14-3449 Mauna Kea Rd

Nanawale Estates, HI 96778

$203,000D

3 bd · 3.0 ba · 1,122 sqft · Built 2005 · SingleFamily · Active Under Contract · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$1,065
• Tax + insurance: −$338
• HOA: −$10
• Vac / Maint / Mgmt: −$378
• Net cashflow: $9/mo
• Annual: $109/yr
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• 1% rule: 0.89%
• Cash to close: $56,840

Investor read

• This is a 3-bed/3.0-bath single-family listed at $203k. Condition is rated average.
• At list price, monthly cash flow is $9 ($109/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (11.3% below list).
• It's been on market 52 days — a 3% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (11.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#78 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: employment C-, health & safety C-, 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.
• Zoned schools: Keonepoko Elementary School (math 8% / reading 24%, grade F, #169 of 183 statewide, top 93%, 562 students, 75% FRL); Pahoa High & Intermediate School (math 17% / reading 42%, grade F, #35 of 43 statewide, top 86%, 723 students, 74% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 41% district-wide (-18 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
• Market conditions: 388 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).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $26k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Paint on exterior and interior walls shows signs of wear.
• Minor: Landscaping — Overgrown landscaping and lack of recent maintenance are visible.