Two-Home Short-Term Rental
New
For Sale
$1,195,000
441 Mohouli St, Hilo, HI 96720
Two furnished residences and a separate basement studio combine guest accommodations with an existing longer-term tenancy.
Property Size3,298 SF
Lot Size0.41 Acres
Price / SF$362.34
Days on Market2
Property Features for 441 Mohouli St
General Information
Standard status
Active
Size
3,298 SF
Lot size
0.41 Acres
Property subtype
Multi-Family
Zoning
RS-10
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Furnished
Yes
Building Details
Year Built
1950
Buildings
2
Listing Agency:
Hilo Bay Realty LLC
(808) 938-7894
Listed By:
Oasis Hawai'i
(808) 209-0033
Source:
Myoasishawaii
Added: Oct 24
Last Checked: Oct 24 at 2:31PM
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 Hilo Bay Realty LLC
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Investment Insights
Based on property information with market context.
This Hilo property brings together two furnished residences and an independent basement studio on one fenced parcel. The front home, built in 1950 and updated in 2022, has living areas with views of Hilo Bay. Its basement studio has a private entrance and kitchenette. The rear residence, built in 1980 and renovated in 2021, includes four bedrooms, three bathrooms, an office, storage, and a home theater room. Both homes operate as short-term rentals, while the studio has a longer-term tenant. The listing identifies the operation as hosted under current Hawaii County code, with an on-site long-term co-host.
The 3,298-square-foot property occupies an 18,024-square-foot RS-10 parcel at 441 Mohouli St in Hilo. Downtown, the farmers market, bayfront parks, restaurants, shopping, and the airport are described as minutes away.
The 3,298-square-foot property occupies an 18,024-square-foot RS-10 parcel at 441 Mohouli St in Hilo. Downtown, the farmers market, bayfront parks, restaurants, shopping, and the airport are described as minutes away.
Key Highlights
- Two residences and a separate basement studio on one parcel
- 3,298‑square‑foot property on an 18,024‑square‑foot lot
- RS‑10 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,301
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,020
$906.0K
Cap Rate 7%
$647,157
$647.2K
Cap Rate 9%
$503,344
$503.3K
Market Conditions
NOI Build-Up for 3,298 SF
Gross rent
$85.1K $25.80/SF
− Vacancy
−$2.7K −$0.83/SF
EGI
$82.4K $24.97/SF
− OpEx
−$37.1K −$11.24/SF
NOI
$45.3K $13.74/SF
Area
Hawaii County, HI
Vacancy
3.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,020
Cap Rate 7%
$647,157
Cap Rate 9%
$503,344
Alternative Uses
Best Use
Apartment 5plus
$647.2K
$566.3K – $755.0K
NOI $45,301 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$984.9K – $1.31M
NOI $78,788 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two furnished residences and a separate basement studio combine guest accommodations with an existing longer-term tenancy.
Where is this short term rental property located?
The property is located at 441 Mohouli St Hilo, HI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two residences and a separate basement studio on one parcel; 3,298‑square‑foot property on an 18,024‑square‑foot lot; RS‑10 zoning
