11-2792 Ohia Ave

Eden Roc, HI 96771

$295,000D

4 bd · 3.5 ba · 1,218 sqft · Built 1990 · SingleFamily · Active · 220 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,408/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$547
• HOA: −$0
• Vac / Maint / Mgmt: −$506
• Net cashflow: $-192/mo
• Annual: $-2,305/yr
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• 1% rule: 0.82%
• Cash to close: $82,600

Investor read

• This is a 4-bed/3.5-bath single-family listed at $295k.
• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (18.4% below list).
• It's been on market 220 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $241k (18.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Location reads 52/100 on livability (#145 in HI) — a working-class tenant base; expect higher turnover. Strengths: housing B+, cost of living B; Watch: health & safety C-, schools F, crime 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.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 129 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $295k implies a 392% gain — meaningful room to come down on a strong offer.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 220 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?