92-8426 Plumeria Ln · Hawaiian Ocean View, HI 96737

$175,750

3 bd · 2.5 ba · 1,492 sqft · Other public records · 188 Days on market

Built 2006 1.00 ac lot $118/sqft · 49% below area Est $344k · 49% under

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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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.9/10.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

Hawaiian Ocean View Estates - invest some time and money into this great opportunity! Here's a 3 bedroom/2-1/4 bath home with a laundry room and carport on a graded one-acre lot. This is a bank-owned REO property, so it must be a cash deal. Priced for a very quick sale with the knowledge that there will be clean up and repair work to be done by the buyer. Listing price is far below the tax assessed value! Highlights include: a gated one acre lot with fantastic views from South Point around to Milolii A single-level home with some tiled floors Large combination dining room/kitchen Separate laundry room with doors out to the backyard and the carport All bedrooms and full baths are in a separate wing from the main living area Good location just over halfway up into HOVE with easy access to Aloha Blvd Flat, graded backyard space which would be great for a lanai Partial list of repairs needed: some windows are broken and need replacement Plumbing may need work to fully functioning Flooring in bedroom wing was removed and will need replacement Appliances most likely need to be removed and replaced Electrical system may also need some work Drywalls holes will need to be patched Hawaiian Ocean View Estates has several shopping areas containing restaurants, gas stations, markets, a post office, hardware store and many other basic services. Drive just over an hour north to Kailua-Kona where you'll find most major services and an international airport.

Key facts

• Gated one acre lot
• Single-level home
• 1 acre lot

Tags

• GATED ONE ACRE LOT
• SINGLE-LEVEL HOME
• SEPARATE LAUNDRY ROOM
• FLAT GRADED BACKYARD SPACE
• HAWAIIAN OCEAN VIEW ESTATES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $176k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Recommended offer: $155k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 1 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 $6k of equity ($1k loan paydown + $5k 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 $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $13k; list at $176k implies a 1275% gain — meaningful room to come down on a strong offer.

Recommended offer $154,660 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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: 1.19% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.67%
• DSCR: 1.39
• GRM: 7.0

CMA / ARV

• ARV (median comp): $343,947
• List price: $175,750
• Delta: -48.90%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.6%
• Equity multiple: 1.89×
• Total profit: $43,895
• Equity at exit: $79,025

10-year hold

• IRR: 17.3%
• Equity multiple: 3.53×
• Total profit: $124,682
• Equity at exit: $121,787

Cash invested: $49,210 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$922
• Tax from tax record: −$309 /mo · $3,704/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $355

Break-even live

Break-even rent $1,650

Max offer price $175,750

Occupancy floor 78%

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: $43,938
• Closing costs: $5,272
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92-2136 Coral Pkwy Captain Cook, HI	2.0	2.5	1296	$2,100	$1.62	43d	1	0.87mi

Listing history 21 events

1. 2026-06-18
   days on market $175,750 Active 188 DOM
2. 2026-06-17
   price $175,750 Active 187 DOM
3. 2026-06-17
   pricedays on market $175,000 Active 187 DOM
4. 2026-06-15
   days on market $185,000 Active 185 DOM
5. 2026-06-13
   days on market $185,000 Active 183 DOM
6. 2026-06-13
   days on market $185,000 Active 182 DOM
7. 2026-06-10
   days on market $185,000 Active 180 DOM
8. 2026-06-09
   days on market $185,000 Active 179 DOM
9. 2026-06-08
   days on market $185,000 Active 178 DOM
10. 2026-06-07
    days on market $185,000 Active 177 DOM
11. 2026-06-05
    days on market $185,000 Active 174 DOM
12. 2026-06-03
    days on market $185,000 Active 173 DOM
13. 2026-06-02
    days on market $185,000 Active 172 DOM
14. 2026-06-01
    days on market $185,000 Active 171 DOM
15. 2026-05-31
    days on market $185,000 Active 170 DOM
16. 2026-03-30
    price $185,000 1468-char remark

    Show marketing remark (1468 chars)

