55-060 Naupaka St

Laie, HI 96762

$1,600,000D+

4 bd · 2.0 ba · 1,478 sqft · Built 1972 · SingleFamily · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,500/mo
• Mortgage (P&I): −$8,391
• Tax + insurance: −$1,069
• HOA: −$0
• Vac / Maint / Mgmt: −$2,415
• Net cashflow: $-375/mo
• Annual: $-4,499/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• 1% rule: 0.72%
• Cash to close: $448,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $1.60M.
• At list price, monthly cash flow is $-375 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.53M (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.15M (28.1% below list).
• It's been on market 71 days — a 6% lower offer ($1.50M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.15M (28.1% below list) — sets the bar for 1% rule.
• In year one you build about $171k of equity ($11k loan paydown + $160k appreciation (10.0% local appreciation)).
• Location reads 80/100 on livability (#3 in HI, #1,833 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities F, cost of living F.
• Zoned schools: Laie Elementary School (math 66% / reading 64%, grade B+, #17 of 183 statewide, top 9%, 662 students, 52% FRL); Kahuku High & Intermediate School (math 22% / reading 47%, grade F, #30 of 43 statewide, top 76%, 1,319 students, 49% FRL).
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 15 sale attempts since 28y ago; this cycle's ask has dropped $2.50M (61%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $835k; list at $1.60M implies a 92% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$275k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 71 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.