Duplex with Fruit
For Sale
$519,000
15-1477 25TH AVE, Keaau, HI 96749
Residential Income, Keaau, HI
Property Size2,392 SF
Lot Size1.00 Acre
Price / SF$216.97
Days on Market171
Property Features for 15-1477 25TH AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
A-1A
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Parking features
Assigned, Covered
Subdivision
HAWAIIAN PARADISE PARK
Standard status
Active
APN
3150381750000
Size
2,392 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2797
Utilities
Utilities
Cable Available
Sewer type
Cesspool
Amenities
split A/C
water catchment
ultra violet water treatment
paved driveway
carport
fruit trees
Building Details
Year built
1981
Flooring type
Tile - Ceramic, Carpet
Listing Agency:
Nathalie Mullinix Realty Universal, Inc.
(808) 261-0350
Listed By:
Nathalie C Mullinix · License #RB-17596
(808) 327-4466
Added: Mar 17
Changed: Sep 2
Last Checked: Sep 3 at 7:06AM
MLS# 728611
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 2,392 square feet on a 1-acre parcel. The front residence offers 3 bedrooms and 2 bathrooms and has undergone recent renovation, including newly installed split A/C. The rear residence includes 1 bedroom and 1 bathroom; the listing identifies this addition as unpermitted. Both units include R19 and R13 insulation. Ceramic tile and carpet are among the interior finishes, while covered and assigned parking are provided.
Water service includes an 11,000-gallon catchment system and ultraviolet treatment serving both homes. The property also features a paved driveway, gravel parking or maneuvering areas near and behind the carport, and established soursop, Tahitian lime, avocado, breadfruit, and mango trees. Zoning is A-1A, with cable availability and a cesspool sewer system. The property is located in Keaau, between Kaloli Dr. and Shower Dr., with access toward Hilo.
Water service includes an 11,000-gallon catchment system and ultraviolet treatment serving both homes. The property also features a paved driveway, gravel parking or maneuvering areas near and behind the carport, and established soursop, Tahitian lime, avocado, breadfruit, and mango trees. Zoning is A-1A, with cable availability and a cesspool sewer system. The property is located in Keaau, between Kaloli Dr. and Shower Dr., with access toward Hilo.
Key Highlights
- 2,392 SF duplex on a 1‑acre parcel
- Front unit has 3 bedrooms, 2 bathrooms, and recent renovation
- Rear unit includes 1 bedroom and 1 bathroom; addition identified as unpermitted
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$717,420
$717.4K
Cap Rate 7%
$512,443
$512.4K
Cap Rate 9%
$398,567
$398.6K
Market Conditions
NOI Build-Up for 2,392 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.1K $22.20/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$51.2K $21.42/SF
− OpEx
−$15.4K −$6.43/SF
NOI
$35.9K $15.00/SF
Area
Hawaii County, HI
Vacancy
3.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$717,420
Cap Rate 7%
$512,443
Cap Rate 9%
$398,567
Alternative Uses
Best Use
Multifamily LT 5
$512.4K
$448.4K – $597.9K
NOI $35,871 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$469.4K
$410.7K – $547.6K
NOI $32,856 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$816.3K
$714.3K – $952.4K
NOI $57,144 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Demographics for 96749, HI
20,503
Population
7,545
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
59.8 sq mi
ZIP Area
343
Density / Sq Mi
$74,633
Median Household Income
$41,366
Median Earnings
$1,268
Median Rent
$396,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with split A/C, private water treatment, and a paved driveway on a rural residential parcel.
Where is this duplex located?
The property is located at 15-1477 25TH AVE Keaau, HI.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: 2,392 SF duplex on a 1‑acre parcel; Front unit has 3 bedrooms, 2 bathrooms, and recent renovation; Rear unit includes 1 bedroom and 1 bathroom; addition identified as unpermitted
