12-548 Diamond Head Dr · Black Sands, HI 96778

$128,000

1 bd · 1.0 ba · 848 sqft · SingleFamily public records · 59 Days on market

Built 1985 1,500 sqft lot $151/sqft · 45% below area Est $234k · 45% under

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Why this score? — see what drove the B 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).

• Cash flow +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming redwood and cedar home nestled in the unique Black Sands Beach community. Soaring vaulted ceilings fill the interior with natural light, creating an open, airy atmosphere that enhances the home’s warm character. A classic clawfoot soaking tub adds a touch of vintage appeal, perfect for relaxing at the end of the day. The property is fully fenced and gated, offering privacy and security. The two lots are filled with lush tropical vegetation, where towering Royal Palms and native ʻŌhiʻa trees create a true island setting. The home is being sold partially furnished, and tools can be included, making it a great opportunity for a buyer ready to make it their own. Two TMKS with a total of 1,500 square feet of land (. 34 acre). This property needs some TLC, presenting a fantastic chance to add value and customize to your vision. Previous permits were not completed and are now canceled, which is reflected in the attractive price of $149,000. Cash only. Paved road access. Overhead electric & High-speed Hawaiian Telcom internet. Pahoa Town just a short 10 minute drive away. Front lanai needs immediate tear down & rebuild. Do not walk anywhere except near stairs and door. Large inventory of tools & materials to be included. TMK's: 3-1-2-21-51 3-1-2-21-50

Key facts

• Clawfoot soaking tub
• Paved road access
• 1,500 sq ft lot

Tags

• CLAWFOOT SOAKING TUB
• FULLY FENCED AND GATED
• LUSH TROPICAL VEGETATION
• PAVED ROAD ACCESS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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: 387 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $128k implies a 327% gain — meaningful room to come down on a strong offer.

Recommended offer $124,160 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.31% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $233,537
• List price: $128,000
• Delta: -45.19%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $7,614
• Equity at exit: $19,085

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $43,212
• Equity at exit: $11,067

Cash invested: $35,840 (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 96778

• Home prices YoY: -15.3%
• Active inventory: 387
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,920/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $445

Break-even live

Break-even rent $1,120

Max offer price $128,000

Occupancy floor 69%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $128,000 Active 59 DOM
2. 2026-06-17
   days on market $128,000 Active 58 DOM
3. 2026-06-16
   pricedays on market $128,000 Active 57 DOM
4. 2026-06-15
   days on market $129,000 Active 56 DOM
5. 2026-06-13
   days on market $129,000 Active 54 DOM
6. 2026-06-13
   days on market $129,000 Active 53 DOM
7. 2026-06-10
   days on market $129,000 Active 51 DOM
8. 2026-06-09
   days on market $129,000 Active 50 DOM
9. 2026-06-08
   days on market $129,000 Active 49 DOM
10. 2026-06-07
    days on market $129,000 Active 48 DOM
11. 2026-06-05
    days on market $129,000 Active 45 DOM
12. 2026-06-03
    days on market $129,000 Active 44 DOM
13. 2026-06-02
    days on market $129,000 Active 43 DOM
14. 2026-06-01
    days on market $129,000 Active 42 DOM
15. 2026-05-31
    days on market $129,000 Active 41 DOM
16. 2026-05-04
    price $129,000 1313-char remark

    Show marketing remark (1313 chars)

    Welcome to this charming redwood and cedar home nestled in the unique Black Sands Beach community. Soaring vaulted ceilings fill the interior with natural light, creating an open, airy atmosphere that enhances the home’s warm character. A classic clawfoot soaking tub adds a touch of vintage appeal, perfect for relaxing at the end of the day. The property is fully fenced and gated, offering privacy and security. The two lots are filled with lush tropical vegetation, where towering Royal Palms and native ʻŌhiʻa trees create a true island setting. The home is being sold partially furnished, and tools can be included, making it a great opportunity for a buyer ready to make it their own. Two TMKS with a total of 1,500 square feet of land (. 34 acre). This property needs some TLC, presenting a fantastic chance to add value and customize to your vision. Previous permits were not completed and are now canceled, which is reflected in the attractive price of $149,000. Cash only. Paved road access. Overhead electric & High-speed Hawaiian Telcom internet. Pahoa Town just a short 10 minute drive away. Front lanai needs immediate tear down & rebuild. Do not walk anywhere except near stairs and door. Large inventory of tools & materials to be included. TMK's: 3-1-2-21-51 3-1-2-21-50

