92-9024 Paradise Pkwy · Hawaiian Ocean View, HI 96737

$225,000

3 bd · 2.0 ba · 1,600 sqft · SingleFamily · 176 Days on market

Built 2025 Good condition 1.00 ac lot $141/sqft · 12% below area Est $257k · 12% under ↓ 16% since listing

---

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 +26.5/30.0
• ARV discount +13.1/15.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

Key facts

• Catchment system
• Above ground pool
• Walk in pantry

Tags

• ABOVE GROUND POOL
• PRIVATE LANAI
• CIRCULAR DRIVEWAY
• CATCHMENT SYSTEM
• OWNED SOLAR SYSTEM
• WALK IN PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.3% 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-, amenities F.
• 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.
• Zoned schools: Naalehu Elementary School (math 8% / reading 22%, grade F, #171 of 183 statewide, top 94%, 422 students, 70% FRL) — zoned schools average 70% FRL vs 39% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 41% district-wide (-26 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
• Market conditions: 248 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $7k 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 $63k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.37%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $256,782
• List price: $225,000
• Delta: -12.38%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92-8778 Lehua Ln	0.63mi	3/2.0	1,508 (-6%)	2mo	$255,000	$169	60
92-9064 Lotus Blossom Ln	0.71mi	4/1.0 (+1)	1,596 (-0%)	13mo	$145,000	$91	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 18.2%
• Equity multiple: 2.03×
• Total profit: $65,170
• Equity at exit: $101,170

10-year hold

• IRR: 19.5%
• Equity multiple: 3.84×
• Total profit: $178,801
• Equity at exit: $155,915

Cash invested: $63,000 (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: 248
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,724 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $597

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 73%

Sensitivity live

Price	-10% $753	-5% $675	+0% $597	+5% $519	+10% $442
Rent	-10% $382	-5% $489	+0% $597	+5% $705	+10% $812
Rate	-1.0pp $710	-0.5pp $654	base $597	+0.5pp $539	+1.0pp $479

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92-1766 Hukilau Dr Ocean View, HI	2.0	2.0	1200	$3,200	$2.67	45d	1	0.90mi
92-2224 Kailua Blvd Ocean View, HI	4.0	1.0	1100	$2,200	$2.00	45d	1	0.91mi

Listing history 14 events

1. 2026-06-10
   days on market $225,000 Active 176 DOM
2. 2026-06-09
   days on market $225,000 Active 175 DOM
3. 2026-06-08
   statusdays on market $225,000 Active 174 DOM
4. 2026-06-07
   days on market $225,000 Active Under Contract 173 DOM
5. 2026-06-05
   days on market $225,000 Active Under Contract 170 DOM
6. 2026-06-03
   days on market $225,000 Active Under Contract 169 DOM
7. 2026-06-02
   days on market $225,000 Active Under Contract 168 DOM
8. 2026-06-01
   days on market $225,000 Active Under Contract 167 DOM
9. 2026-05-31
   statusdays on market $225,000 Active Under Contract 166 DOM
10. 2026-04-22
    price $225,000 1660-char remark

    Show marketing remark (1660 chars)

    PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

11. 2026-02-23
    price $249,000 1660-char remark

    Show marketing remark (1660 chars)

    PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

12. 2026-01-31
    price $260,000 1660-char remark

    Show marketing remark (1660 chars)

    PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

13. 2025-12-17
    price $275,000 1660-char remark

    Show marketing remark (1660 chars)

    PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

14. 2025-12-16
    listed $269,000 Active 1660-char remark

    Show marketing remark (1660 chars)

    PRICE REDUCED! Experience island living in this new construction 3/2 home located on a wide corner lot in the desirable mid-to-lower section of Hawaiian Ocean View Estates. Set on a full acre, this property offers expansive ocean and South Point views and a thoughtfully designed layout that embraces indoor-outdoor living. The main level features a spacious open floor plan with living, kitchen, and dining areas flowing seamlessly to a lanai and above-ground pool overlooking the ocean. One bedroom and bathroom are conveniently located downstairs. Upstairs, offers stunning ocean views from its own private lanai, a primary suite with a large ensuite bathroom, a generous walk-through closet, and an additional third room with utility and storage space. The land has been bulldozed and includes a circular driveway plus an additional house pad situated on a bluff above the home—perfect for future possibilities. Off-grid amenities include a new 10,000-gallon catchment system, an owned solar system with 11 solar panels, an 8kW 240-volt Sol-Ark inverter, and a 16kW lithium battery. A 3,000-watt Honda EU generator is also included. Additional features include two refrigerators, one freezer, two on-demand hot water heaters (one dedicated to the primary bath), and a full-size stackable washer and gas dryer, a walk in pantry in kitchen and a 6’ jetted tub in primary en-suite. Some interior finishing touches remain, with the home needing to be completed —offering an excellent opportunity to add your personal style. All improvements are unpermitted. Cash sale only. Seller may consider seller financing with a sufficient down payment.

ⓘ 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: $32,688
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,615
• − Management: −$2,615
• − Depreciation: −$6,545
• Taxable income: $3,809
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $6,250/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 modern, well-maintained home with a spacious deck and ocean views is in good condition and ready for a new owner. It offers a good return on investment with minimal updates needed.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental.
• Both Painting — Fresh paint can make the home look more inviting and increase its value.
• Both Landscaping — Landscaping can enhance curb appeal and add value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting — Fresh paint can make the home look more inviting and increase its value. ↑
• Both Landscaping — Landscaping can enhance curb appeal and add value for both resale and rental. ↑

ⓘ 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

-16.4% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $225,000 HI Information Service
• 2026-02-23 Price Changed $249,000 HI Information Service
• 2026-01-31 Price Changed $260,000 HI Information Service
• 2025-12-17 Price Changed $275,000 HI Information Service
• 2025-12-16 Listed $269,000 HI Information Service