15-694 Kahakai Blvd · Hawaiian Beaches, HI 96778

$140,000

3 bd · 1.5 ba · 1,056 sqft · SingleFamily public records · 10 Days on market

Built 1973 0.35 ac lot Est $210k · 33% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision and unlock the potential of this fully fenced 3-bedroom, 1.5-bath home situated on a spacious parcel that offers room to grow. The backyard feels like your own private park, with mature mango trees, open green space, and plenty of room to enjoy the outdoors. Whether you're dreaming of gardens, play areas, entertaining spaces, or simply a peaceful retreat, the setting provides a wonderful canvas. The home offers a functional layout and is ready for updates and improvements to make it your own. Ideal for buyers looking to build equity through renovation, this property presents an opportunity to create something special while enjoying the benefits of a large usable lot. Prope

Key facts

• Fully fenced
• Open green space
• Large usable lot

Tags

• FULLY FENCED
• PRIVATE PARK
• MATURE MANGO TREES
• OPEN GREEN SPACE
• LARGE USABLE LOT

Property features AI

Finance

• Financial info: Not in use as a short-term vacation rental

Exterior

• Parking: Attached covered parking
• Utilities: Electricity available; Private water source; Cesspool sewer; No solid waste disposal listed
• Home design: Fee simple ownership; Zoned A-1A; Lava zone 2
• Exterior features: Chain link fencing; Cleared, grassy lot; Topography is fairly level to level

Interior

• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom; Total of 1 bathroom
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.3% 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: 389 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $36k; list at $140k implies a 284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.29% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $210,144
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15-2774 Aweoweo St	0.15mi	3/2.5	1,056 (0%)	7mo	$210,000	$199	83
15-672 Kahakai Blvd	0.09mi	2/2.0 (-1)	1,124 (+6%)	9mo	$175,000	$156	71

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $2,772
• Equity at exit: $20,874

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $35,366
• Equity at exit: $12,105

Cash invested: $39,200 (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 →

ZIP-level market 96778

• Home prices YoY: -15.3%
• Active inventory: 389
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$164 /mo · $1,971/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $399

Break-even live

Break-even rent $1,295

Max offer price $140,000

Occupancy floor 73%

Sensitivity live

Price	-10% $478	-5% $438	+0% $399	+5% $359	+10% $320
Rent	-10% $257	-5% $328	+0% $399	+5% $470	+10% $541
Rate	-1.0pp $469	-0.5pp $434	base $399	+0.5pp $362	+1.0pp $326

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14-610 Kapoho Cir Pahoa, HI	2.0	1.0	1210	$1,800	$1.49	45d	1	1.44mi

Listing history 8 events

1. 2026-06-21
   days on market $140,000 Active 10 DOM
2. 2026-06-18
   days on market $140,000 Active 7 DOM
3. 2026-06-17
   days on market $140,000 Active 6 DOM
4. 2026-06-16
   days on market $140,000 Active 5 DOM
5. 2026-06-15
   days on market $140,000 Active 4 DOM
6. 2026-06-13
   days on market $140,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $140,000 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: $1,971 · $164/mo
• Projected year-2 tax: $1,971 · $164/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$7,842
• − Property taxes: −$1,971
• − Insurance: −$1,498
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,073
• Taxable income: $2,760
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $4,123/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

+283.6% since first listed

2 events — show timeline

• 2026-06-11 Listed $140,000 HI Information Service
• 1973-06-01 Sold (Public Records) $36,500 Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,971 · +3.7% YoY. Source: county tax records.