances curb appeal and value ↑
• Both landscaping — improves curb appeal and adds value ↑

ⓘ 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 — Waianae

• Score: 63/100
• State rank: #67
• US rank: #15629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waianae, HI
• County: Honolulu County · 963,448 people
• City population: 49,618
• Metro: Urban Honolulu, HI
• Population (ZIP): 49,618
• Household income: $87,509
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1706.0

Population outlook (Honolulu County) Hauer SSP2

• Today (2025): 1,072,641 people
• By 2030: 1,110,460 · +3.5%
• By 2040: 1,181,593 · +10.2%
• By 2050: 1,257,584 · +17.2%
• By 2075: 1,501,120 · +39.9%
• By 2100: 1,764,430 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.96)
• Race & ethnicity: Pacific Islander 42% Two or more races 32% Hispanic / Latino 13% Asian 10% White 10% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Russian 6% Romanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 82% English-only · Other Asian/Pacific 13% Tagalog/Filipino 2% Spanish 1%

Political lean MEDSL · Honolulu

• 2024 margin: Strong D (+21.6) · D 59.9% · R 38.3% · Other 1.8%
• 2008→2024 swing: -19.4pp toward R · 2008: 41.1pp · 2024: 21.6pp
• All cycles: 2024: D+21.6 2020: D+26.9 2016: D+29.9 2012: D+39.1 2008: D+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.72%
• Current HPI: 477.9187
• Rent YoY: ▲ 3.38%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-17.3% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $189,000 HiCentral MLS
• 2026-04-30 Price Changed $199,000 HiCentral MLS
• 2026-04-14 Price Changed $208,750 HiCentral MLS
• 2026-02-26 Price Changed $209,750 HiCentral MLS
• 2026-01-23 Price Changed $219,750 HiCentral MLS
• 2025-12-29 Listed $228,500 HiCentral MLS