New Duplex with Two 3BR
85-1020 Mill Street Waianae, HI 96792
85-1020 Mill Street, Waianae, HI, 96792
$1,575,000
For Sale
$1,575,000
Residential Multi Family, Other - Waianae, HI
Property Size2,400 SF
Price / SF$656.25
Days on Market134
Property Features for 85-1020 Mill Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
Building Details
- Year built
- 2026
- Architectural style
- Other
Listing Agency
NextHome All Islands
(808) 263-6000
45-480 Kaneohe Bay Dr., HI
Listed by
Tim Murray · License #59289,PersonLicenseNumber
(808) 489-0054
Added: Mar 6 Checked: Jul 18 at 3:06 am
MLS# 202605176
Listing URL
Copyright © 2026 NextHome, Inc. 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 for-sale duplex is a brand new multifamily offering designed as two separate 3-bedroom, 2-bath units. The plan includes approximately 1,200 square feet of interior living space per unit, along with a 400 square foot two-car garage for each side. The garages provide on-site flexibility for potential conversion to additional space, subject to buyer due diligence.
The property is connected to city water and sewer and is scheduled for estimated construction completion at the end of June. CPR maps and architectural drawings are available for review.
While each unit includes a defined garage area, the overall configuration supports independent living between the two 3-bedroom layouts, with separate exterior garage space tied to each unit.
The property is connected to city water and sewer and is scheduled for estimated construction completion at the end of June. CPR maps and architectural drawings are available for review.
While each unit includes a defined garage area, the overall configuration supports independent living between the two 3-bedroom layouts, with separate exterior garage space tied to each unit.
Key Highlights
- Brand‑new 2‑unit multi‑family with two separate 3‑bedroom, 2‑bath units
- Each unit has approximately 1,200 sq ft of interior living space plus a 400 sq ft two‑car garage
- Estimated construction completion is end of June (2026 year built stated)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.4k | $30.60 |
| − Vacancy | −$5.2k | −$2.15 |
| EGI | $68.3k | $28.45 |
| − OpEx | −$20.5k | −$8.53 |
| NOI | $47.8k | $19.91 |
2,400 SF · lease $30.60/SF/yr · vacancy 7.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$682.8K
$597.4K – $796.6K
NOI $47,794 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$628.6K
$550.1K – $733.4K
NOI $44,004 @ 7.0% cap · market cap 2.79%
Theoretical Best
Specialty Retail
$972.3K
$850.8K – $1.13M
NOI $68,064 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Newly planned duplex offers two separate 3-bedroom, 2-bath units with individual two-car garages and city water and sewer.
Where is this duplex located?
The property is located at 85-1020 Mill Street Waianae, HI.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Brand‑new 2‑unit multi‑family with two separate 3‑bedroom, 2‑bath units; Each unit has approximately 1,200 sq ft of interior living space plus a 400 sq ft two‑car garage; Estimated construction completion is end of June (2026 year built stated)
