Updated Duplex with Two
For Sale
$825,000
557 KUPULAU RD, Hilo, HI 96720
Residential Income, Hilo, HI
Property Size1,656 SF
Lot Size0.30 Acres
Price / SF$498.19
Days on Market144
Property Features for 557 KUPULAU RD
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
A-1A
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4
Subdivision
WAIAKEA HOMESTEADS 2ND SERIES
Standard status
Active
APN
3240440800000
Size
1,656 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7052
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Building Details
Year built
1966
Flooring type
Hardwood
Listing Agency:
Century 21 Homefinders of Hawaii · Century 21 Real Estate
(808) 935-7119
Listed By:
Doni M. Takaaze
(808) 896-5998
Added: May 5
Changed: Sep 13
Last Checked: Sep 25 at 6:06AM
MLS# 730183
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 property includes two residences totaling 1,656 square feet on a 0.3039-acre parcel. The homes were built in 1966 and feature hardwood flooring, five bedrooms, and two bathrooms. Both residences have been maintained and updated, offering separate living arrangements within one property.
A-1A zoning supports the property’s residential income classification. Electricity is available, and the site is served by a septic tank. The configuration can accommodate multigenerational living, occupancy of one home with rental use of the other, or rental operation of both residences, as described in the property information.
A-1A zoning supports the property’s residential income classification. Electricity is available, and the site is served by a septic tank. The configuration can accommodate multigenerational living, occupancy of one home with rental use of the other, or rental operation of both residences, as described in the property information.
Key Highlights
- Two residences on one 0.3039‑acre parcel
- 1,656 square feet with five bedrooms and two bathrooms
- A‑1A zoning
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
$24,834
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
3.01%
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%
$496,680
$496.7K
Cap Rate 7%
$354,771
$354.8K
Cap Rate 9%
$275,933
$275.9K
Market Conditions
NOI Build-Up for 1,656 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
$36.8K $22.20/SF
− Vacancy
−$1.3K −$0.78/SF
EGI
$35.5K $21.42/SF
− OpEx
−$10.6K −$6.43/SF
NOI
$24.8K $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%
$496,680
Cap Rate 7%
$354,771
Cap Rate 9%
$275,933
Alternative Uses
Best Use
Multifamily LT 5
$354.8K
$310.4K – $413.9K
NOI $24,834 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$325.0K
$284.3K – $379.1K
NOI $22,747 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$565.2K
$494.5K – $659.4K
NOI $39,561 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two maintained residences provide options for multigenerational living, rental use, or owner occupancy under A-1A zoning.
Where is this duplex located?
The property is located at 557 KUPULAU RD Hilo, HI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two residences on one 0.3039‑acre parcel; 1,656 square feet with five bedrooms and two bathrooms; A‑1A zoning
