92-1478 Donola Dr · Hawaiian Ocean View, HI 96737

$199,999

1 bd · 1.5 ba · 640 sqft · SingleFamily · 220 Days on market

Built 1999 Fair condition 1.00 ac lot $312/sqft · 58% above area ↓ 28% since listing

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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).

• Cash flow +15.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Hale Anuenue "House of Rainbows" Charming road appeal with vast views of the South Point Ocean coastline. Feel the openness! This convenient prime location is only 2 blocks from the highway. One of the best features is the Polynesian-style roofed bungalow with a skylight to accent the high cathedral ceiling and a large fan to circulate air flow. The natural uplifting lighting provides ambiance for the living room. The entire property is cleared, leveled, and well planned out. The front has a leveled raised house pad with a driveway. and a terraced rock wall. The 16,000-gallon water catchment is at the front corner. Easy to fill tank. Waterline to the back of the lot for watering plants. The items included: Nine 300 kWh Solar panels One 5 kWh Lithium Battery One 10 kWh inverter Gas water heater Water filtering system Refrig, Range/Stove, Washing machine, Dryer, Gas barbecue Furnished, move-in ready Fold-out couch, chair, TV, coffee table, movable serving bar kitchenware new queen-size bed, bedding, towels Polished Ohia Posts Bamboo and rattan paneling The bedroom has a sliding glass door to the Lanai. It's the perfect spot to watch the colorful pau hana sunsets every night and catch the sunrise that starts the day in appreciation for the House of the Rainbows. Such a peaceful home for a loving couple. Ohana, or vacation rental. Surrounding half of the house is a well-built wire-fenced yard for your dog to stay contained and have room to roam. The yard is landscaped and easy to maintain. Triangular Palms and colorful succulents on the driveway. There is so much potential with the space that is cleared and leveled. Plant fruit trees, pasture animals, or build a greenhouse. With the perfect weather all year long, the sky's the limit. The evenings are fun for stargazing. On clear nights, the sky is magical! So what are you waiting for? Check out this tropical jewel and enjoy the View!

Key facts

• Terraced rock wall
• Skylight
• 1 acre lot

Tags

• SKYLIGHT
• HIGH CATHEDRAL CEILING
• NATURAL UPLIFTING LIGHTING
• CLEARED LEVELED PROPERTY
• LEVELED RAISED HOUSE PAD
• TERRACED ROCK WALL

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $186k (7.2% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.

Location & tenants

• 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).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 $56k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
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: 0.93% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $126,611
• List price: $199,999
• Delta: 57.96%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.2%
• Equity multiple: 1.53×
• Total profit: $29,522
• Equity at exit: $89,928

10-year hold

• IRR: 11.7%
• Equity multiple: 2.74×
• Total profit: $97,597
• Equity at exit: $138,590

Cash invested: $56,000 (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 96737

• Active inventory: 247
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,857 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $85

Break-even live

Break-even rent $1,750

Max offer price $199,999

Occupancy floor 90%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $199,999 Active 220 DOM
2. 2026-06-17
   days on market $199,999 Active 219 DOM
3. 2026-06-15
   days on market $199,999 Active 217 DOM
4. 2026-06-13
   days on market $199,999 Active 215 DOM
5. 2026-06-13
   days on market $199,999 Active 214 DOM
6. 2026-06-10
   days on market $199,999 Active 212 DOM
7. 2026-06-09
   days on market $199,999 Active 211 DOM
8. 2026-06-08
   days on market $199,999 Active 210 DOM
9. 2026-06-07
   days on market $199,999 Active 209 DOM
10. 2026-06-05
    days on market $199,999 Active 206 DOM
11. 2026-06-03
    days on market $199,999 Active 205 DOM
12. 2026-06-02
    days on market $199,999 Active 204 DOM
13. 2026-06-01
    days on market $199,999 Active 203 DOM
14. 2026-05-31
    days on market $199,999 Active 202 DOM
15. 2026-04-30
    price $199,999 1926-char remark

    Show marketing remark (1926 chars)

