92-8564 Koa Ln

Hawaiian Ocean View, HI 96737

$310,000C

3 bd · 2.0 ba · 2,036 sqft · Built 2005 · SingleFamily · Active · 309 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,917/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$613
• Net cashflow: $162/mo
• Annual: $1,942/yr
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $86,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $310k.
• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (5.9% below list).
• It's been on market 309 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Location reads 48/100 on livability (#151 in HI) — a working-class tenant base; expect higher turnover. Watch: housing C-, health & safety C-, schools D.
• 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: 247 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 11y ago; this cycle's ask has dropped $75k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $87k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.9% vs local median 4.2% in Hawaiian Ocean View — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 309 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.