12-4323 Cook St · Black Sands, HI 96778

$109,000

2 bd · 1.5 ba · 864 sqft · SingleFamily · 44 Days on market

Built 2016 Poor condition 7,750 sqft lot $126/sqft · 62% below area

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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
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unique compound of three structures connected by covered walkways. PV electric system and rainwater catchment. Black Sand Beach Subdivision is in Lava Zone 2. Ten minutes from Pahoa, close to Kaimu Store and the beautiful 'Red Road', Uncle Robert's Saturday Farmer's Market, Kehena Beach and Pohoiki hot ponds. Owner will consider financing with $20,000 DOWN $1000 per month 6 year term 8% interestSTRICTLY NO SHOWINGS WITHOUT AN APPOINTMENT !Information herein deemed reliable but not guaranteed. Buyer and buyer's agent to do their own due diligence of all pertinent facts.

Key facts

• 7,750 sq ft lot
• Built 2016
• Listed 44 days

Property features AI

Finance

• Other: Pets allowed
• Financial info: Not used as a short-term vacation rental
• HOA & community: No common area expenses

Exterior

• Parking: Unassigned parking
• Utilities: Photovoltaic power; Cable available; Electricity available; Phone available; Catchment water; Cesspool sewer; No solid waste disposal service listed
• Home design: Double wall construction; Updated/remodeled condition; Property attached; Fee simple ownership; Lava Zone 2
• Construction: Double wall construction
• Exterior features: Wire fencing; Cleared, grassy lot; Road frontage on a road/street; Fairly level topography

Interior

• Flooring: Vinyl
• Bathrooms: 1 total bathroom (includes 1 full and 1 quarter bathroom)
• Interior features: Vinyl flooring

🏷️ Possibly a rental listed for sale. The $109,000 price doesn't fit this home's estimated sale value (~$285,710) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $109k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $106k (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 $754 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $30k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.17%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $285,710
• List price: $109,000
• Delta: -61.85%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 1.86×
• Total profit: $26,369
• Equity at exit: $16,252

10-year hold

• IRR: 29.3%
• Equity multiple: 3.61×
• Total profit: $79,735
• Equity at exit: $9,424

Cash invested: $30,520 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $691

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 57%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $109,000 Active 44 DOM
2. 2026-06-17
   days on market $109,000 Active 43 DOM
3. 2026-06-16
   days on market $109,000 Active 42 DOM
4. 2026-06-15
   days on market $109,000 Active 41 DOM
5. 2026-06-13
   days on market $109,000 Active 39 DOM
6. 2026-06-13
   days on market $109,000 Active 38 DOM
7. 2026-06-10
   days on market $109,000 Active 36 DOM
8. 2026-06-09
   days on market $109,000 Active 35 DOM
9. 2026-06-08
   days on market $109,000 Active 34 DOM
10. 2026-06-07
    days on market $109,000 Active 33 DOM
11. 2026-06-05
    days on market $109,000 Active 30 DOM
12. 2026-06-03
    days on market $109,000 Active 29 DOM
13. 2026-06-02
    days on market $109,000 Active 28 DOM
14. 2026-06-01
    days on market $109,000 Active 27 DOM
15. 2026-05-31
    days on market $109,000 Active 26 DOM
16. 2026-04-26
    listed $139,000 Active 776-char remark
17. 2023-04-11
    soldstatus $80,000 Sold 576-char remark

    Show marketing remark (576 chars)

    Unique compound of three structures connected by covered walkways. PV electric system and rainwater catchment. Black Sand Beach Subdivision is in Lava Zone 2. Ten minutes from Pahoa, close to Kaimu Store and the beautiful 'Red Road', Uncle Robert's Saturday Farmer's Market, Kehena Beach and Pohoiki hot ponds. Owner will consider financing with $20,000 DOWN $1000 per month 6 year term 8% interestSTRICTLY NO SHOWINGS WITHOUT AN APPOINTMENT !Information herein deemed reliable but not guaranteed. Buyer and buyer's agent to do their own due diligence of all pertinent facts.

