92-1435 Aloha Blvd · Hawaiian Ocean View, HI 96737

$215,000

4 bd · 2.0 ba · 1,518 sqft · SingleFamily · 259 Days on market

Built 2008 Good condition 1.00 ac lot $142/sqft · 45% below area Est $394k · 45% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0
• Schools +1.5/10.0

Listing remarks MLS

Discover exceptional flexibility and value on this 1-acre Ocean View property, featuring a 4-bedroom, 2-bath home with strong multi-generational or rental potential! Built in 2008, the 1,518 sq. ft. home offers two identical living spaces—a full first floor and full second floor, each with the same layout, separate exterior entrances, and no interior connection. Perfect for extended ohana (family), guests, or dual-rental possibilities. The upper level includes a spacious lanai with sweeping ocean views, ideal for relaxing and enjoying the beautiful Hawaiian scenery. In addition to the main home, the property includes three 10' x 12' outbuildings, offering storage, workshop space, or creative-use potential. There’s also a massive 800 sq. ft. quonset-style greenhouse, ready for gardening, homesteading, or hobby projects. Infrastructure is a standout: 
• Overhead HELCO power
 • Two septic systems 
• 10,000-gallon catchment tank 
• Laminate wood flooring throughout the main home 
• Two driveways — one leading to the main house at the back of the lot, and another serving two of the outbuildings along with a large graded pad, a prime location for a future structure or possible ADU utilizing the second septic system (buyer to verify). Conveniently located close to the highway, essential amenities are just a short drive away, where you'll find gas stations, grocery stores, shopping centers, a hardware store, propane/rentals, local restaurants, a Post Office, and an auto parts store, ensuring all your daily needs are met with ease. Whether you’re looking for a flexible multi-generational setup, rental income potential, or room to grow, this versatile Ocean View property delivers opportunity on day one!

Key facts

• Three outbuildings
• 800 sq ft greenhouse
• Spacious lanai

Tags

• MULTI-GENERATIONAL POTENTIAL
• TWO IDENTICAL LIVING SPACES
• SEPARATE EXTERIOR ENTRANCES
• SPACIOUS LANAI
• THREE OUTBUILDINGS
• 800 SQ FT GREENHOUSE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 5.0% 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-, 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.
• Zoned schools: Naalehu Elementary School (math 8% / reading 22%, grade F, #171 of 183 statewide, top 94%, 422 students, 70% FRL) — zoned schools average 70% FRL vs 39% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 41% district-wide (-26 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
• Market conditions: 272 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).
• At $3,300/mo this rent would consume 86% of the median local household income ($46k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $6k 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 $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $130k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 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: 1.53% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.35%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (median comp): $393,906
• List price: $215,000
• Delta: -45.42%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92-9064 Lotus Blossom Ln	1.40mi	4/1.0	1,596 (+5%)	14mo	$145,000	$91	41
92-9143 Leilani Pkwy	0.97mi	3/2.0 (-1)	1,345 (-11%)	4mo	$385,000	$286	38
92-8872 Lotus Blossom Ln	1.50mi	3/2.0 (-1)	1,288 (-15%)	8mo	$326,000	$253	28
92-8930 Ginger Blossom Ln	0.94mi	3/2.0 (-1)	1,371 (-10%)	21mo	$390,000	$284	27
92-8951 Bougainvillaea Dr	0.85mi	3/1.5 (-1)	1,740 (+15%)	9mo	$363,700	$209	26
92-8951 Lotus Blossom Ln	1.30mi	3/2.0 (-1)	1,232 (-19%)	14mo	$475,000	$386	24

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: 28.6%
• Equity multiple: 2.62×
• Total profit: $97,358
• Equity at exit: $96,673

10-year hold

• IRR: 29.1%
• Equity multiple: 5.10×
• Total profit: $246,612
• Equity at exit: $148,985

Cash invested: $60,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 18.0 mo (6%/mo absorbed)
• Median asking: $435,000 ($277/sqft)
• Median days on market: 38 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: -6.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 96737

• Active inventory: 272
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,300 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $1,121

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,270	-5% $1,195	+0% $1,121	+5% $1,047	+10% $973
Rent	-10% $860	-5% $991	+0% $1,121	+5% $1,252	+10% $1,382
Rate	-1.0pp $1,229	-0.5pp $1,176	base $1,121	+0.5pp $1,065	+1.0pp $1,009

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: $53,750
• Closing costs: $6,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92-9039 Ginger Blossom Ln Ocean View, HI	3.0	2.0	1872	$3,300	$1.76	20d	1	0.52mi

