Duplex with Private Exterior
For Sale
$550,000
2133 KINOOLE ST, Hilo, HI 96720
MULTI_FAMILY - Hilo, HI
Property Size2,060 SF
Lot Size0.24 Acres
Price / SF$266.99
Days on Market46
Property Features for 2133 KINOOLE ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-10
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5
Parking features
Covered
Fencing
Chain Link
Appliances
Dishwasher, Dryer, Gas Cooktop, Microwave, Range, Refrigerator, Washer
Subdivision
WAIAKEA HOMESTEAD HOUSELOTS
Lot features
Cleared, Corner Lot, Grassy
Standard status
Active
APN
3220410590000
Size
2,060 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5452
Utilities
Utilities
Phone Available
Sewer type
Cesspool
Building Details
Year built
1960
Floors in Building
2
Listing Agency:
Salt Water Real Estate LLC
(808) 491-2294
Listed By:
Mary E. Blyth
(808) 443-7877
Added: Jul 11
Changed: Aug 3
Last Checked: Aug 25 at 2:06AM
MLS# 731812
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 is set up for flexible living, with interior connection between levels plus private exterior entrances for each floor. The home provides six bedrooms and two bathrooms total, with an upstairs updated to include a full kitchen and stainless steel appliances, including a gas stove. The downstairs offers a large main living area, three bedrooms, one large bathroom, and a kitchenette with a refrigerator, freezer, microwave, toaster oven, and portable cook top.
Outside, the property includes a fully fenced large lot with ample covered parking. Additional outdoor features include a custom lava rock BBQ with a waterfall/pond feature and a solid outdoor picnic table. Multiple, well-constructed dog kennels are located on the side of the home and can serve as individual locked storage if preferred.
Zoned RS-10, the property sits on a 0.2375-acre lot and was built in 1960. Utilities include phone availability, and sewer service is provided via a cesspool.
Outside, the property includes a fully fenced large lot with ample covered parking. Additional outdoor features include a custom lava rock BBQ with a waterfall/pond feature and a solid outdoor picnic table. Multiple, well-constructed dog kennels are located on the side of the home and can serve as individual locked storage if preferred.
Zoned RS-10, the property sits on a 0.2375-acre lot and was built in 1960. Utilities include phone availability, and sewer service is provided via a cesspool.
Key Highlights
- Flexible duplex layout with interior connection plus private exterior entrances for each level
- 6 bedrooms and 2 bathrooms total across two living spaces
- RS‑10 zoning on a 0.2375‑acre lot
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
$30,892
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
5.62%
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%
$617,840
$617.8K
Cap Rate 7%
$441,314
$441.3K
Cap Rate 9%
$343,244
$343.2K
Market Conditions
NOI Build-Up for 2,060 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
$45.7K $22.20/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$44.1K $21.42/SF
− OpEx
−$13.2K −$6.43/SF
NOI
$30.9K $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%
$617,840
Cap Rate 7%
$441,314
Cap Rate 9%
$343,244
Alternative Uses
Best Use
Multifamily LT 5
$441.3K
$386.2K – $514.9K
NOI $30,892 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 5.14%
Theoretical Best
Specialty Retail
$703.0K
$615.2K – $820.2K
NOI $49,213 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex configured for two separate living spaces with private exterior entrances, 6 bedrooms, and RS-10 zoning.
Where is this duplex located?
The property is located at 2133 KINOOLE ST Hilo, HI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Flexible duplex layout with interior connection plus private exterior entrances for each level; 6 bedrooms and 2 bathrooms total across two living spaces; RS‑10 zoning on a 0.2375‑acre lot