18. 2023-02-18
    historical Contingent 576-char remark

    Show marketing remark (576 chars)

    Unique compound of three structures connected by covered walkways. PV electric system and rainwater catchment. Black Sand Beach Subdivision is in Lava Zone 2. Ten minutes from Pahoa, close to Kaimu Store and the beautiful 'Red Road', Uncle Robert's Saturday Farmer's Market, Kehena Beach and Pohoiki hot ponds. Owner will consider financing with $20,000 DOWN $1000 per month 6 year term 8% interestSTRICTLY NO SHOWINGS WITHOUT AN APPOINTMENT !Information herein deemed reliable but not guaranteed. Buyer and buyer's agent to do their own due diligence of all pertinent facts.

19. 2023-01-18
    price $80,000 576-char remark

    Show marketing remark (576 chars)

    Unique compound of three structures connected by covered walkways. PV electric system and rainwater catchment. Black Sand Beach Subdivision is in Lava Zone 2. Ten minutes from Pahoa, close to Kaimu Store and the beautiful 'Red Road', Uncle Robert's Saturday Farmer's Market, Kehena Beach and Pohoiki hot ponds. Owner will consider financing with $20,000 DOWN $1000 per month 6 year term 8% interestSTRICTLY NO SHOWINGS WITHOUT AN APPOINTMENT !Information herein deemed reliable but not guaranteed. Buyer and buyer's agent to do their own due diligence of all pertinent facts.

20. 2022-12-27
    listed $111,000 Active 576-char remark

    Show marketing remark (576 chars)

    Unique compound of three structures connected by covered walkways. PV electric system and rainwater catchment. Black Sand Beach Subdivision is in Lava Zone 2. Ten minutes from Pahoa, close to Kaimu Store and the beautiful 'Red Road', Uncle Robert's Saturday Farmer's Market, Kehena Beach and Pohoiki hot ponds. Owner will consider financing with $20,000 DOWN $1000 per month 6 year term 8% interestSTRICTLY NO SHOWINGS WITHOUT AN APPOINTMENT !Information herein deemed reliable but not guaranteed. Buyer and buyer's agent to do their own due diligence of all pertinent facts.

21. 2022-04-22
    soldstatus $66,000 Sold

    Show marketing remark (1167 chars)

    A Unique, unpermitted, self contained compound in Black Sand Beach. Approximately 864 sq. ft. , 2 bedroom 1 bathroom. The main structure contains kitchen, dining & living downstairs, upstairs is the main bedroom with lanai. Separate structures connected by covered walkways include a second bedroom with an additional sleeping loft. Utility room and the bathing room. Utilities provided by rain catchment and solar systems. Minutes from all the 'Red Road attractions of Lower Puna; Uncle's Awa Club with mid-week music venue and Saturday morning farmer's market. Kehena Beach and Pohoiki hot ponds. Gorgeous coastline with painting, fishing, hiking and biking opportunities. Kaimu Store is nearby and Pahoa Town is 7 miles back up the highway. Tenant occupied / showings by appointment only / contact listing agentTenant requests Tuesday or Saturday showings 11 to 1. Owners offering PMM financing with $20K down. Tenant offers future owners complimentary housesitting per your transition needs. Information here is deemed accurate but not guaranteed. Agents and Buyers to do their own due diligence with regards to information provided and the property itself.

22. 2022-03-17
    historical Contingent

    Show marketing remark (1167 chars)

    A Unique, unpermitted, self contained compound in Black Sand Beach. Approximately 864 sq. ft. , 2 bedroom 1 bathroom. The main structure contains kitchen, dining & living downstairs, upstairs is the main bedroom with lanai. Separate structures connected by covered walkways include a second bedroom with an additional sleeping loft. Utility room and the bathing room. Utilities provided by rain catchment and solar systems. Minutes from all the 'Red Road attractions of Lower Puna; Uncle's Awa Club with mid-week music venue and Saturday morning farmer's market. Kehena Beach and Pohoiki hot ponds. Gorgeous coastline with painting, fishing, hiking and biking opportunities. Kaimu Store is nearby and Pahoa Town is 7 miles back up the highway. Tenant occupied / showings by appointment only / contact listing agentTenant requests Tuesday or Saturday showings 11 to 1. Owners offering PMM financing with $20K down. Tenant offers future owners complimentary housesitting per your transition needs. Information here is deemed accurate but not guaranteed. Agents and Buyers to do their own due diligence with regards to information provided and the property itself.

