3411 Wilcox Rd Unit BV25 · Lihue, HI 96766

$499,000

2 bd · 1.5 ba · 920 sqft · Condo · 80 Days on market

Built 1978 $542/sqft · 9% above area Est $457k · 9% over $1140/mo HOA · 30% of rent ↓ 6% since listing

---

Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Schools +5.0/10.0
• ARV discount +3.4/15.0
• Cash flow +3.2/30.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Enjoy the location and lifestyle of living at the Banyan Harbor in Lihue. Conveniently located across the street from Kalapaki Bay where a beautiful sandy beach, surf, and ocean activities await. This condo complex offers resort-style amenities including an oceanview swimming pool, BBQ area, tennis/ pickleball court, and shuffleboard. BV25 is an updated 2BD, 1.5BA condo unit that is ready for you to enjoy as a primary residence, second home, or a vacation rental/ 1031 Exchange. The main level of this split-level condo offers a kitchen with counter seating, a living/ dining area, a half-bath, and an ocean view lanai. The second floor offers an ocean view primary bedroom, a guest bedroom with loft/ storage and mountain view, and a newer washer/ dryer. Area conveniences include dining and shopping at Anchor Cove, Harbor Mall, Kauai Athletic Center, and the famous Duke’s Restaurant. The Kukui Grove shopping center, Hokulei Village, Costco, and Home Depot are just minutes away.

Key facts

• $1,140 HOA
• Built 1978
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $499k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (46.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (23.8% below list).
• Recommended offer: $270k (46.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#53 in HI) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A, crime A-; Watch: health & safety C-, amenities F, cost of living F.
• Zoned schools: Elsie H Wilcox Elementary School (math 39% / reading 49%, grade F, #77 of 183 statewide, top 42%, 731 students, 48% FRL); Chiefess Kamakahelei Middle School (math 29% / reading 52%, grade F, #15 of 42 statewide, top 34%, 808 students, 48% FRL); Kauai High School (math 33% / reading 64%, grade D, #13 of 43 statewide, top 33%, 1,108 students, 40% FRL).
• Market conditions: 37 active listings in the ZIP; 141 units permitted in Kauai County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Kauai County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($469k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $269,605 (46.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.76% ✗
• Cap rate: 2.48%
• Cash-on-cash: -13.62%
• DSCR: 0.39
• GRM: 10.9

CMA / ARV

• ARV (median comp): $456,938
• List price: $499,000
• Delta: 9.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 2.23×
• Total profit: $171,558
• Equity at exit: $449,539

10-year hold

• IRR: 14.7%
• Equity multiple: 5.19×
• Total profit: $586,118
• Equity at exit: $969,447

Cash invested: $139,720 (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 →

ZIP-level market 96766

• Home prices YoY: 2.0%
• Active inventory: 37
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,801 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA: −$1,140
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $-1,585

Break-even live

Break-even rent $5,808

Max offer price $269,605

Occupancy floor —

Sensitivity live

Price	-10% $-1,240	-5% $-1,413	+0% $-1,585	+5% $-1,758	+10% $-1,930
Rent	-10% $-1,886	-5% $-1,735	+0% $-1,585	+5% $-1,435	+10% $-1,285
Rate	-1.0pp $-1,334	-0.5pp $-1,458	base $-1,585	+0.5pp $-1,715	+1.0pp $-1,846

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,140 · $13,680/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $499,000 Active 80 DOM
2. 2026-06-18
   days on market $499,000 Active 77 DOM
3. 2026-06-17
   days on market $499,000 Active 76 DOM
4. 2026-06-16
   days on market $499,000 Active 75 DOM
5. 2026-06-15
   days on market $499,000 Active 74 DOM
6. 2026-06-13
   days on market $499,000 Active 72 DOM
7. 2026-06-13
   days on market $499,000 Active 71 DOM
8. 2026-06-10
   days on market $499,000 Active 69 DOM
9. 2026-06-09
   days on market $499,000 Active 68 DOM
10. 2026-06-08
    days on market $499,000 Active 67 DOM
11. 2026-06-07
    days on market $499,000 Active 66 DOM
12. 2026-06-05
    days on market $499,000 Active 63 DOM
13. 2026-06-03
    days on market $499,000 Active 62 DOM
14. 2026-06-02
    days on market $499,000 Active 61 DOM
15. 2026-06-01
    days on market $499,000 Active 60 DOM
16. 2026-05-31
    days on market $499,000 Active 59 DOM
17. 2026-04-28
    price $595,000 993-char remark

