11-3290 Mokuna St

Royal Hawaiian Estates, HI 96785

$369,000D-

3 bd · 2.0 ba · 1,336 sqft · Built 2025 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,284/mo
• Mortgage (P&I): −$1,935
• Tax + insurance: −$615
• HOA: −$0
• Vac / Maint / Mgmt: −$480
• Net cashflow: $-746/mo
• Annual: $-8,951/yr
• Cap rate: 3.87%
• Cash-on-cash: -8.66%
• DSCR: 0.61
• 1% rule: 0.62%
• Cash to close: $103,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $369k.
• At list price, monthly cash flow is $-746 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (29.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (38.1% below list).
• It's been on market 62 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $228k (38.1% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($3k loan paydown + $2k appreciation (0.7% local appreciation)).
• Location reads: area grade D — 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: 160 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.
• 2 sale attempts; this cycle's ask has dropped $56k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 38% 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.
• 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?
• 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.