    Hale Anuenue "House of Rainbows" Charming road appeal with vast views of the South Point Ocean coastline. Feel the openness! This convenient prime location is only 2 blocks from the highway. One of the best features is the Polynesian-style roofed bungalow with a skylight to accent the high cathedral ceiling and a large fan to circulate air flow. The natural uplifting lighting provides ambiance for the living room. The entire property is cleared, leveled, and well planned out. The front has a leveled raised house pad with a driveway. and a terraced rock wall. The 16,000-gallon water catchment is at the front corner. Easy to fill tank. Waterline to the back of the lot for watering plants. The items included: Nine 300 kWh Solar panels One 5 kWh Lithium Battery One 10 kWh inverter Gas water heater Water filtering system Refrig, Range/Stove, Washing machine, Dryer, Gas barbecue Furnished, move-in ready Fold-out couch, chair, TV, coffee table, movable serving bar kitchenware new queen-size bed, bedding, towels Polished Ohia Posts Bamboo and rattan paneling The bedroom has a sliding glass door to the Lanai. It's the perfect spot to watch the colorful pau hana sunsets every night and catch the sunrise that starts the day in appreciation for the House of the Rainbows. Such a peaceful home for a loving couple. Ohana, or vacation rental. Surrounding half of the house is a well-built wire-fenced yard for your dog to stay contained and have room to roam. The yard is landscaped and easy to maintain. Triangular Palms and colorful succulents on the driveway. There is so much potential with the space that is cleared and leveled. Plant fruit trees, pasture animals, or build a greenhouse. With the perfect weather all year long, the sky's the limit. The evenings are fun for stargazing. On clear nights, the sky is magical! So what are you waiting for? Check out this tropical jewel and enjoy the View!

16. 2026-03-25
    price $230,000 1926-char remark

    Show marketing remark (1926 chars)

    Hale Anuenue "House of Rainbows" Charming road appeal with vast views of the South Point Ocean coastline. Feel the openness! This convenient prime location is only 2 blocks from the highway. One of the best features is the Polynesian-style roofed bungalow with a skylight to accent the high cathedral ceiling and a large fan to circulate air flow. The natural uplifting lighting provides ambiance for the living room. The entire property is cleared, leveled, and well planned out. The front has a leveled raised house pad with a driveway. and a terraced rock wall. The 16,000-gallon water catchment is at the front corner. Easy to fill tank. Waterline to the back of the lot for watering plants. The items included: Nine 300 kWh Solar panels One 5 kWh Lithium Battery One 10 kWh inverter Gas water heater Water filtering system Refrig, Range/Stove, Washing machine, Dryer, Gas barbecue Furnished, move-in ready Fold-out couch, chair, TV, coffee table, movable serving bar kitchenware new queen-size bed, bedding, towels Polished Ohia Posts Bamboo and rattan paneling The bedroom has a sliding glass door to the Lanai. It's the perfect spot to watch the colorful pau hana sunsets every night and catch the sunrise that starts the day in appreciation for the House of the Rainbows. Such a peaceful home for a loving couple. Ohana, or vacation rental. Surrounding half of the house is a well-built wire-fenced yard for your dog to stay contained and have room to roam. The yard is landscaped and easy to maintain. Triangular Palms and colorful succulents on the driveway. There is so much potential with the space that is cleared and leveled. Plant fruit trees, pasture animals, or build a greenhouse. With the perfect weather all year long, the sky's the limit. The evenings are fun for stargazing. On clear nights, the sky is magical! So what are you waiting for? Check out this tropical jewel and enjoy the View!

17. 2026-02-24
    price $249,000 1926-char remark

    Show marketing remark (1926 chars)

    Hale Anuenue "House of Rainbows" Charming road appeal with vast views of the South Point Ocean coastline. Feel the openness! This convenient prime location is only 2 blocks from the highway. One of the best features is the Polynesian-style roofed bungalow with a skylight to accent the high cathedral ceiling and a large fan to circulate air flow. The natural uplifting lighting provides ambiance for the living room. The entire property is cleared, leveled, and well planned out. The front has a leveled raised house pad with a driveway. and a terraced rock wall. The 16,000-gallon water catchment is at the front corner. Easy to fill tank. Waterline to the back of the lot for watering plants. The items included: Nine 300 kWh Solar panels One 5 kWh Lithium Battery One 10 kWh inverter Gas water heater Water filtering system Refrig, Range/Stove, Washing machine, Dryer, Gas barbecue Furnished, move-in ready Fold-out couch, chair, TV, coffee table, movable serving bar kitchenware new queen-size bed, bedding, towels Polished Ohia Posts Bamboo and rattan paneling The bedroom has a sliding glass door to the Lanai. It's the perfect spot to watch the colorful pau hana sunsets every night and catch the sunrise that starts the day in appreciation for the House of the Rainbows. Such a peaceful home for a loving couple. Ohana, or vacation rental. Surrounding half of the house is a well-built wire-fenced yard for your dog to stay contained and have room to roam. The yard is landscaped and easy to maintain. Triangular Palms and colorful succulents on the driveway. There is so much potential with the space that is cleared and leveled. Plant fruit trees, pasture animals, or build a greenhouse. With the perfect weather all year long, the sky's the limit. The evenings are fun for stargazing. On clear nights, the sky is magical! So what are you waiting for? Check out this tropical jewel and enjoy the View!