    Show marketing remark (993 chars)

    Enjoy the location and lifestyle of living at the Banyan Harbor in Lihue. Conveniently located across the street from Kalapaki Bay where a beautiful sandy beach, surf, and ocean activities await. This condo complex offers resort-style amenities including an oceanview swimming pool, BBQ area, tennis/ pickleball court, and shuffleboard. BV25 is an updated 2BD, 1.5BA condo unit that is ready for you to enjoy as a primary residence, second home, or a vacation rental/ 1031 Exchange. The main level of this split-level condo offers a kitchen with counter seating, a living/ dining area, a half-bath, and an ocean view lanai. The second floor offers an ocean view primary bedroom, a guest bedroom with loft/ storage and mountain view, and a newer washer/ dryer. Area conveniences include dining and shopping at Anchor Cove, Harbor Mall, Kauai Athletic Center, and the famous Duke’s Restaurant. The Kukui Grove shopping center, Hokulei Village, Costco, and Home Depot are just minutes away.

18. 2026-04-03
    listed $635,000 Active 993-char remark

    Show marketing remark (993 chars)

    Enjoy the location and lifestyle of living at the Banyan Harbor in Lihue. Conveniently located across the street from Kalapaki Bay where a beautiful sandy beach, surf, and ocean activities await. This condo complex offers resort-style amenities including an oceanview swimming pool, BBQ area, tennis/ pickleball court, and shuffleboard. BV25 is an updated 2BD, 1.5BA condo unit that is ready for you to enjoy as a primary residence, second home, or a vacation rental/ 1031 Exchange. The main level of this split-level condo offers a kitchen with counter seating, a living/ dining area, a half-bath, and an ocean view lanai. The second floor offers an ocean view primary bedroom, a guest bedroom with loft/ storage and mountain view, and a newer washer/ dryer. Area conveniences include dining and shopping at Anchor Cove, Harbor Mall, Kauai Athletic Center, and the famous Duke’s Restaurant. The Kukui Grove shopping center, Hokulei Village, Costco, and Home Depot are just minutes away.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $45,618
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$3,649
• − Management: −$3,649
• − HOA: −$13,680
• − Depreciation: −$14,516
• Taxable loss: −$27,809
• Est. tax savings @ 24.0%: +$6,674
• After-tax cash flow: $-12,349/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.

Schools (NCES district)

No district data.

Livability — Lihue

• Score: 65/100
• State rank: #53
• US rank: #12846

Category grades

Amenities F Commute A Cost of living F Crime A- Employment A+ Housing C Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lihue, HI
• Population (ZIP): 16,924

Population outlook (Kauai County) Hauer SSP2

• Today (2025): 80,681 people
• By 2030: 85,158 · +5.5%
• By 2040: 93,679 · +16.1%
• By 2050: 102,608 · +27.2%
• By 2075: 129,159 · +60.1%
• By 2100: 157,205 · +94.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Asian 45% Two or more races 28% White 14% Hispanic / Latino 12% Pacific Islander 9% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Russian 5% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 78% English-only · Other Asian/Pacific 13% Tagalog/Filipino 6% Chinese 1%

Political lean MEDSL · Kauai

• 2024 margin: D (+19.5) · D 58.8% · R 39.3% · Other 1.9%
• 2008→2024 swing: -32.5pp toward R · 2008: 52.0pp · 2024: 19.5pp
• All cycles: 2024: D+19.5 2020: D+28.8 2016: D+33.7 2012: D+49.3 2008: D+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.33%
• Current HPI: 769.4957
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.3% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $595,000 HI Information Service
• 2026-04-03 Listed $635,000 HI Information Service