85-114 Ala Walua St Unit B · Waianae, HI 96792

$225,000

3 bd · 1.5 ba · 951 sqft · Condo public records · 63 Days on market

Built 1974 $237/sqft · 27% above area Est $177k · 27% over $300/mo HOA · 11% of rent

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Why this score? — see what drove the C- 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 +24.0/30.0
• DSCR +7.7/10.0
• 1% rule +6.6/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right into this freshly updated, budget-friendly 3-bedroom, 1.5-bath townhouse—an exciting first step into homeownership! With brand new flooring throughout and fresh paint from top to bottom, you’ll enjoy a clean, modern feel from day one. Step outside to a fully fenced backyard—ideal for weekend BBQs, pets, play, and easy outdoor entertaining. It’s a smart, accessible purchase for first-time buyers, with room to grow and long-term potential. Lease rent is currently $74.16/month through 2029. The lease may be extended to 2055; if extended, monthly lease rent will be approximately $830.00/month-offering a clear path to longer-term stability. Eligible for multiple financing options, including FHA Spot loans and Conventional financing. See supplements for a copy of the Extended Lease Approval dated 2/26/26 and Special Assessment $127.00/Month until November 2026.

Key facts

• Fresh paint
• Brand new flooring
• $300 HOA

Tags

• FULLY FENCED BACKYARD
• BRAND NEW FLOORING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#67 in HI) — a middle-class / working-renter tenant base. Strengths: commute B+, employment B+, housing B; Watch: health & safety C-, schools F, 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: Rents rising (+3.4%/yr); 249 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• This rent runs 36% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $90k; list at $225k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.2

CMA / ARV

• ARV (median comp): $176,636
• List price: $225,000
• Delta: 27.38%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-7,339
• Equity at exit: $33,548

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $34,209
• Equity at exit: $19,454

Cash invested: $63,000 (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 96792

• Home prices YoY: -18.8%
• Rents YoY: 3.4%
• Active inventory: 249
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,621 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$94
• HOA: −$300
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $440

Break-even live

Break-even rent $2,064

Max offer price $225,000

Occupancy floor 78%

Sensitivity live

Price	-10% $567	-5% $504	+0% $440	+5% $376	+10% $313
Rent	-10% $233	-5% $337	+0% $440	+5% $544	+10% $647
Rate	-1.0pp $553	-0.5pp $497	base $440	+0.5pp $382	+1.0pp $322

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-1111 Lahaina St Unit A Waianae, HI	3.0	2.0	920	$2,900	$3.15	44d	1	0.96mi
84-1026 Hana St #3 Waianae, HI	2.0	1.0	600	$2,000	$3.33	44d	1	1.10mi
86-027 Glenmonger St Waianae, HI	2.0	2.0	576	$1,800	$3.12	44d	1	1.12mi
84-956 Hanalei St Unit B Waianae, HI	3.0	1.0	800	$3,300	$4.12	44d	1	1.18mi
84-917 Hanalei St Unit C Waianae, HI	3.0	1.0	700	$2,400	$3.43	4d	1	1.26mi
84-917 Hanalei St Waianae, HI	3.0	1.0	700	$2,500	$3.57	44d	1	1.26mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• ⚠ Special-assessment mentions:

  …FHA Spot loans and Conventional financing. See supplements for a copy of the Extended Lease Approval dated 2/26/26 and Special Assessment $127.00/Month until November 2026.

Listing history 24 events

1. 2026-06-21
   days on market $225,000 Active 63 DOM
2. 2026-06-18
   days on market $225,000 Active 60 DOM
3. 2026-06-17
   days on market $225,000 Active 59 DOM
4. 2026-06-16
   days on market $225,000 Active 58 DOM
5. 2026-06-15
   days on market $225,000 Active 57 DOM
6. 2026-06-13
   days on market $225,000 Active 55 DOM
7. 2026-06-13
   days on market $225,000 Active 54 DOM
8. 2026-06-10
   days on market $225,000 Active 52 DOM
9. 2026-06-09
   days on market $225,000 Active 51 DOM
10. 2026-06-08
    days on market $225,000 Active 50 DOM
11. 2026-06-07
    days on market $225,000 Active 49 DOM
12. 2026-06-05
    days on market $225,000 Active 46 DOM
13. 2026-06-03
    days on market $225,000 Active 45 DOM
14. 2026-06-02
    days on market $225,000 Active 44 DOM
15. 2026-06-01
    days on market $225,000 Active 43 DOM
16. 2026-05-31
    days on market $225,000 Active 42 DOM
17. 2026-04-19
    listed $225,000 Active 902-char remark

