The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 26th, 2015

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Prospect St/Nehoa St Area

Honolulu, Hawaii

NehoeProspect St/Nehoa St area median real estate price is $394,941, which is less expensive than 84.1 percent of Hawaii neighborhoods and 16.1 percent of all U.S. neighborhoods.

The average rental price in Prospect St/Nehoa St is currently $1,408 and rents here are currently lower in price than 65.1 percent of Hawaii neighborhoods. Real estate vacancies in Prospect St/Nehoa St are 4.6 percent, which is lower than one will find in 78.7 percent of American neighborhoods. Demand for real estate in Prospect St/Nehoa St is above average for the U.S., and signals demand for either price increases or new construction of residential homes.

Prospect St/Nehoa St real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominium complexes, high-rises and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Prospect St/Nehoa St neighborhood are established but not old, having been built between 1970 and 1999 with a number of residences built between 1940 and 1969.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways.

The Prospect St/Nehoa St area is very densely populated compared to most U.S. neighborhoods. In fact, with 41,243 persons per square mile in the neighborhood, it is more packed with people than 98.1 percent of the nation’s neighborhoods.

In addition, the Prospect St/Nehoa St area is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or condominium sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.8 percent of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, one of the really unique and interesting things about the look and setting of the Prospect St/Nehoa St area is that it is almost entirely dominated by large condominium complexes and high-rise apartments and 90.2 percent of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large condominium complexes than 98.6 percent of all neighborhoods in America.

With a nice mix of college students, safety from crime, and decent walkability, the Prospect St/Nehoa St neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. It rates more highly for a good place for college students to live than 90 percent of the neighborhoods in Hawaii and has certain amenities and services geared towards college students, from undergraduates to graduate students.

Your future neighbors in the Prospect St/Nehoa St area enjoy upper-middle class income, making it an above average income neighborhood and has a higher income than 60.4 percent of the neighborhoods in America.

In the Prospect St/Nehoa St neighborhood, 45.5 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 34.1 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 13.4 percent and 10.8 percent in government jobs, whether they are in local, state, or federal positions.

Each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicity and ancestry of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Prospect St/Nehoa St neighborhood residents most commonly identify their ethnicity or ancestry as Asian at 46.5 percent. There are also a number of people of English ancestry at 4.2 percent and residents who report Mexican roots at 3.0 percent. Some of the residents are also of German ancestry at 2.6 percent, and some report Puerto Rican ancestry residents at 2.5 percent, along with 0.7 percent having Yugoslav ancestry, among others. In addition, 25.3 percent of the residents of this neighborhood were born in another country.

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Prospect St/Nehoa St neighborhood is English, spoken by 65.4 percnet of households. Other important languages spoken here include Japanese at 8.5 percent, Korean, Chinese and Vietnamese.

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Prospect St/Nehoa St Homes for Sale Listings

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FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

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A SIMPLE HOME SHOPPING INSPECTION TOOL

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This simple home inspection tool makes your ultimate buying decision a smart one.

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