931 University Ave #308 · Urban Honolulu, HI 96826

$250,000

1 bd · 1.0 ba · 642 sqft · Condo · 491 Days on market

Built 1959 Good condition $389/sqft · 28% below area Est $349k · 28% under $652/mo HOA · 24% of rent ↓ 17% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• 1% rule +6.0/10.0
• Appreciation +4.5/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• DSCR +2.5/10.0
• Livability +2.5/5.0

Listing remarks MLS

Large BMX-3 Unit with one unassigned parking stall, one full bath and Kitchen recently remodeled in a central location walk to University Hawaii, close to Bus, shopping, restaurants. Washer/Dryer is acceptable to install. Third story walk-up.

Key facts

• Central location
• $652 HOA
• Parking

Tags

• KITCHEN RECENTLY REMODELED
• CENTRAL LOCATION
• WALK TO UNIVERSITY HAWAII

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (11.5% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.3% vs local median 1.5% 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 D — 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: Prince Jonah Kuhio Elementary School (math 22% / reading 37%, grade F, #122 of 183 statewide, top 71%, 196 students, 66% 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 62% FRL vs 39% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• At $2,762/mo this rent would consume 49% of the median local household income ($68k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 491 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent; built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000 (12.0% 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 491 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — 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. 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?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 7.5

CMA / ARV

• ARV (median comp): $348,878
• List price: $250,000
• Delta: -28.34%
• 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
2714 Kahoaloha Ln #805	0.12mi	2/1.0 (+1)	719 (+12%)	0mo	$335,000	$466	69
1541 Dominis St #1006	1.14mi	1/1.0	630 (-2%)	0mo	$300,000	$476	62
2121 Ala Wai Blvd #3504	0.67mi	2/1.0 (+1)	653 (+2%)	0mo	$499,000	$764	61
1778 Ala Moana Blvd #2818	1.12mi	1/1.0	683 (+6%)	0mo	$408,000	$597	54
1778 Ala Moana Blvd #4012	1.12mi	1/1.0	683 (+6%)	0mo	$499,000	$731	54
2100 Date St #706	0.51mi	1/1.0	531 (-17%)	0mo	$360,000	$678	51
1388 Kapiolani Blvd #1703	1.41mi	1/1.0	574 (-11%)	0mo	$845,000	$1,472	47
469 Ena Rd #1806	0.86mi	1/1.0	725 (+13%)	0mo	$465,000	$641	43
1888 Kalakaua Ave #1103	0.80mi	1/1.0	799 (+24%)	0mo	$550,000	$688	40
229 Paoakalani Ave #1906	1.17mi	1/1.0	543 (-15%)	0mo	$590,000	$1,087	40
201 Ohua Ave Unit 2912 T-2 Mauka	1.14mi	1/1.0	533 (-17%)	0mo	$715,000	$1,341	40
1634 Makiki St #903	1.24mi	2/1.0 (+1)	731 (+14%)	0mo	$415,000	$568	37

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

Projected returns pro-forma

-1.0% appreciation · 3.55% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.58×
• Total profit: $-29,509
• Equity at exit: $60,288

10-year hold

• IRR: -2.0%
• Equity multiple: 0.81×
• Total profit: $-13,453
• Equity at exit: $63,257

Cash invested: $70,000 (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: 9 active · 17 under contract
• Median asking: $399,900 ($640/sqft)
• Median days on market: 126 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -15.1% vs current asking $/sqft

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

ZIP-level market 96826

• Home prices YoY: -0.4%
• Rents YoY: 3.5%
• Active inventory: 188
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,762 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$652
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-198

Break-even live

Break-even rent $3,012

Max offer price $221,353

Occupancy floor —

Sensitivity live

Price	-10% $-25	-5% $-112	+0% $-198	+5% $-284	+10% $-371
Rent	-10% $-416	-5% $-307	+0% $-198	+5% $-89	+10% $20
Rate	-1.0pp $-72	-0.5pp $-134	base $-198	+0.5pp $-263	+1.0pp $-329

