Building Details

Year Built 2015

Buildings 2

Listing Agency: eXp Realty

Listed By: Lucy Liu Shen · License #RS-77203 Show Phone

Source: Paradisebrokers

Added: Sep 2 Changed: Sep 3 Last Checked: Sep 3 at 2:21AM

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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 eXp Realty

Investment Insights

Based on property information with market context.

This duplex property includes a 2-story, 3,811-square-foot main residence completed in 2015 and a 1-story, 1,893-square-foot Ohana unit. Combined living space totals 5,704 square feet on an 11,250-square-foot lot, with 11 bedrooms, 8 full bathrooms, 6 private entrances, 2 kitchens, and 2 wet bars. The interiors include large living rooms and bedrooms, an 11-foot ceiling in the main living room, and 9-foot ceilings elsewhere.

Property improvements include a lanai, gated entry with an automatic metal gate, natural stone details, a metal roof, solid wood cabinetry, double-door entries, hardwood flooring, granite and quartz countertops, and a quartz staircase. The property is near Waimanalo white sand beach and has unobstructed Ko'olau mountain views.

Key Highlights

• 5,704 SF of total living space on an 11,250 SF lot
• 2‑story, 3,811 SF main residence built in 2015
• 1‑story, 1,893 SF Ohana unit

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

$113,590

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

4.07%

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%

$2,271,800 $2.3M

Cap Rate 7%

$1,622,714 $1.6M

Cap Rate 9%

$1,262,111 $1.3M

Market Conditions

NOI Build-Up for 5,704 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

$174.5K $30.60/SF

− Vacancy

−$12.3K −$2.15/SF

EGI

$162.3K $28.45/SF

− OpEx

−$48.7K −$8.53/SF

NOI

$113.6K $19.91/SF

Area

Honolulu County, HI

Vacancy

7.03%

Lease Rate

$30.60 /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%

$2,271,800

Cap Rate 7%

$1,622,714

Cap Rate 9%

$1,262,111

Alternative Uses

Best Use

Multifamily LT 5

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,590 @ 7.0% cap · market cap 4.07%

Second Best

Apartment 5plus

$1.49M

$1.31M – $1.74M (±1% cap)

NOI $104,582 @ 7.0% cap · market cap 3.75%

Theoretical Best

Specialty Retail

$2.31M

$2.02M – $2.70M (±1% cap)

NOI $161,766 @ 7.0% cap · market cap 5.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Location Intelligence

Demographics for 96795, HI

11,064

Population

2,662

Households

4.2

Avg Household Size

39

Median Age

22%

College-Educated

92%

High-School Grad

11.5 sq mi

ZIP Area

962

Density / Sq Mi

$118,365

Median Household Income

$44,581

Median Earnings

$1,710

Median Rent

$746,700

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

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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?

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Frequently Asked Questions

What type of property is this?

Duplex - Gated residential income property with private entrances, two kitchens, wet bars, and expansive interior living areas.

Where is this duplex located?

The property is located at 41-51 Hinalea St Waimanalo, HI.

What is the asking price?

The asking price for this property is $2,790,000.

What are key features of this property?

This property features: 5,704 SF of total living space on an 11,250 SF lot; 2‑story, 3,811 SF main residence built in 2015; 1‑story, 1,893 SF Ohana unit