4183 Kamalani Ln · Princeville, HI 96722

$2,375,000

3 bd · 2.5 ba · 3,164 sqft · MultiFamily public records · 107 Days on market

Built 1978 9,957 sqft lot $751/sqft · 15% below area Est $2783k · 15% under $175/mo HOA · 1% of rent

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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).

• ARV discount +14.1/15.0
• Cash flow +11.0/30.0
• Appreciation +4.1/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• DSCR +3.2/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Nestled in the heart of Princeville, 4183 Kamalani Lane offers space, privacy, and serene mountain views in one of the North Shore’s most desirable neighborhoods. Located on a quiet cul-de-sac and backing to the former Makai Golf Woods Course, this 4-bedroom, 3-bath residence enjoys a peaceful setting with a lush, open backdrop. Inside, the home features a unique and thoughtfully designed floor plan that provides generous living spaces and flexibility of use with a separate entrance on the lower level. With four spacious bedrooms, a bonus room, a second living area, and three full baths, there is ample room to accommodate guests or a variety of living arrangements. The expansive covered lanai, including a screened-in portion, creates seamless indoor-outdoor living—perfect for relaxing, dining, and enjoying the mountain views and cooling trade winds year-round. Freshly painted exterior and lush tropical landscape creates a private oasis. Split A/C systems provide comfort throughout the home, while the overall layout offers both functionality and privacy. The property’s setting along the former Makai Woods fairways further enhances the sense of openness and tranquility. As a very busy vacation rental, the home is being offered fully furnished and turn-key presenting an opportunity to purchase an existing, well-established rental. The home would also make a great second home or primary residence. The flexible floor plan also lends itself to multi-generation living! Conveniently located near world-class beaches, golf, dining, and all that Princeville has to offer, this well-positioned home presents an exceptional opportunity in a highly sought-after location.

Key facts

• Screened-in portion
• Quiet cul-de-sac
• 9,957 sq ft lot

Tags

• SERENE MOUNTAIN VIEWS
• QUIET CUL-DE-SAC
• EXPANSIVE COVERED LANAI
• SCREENED-IN PORTION
• INDOOR-OUTDOOR LIVING
• FRESHLY PAINTED EXTERIOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $2.38M.

Deal economics

• At list price, monthly cash flow is $-994 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.20M (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.89M (20.3% below list).
• Recommended offer: $1.89M (20.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#33 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A; Watch: schools C-, commute C-, housing 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: 95 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 141 units permitted in Kauai County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $16k of loan paydown is wiped out by about $44k of value loss. Plan a longer hold.
• Kauai County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $995k; list at $2.38M implies a 139% gain — meaningful room to come down on a strong offer.

Recommended offer $1,891,779 (20.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.80% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• GRM: 10.5

CMA / ARV

• ARV (median comp): $2,782,569
• List price: $2,375,000
• Delta: -14.65%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.50×
• Total profit: $-329,961
• Equity at exit: $479,892

10-year hold

• IRR: -4.9%
• Equity multiple: 0.61×
• Total profit: $-262,533
• Equity at exit: $428,016

Cash invested: $665,000 (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 96722

• Home prices YoY: -0.3%
• Active inventory: 95
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $18,918 medium
• Mortgage (P&I): −$12,455
• Tax from tax record: −$2,320 /mo · $27,840/yr
• Insurance: −$990
• HOA: −$175
• Vacancy / Maint / Mgmt: −$3,973
• Net cashflow: $-994

Break-even live

Break-even rent $20,176

Max offer price $2,199,348

Occupancy floor —

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: $593,750
• Closing costs: $71,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4100 Queen Emmas Dr Princeville, HI	3.0	3.0	2479	$15,000	$6.05	43d	1	0.67mi
4271 Anini Rd Kilauea, HI	2.0	2.0	2109	$13,500	$6.40	43d	1	1.25mi
511 Weke Rd Hanalei, HI	3.0	3.5	3335	$30,000	$9.00	43d	1	1.42mi

HOA detail

• Monthly dues: $175 · $2,100/yr

Listing history 23 events

1. 2026-06-18
   days on market $2,375,000 Active 107 DOM
2. 2026-06-17
   days on market $2,375,000 Active 106 DOM
3. 2026-06-16
   days on market $2,375,000 Active 105 DOM
4. 2026-06-15
   days on market $2,375,000 Active 104 DOM
5. 2026-06-13
   days on market $2,375,000 Active 102 DOM
6. 2026-06-13
   days on market $2,375,000 Active 101 DOM
7. 2026-06-10
   days on market $2,375,000 Active 99 DOM
8. 2026-06-09
   days on market $2,375,000 Active 98 DOM
9. 2026-06-08
   days on market $2,375,000 Active 97 DOM
10. 2026-06-07
    days on market $2,375,000 Active 96 DOM
11. 2026-06-05
    days on market $2,375,000 Active 93 DOM
12. 2026-06-03
    days on market $2,375,000 Active 92 DOM
13. 2026-06-02
    days on market $2,375,000 Active 91 DOM
14. 2026-06-01
    days on market $2,375,000 Active 90 DOM
15. 2026-05-31
    days on market $2,375,000 Active 89 DOM
16. 2026-04-08
    price $2,375,000 1702-char remark

    Show marketing remark (1702 chars)