17. 2026-03-30
    listed $149,000 Active 1313-char remark

    Show marketing remark (1313 chars)

    Welcome to this charming redwood and cedar home nestled in the unique Black Sands Beach community. Soaring vaulted ceilings fill the interior with natural light, creating an open, airy atmosphere that enhances the home’s warm character. A classic clawfoot soaking tub adds a touch of vintage appeal, perfect for relaxing at the end of the day. The property is fully fenced and gated, offering privacy and security. The two lots are filled with lush tropical vegetation, where towering Royal Palms and native ʻŌhiʻa trees create a true island setting. The home is being sold partially furnished, and tools can be included, making it a great opportunity for a buyer ready to make it their own. Two TMKS with a total of 1,500 square feet of land (. 34 acre). This property needs some TLC, presenting a fantastic chance to add value and customize to your vision. Previous permits were not completed and are now canceled, which is reflected in the attractive price of $149,000. Cash only. Paved road access. Overhead electric & High-speed Hawaiian Telcom internet. Pahoa Town just a short 10 minute drive away. Front lanai needs immediate tear down & rebuild. Do not walk anywhere except near stairs and door. Large inventory of tools & materials to be included. TMK's: 3-1-2-21-51 3-1-2-21-50

18. 2017-11-17
    status Under Contract
19. 2017-11-17
    status Active
20. 2017-11-17
    soldstatus $30,000
21. 2016-04-27
    historical
22. 2016-04-13
    listed $33,000
23. 2016-03-18
    price $33,000
24. 2016-01-11
    price $37,000
25. 2015-09-17
    listed $39,000 Active
26. 2013-10-28
    soldstatus $50,000
27. 2003-08-27
    soldstatus $16,000
28. 1989-07-01
    soldstatus $22,000
29. 1981-06-01
    soldstatus $6,000
30. 1981-05-01
    soldstatus $6,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $20,193
• − Mortgage interest: −$7,170
• − Property taxes: −$1,920
• − Insurance: −$640
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$3,724
• Taxable income: $3,509
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $4,496/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 — Black Sands

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

Census & demographics

• Census place: Black Sands, HI
• Population (ZIP): 14,225

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 0.82)
• Race & ethnicity: White 37% Two or more races 30% Hispanic / Latino 15% Pacific Islander 15% Asian 12%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Russian 7% Italian 3% Romanian 3%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 11% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

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: ▼ -31.52%
• Current HPI: 173.8168
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+2050.0% since first listed

15 events — show timeline

• 2026-05-04 Price Changed $129,000 HI Information Service
• 2026-03-30 Listed $149,000 HI Information Service
• 2017-11-17 Pending — HI Information Service
• 2017-11-17 Relisted — HI Information Service
• 2017-11-17 Sold (MLS) $30,000 HI Information Service
• 2016-04-27 Listing Removed — HI Information Service
• 2016-04-13 Listed $33,000 HI Information Service
• 2016-03-18 Price Changed $33,000 HI Information Service
• 2016-01-11 Price Changed $37,000 HI Information Service
• 2015-09-17 Listed $39,000 HI Information Service
• 2013-10-28 Sold (Public Records) $50,000 Public Records
• 2003-08-27 Sold (Public Records) $16,000 Public Records
• 1989-07-01 Sold (Public Records) $22,000 Public Records
• 1981-06-01 Sold (Public Records) $6,000 Public Records
• 1981-05-01 Sold (Public Records) $6,000 Public Records

Property tax history

-19.5%/yr

Latest (2025): $150 · +0.0% YoY. Source: county tax records.