    Show marketing remark (902 chars)

    Move right into this freshly updated, budget-friendly 3-bedroom, 1.5-bath townhouse—an exciting first step into homeownership! With brand new flooring throughout and fresh paint from top to bottom, you’ll enjoy a clean, modern feel from day one. Step outside to a fully fenced backyard—ideal for weekend BBQs, pets, play, and easy outdoor entertaining. It’s a smart, accessible purchase for first-time buyers, with room to grow and long-term potential. Lease rent is currently $74.16/month through 2029. The lease may be extended to 2055; if extended, monthly lease rent will be approximately $830.00/month-offering a clear path to longer-term stability. Eligible for multiple financing options, including FHA Spot loans and Conventional financing. See supplements for a copy of the Extended Lease Approval dated 2/26/26 and Special Assessment $127.00/Month until November 2026.

18. 2013-08-30
    soldstatus $90,000 168-char remark

    Show marketing remark (168 chars)

    Great investment opportunity. Affordable & Spacious 3 bedroom/1 bath home with fenced in back yard. Convenient to schools, public tennis facilities, and bus line.

19. 2013-04-01
    listed $125,000 168-char remark

    Show marketing remark (168 chars)

    Great investment opportunity. Affordable & Spacious 3 bedroom/1 bath home with fenced in back yard. Convenient to schools, public tennis facilities, and bus line.

20. 2009-08-01
    historical
21. 2008-09-22
    listed $145,000
22. 2008-05-31
    historical
23. 2007-06-29
    listed $168,000
24. 1974-11-01
    soldstatus $34,600

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $682 · $57/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $31,452
• − Mortgage interest: −$12,603
• − Property taxes: −$682
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,516
• − Management: −$2,516
• − HOA: −$3,600
• − Depreciation: −$6,545
• Taxable income: $1,864
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $4,834/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 — Waianae

• Score: 63/100
• State rank: #67
• US rank: #15629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waianae, HI
• County: Honolulu County · 963,448 people
• City population: 49,618
• Metro: Urban Honolulu, HI
• Population (ZIP): 49,618
• Household income: $87,509
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1706.0

Population outlook (Honolulu County) Hauer SSP2

• Today (2025): 1,072,641 people
• By 2030: 1,110,460 · +3.5%
• By 2040: 1,181,593 · +10.2%
• By 2050: 1,257,584 · +17.2%
• By 2075: 1,501,120 · +39.9%
• By 2100: 1,764,430 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.96)
• Race & ethnicity: Pacific Islander 42% Two or more races 32% Hispanic / Latino 13% Asian 10% White 10% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Russian 6% Romanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 82% English-only · Other Asian/Pacific 13% Tagalog/Filipino 2% Spanish 1%

Political lean MEDSL · Honolulu

• 2024 margin: Strong D (+21.6) · D 59.9% · R 38.3% · Other 1.8%
• 2008→2024 swing: -19.4pp toward R · 2008: 41.1pp · 2024: 21.6pp
• All cycles: 2024: D+21.6 2020: D+26.9 2016: D+29.9 2012: D+39.1 2008: D+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.72%
• Current HPI: 477.9187
• Rent YoY: ▲ 3.38%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+550.3% since first listed

8 events — show timeline

• 2026-04-19 Listed $225,000 HiCentral MLS
• 2013-08-30 Sold (MLS) $90,000 HiCentral MLS
• 2013-04-01 Listed $125,000 HiCentral MLS
• 2009-08-01 Listing Removed — HiCentral MLS
• 2008-09-22 Listed $145,000 HiCentral MLS
• 2008-05-31 Listing Removed — HiCentral MLS
• 2007-06-29 Listed $168,000 HiCentral MLS
• 1974-11-01 Sold (Public Records) $34,600 Public Records

Property tax history

+7.1%/yr

Latest (2022): $682 · +2.4% YoY. Source: county tax records.