    Nestled in the heart of Princeville, 4183 Kamalani Lane offers space, privacy, and serene mountain views in one of the North Shore’s most desirable neighborhoods. Located on a quiet cul-de-sac and backing to the former Makai Golf Woods Course, this 4-bedroom, 3-bath residence enjoys a peaceful setting with a lush, open backdrop. Inside, the home features a unique and thoughtfully designed floor plan that provides generous living spaces and flexibility of use with a separate entrance on the lower level. With four spacious bedrooms, a bonus room, a second living area, and three full baths, there is ample room to accommodate guests or a variety of living arrangements. The expansive covered lanai, including a screened-in portion, creates seamless indoor-outdoor living—perfect for relaxing, dining, and enjoying the mountain views and cooling trade winds year-round. Freshly painted exterior and lush tropical landscape creates a private oasis. Split A/C systems provide comfort throughout the home, while the overall layout offers both functionality and privacy. The property’s setting along the former Makai Woods fairways further enhances the sense of openness and tranquility. As a very busy vacation rental, the home is being offered fully furnished and turn-key presenting an opportunity to purchase an existing, well-established rental. The home would also make a great second home or primary residence. The flexible floor plan also lends itself to multi-generation living! Conveniently located near world-class beaches, golf, dining, and all that Princeville has to offer, this well-positioned home presents an exceptional opportunity in a highly sought-after location.

17. 2026-02-12
    listed $2,450,000 Active 1702-char remark

    Show marketing remark (1702 chars)

    Nestled in the heart of Princeville, 4183 Kamalani Lane offers space, privacy, and serene mountain views in one of the North Shore’s most desirable neighborhoods. Located on a quiet cul-de-sac and backing to the former Makai Golf Woods Course, this 4-bedroom, 3-bath residence enjoys a peaceful setting with a lush, open backdrop. Inside, the home features a unique and thoughtfully designed floor plan that provides generous living spaces and flexibility of use with a separate entrance on the lower level. With four spacious bedrooms, a bonus room, a second living area, and three full baths, there is ample room to accommodate guests or a variety of living arrangements. The expansive covered lanai, including a screened-in portion, creates seamless indoor-outdoor living—perfect for relaxing, dining, and enjoying the mountain views and cooling trade winds year-round. Freshly painted exterior and lush tropical landscape creates a private oasis. Split A/C systems provide comfort throughout the home, while the overall layout offers both functionality and privacy. The property’s setting along the former Makai Woods fairways further enhances the sense of openness and tranquility. As a very busy vacation rental, the home is being offered fully furnished and turn-key presenting an opportunity to purchase an existing, well-established rental. The home would also make a great second home or primary residence. The flexible floor plan also lends itself to multi-generation living! Conveniently located near world-class beaches, golf, dining, and all that Princeville has to offer, this well-positioned home presents an exceptional opportunity in a highly sought-after location.

18. 2005-02-15
    soldstatus $995,000
19. 1995-11-07
    soldstatus $475,610
20. 1994-09-22
    soldstatus $570,000
21. 1992-12-04
    soldstatus $225,000
22. 1986-12-01
    soldstatus $205,000
23. 1977-10-01
    soldstatus $39,900

ⓘ 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: $27,840 · $2,320/mo
• Projected year-2 tax: $27,840 · $2,320/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: $227,013
• − Mortgage interest: −$133,037
• − Property taxes: −$27,840
• − Insurance: −$11,875
• − Repairs & maintenance: −$18,161
• − Management: −$18,161
• − HOA: −$2,100
• − Depreciation: −$69,091
• Taxable loss: −$53,252
• Est. tax savings @ 24.0%: +$12,780
• After-tax cash flow: $849/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 — Princeville

• Score: 68/100
• State rank: #33
• US rank: #9494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeville, HI
• Population (ZIP): 2,061

Population outlook (Kauai County) Hauer SSP2

• Today (2025): 80,681 people
• By 2030: 85,158 · +5.5%
• By 2040: 93,679 · +16.1%
• By 2050: 102,608 · +27.2%
• By 2075: 129,159 · +60.1%
• By 2100: 157,205 · +94.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 10% Asian 7% Black 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 86% English-only · Spanish 3% Russian/Polish/Slavic 3% German/W. Germanic 3%

Political lean MEDSL · Kauai

• 2024 margin: D (+19.5) · D 58.8% · R 39.3% · Other 1.9%
• 2008→2024 swing: -32.5pp toward R · 2008: 52.0pp · 2024: 19.5pp
• All cycles: 2024: D+19.5 2020: D+28.8 2016: D+33.7 2012: D+49.3 2008: D+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 611.0499
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+5852.4% since first listed

8 events — show timeline

• 2026-04-08 Price Changed $2,375,000 HI Information Service
• 2026-02-12 Listed $2,450,000 HI Information Service
• 2005-02-15 Sold (Public Records) $995,000 Public Records
• 1995-11-07 Sold (Public Records) $475,610 Public Records
• 1994-09-22 Sold (Public Records) $570,000 Public Records
• 1992-12-04 Sold (Public Records) $225,000 Public Records
• 1986-12-01 Sold (Public Records) $205,000 Public Records
• 1977-10-01 Sold (Public Records) $39,900 Public Records

Property tax history

+18.6%/yr

Latest (2025): $27,840 · +6.6% YoY. Source: county tax records.