Estimated payment $2,383/month
Highlights
- 2 Car Garage
- Vinyl Flooring
- 4-minute walk to Hawaii County Planning Department
- Level Lot
About This Home
High-Cash-Flow Investment in Downtown Hilo –Now $495,500
Hoku Street,Hilo,HI 96720
This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further.
Income & ROI:
• Current gross income: $70,000–$80,000+ per year
• At $495,500 — gross ROI of 13.1% at $70K/year or 15% at $80K/year
• Opportunity to increase ROI through optimized room-by-room rentals
• Additional tax benefits from depreciation and write-offs
• Multi-tenant setup reduces vacancy risk and enhances income stability
Why Room-by-Room Works Well Here:
• Higher total income than whole-house rentals
• Strong demand from students, workers, and medical professionals
• Ideal for investors seeking high NOI and rent per square foot
• Flexible layout suited for shared housing, workforce rentals, or multi-family use
Listing Agent
Nathalie Mullinix R. U., Inc. Brokerage Phone: (808) 261-0350 License #RB-17596 Listed on: 08/26/2025
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $3,468
Year Built
- Built in 1945
Lot Details
- 4,312 Sq Ft Lot
- Street terminates at a dead end
- Level Lot
- Cleared Lot
- Property is in average condition
- Zoning described as 07 - R-3.5 Residential District
Parking
- 2 Car Garage
- Carport
Home Design
- Metal Roof
Interior Spaces
- 3,900 Sq Ft Home
- 2-Story Property
Flooring
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 9 Bedrooms
- 3 Full Bathrooms
Utilities
- Above Ground Utilities
- Cable TV Available
Community Details
- Hilo Subdivision
Listing and Financial Details
- Assessor Parcel Number 3-2-2-016-033-0000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,462 | $311,900 | $130,400 | $181,500 |
| 2024 | $3,317 | $298,800 | $130,400 | $168,400 |
| 2023 | $3,186 | $287,000 | $130,400 | $156,600 |
| 2022 | $3,186 | $287,000 | $130,400 | $156,600 |
| 2021 | $2,798 | $252,100 | $116,700 | $135,400 |
| 2020 | $2,541 | $228,900 | $101,500 | $127,400 |
| 2019 | $2,171 | $195,600 | $70,700 | $124,900 |
| 2018 | $2,113 | $190,400 | $70,700 | $119,700 |
| 2017 | $1,868 | $168,300 | $53,200 | $115,100 |
| 2016 | $1,477 | $147,000 | $53,200 | $93,800 |
| 2015 | -- | $137,900 | $53,200 | $84,700 |
| 2014 | -- | $136,900 | $53,200 | $83,700 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/23/2026 04/23/26 | Price Changed | $395,000 | -20.3% | $101 / Sq Ft |
| 02/24/2026 02/24/26 | Price Changed | $495,500 | -7.4% | $127 / Sq Ft |
| 12/05/2025 12/05/25 | Price Changed | $535,000 | -14.4% | $137 / Sq Ft |
| 08/26/2025 08/26/25 | For Sale | $625,000 | -- | $160 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Listed On Document | |
| Commissioners Deed | -- | Title Guaranty & Escrow Servic | |
| Commissioners Deed | $75,000 | Title Guaranty & Escrow Servic |
Source: HiCentral MLS (Honolulu Board of REALTORS®)
MLS Number: 202518347
APN: 3-2-2-016-033-0000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Some of the active listings appearing on this site may be listed by other REALTORS(R). If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2026 HiCentral MLS, Ltd
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