14-3361 Mauna Kea Rd

Nanawale Estates, HI 96778

$92,000B

1 bd · 1.0 ba · 480 sqft · Built 2009 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,441/mo
• Mortgage (P&I): −$482
• Tax + insurance: −$153
• HOA: −$11
• Vac / Maint / Mgmt: −$303
• Net cashflow: $492/mo
• Annual: $5,898/yr
• Cap rate: 12.70%
• Cash-on-cash: 22.90%
• DSCR: 2.02
• 1% rule: 1.57%
• Cash to close: $25,760

Investor read

• This is a 1-bed/1.0-bath single-family listed at $92k. Condition is rated good.
• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• It's been on market 24 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k 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-, schools 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: 387 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• 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?
• 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.