425 Ena Rd Unit 308C · Urban Honolulu, HI 96815

$67,500

1 bd · 1.0 ba · 500 sqft · Condo · 478 Days on market

Built 1958 Good condition $135/sqft · 30% below area Est $96k · 30% under $743/mo HOA · 25% of rent ↓ 6% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +6.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0

Listing remarks MLS

Welcome to Kalia, a classic Waikiki residence located just minutes from world-famous beaches, shopping, and dining. This 1-bedroom, 1-bath leasehold unit offers a well-designed floor plan with an open living area and a private lanai perfect for relaxing or enjoying the tropical breeze. The unit is situated in a gated community with beautifully landscaped gardens, a pool, and on-site security. Conveniently located near Ala Moana Center, the beach, and public transportation. Monthly maintenance fee includes electricity, water, sewer, and cable TV. Lease expires in 2048, with current lease rent of $689.70. Other monthly fee $53.61 for cable. Great opportunity to own in the heart of Waikiki at an affordable price!

Key facts

• Gated community
• On-site security
• Landscaped gardens

Tags

• PRIVATE LANAI
• GATED COMMUNITY
• LANDSCAPED GARDENS
• ON-SITE SECURITY
• NEAR ALA MOANA CENTER
• NEAR PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $68k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.2% vs local median 1.6% in Urban Honolulu — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Hawaii Department Of Education (suburban): math 32% / reading 50% proficiency, ranked #1 of 1 in HI (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: President Thomas Jefferson Elementary School (math 42% / reading 47%, grade F, #73 of 183 statewide, top 41%, 340 students, 55% FRL); President George Washington Middle School (math 30% / reading 46%, grade F, #17 of 42 statewide, top 39%, 569 students, 61% FRL); Kaimuki High School (math 12% / reading 47%, grade F, #35 of 43 statewide, top 86%, 620 students, 60% FRL) — zoned schools average 59% FRL vs 39% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 1144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 119d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• At $3,022/mo this rent would consume 47% of the median local household income ($77k/yr) (locally 15% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (2.7% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.7% appreciation + 6.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 478 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $18k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 478 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.48% ✓
• Cap rate: 27.24%
• Cash-on-cash: 74.81%
• DSCR: 4.33
• GRM: 1.9

CMA / ARV

• ARV (median comp): $96,265
• List price: $67,500
• Delta: -29.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1777 Ala Moana Blvd #1319	0.26mi	1/1.0	500 (0%)	0mo	$529,000	$1,058	88
444 Niu St #3706	0.18mi	1/2.0	532 (+6%)	0mo	$501,000	$942	77
444 Niu St #3704	0.18mi	2/2.0 (+1)	476 (-5%)	0mo	$511,160	$1,074	74
411 Hobron Ln #2509	0.07mi	1/1.0	568 (+14%)	0mo	$400,000	$704	74
1655 Makaloa St #2203	0.44mi	1/1.0	484 (-3%)	0mo	$189,000	$390	74
1750 Kalakaua Ave #802	0.35mi	1/1.0	390 (-22%)	0mo	$220,000	$564	58
417 Nohonani St #513	0.75mi	1/1.0	468 (-6%)	0mo	$60,000	$128	54
417 Nohonani St #311	0.75mi	1/1.0	468 (-6%)	0mo	$60,000	$128	54
201 Ohua Ave Unit T2-3604	1.22mi	1/1.0	533 (+7%)	0mo	$870,000	$1,632	54
247 Beach Walk #803	0.52mi	1/1.0	574 (+15%)	0mo	$535,000	$932	51
2211 Ala Wai Blvd #1511	0.61mi	1/1.0	413 (-17%)	0mo	$295,000	$714	46
1025 Kalo Pl #804	1.05mi	1/1.0	390 (-22%)	0mo	$245,000	$628	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.74% appreciation · 6.0% rent growth · sell at horizon

5-year hold

• IRR: 79.7%
• Equity multiple: 5.65×
• Total profit: $87,970
• Equity at exit: $29,378

10-year hold

• IRR: 80.8%
• Equity multiple: 13.25×
• Total profit: $231,570
• Equity at exit: $44,534

Cash invested: $18,900 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 37 Tenant-Leaning
• State Hawaii: 37 Tenant-Leaning · D+13
• County: — inherits STATE
• City: — inherits STATE

Honolulu has source-of-income protections; warranty of habitability strong.