23. 2021-12-18
    listed $75,000 Active

    Show marketing remark (1167 chars)

    A Unique, unpermitted, self contained compound in Black Sand Beach. Approximately 864 sq. ft. , 2 bedroom 1 bathroom. The main structure contains kitchen, dining & living downstairs, upstairs is the main bedroom with lanai. Separate structures connected by covered walkways include a second bedroom with an additional sleeping loft. Utility room and the bathing room. Utilities provided by rain catchment and solar systems. Minutes from all the 'Red Road attractions of Lower Puna; Uncle's Awa Club with mid-week music venue and Saturday morning farmer's market. Kehena Beach and Pohoiki hot ponds. Gorgeous coastline with painting, fishing, hiking and biking opportunities. Kaimu Store is nearby and Pahoa Town is 7 miles back up the highway. Tenant occupied / showings by appointment only / contact listing agentTenant requests Tuesday or Saturday showings 11 to 1. Owners offering PMM financing with $20K down. Tenant offers future owners complimentary housesitting per your transition needs. Information here is deemed accurate but not guaranteed. Agents and Buyers to do their own due diligence with regards to information provided and the property itself.

ⓘ 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: $21,937
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$3,171
• Taxable income: $6,970
• Est. tax owed @ 24.0%: −$1,673
• After-tax cash flow: $6,618/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

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance to improve its condition and increase its value. The exterior, interior, and HVAC systems are in poor condition, and the landscaping is overgrown. Updates to these areas will significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Peeling and damaged, structural issues.
• Major Roof — Visible damage.
• Major Flooring — Worn and damaged, with visible cracks and uneven surfaces.
• Major Interior walls/paint — Peeling paint and visible damage.
• Major Bathroom — Visible damage and wear.
• Major HVAC system — Old and in poor condition.
• Major Landscaping — Overgrown and in poor condition, with visible debris and damage to the fence and pathway.

Value-add opportunities

• Resale Replace exterior siding and roof — Aesthetically pleasing and structurally sound exterior will attract buyers.
• Resale Replace flooring and interior walls/paint — Aesthetically pleasing and structurally sound interior will attract buyers.
• Resale Update bathroom — A modern and functional bathroom will attract buyers.
• Both Replace HVAC system — A reliable HVAC system will improve comfort and energy efficiency.
• Both Maintain and improve landscaping — A well-maintained and attractive landscape will improve curb appeal and attract buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Peeling and damaged, structural issues.	Major	$15,000–50,000
Roof · Visible damage.	Major	$15,000–50,000
Flooring · Worn and damaged, with visible cracks and uneven surfaces.	Major	$15,000–50,000
Interior walls/paint · Peeling paint and visible damage.	Major	$15,000–50,000
Bathroom · Visible damage and wear.	Major	$15,000–50,000
HVAC system · Old and in poor condition.	Major	$15,000–50,000
Landscaping · Overgrown and in poor condition, with visible debris and damage to the fence and pathway.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale Replace exterior siding and roof — Aesthetically pleasing and structurally sound exterior will attract buyers. ↑
• Resale Replace flooring and interior walls/paint — Aesthetically pleasing and structurally sound interior will attract buyers. ↑
• Resale Update bathroom — A modern and functional bathroom will attract buyers. ↑
• Both Replace HVAC system — A reliable HVAC system will improve comfort and energy efficiency. ↑
• Both Maintain and improve landscaping — A well-maintained and attractive landscape will improve curb appeal and attract buyers/renters. ↑

ⓘ 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

+45.3% since first listed

9 events — show timeline

• 2026-05-27 Price Changed $109,000 HI Information Service
• 2026-04-26 Listed $139,000 HI Information Service
• 2023-04-11 Sold (MLS) $80,000 HI Information Service
• 2023-02-18 Contingent — HI Information Service
• 2023-01-18 Price Changed $80,000 HI Information Service
• 2022-12-27 Listed $111,000 HI Information Service
• 2022-04-22 Sold (MLS) $66,000 HI Information Service
• 2022-03-17 Contingent — HI Information Service
• 2021-12-18 Listed $75,000 HI Information Service