15-2697 Iao St · Hawaiian Beaches, HI 96778

$299,000

3 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 18 Days on market

Built 2004 0.35 ac lot

---

Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +3.7/10.0
• 1% rule +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious 4-bedroom, 2 half-bath home located in Hawaiian Beaches! Situated on a generous 15,077 sq ft lot, this property offers a beautifully matured lawn, paved driveway, and the convenience of a paved road frontage. Step inside to an open concept living area featuring vaulted ceilings and large windows that fill the home with abundant natural light. The open kitchen and dining area create a comfortable flow, perfect for everyday living and entertaining. The seller thoughtfully converted the garage into a spacious 4th primary bedroom, providing additional living space and flexibility for extended family, guests, or a home office setup. Enjoy outdoor living with a covered la

Key facts

• Large windows
• Paved road frontage
• Paved driveway

Tags

• PAVED DRIVEWAY
• PAVED ROAD FRONTAGE
• OPEN CONCEPT LIVING AREA
• VAULTED CEILINGS
• LARGE WINDOWS
• OPEN KITCHEN

Property features AI

Finance

• Other: Not used as a short-term vacation rental

Exterior

• Utilities: Electricity available; Private water source; Septic tank; No solid waste disposal service listed; Paved roads
• Exterior features: Fairly level topography; Grassy lot; Fee simple ownership; Lava zone 2

Interior

• Kitchen: Range; Microwave hood; Refrigerator; Disposal
• Flooring: Carpet
• Bathrooms: 2 half bathrooms
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $49 ($583/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (22.4% below list).
• Recommended offer: $232k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.8% in Hawaiian Beaches — 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 55/100 on livability (#128 in HI) — a working-class tenant base; expect higher turnover. Strengths: housing B; 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: 387 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $31k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $299k implies a 130% gain — meaningful room to come down on a strong offer.

Recommended offer $232,008 (22.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-45,496
• Equity at exit: $44,582

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-36,196
• Equity at exit: $25,852

Cash invested: $83,720 (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 96778

• Home prices YoY: -15.3%
• Active inventory: 387
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,320 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$92 /mo · $1,101/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $49

Break-even live

Break-even rent $2,259

Max offer price $299,000

Occupancy floor 93%

Sensitivity live

Price	-10% $218	-5% $133	+0% $49	+5% $-36	+10% $-121
Rent	-10% $-135	-5% $-43	+0% $49	+5% $140	+10% $232
Rate	-1.0pp $199	-0.5pp $125	base $49	+0.5pp $-29	+1.0pp $-108

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $299,000 Active 18 DOM
2. 2026-06-18
   price $299,000 Active 17 DOM
3. 2026-06-17
   days on market $330,000 Active 17 DOM
4. 2026-06-16
   days on market $330,000 Active 16 DOM
5. 2026-06-15
   days on market $330,000 Active 15 DOM
6. 2026-06-13
   days on market $330,000 Active 13 DOM
7. 2026-06-13
   days on market $330,000 Active 12 DOM
8. 2026-06-10
   days on market $330,000 Active 10 DOM
9. 2026-06-09
   days on market $330,000 Active 9 DOM
10. 2026-06-08
    days on market $330,000 Active 8 DOM
11. 2026-06-07
    days on market $330,000 Active 7 DOM
12. 2026-06-05
    days on market $330,000 Active 4 DOM
13. 2026-06-03
    days on market $330,000 Active 3 DOM
14. 2026-06-02
    days on market $330,000 Active 2 DOM
15. 2026-06-01
    remarks 699-char remark
16. 2026-06-01
    listed $330,000 Active 1 DOM

ⓘ 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: $1,101 · $92/mo
• Projected year-2 tax: $1,101 · $92/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $27,841
• − Mortgage interest: −$16,749
• − Property taxes: −$1,101
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,227
• − Management: −$2,227
• − Depreciation: −$8,698
• Taxable loss: −$4,656
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $1,700/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 — Hawaiian Beaches

• Score: 55/100
• State rank: #128
• US rank: #23148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawaiian Beaches, HI
• Population (ZIP): 14,225

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 0.82)
• Race & ethnicity: White 37% Two or more races 30% Hispanic / Latino 15% Pacific Islander 15% Asian 12%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Russian 7% Italian 3% Romanian 3%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 11% Tagalog/Filipino 1% Russian/Polish/Slavic 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: ▼ -31.52%
• Current HPI: 173.8168
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+83.3% since first listed

22 events — show timeline

• 2026-05-19 Listed $330,000 HI Information Service
• 2023-07-16 Listing Removed — HI Information Service
• 2023-07-06 Price Changed $310,000 HI Information Service
• 2023-06-25 Price Changed $315,000 HI Information Service
• 2023-06-08 Listed $320,000 HI Information Service
• 2021-11-29 Listing Removed — HI Information Service
• 2021-11-15 Price Changed $285,000 HI Information Service
• 2021-10-19 Price Changed $290,000 HI Information Service
• 2021-09-16 Price Changed $299,000 HI Information Service
• 2021-08-23 Price Changed $300,000 HI Information Service
• 2021-08-05 Listed $325,000 HI Information Service
• 2019-06-20 Listing Removed — HI Information Service
• 2019-04-28 Price Changed $230,000 HI Information Service
• 2019-03-06 Listed $235,000 HI Information Service
• 2016-01-21 Sold (MLS) $130,000 HI Information Service
• 2016-01-21 Sold (Public Records) $130,000 Public Records
• 2015-12-03 Pending — HI Information Service
• 2015-11-13 Contingent — HI Information Service
• 2015-11-06 Listed $134,000 HI Information Service
• 2014-08-28 Sold (MLS) $160,000 HI Information Service
• 2014-08-28 Sold (Public Records) $160,000 Public Records
• 2014-05-14 Listed $180,000 HI Information Service

Property tax history

-3.2%/yr

Latest (2025): $1,101 · +3.9% YoY. Source: county tax records.