11-2766 Pikake St · Fern Acres, HI 96771

$155,000

3 bd · 1.5 ba · 524 sqft · SingleFamily · 153 Days on market

Built 2022 Good condition 2.00 ac lot ↓ 12% since listing

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +5.4/10.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Tropical Treehouse Retreat ! Located on two full acres of native Ohia Forest, pull into your private gated driveway and parking area then walk down a winding trail to your Rustic Modern chic 2 Large Bedrooms and 1 Bathroom home, elevated high off the ground in the trees. Climb the Monstera covered stairs and open the hatch door to adventure! Amazing forest views surround you, very private location with no visible neighbors. Bathroom features a spa like indoor/outdoor tub. Kitchen features a Stainless propane range sink, mini fridge and views! Bedrooms are located at opposite ends of the structure giving privacy. Lounge and read in the attached cargo net, unlock your inner child and connect with the land. Two Covered lanais on the upper level and covered lower level add outdoor living space. From the treehouse follow another winding trail to the separate studio A Frame cabin, nestled in it's own private grove of Ohia. Enjoy the bird's song and exceptional star viewing. Completely off grid and self- sufficient with solar power 3x400w panels + 3 LiFePo4 Batteries, rain water catchment, and flushing vermi-composting toilet. Property was mindfully cleared preserving the natural rainforest and features many edible plantings interspersed including Avocado, Ulu (breadfruit), Citrus, Bananas and more. Two full acres off a paved road, 30 minutes to hiking and adventuring at Hawaii Volcano National Park and 35 minutes to beaches, shopping and dining in Hilo. The nearby town of Mountain View offers several dining options as well.

Key facts

• Two covered lanais
• Private location
• Chef's kitchen

Tags

• PRIVATE LOCATION
• SPA LIKE INDOOR OUTDOOR TUB
• CHEF'S KITCHEN
• WINDING LANDSCAPED PATH
• TWO COVERED LANAIS
• SEPARATE STUDIO CABIN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#110 in HI) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+; Watch: health & safety C-, employment D, cost of living D.
• 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: 135 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 $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $38k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.43×
• Total profit: $18,661
• Equity at exit: $50,798

10-year hold

• IRR: 12.9%
• Equity multiple: 2.52×
• Total profit: $65,980
• Equity at exit: $65,899

Cash invested: $43,400 (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 96771

• Home prices YoY: 0.4%
• Active inventory: 135
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $278

Break-even live

Break-even rent $1,440

Max offer price $155,000

Occupancy floor 80%

Sensitivity live

Price	-10% $385	-5% $331	+0% $278	+5% $224	+10% $171
Rent	-10% $136	-5% $207	+0% $278	+5% $348	+10% $419
Rate	-1.0pp $356	-0.5pp $317	base $278	+0.5pp $237	+1.0pp $197

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $155,000 Active 153 DOM
2. 2026-06-18
   days on market $155,000 Active 150 DOM
3. 2026-06-17
   days on market $155,000 Active 149 DOM
4. 2026-06-16
   days on market $155,000 Active 148 DOM
5. 2026-06-15
   days on market $155,000 Active 147 DOM
6. 2026-06-13
   days on market $155,000 Active 145 DOM
7. 2026-06-13
   days on market $155,000 Active 144 DOM
8. 2026-06-10
   days on market $155,000 Active 142 DOM
9. 2026-06-09
   days on market $155,000 Active 141 DOM
10. 2026-06-08
    days on market $155,000 Active 140 DOM
11. 2026-06-07
    days on market $155,000 Active 139 DOM
12. 2026-06-05
    days on market $155,000 Active 136 DOM
13. 2026-06-03
    days on market $155,000 Active 135 DOM
14. 2026-06-02
    pricedays on market $155,000 Active 134 DOM
15. 2026-06-01
    days on market $170,000 Active 133 DOM
16. 2026-05-31
    days on market $170,000 Active 132 DOM
17. 2026-05-14
    price $170,000 1543-char remark

    Show marketing remark (1543 chars)

    Tropical Treehouse Retreat ! Located on two full acres of native Ohia Forest, pull into your private gated driveway and parking area then walk down a winding trail to your Rustic Modern chic 2 Large Bedrooms and 1 Bathroom home, elevated high off the ground in the trees. Climb the Monstera covered stairs and open the hatch door to adventure! Amazing forest views surround you, very private location with no visible neighbors. Bathroom features a spa like indoor/outdoor tub. Kitchen features a Stainless propane range sink, mini fridge and views! Bedrooms are located at opposite ends of the structure giving privacy. Lounge and read in the attached cargo net, unlock your inner child and connect with the land. Two Covered lanais on the upper level and covered lower level add outdoor living space. From the treehouse follow another winding trail to the separate studio A Frame cabin, nestled in it's own private grove of Ohia. Enjoy the bird's song and exceptional star viewing. Completely off grid and self- sufficient with solar power 3x400w panels + 3 LiFePo4 Batteries, rain water catchment, and flushing vermi-composting toilet. Property was mindfully cleared preserving the natural rainforest and features many edible plantings interspersed including Avocado, Ulu (breadfruit), Citrus, Bananas and more. Two full acres off a paved road, 30 minutes to hiking and adventuring at Hawaii Volcano National Park and 35 minutes to beaches, shopping and dining in Hilo. The nearby town of Mountain View offers several dining options as well.