    Hawaiian Ocean View Estates - invest some time and money into this great opportunity! Here's a 3 bedroom/2-1/4 bath home with a laundry room and carport on a graded one-acre lot. This is a bank-owned REO property, so it must be a cash deal. Priced for a very quick sale with the knowledge that there will be clean up and repair work to be done by the buyer. Listing price is far below the tax assessed value! Highlights include: a gated one acre lot with fantastic views from South Point around to Milolii A single-level home with some tiled floors Large combination dining room/kitchen Separate laundry room with doors out to the backyard and the carport All bedrooms and full baths are in a separate wing from the main living area Good location just over halfway up into HOVE with easy access to Aloha Blvd Flat, graded backyard space which would be great for a lanai Partial list of repairs needed: some windows are broken and need replacement Plumbing may need work to fully functioning Flooring in bedroom wing was removed and will need replacement Appliances most likely need to be removed and replaced Electrical system may also need some work Drywalls holes will need to be patched Hawaiian Ocean View Estates has several shopping areas containing restaurants, gas stations, markets, a post office, hardware store and many other basic services. Drive just over an hour north to Kailua-Kona where you'll find most major services and an international airport.

17. 2026-02-18
    price $199,000 1468-char remark

    Show marketing remark (1468 chars)

    Hawaiian Ocean View Estates - invest some time and money into this great opportunity! Here's a 3 bedroom/2-1/4 bath home with a laundry room and carport on a graded one-acre lot. This is a bank-owned REO property, so it must be a cash deal. Priced for a very quick sale with the knowledge that there will be clean up and repair work to be done by the buyer. Listing price is far below the tax assessed value! Highlights include: a gated one acre lot with fantastic views from South Point around to Milolii A single-level home with some tiled floors Large combination dining room/kitchen Separate laundry room with doors out to the backyard and the carport All bedrooms and full baths are in a separate wing from the main living area Good location just over halfway up into HOVE with easy access to Aloha Blvd Flat, graded backyard space which would be great for a lanai Partial list of repairs needed: some windows are broken and need replacement Plumbing may need work to fully functioning Flooring in bedroom wing was removed and will need replacement Appliances most likely need to be removed and replaced Electrical system may also need some work Drywalls holes will need to be patched Hawaiian Ocean View Estates has several shopping areas containing restaurants, gas stations, markets, a post office, hardware store and many other basic services. Drive just over an hour north to Kailua-Kona where you'll find most major services and an international airport.

18. 2025-12-11
    listed $213,750 Active 1468-char remark

    Show marketing remark (1468 chars)

    Hawaiian Ocean View Estates - invest some time and money into this great opportunity! Here's a 3 bedroom/2-1/4 bath home with a laundry room and carport on a graded one-acre lot. This is a bank-owned REO property, so it must be a cash deal. Priced for a very quick sale with the knowledge that there will be clean up and repair work to be done by the buyer. Listing price is far below the tax assessed value! Highlights include: a gated one acre lot with fantastic views from South Point around to Milolii A single-level home with some tiled floors Large combination dining room/kitchen Separate laundry room with doors out to the backyard and the carport All bedrooms and full baths are in a separate wing from the main living area Good location just over halfway up into HOVE with easy access to Aloha Blvd Flat, graded backyard space which would be great for a lanai Partial list of repairs needed: some windows are broken and need replacement Plumbing may need work to fully functioning Flooring in bedroom wing was removed and will need replacement Appliances most likely need to be removed and replaced Electrical system may also need some work Drywalls holes will need to be patched Hawaiian Ocean View Estates has several shopping areas containing restaurants, gas stations, markets, a post office, hardware store and many other basic services. Drive just over an hour north to Kailua-Kona where you'll find most major services and an international airport.

19. 2009-11-25
    soldstatus $12,780
20. 2005-08-23
    soldstatus $54,000
21. 1979-06-18
    soldstatus $4,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $3,704 · $309/mo
• Projected year-2 tax: $3,704 · $309/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $25,200
• − Mortgage interest: −$9,845
• − Property taxes: −$3,704
• − Insurance: −$879
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$5,113
• Taxable income: $1,627
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $3,874/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.

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

+4525.0% since first listed

6 events — show timeline

• 2026-03-30 Price Changed $185,000 HI Information Service
• 2026-02-18 Price Changed $199,000 HI Information Service
• 2025-12-11 Listed $213,750 HI Information Service
• 2009-11-25 Sold (Public Records) $12,780 Public Records
• 2005-08-23 Sold (Public Records) $54,000 Public Records
• 1979-06-18 Sold (Public Records) $4,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,704 · +7.1% YoY. Source: county tax records.