Methodology + full state rankings →

Active competition Active MLS

• For sale now: 6 active · 11 under contract
• Median asking: $454,000 ($809/sqft)
• Median days on market: 98 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -76.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 1144
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $3,022 high
• Mortgage (P&I): −$354
• Tax est. 1.5%: −$84 /mo · $1,012/yr
• Insurance: −$28
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$743
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $1,112

Break-even live

Break-even rent $1,615

Max offer price $67,500

Occupancy floor 58%

Sensitivity live

Price	-10% $1,158	-5% $1,135	+0% $1,112	+5% $1,088	+10% $1,065
Rent	-10% $873	-5% $992	+0% $1,112	+5% $1,231	+10% $1,351
Rate	-1.0pp $1,146	-0.5pp $1,129	base $1,112	+0.5pp $1,094	+1.0pp $1,077

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,875
• Closing costs: $2,025
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 Ena Rd Unit 204C Honolulu, HI	1.0	1.0	600	$2,700	$4.50	164d	1	0.03mi
1925 Kalakaua Ave Unit 1608459P Honolulu, HI	1.0	1.0	538	$3,821	$7.10	5d	1	0.10mi
1925 Kalakaua Ave #1302 Honolulu, HI	1.0	1.0	538	$3,200	$5.95	138d	1	0.10mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	611	$2,800	$4.58	24d	6	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	611	$2,950	$4.83	19d	5	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,172	$5.52	138d	4	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,475	$6.04	185d	3	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	566	$3,575	$6.31	184d	2	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	578	$2,800	$4.84	14d	3	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	578	$2,900	$5.02	119d	3	0.11mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	152d	1	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	667	$3,010	$4.51	14d	2	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0–1.5	696	$3,072	$4.41	18d	3	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	696	$3,095	$4.44	24d	2	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	723	$2,998	$4.15	127d	2	0.11mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	152d	1	0.11mi
1850 Ala Moana Blvd Unit 1627734P Honolulu, HI	1.0	1.0	495	$7,574	$15.30	53d	1	0.12mi
343 Hobron Ln Unit 21042104 Honolulu, HI	1.0	1.0	676	$4,950	$7.32	35d	1	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,800	$2.53	103d	3	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,900	$2.62	5d	3	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,800	$2.53	15d	4	0.15mi
430 Keoniana St #606 Honolulu, HI	1.0	1.0	643	$2,600	$4.04	138d	1	0.18mi
430 Keoniana St Unit 211211 Honolulu, HI	1.0	1.0	643	$3,500	$5.44	26d	1	0.19mi
1778 Ala Moana Blvd #2606 Honolulu, HI	1.0	1.0	724	$2,895	$4.00	144d	1	0.21mi
1778 Ala Moana Blvd #1219 Honolulu, HI	1.0	1.0	724	$4,600	$6.35	10d	1	0.21mi
1778 Ala Moana Blvd #2618 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	26d	1	0.21mi
1778 Ala Moana Blvd #1307 Honolulu, HI	1.0	1.0	683	$2,900	$4.25	164d	1	0.21mi
1778 Ala Moana Blvd #1313 Honolulu, HI	1.0	1.0	683	$2,700	$3.95	127d	1	0.21mi
1778 Ala Moana Blvd #3318 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	144d	1	0.21mi
1778 Ala Moana Blvd #801 Honolulu, HI	1.0	1.0	724	$3,400	$4.70	164d	1	0.21mi
1778 Ala Moana Blvd #1317 Honolulu, HI	1.0	1.0	683	$2,600	$3.81	133d	1	0.21mi
1778 Ala Moana Blvd #1402 Honolulu, HI	1.0	1.0	683	$3,500	$5.12	26d	1	0.21mi
1778 Ala Moana Blvd Unit 1541754P Honolulu, HI	1.0	1.0	721	$4,387	$6.08	155d	1	0.22mi
439 Keoniana St #201 Honolulu, HI	2.0	2.0	699	$3,300	$4.72	21d	1	0.23mi
2045 Kalakaua Ave Honolulu, HI	1.0	1.0	657	$4,200	$6.39	184d	1	0.24mi
1777 Ala Moana Blvd Unit 1327715P Honolulu, HI	1.0	1.0	495	$5,590	$11.29	184d	1	0.26mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	162d	1	0.27mi
1777 Ala Moana Blvd Honolulu, HI	2.0	1.0–2.0	735	$3,500	$4.76	5d	3	0.28mi
1684 Ala Moana Blvd Honolulu, HI	1.0	1.5–2.0	803	$3,300	$4.11	5d	2	0.29mi
1765 Ala Moana Blvd #1183 Honolulu, HI	1.0	1.0	440	$3,100	$7.05	5d	1	0.30mi