18. 2025-11-05
    listed $278,000 Active 1926-char remark

    Show marketing remark (1926 chars)

    Hale Anuenue "House of Rainbows" Charming road appeal with vast views of the South Point Ocean coastline. Feel the openness! This convenient prime location is only 2 blocks from the highway. One of the best features is the Polynesian-style roofed bungalow with a skylight to accent the high cathedral ceiling and a large fan to circulate air flow. The natural uplifting lighting provides ambiance for the living room. The entire property is cleared, leveled, and well planned out. The front has a leveled raised house pad with a driveway. and a terraced rock wall. The 16,000-gallon water catchment is at the front corner. Easy to fill tank. Waterline to the back of the lot for watering plants. The items included: Nine 300 kWh Solar panels One 5 kWh Lithium Battery One 10 kWh inverter Gas water heater Water filtering system Refrig, Range/Stove, Washing machine, Dryer, Gas barbecue Furnished, move-in ready Fold-out couch, chair, TV, coffee table, movable serving bar kitchenware new queen-size bed, bedding, towels Polished Ohia Posts Bamboo and rattan paneling The bedroom has a sliding glass door to the Lanai. It's the perfect spot to watch the colorful pau hana sunsets every night and catch the sunrise that starts the day in appreciation for the House of the Rainbows. Such a peaceful home for a loving couple. Ohana, or vacation rental. Surrounding half of the house is a well-built wire-fenced yard for your dog to stay contained and have room to roam. The yard is landscaped and easy to maintain. Triangular Palms and colorful succulents on the driveway. There is so much potential with the space that is cleared and leveled. Plant fruit trees, pasture animals, or build a greenhouse. With the perfect weather all year long, the sky's the limit. The evenings are fun for stargazing. On clear nights, the sky is magical! So what are you waiting for? Check out this tropical jewel and enjoy the View!

ⓘ 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: $22,283
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,818
• Taxable loss: −$2,304
• Est. tax savings @ 24.0%: +$553
• After-tax cash flow: $1,571/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

Fair 45/100 Moderate rehab

The property is in fair condition with moderate repairs needed. Updating the kitchen and bathroom, repairing the roof, and improving the landscaping would significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate roof — visible wear and tear
• Minor terrace and rock wall — slight wear and needs minor maintenance

Value-add opportunities

• Resale update kitchen cabinets and fixtures — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers
• Both repair and replace roof — improving the roof will increase the home's value and reduce maintenance costs
• Both update landscaping — improving the landscaping will increase curb appeal and attract more renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
roof · visible wear and tear	Moderate	$3,000–15,000
terrace and rock wall · slight wear and needs minor maintenance	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Resale update kitchen cabinets and fixtures — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers ↑
• Both repair and replace roof — improving the roof will increase the home's value and reduce maintenance costs ↑
• Both update landscaping — improving the landscaping will increase curb appeal and attract more 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 — Hawaiian Ocean View

• Score: 48/100
• State rank: #151
• US rank: #26127

Category grades

Amenities F Commute F Cost of living B- Crime C+ Employment F Housing C- Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawaiian Ocean View, HI
• City population: 3,781
• Population (ZIP): 3,781

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 0.81)
• Race & ethnicity: Two or more races 42% White 39% Hispanic / Latino 16% Asian 6% Pacific Islander 6% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 10%
• Common ancestry: Portuguese 5% Scotch-Irish 4% Hispanic 4%
• Foreign-born: 6% · Canada
• Languages at home: 75% English-only · Other Asian/Pacific 10% Spanish 3% Russian/Polish/Slavic 2%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-28.1% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $199,999 HI Information Service
• 2026-03-25 Price Changed $230,000 HI Information Service
• 2026-02-24 Price Changed $249,000 HI Information Service
• 2025-11-05 Listed $278,000 HI Information Service