Listing history 50 events

1. 2026-08-08
   days on market $215,000 Active 259 DOM
2. 2026-08-07
   days on market $215,000 Active 258 DOM
3. 2026-08-06
   days on market $215,000 Active 257 DOM
4. 2026-08-05
   days on market $215,000 Active 256 DOM
5. 2026-08-04
   days on market $215,000 Active 255 DOM
6. 2026-08-03
   days on market $215,000 Active 254 DOM
7. 2026-07-31
   days on market $215,000 Active 251 DOM
8. 2026-07-30
   days on market $215,000 Active 250 DOM
9. 2026-07-30
   pricedays on market $215,000 Active 249 DOM
10. 2026-07-28
    days on market $225,000 Active 248 DOM
11. 2026-07-26
    days on market $225,000 Active 246 DOM
12. 2026-07-24
    days on market $225,000 Active 244 DOM
13. 2026-07-23
    days on market $225,000 Active 243 DOM
14. 2026-07-22
    days on market $225,000 Active 242 DOM
15. 2026-07-21
    days on market $225,000 Active 241 DOM
16. 2026-07-20
    days on market $225,000 Active 240 DOM
17. 2026-07-18
    days on market $225,000 Active 238 DOM
18. 2026-07-18
    days on market $225,000 Active 237 DOM
19. 2026-07-15
    days on market $225,000 Active 235 DOM
20. 2026-07-14
    days on market $225,000 Active 234 DOM
21. 2026-07-13
    days on market $225,000 Active 233 DOM
22. 2026-07-13
    days on market $225,000 Active 232 DOM
23. 2026-07-11
    days on market $225,000 Active 231 DOM
24. 2026-07-10
    days on market $225,000 Active 230 DOM
25. 2026-07-10
    days on market $225,000 Active 229 DOM
26. 2026-07-07
    days on market $225,000 Active 227 DOM
27. 2026-07-06
    days on market $225,000 Active 226 DOM
28. 2026-07-05
    days on market $225,000 Active 225 DOM
29. 2026-07-03
    days on market $225,000 Active 223 DOM
30. 2026-07-02
    days on market $225,000 Active 222 DOM
31. 2026-07-01
    days on market $225,000 Active 221 DOM
32. 2026-06-30
    days on market $225,000 Active 220 DOM
33. 2026-06-29
    days on market $225,000 Active 219 DOM
34. 2026-06-29
    days on market $225,000 Active 218 DOM
35. 2026-06-27
    days on market $225,000 Active 217 DOM
36. 2026-06-27
    days on market $225,000 Active 216 DOM
37. 2026-06-25
    pricedays on market $225,000 Active 214 DOM
38. 2026-06-22
    days on market $250,000 Active 212 DOM
39. 2026-06-21
    days on market $250,000 Active 211 DOM
40. 2026-06-18
    days on market $250,000 Active 208 DOM
41. 2026-06-17
    days on market $250,000 Active 207 DOM
42. 2026-06-15
    days on market $250,000 Active 205 DOM
43. 2026-06-13
    days on market $250,000 Active 203 DOM
44. 2026-06-13
    days on market $250,000 Active 202 DOM
45. 2026-06-10
    days on market $250,000 Active 200 DOM
46. 2026-06-09
    days on market $250,000 Active 199 DOM
47. 2026-06-08
    days on market $250,000 Active 198 DOM
48. 2026-06-07
    days on market $250,000 Active 197 DOM
49. 2026-06-05
    days on market $250,000 Active 194 DOM
50. 2026-06-03
    days on market $250,000 Active 193 DOM

ⓘ 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: $39,600
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − Depreciation: −$6,255
• Taxable income: $10,666
• Est. tax owed @ 24.0%: −$2,560
• After-tax cash flow: $10,894/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 Est. rehab $7,590–$22,770 screening

This 4-bedroom, 2-bath home on a 1-acre ocean view property is in good condition with minimal repairs needed. It offers excellent multi-generational or rental potential.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and rental potential ↑
• Both Replace windows — Improves energy efficiency and value ↑
• Both Replace HVAC system — Improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Elementary Naalehu Elementary School F HI #171/183 Nat'l #36,424/41,679

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

F Composite livability gradescore 48/100

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
• County: Hawaii · 220,733 people
• City population: 3,781
• Population (ZIP): 3,781
• Household income: $46,200
• Rent vs Own: 25.3% rent · 74.7% own

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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%

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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%

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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

+44.7% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $275,000 HI Information Service
• 2026-01-28 Price Changed $299,000 HI Information Service
• 2025-12-30 Price Changed $320,000 HI Information Service
• 2025-11-20 Listed $345,000 HI Information Service
• 2014-09-02 Listed $200,000 HI Information Service
• 2013-12-12 Listed $190,000 HI Information Service