Building Details

Building Size 3,117 SF

Year Built 1992

Listing Agency: Coldwell Banker Island Properties - Hilo r***@gmail.com Show Phone

Listed By: Cameron Leopoldino · License #RS-87153 Show Phone

Source: Kw

Added: Oct 11, 2025 Changed: Aug 31 Last Checked: Aug 31 at 12:25AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Island Properties - Hilo

Investment Insights

Based on property information with market context.

This duplex property includes two single-family homes situated on one parcel in Kurtistown. The land has been cleared and fully fenced, while recent rehabilitation work included roof painting and pressure washing. The property’s water systems have also received attention, with catchment tanks cleaned and new water pumps and filtration systems installed. Electricity is available, and the improvements date to 1992.

Located at 16-155 Aulii St in Orchidland Estates, the property combines two residences with shared parcel ownership. The existing configuration and recent updates provide a straightforward residential income property offering, without relying on additional development or operational assumptions.

Key Highlights

• Two single‑family homes located on one parcel
• Cleared and fully fenced property in Orchidland Estates
• Roof freshly painted and pressure washed

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

$46,743

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

8.06%

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%

$934,860 $934.9K

Cap Rate 7%

$667,757 $667.8K

Cap Rate 9%

$519,367 $519.4K

Market Conditions

NOI Build-Up for 3,117 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

$69.2K $22.20/SF

− Vacancy

−$2.4K −$0.78/SF

EGI

$66.8K $21.42/SF

− OpEx

−$20.0K −$6.43/SF

NOI

$46.7K $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%

$934,860

Cap Rate 7%

$667,757

Cap Rate 9%

$519,367

Alternative Uses

Best Use

Multifamily LT 5

$667.8K

$584.3K – $779.1K (±1% cap)

NOI $46,743 @ 7.0% cap · market cap 8.06%

Second Best

Apartment 5plus

$611.6K

$535.2K – $713.6K (±1% cap)

NOI $42,815 @ 7.0% cap · market cap 7.38%

Theoretical Best

Specialty Retail

$1.06M

$930.8K – $1.24M (±1% cap)

NOI $74,464 @ 7.0% cap · market cap 12.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Location Intelligence

Demographics for 96760, HI

3,923

Population

1,768

Households

2.2

Avg Household Size

45

Median Age

23%

College-Educated

96%

High-School Grad

20.0 sq mi

ZIP Area

196

Density / Sq Mi

$96,615

Median Household Income

$27,226

Median Earnings

$1,208

Median Rent

$371,500

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Duplex - Two single-family residences occupy a cleared, fully fenced parcel with updated water-system equipment.

Where is this duplex located?

The property is located at 16-155 AULII ST Kurtistown, HI.

What is the asking price?

The asking price for this property is $580,000.

What are key features of this property?

This property features: Two single‑family homes located on one parcel; Cleared and fully fenced property in Orchidland Estates; Roof freshly painted and pressure washed