12-557 Hawaii St · Black Sands, HI 96778

$100,000

2 bd · 1.0 ba · 1,300 sqft · SingleFamily · 346 Days on market

Built 2015 Good condition 8,455 sqft lot $77/sqft · 61% below area ↓ 26% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADDED PERK - Seller just added 2 TMK's / 2 PARCELS with a total of 16,910 sq ft!! Imagine the possibilities-build another home, create an extended property, or enjoy an oversized yard. Escape to privacy and sustainability with this unique off-grid 2-story unpermitted home, nested toward the back of the property behind a gated entry. Perfect for those seeking independence an a peaceful, self-sufficient lifestyle. This property features a 4,000 gallon catchment tank, a solar power system with three 450-watt panels, six 100-watt panels, and a backup DeWalt generator to keep you powered up year-round. Adjacent parcel TMK 3-1-2-20-37 Seller financing is available with 50% down - an excellent opportunity for the right Buyer. Whether you're looking for a homestead, weekend getaway, or investment, this hidden gem promises endless potential in a quiet, natural setting.

Key facts

• Catchment tank
• Backup generator
• Gated entry

Tags

• GATED ENTRY
• CATCHMENT TANK
• SOLAR POWER SYSTEM
• BACKUP GENERATOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $923 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 346 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 346 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.13% ✓
• Cap rate: 18.17%
• Cash-on-cash: 42.41%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

• ARV (median comp): $254,284
• List price: $100,000
• Delta: -60.67%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.9%
• Equity multiple: 2.52×
• Total profit: $42,661
• Equity at exit: $14,910

10-year hold

• IRR: 42.6%
• Equity multiple: 5.04×
• Total profit: $113,149
• Equity at exit: $8,646

Cash invested: $28,000 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $923

Break-even live

Break-even rent $959

Max offer price $100,000

Occupancy floor 52%

Sensitivity live

Price	-10% $992	-5% $958	+0% $923	+5% $889	+10% $854
Rent	-10% $755	-5% $839	+0% $923	+5% $1,007	+10% $1,091
Rate	-1.0pp $973	-0.5pp $949	base $923	+0.5pp $897	+1.0pp $871

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $100,000 Active 346 DOM
2. 2026-06-17
   days on market $100,000 Active 345 DOM
3. 2026-06-15
   days on market $100,000 Active 343 DOM
4. 2026-06-13
   days on market $100,000 Active 341 DOM
5. 2026-06-13
   days on market $100,000 Active 340 DOM
6. 2026-06-10
   days on market $100,000 Active 338 DOM
7. 2026-06-09
   days on market $100,000 Active 337 DOM
8. 2026-06-08
   days on market $100,000 Active 336 DOM
9. 2026-06-07
   days on market $100,000 Active 335 DOM
10. 2026-06-05
    days on market $100,000 Active 332 DOM
11. 2026-06-03
    days on market $100,000 Active 331 DOM
12. 2026-06-02
    days on market $100,000 Active 330 DOM
13. 2026-06-01
    days on market $100,000 Active 329 DOM
14. 2026-05-31
    days on market $100,000 Active 328 DOM
15. 2026-04-13
    price $100,000 873-char remark

    Show marketing remark (873 chars)

    ADDED PERK - Seller just added 2 TMK's / 2 PARCELS with a total of 16,910 sq ft!! Imagine the possibilities-build another home, create an extended property, or enjoy an oversized yard. Escape to privacy and sustainability with this unique off-grid 2-story unpermitted home, nested toward the back of the property behind a gated entry. Perfect for those seeking independence an a peaceful, self-sufficient lifestyle. This property features a 4,000 gallon catchment tank, a solar power system with three 450-watt panels, six 100-watt panels, and a backup DeWalt generator to keep you powered up year-round. Adjacent parcel TMK 3-1-2-20-37 Seller financing is available with 50% down - an excellent opportunity for the right Buyer. Whether you're looking for a homestead, weekend getaway, or investment, this hidden gem promises endless potential in a quiet, natural setting.

16. 2025-09-23
    price $120,000 873-char remark

    Show marketing remark (873 chars)

    ADDED PERK - Seller just added 2 TMK's / 2 PARCELS with a total of 16,910 sq ft!! Imagine the possibilities-build another home, create an extended property, or enjoy an oversized yard. Escape to privacy and sustainability with this unique off-grid 2-story unpermitted home, nested toward the back of the property behind a gated entry. Perfect for those seeking independence an a peaceful, self-sufficient lifestyle. This property features a 4,000 gallon catchment tank, a solar power system with three 450-watt panels, six 100-watt panels, and a backup DeWalt generator to keep you powered up year-round. Adjacent parcel TMK 3-1-2-20-37 Seller financing is available with 50% down - an excellent opportunity for the right Buyer. Whether you're looking for a homestead, weekend getaway, or investment, this hidden gem promises endless potential in a quiet, natural setting.

17. 2025-07-07
    listed $135,000 Active 873-char remark

    Show marketing remark (873 chars)

    ADDED PERK - Seller just added 2 TMK's / 2 PARCELS with a total of 16,910 sq ft!! Imagine the possibilities-build another home, create an extended property, or enjoy an oversized yard. Escape to privacy and sustainability with this unique off-grid 2-story unpermitted home, nested toward the back of the property behind a gated entry. Perfect for those seeking independence an a peaceful, self-sufficient lifestyle. This property features a 4,000 gallon catchment tank, a solar power system with three 450-watt panels, six 100-watt panels, and a backup DeWalt generator to keep you powered up year-round. Adjacent parcel TMK 3-1-2-20-37 Seller financing is available with 50% down - an excellent opportunity for the right Buyer. Whether you're looking for a homestead, weekend getaway, or investment, this hidden gem promises endless potential in a quiet, natural setting.

ⓘ 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: $25,529
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$1,298
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$2,909
• Taxable income: $10,136
• Est. tax owed @ 24.0%: −$2,433
• After-tax cash flow: $8,645/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This off-grid 2-story home is in good condition with cosmetic repairs needed. Landscaping and encapsulation of exposed components can significantly increase its value.

Repairs flagged

• Minor Exposed plumbing and electrical components — Exposed plumbing and electrical components need encapsulation
• Minor Exposed HVAC components — Exposed HVAC components need encapsulation

Value-add opportunities

• Both Landscaping — Landscaping enhances curb appeal and can increase both resale and rental value
• Both Encapsulate exposed plumbing, electrical, and HVAC components — Encapsulation improves the home's appearance and can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing and electrical components · Exposed plumbing and electrical components need encapsulation	Minor	$500–3,000
Exposed HVAC components · Exposed HVAC components need encapsulation	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Landscaping — Landscaping enhances curb appeal and can increase both resale and rental value ↑
• Both Encapsulate exposed plumbing, electrical, and HVAC components — Encapsulation improves the home's appearance and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-25.9% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $100,000 HI Information Service
• 2025-09-23 Price Changed $120,000 HI Information Service
• 2025-07-07 Listed $135,000 HI Information Service