18. 2026-05-05
    status Active 1543-char remark

    Show marketing remark (1543 chars)

    Tropical Treehouse Retreat ! Located on two full acres of native Ohia Forest, pull into your private gated driveway and parking area then walk down a winding trail to your Rustic Modern chic 2 Large Bedrooms and 1 Bathroom home, elevated high off the ground in the trees. Climb the Monstera covered stairs and open the hatch door to adventure! Amazing forest views surround you, very private location with no visible neighbors. Bathroom features a spa like indoor/outdoor tub. Kitchen features a Stainless propane range sink, mini fridge and views! Bedrooms are located at opposite ends of the structure giving privacy. Lounge and read in the attached cargo net, unlock your inner child and connect with the land. Two Covered lanais on the upper level and covered lower level add outdoor living space. From the treehouse follow another winding trail to the separate studio A Frame cabin, nestled in it's own private grove of Ohia. Enjoy the bird's song and exceptional star viewing. Completely off grid and self- sufficient with solar power 3x400w panels + 3 LiFePo4 Batteries, rain water catchment, and flushing vermi-composting toilet. Property was mindfully cleared preserving the natural rainforest and features many edible plantings interspersed including Avocado, Ulu (breadfruit), Citrus, Bananas and more. Two full acres off a paved road, 30 minutes to hiking and adventuring at Hawaii Volcano National Park and 35 minutes to beaches, shopping and dining in Hilo. The nearby town of Mountain View offers several dining options as well.

19. 2026-03-22
    price $182,500 1543-char remark

    Show marketing remark (1543 chars)

    Tropical Treehouse Retreat ! Located on two full acres of native Ohia Forest, pull into your private gated driveway and parking area then walk down a winding trail to your Rustic Modern chic 2 Large Bedrooms and 1 Bathroom home, elevated high off the ground in the trees. Climb the Monstera covered stairs and open the hatch door to adventure! Amazing forest views surround you, very private location with no visible neighbors. Bathroom features a spa like indoor/outdoor tub. Kitchen features a Stainless propane range sink, mini fridge and views! Bedrooms are located at opposite ends of the structure giving privacy. Lounge and read in the attached cargo net, unlock your inner child and connect with the land. Two Covered lanais on the upper level and covered lower level add outdoor living space. From the treehouse follow another winding trail to the separate studio A Frame cabin, nestled in it's own private grove of Ohia. Enjoy the bird's song and exceptional star viewing. Completely off grid and self- sufficient with solar power 3x400w panels + 3 LiFePo4 Batteries, rain water catchment, and flushing vermi-composting toilet. Property was mindfully cleared preserving the natural rainforest and features many edible plantings interspersed including Avocado, Ulu (breadfruit), Citrus, Bananas and more. Two full acres off a paved road, 30 minutes to hiking and adventuring at Hawaii Volcano National Park and 35 minutes to beaches, shopping and dining in Hilo. The nearby town of Mountain View offers several dining options as well.

20. 2025-12-30
    listed $192,500 Active 1543-char remark

    Show marketing remark (1543 chars)

    Tropical Treehouse Retreat ! Located on two full acres of native Ohia Forest, pull into your private gated driveway and parking area then walk down a winding trail to your Rustic Modern chic 2 Large Bedrooms and 1 Bathroom home, elevated high off the ground in the trees. Climb the Monstera covered stairs and open the hatch door to adventure! Amazing forest views surround you, very private location with no visible neighbors. Bathroom features a spa like indoor/outdoor tub. Kitchen features a Stainless propane range sink, mini fridge and views! Bedrooms are located at opposite ends of the structure giving privacy. Lounge and read in the attached cargo net, unlock your inner child and connect with the land. Two Covered lanais on the upper level and covered lower level add outdoor living space. From the treehouse follow another winding trail to the separate studio A Frame cabin, nestled in it's own private grove of Ohia. Enjoy the bird's song and exceptional star viewing. Completely off grid and self- sufficient with solar power 3x400w panels + 3 LiFePo4 Batteries, rain water catchment, and flushing vermi-composting toilet. Property was mindfully cleared preserving the natural rainforest and features many edible plantings interspersed including Avocado, Ulu (breadfruit), Citrus, Bananas and more. Two full acres off a paved road, 30 minutes to hiking and adventuring at Hawaii Volcano National Park and 35 minutes to beaches, shopping and dining in Hilo. The nearby town of Mountain View offers several dining options as well.

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,498
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$1,572
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − Depreciation: −$4,509
• Taxable income: $969
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $3,099/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 75/100 Cosmetic rehab

This treehouse retreat offers a unique and well-maintained living space with modern amenities and a stunning natural setting.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the natural setting and appeal
• Both Interior paint touch-ups — Maintains the modern aesthetic
• Both Outdoor lighting — Enhances safety and curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the natural setting and appeal ↑
• Both Interior paint touch-ups — Maintains the modern aesthetic ↑
• Both Outdoor lighting — Enhances safety and curb appeal ↑

ⓘ 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 — Fern Acres

• Score: 58/100
• State rank: #110
• US rank: #21467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fern Acres, HI
• Population (ZIP): 7,736

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 0.87)
• Race & ethnicity: Two or more races 41% White 33% Pacific Islander 16% Hispanic / Latino 14% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 9%
• Common ancestry: Russian 10% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 80% English-only · Other Asian/Pacific 7% Spanish 1% German/W. Germanic 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: ▲ 0.74%
• Current HPI: 169.8292
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.7% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $170,000 HI Information Service
• 2026-05-05 Relisted — HI Information Service
• 2026-03-22 Price Changed $182,500 HI Information Service
• 2025-12-30 Listed $192,500 HI Information Service