16-1987 Sandalwood Ct · Tiki Gardens, HI 96760

$299,000

3 bd · 2.0 ba · 1,312 sqft · SingleFamily · 137 Days on market

Built 2007 8,100 sqft lot $228/sqft · 17% below area Est $360k · 17% under

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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 +15.0/15.0
• Appreciation +6.5/10.0
• Cash flow +5.6/30.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

3 bedroom 2 bath with attached carport in back of home. Spacious living room.

Key facts

• 8,100 sq ft lot
• Built 2007
• Listed 136 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-692 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (33.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (39.0% below list).
• Recommended offer: $182k (39.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.1% local appreciation)).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $71k; list at $299k implies a 320% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,426 (39.0% 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 137 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.61% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 13.7

CMA / ARV

• ARV (median comp): $360,356
• List price: $299,000
• Delta: -17.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16-423 Aina Pua St	0.27mi	3/2.0	1,315 (+0%)	9mo	$310,000	$236	79
16-1980 Sandalwood Ct	0.06mi	3/2.0	1,188 (-10%)	5mo	$352,000	$296	77
16-1995 Silversword Ct	0.07mi	3/2.0	1,206 (-8%)	8mo	$355,000	$294	76
16-2166 Aloha Dr	0.19mi	3/3.0	1,246 (-5%)	21mo	$385,000	$309	61
16-2046 Tiki Rd	0.42mi	3/2.0	1,208 (-8%)	12mo	$363,000	$300	57
16-2039 Uilani Dr	0.51mi	3/2.5	1,200 (-8%)	6mo	$415,000	$346	55
16-2087 Rainbow Dr	0.69mi	3/2.0	1,305 (-0%)	24mo	$410,000	$314	47
16-2082 Uilani Dr	0.68mi	3/2.0	1,424 (+8%)	8mo	$280,000	$197	47
16-2071 Jewel Dr	0.68mi	3/3.0	1,246 (-5%)	19mo	$395,000	$317	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.92×
• Total profit: $-6,541
• Equity at exit: $135,955

10-year hold

• IRR: 2.8%
• Equity multiple: 1.44×
• Total profit: $36,832
• Equity at exit: $210,706

Cash invested: $83,720 (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 96760

• Home prices YoY: 2.0%
• Active inventory: 95
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,824 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-692

Break-even live

Break-even rent $2,700

Max offer price $198,922

Occupancy floor —

Sensitivity live

Price	-10% $-485	-5% $-588	+0% $-692	+5% $-795	+10% $-898
Rent	-10% $-836	-5% $-764	+0% $-692	+5% $-620	+10% $-547
Rate	-1.0pp $-541	-0.5pp $-616	base $-692	+0.5pp $-769	+1.0pp $-848

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   remarks 286-char remark
2. 2026-06-21
   days on market $299,000 Active 137 DOM
3. 2026-06-18
   days on market $299,000 Active 134 DOM
4. 2026-06-17
   days on market $299,000 Active 133 DOM
5. 2026-06-16
   days on market $299,000 Active 132 DOM
6. 2026-06-15
   days on market $299,000 Active 131 DOM
7. 2026-06-13
   days on market $299,000 Active 129 DOM
8. 2026-06-13
   days on market $299,000 Active 128 DOM
9. 2026-06-10
   days on market $299,000 Active 126 DOM
10. 2026-06-09
    days on market $299,000 Active 125 DOM
11. 2026-06-08
    days on market $299,000 Active 124 DOM
12. 2026-06-07
    days on market $299,000 Active 123 DOM
13. 2026-06-05
    days on market $299,000 Active 120 DOM
14. 2026-06-03
    days on market $299,000 Active 119 DOM
15. 2026-06-02
    days on market $299,000 Active 118 DOM
16. 2026-06-01
    days on market $299,000 Active 117 DOM
17. 2026-05-31
    days on market $299,000 Active 116 DOM
18. 2026-02-04
    listed $299,000 Active 77-char remark

    Show marketing remark (77 chars)

    3 bedroom 2 bath with attached carport in back of home. Spacious living room.

19. 2018-05-15
    historical
20. 2018-04-16
    listed $185,000 Active
21. 2015-07-23
    soldstatus $71,200 Sold
22. 2015-01-08
    listed $105,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $21,891
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$2,292
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$8,698
• Taxable loss: −$13,836
• Est. tax savings @ 24.0%: +$3,321
• After-tax cash flow: $-4,979/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 — Tiki Gardens

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Tiki Gardens, HI
• Population (ZIP): 4,144

Population outlook (Hawaii County) Hauer SSP2

• Today (2025): 220,733 people
• By 2030: 232,156 · +5.2%
• By 2040: 252,486 · +14.4%
• By 2050: 272,703 · +23.5%
• By 2075: 332,113 · +50.5%
• By 2100: 398,342 · +80.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.85)
• Race & ethnicity: Two or more races 45% Hispanic / Latino 24% Asian 22% White 20% Pacific Islander 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 13%
• Common ancestry: Iranian 11% Russian 9% Italian 7%
• Foreign-born: 14% · China
• Languages at home: 73% English-only · Other Asian/Pacific 11% German/W. Germanic 6% Tagalog/Filipino 3%

Political lean MEDSL · Hawaii

• 2024 margin: Strong D (+28.3) · D 63.0% · R 34.7% · Other 2.3%
• 2008→2024 swing: -25.4pp toward R · 2008: 53.7pp · 2024: 28.3pp
• All cycles: 2024: D+28.3 2020: D+36.2 2016: D+36.6 2012: D+51.3 2008: D+53.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.09%
• Current HPI: 154.499
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+182.6% since first listed

5 events — show timeline

• 2026-02-04 Listed $299,000 HI Information Service
• 2018-05-15 Listing Removed — HI Information Service
• 2018-04-16 Listed $185,000 HI Information Service
• 2015-07-23 Sold (MLS) $71,200 HI Information Service
• 2015-01-08 Listed $105,800 HI Information Service