Two-Level Duplex with Flexible
For Sale
$550,000
2133 Kinoole St, Hilo, HI 96720
A 6-bedroom home offers separate living areas, private entrances, and an interior connection between floors.
Property Size2,060 SF
Price / SF$266.99
Days on Market51
Property Features for 2133 Kinoole St
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Multi-Family
Amenities
picnic table
custom lava rock BBQ
waterfall/pond feature
dog kennels
Building Details
Year Built
1960
Listing Agency:
Lei Po'o Real Estate LLC
(808) 209-0033
Listed By:
Oasis Hawai'i
(808) 209-0033
Source:
Myoasishawaii
Added: Jul 13
Changed: Aug 31
Last Checked: Aug 31 at 3:00PM
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 Lei Po'o Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,060-square-foot duplex, built in 1960, is arranged for use as one connected residence or two distinct living areas. Each level has a private exterior entrance, while an interior connection links the floors. The upper level has been updated and includes a full kitchen with stainless appliances and a gas stove. The lower level provides a main living area, three bedrooms, one bathroom, and a kitchenette equipped with a refrigerator, freezer, microwave, toaster oven, and portable cooktop.
The fully fenced lot includes ample parking, a grassy yard, picnic table, lava rock BBQ, and a waterfall-and-pond feature. Multiple dog kennels sit beside the home and may also serve as individually locked storage areas. The property is at 2133 Kinoole St in Hilo, near Kawailani and minutes from UH Hilo, public schools, shopping, and dining.
The fully fenced lot includes ample parking, a grassy yard, picnic table, lava rock BBQ, and a waterfall-and-pond feature. Multiple dog kennels sit beside the home and may also serve as individually locked storage areas. The property is at 2133 Kinoole St in Hilo, near Kawailani and minutes from UH Hilo, public schools, shopping, and dining.
Key Highlights
- 6 bedrooms and 2 bathrooms within a 2,060‑square‑foot duplex
- Two living areas connected internally, with private exterior entrances for each floor
- Updated upper level with full kitchen, stainless appliances, and gas stove
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 - A 6-bedroom home offers separate living areas, private entrances, and an interior connection between floors.
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: 6 bedrooms and 2 bathrooms within a 2,060‑square‑foot duplex; Two living areas connected internally, with private exterior entrances for each floor; Updated upper level with full kitchen, stainless appliances, and gas stove