HOA detail $743/mo · $8,916/yr condo

• Likely covers: watersewerelectriccablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $67,500 Active 478 DOM
2. 2026-11-07
   days on market $67,500 Active 477 DOM
3. 2026-11-06
   days on market $67,500 Active 476 DOM
4. 2026-11-05
   days on market $67,500 Active 475 DOM
5. 2026-11-04
   pricedays on market $67,500 Active 474 DOM
6. 2026-11-02
   days on market $75,000 Active 472 DOM
7. 2026-11-01
   days on market $75,000 Active 471 DOM
8. 2026-10-31
   days on market $75,000 Active 470 DOM
9. 2026-10-30
   days on market $75,000 Active 469 DOM
10. 2026-10-29
    days on market $75,000 Active 468 DOM
11. 2026-10-28
    days on market $75,000 Active 467 DOM
12. 2026-10-27
    days on market $75,000 Active 466 DOM
13. 2026-10-26
    days on market $75,000 Active 465 DOM
14. 2026-10-26
    days on market $75,000 Active 464 DOM
15. 2026-10-24
    days on market $75,000 Active 463 DOM
16. 2026-10-23
    days on market $75,000 Active 462 DOM
17. 2026-10-22
    days on market $75,000 Active 461 DOM
18. 2026-10-21
    days on market $75,000 Active 460 DOM
19. 2026-10-20
    days on market $75,000 Active 459 DOM
20. 2026-10-19
    days on market $75,000 Active 458 DOM
21. 2026-10-18
    days on market $75,000 Active 457 DOM
22. 2026-10-17
    days on market $75,000 Active 456 DOM
23. 2026-10-16
    days on market $75,000 Active 455 DOM
24. 2026-10-15
    days on market $75,000 Active 454 DOM
25. 2026-10-14
    days on market $75,000 Active 453 DOM
26. 2026-10-13
    days on market $75,000 Active 452 DOM
27. 2026-10-12
    days on market $75,000 Active 451 DOM
28. 2026-10-11
    days on market $75,000 Active 450 DOM
29. 2026-10-10
    days on market $75,000 Active 449 DOM
30. 2026-10-09
    days on market $75,000 Active 448 DOM
31. 2026-10-08
    days on market $75,000 Active 447 DOM
32. 2026-10-07
    days on market $75,000 Active 446 DOM
33. 2026-10-07
    days on market $75,000 Active 445 DOM
34. 2026-10-05
    days on market $75,000 Active 444 DOM
35. 2026-10-04
    days on market $75,000 Active 443 DOM
36. 2026-10-03
    days on market $75,000 Active 442 DOM
37. 2026-10-02
    days on market $75,000 Active 441 DOM
38. 2026-10-01
    days on market $75,000 Active 440 DOM
39. 2026-09-30
    days on market $75,000 Active 439 DOM
40. 2026-09-29
    days on market $75,000 Active 438 DOM
41. 2026-09-27
    days on market $75,000 Active 436 DOM
42. 2026-09-25
    days on market $75,000 Active 434 DOM
43. 2026-09-24
    pricedays on market $75,000 Active 433 DOM
44. 2026-09-22
    days on market $80,000 Active 431 DOM
45. 2026-09-21
    days on market $80,000 Active 430 DOM
46. 2026-09-20
    days on market $80,000 Active 429 DOM
47. 2026-09-19
    days on market $80,000 Active 428 DOM
48. 2026-09-18
    days on market $80,000 Active 427 DOM
49. 2026-09-17
    days on market $80,000 Active 426 DOM
50. 2026-09-16
    days on market $80,000 Active 425 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $36,270
• − Mortgage interest: −$3,781
• − Property taxes: −$1,012
• − Insurance: −$1,135
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − HOA: −$8,916
• − Depreciation: −$1,964
• Taxable income: $13,658
• Est. tax owed @ 24.0%: −$3,278
• After-tax cash flow: $10,064/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $2,500–$7,500 screening

This Waikiki townhouse is in good condition with cosmetic updates needed to modernize the kitchen and bathroom. The location and amenities are ideal for both resale and rental.

Repairs flagged

• Minor kitchen cabinets — dated design
• Minor bathroom cabinets — dated design

Value-add opportunities

• Resale kitchen cabinets — modernizing the kitchen ↑
• Resale bathroom cabinets — modernizing the bathroom ↑
• Both landscaping — enhances curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 37/100

Zoned Schools

Elementary President Thomas Jefferson Elementary School F HI #73/183 Nat'l #16,061/41,679 Middle President George Washington Middle School F HI #17/42 Nat'l #6,571/14,009 High Kaimuki High School F HI #35/43 Nat'l #11,215/17,239

Schools (NCES district)

• District: Hawaii Department Of Education
• NCES district ID: 1500030
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $69,005
• Composite: 37.07/100
• National rank: #4504
• State rank: #1 of 1 in HI

Livability — Urban Honolulu

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Urban Honolulu, HI
• County: Honolulu County · 1,072,641 people
• City population: 309,956
• Metro: Urban Honolulu, HI
• Population (ZIP): 27,530
• Household income: $77,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 15% of renters

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Population outlook (Honolulu County) Hauer SSP2

• Today (2025): 1,072,641 people
• By 2030: 1,110,460 · +3.5%
• By 2040: 1,181,593 · +10.2%
• By 2050: 1,257,584 · +17.2%
• By 2075: 1,501,120 · +39.9%
• By 2100: 1,764,430 · +64.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Asian 41% White 35% Two or more races 16% Hispanic / Latino 6% Pacific Islander 4% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Languages at home: 66% English-only · Other Asian/Pacific 15% Chinese 5% Korean 3%

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Political lean MEDSL · Honolulu

• 2024 margin: Strong D (+21.6) · D 59.9% · R 38.3% · Other 1.8%
• 2008→2024 swing: -19.4pp toward R · 2008: 41.1pp · 2024: 21.6pp
• All cycles: 2024: D+21.6 2020: D+26.9 2016: D+29.9 2012: D+39.1 2008: D+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.74%
• Current HPI: 291.9404
• Rent YoY: ▲ 6.00%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-5.9% since first listed

9 events — show timeline

• 2026-05-06 Price Changed $80,000 HiCentral MLS
• 2025-08-29 Relisted — HiCentral MLS
• 2025-08-25 Contingent — HiCentral MLS
• 2025-07-18 Listed $85,000 HiCentral MLS
• 2020-10-27 Listing Removed — HiCentral MLS
• 2020-08-21 Listed $120,000 HiCentral MLS
• 2019-05-01 Sold (MLS) $85,000 HiCentral MLS
• 2019-03-21 Pending — HiCentral MLS
• 2019-03-19 Listed $85,000 HiCentral MLS