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: $62,500
• Closing costs: $7,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	72d	1	0.07mi
2710 Kaaha St Honolulu, HI	1.0	1.0	418	$3,300	$7.89	72d	1	0.14mi
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,050	$5.30	72d	1	0.19mi
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,950	$6.86	52d	1	0.19mi
2499 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–1.5	575	$2,750	$4.78	59d	2	0.30mi
2499 Kapiolani Blvd Honolulu, HI	1.0	1.0	474	$2,675	$5.64	66d	2	0.30mi
2499 Kapiolani Blvd #3800 Honolulu, HI	2.0	1.5	676	$3,000	$4.44	28d	1	0.31mi
555 University Ave Honolulu, HI	1.0–4.0	1.0–3.5	2442	$2,700	$1.11	39d	3	0.39mi
500 University Ave #2002 Honolulu, HI	1.0	1.0	532	$2,650	$4.98	46d	1	0.45mi
2845 Waialae Ave #421 Honolulu, HI	2.0	1.0	607	$2,800	$4.61	35d	1	0.45mi
2845 Waialae Ave #421 Honolulu, HI	2.0	1.0	625	$2,800	$4.48	20d	1	0.45mi
2333 Kapiolani Blvd Unit 1008B Honolulu, HI	2.0	1.0	600	$2,700	$4.50	72d	1	0.48mi
2240 Metcalf St Honolulu, HI	1.0	1.0	650	$2,600	$4.00	41d	1	0.60mi
910 Kapahulu Ave #703 Honolulu, HI	2.0	1.0	739	$2,600	$3.52	60d	1	0.64mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1021	$4,225	$4.14	11d	1	0.66mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,200	$4.17	41d	1	0.66mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,150	$4.12	52d	2	0.66mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,400	$4.37	59d	1	0.66mi
2115 Ala Wai Blvd Honolulu, HI	1.0	1.0	644	$3,100	$4.81	25d	1	0.66mi
455 Lewers St Honolulu, HI	2.0	1.0	450	$3,250	$7.22	30d	1	0.67mi
2211 Ala Wai Blvd Honolulu, HI	1.0	1.0	437	$3,100	$7.09	72d	1	0.67mi
2211 Ala Wai Blvd #1108 Honolulu, HI	1.0	1.0	413	$2,600	$6.30	72d	1	0.67mi
754 Ekela Ave #608 Honolulu, HI	1.0	1.0	564	$2,700	$4.79	33d	1	0.68mi
445 Kaiolu St Honolulu, HI	1.0	1.0	490	$3,400	$6.94	66d	1	0.68mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$3,958	$11.15	47d	1	0.69mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	51d	1	0.69mi
430 Lewers St Unit 14D Honolulu, HI	1.0	1.0	732	$2,900	$3.96	72d	1	0.71mi
430 Lewers St Unit 25E Honolulu, HI	1.0	1.0	673	$2,700	$4.01	72d	1	0.71mi
440 Seaside Ave #808 Honolulu, HI	2.0	1.0	630	$3,650	$5.79	17d	1	0.72mi
2281 Ala Wai Blvd #902 Honolulu, HI	2.0	1.0	609	$3,950	$6.49	63d	1	0.72mi
445 Seaside Ave #2220 Honolulu, HI	1.0	1.0	570	$2,625	$4.61	41d	1	0.73mi
2140 Khi Ave Honolulu, HI	1.0	1.0	577	$4,500	$7.80	72d	1	0.75mi
2140 Khi AVE Unit 2006 Honolulu, HI	1.0	1.0	553	$2,995	$5.42	35d	1	0.75mi
2140 Khi AVE Unit 803 Honolulu, HI	—	1.0	460	$4,990	$10.85	93d	1	0.75mi
2140 Khi AVE Unit 2306 Honolulu, HI	1.0	1.0	553	$2,700	$4.88	66d	1	0.75mi
2140 Khi AVE Unit 1007 Honolulu, HI	1.0	1.0	560	$3,000	$5.36	28d	1	0.75mi
2140 Khi Ave. unit Ph 2506 Honolulu, HI	1.0	1.0	678	$3,200	$4.72	63d	1	0.75mi
430 Keoniana St #606 Honolulu, HI	1.0	1.0	643	$2,600	$4.04	46d	1	0.76mi
2345 Ala Wai Blvd #1514 Honolulu, HI	1.0	1.0	555	$2,800	$5.05	72d	1	0.78mi
383 Kalaimoku St Unit D2709 Honolulu, HI	—	1.0	706	$3,300	$4.67	11d	1	0.80mi

HOA detail $652/mo · $7,824/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $250,000 Active 491 DOM
2. 2026-08-07
   days on market $250,000 Active 490 DOM
3. 2026-08-06
   days on market $250,000 Active 489 DOM
4. 2026-08-05
   days on market $250,000 Active 488 DOM
5. 2026-08-04
   days on market $250,000 Active 487 DOM
6. 2026-08-03
   days on market $250,000 Active 486 DOM
7. 2026-07-31
   days on market $250,000 Active 483 DOM
8. 2026-07-30
   days on market $250,000 Active 482 DOM
9. 2026-07-30
   days on market $250,000 Active 481 DOM
10. 2026-07-28
    days on market $250,000 Active 480 DOM
11. 2026-07-24
    days on market $250,000 Active 476 DOM
12. 2026-07-23
    days on market $250,000 Active 475 DOM
13. 2026-07-22
    days on market $250,000 Active 474 DOM
14. 2026-07-21
    days on market $250,000 Active 473 DOM
15. 2026-07-18
    days on market $250,000 Active 470 DOM
16. 2026-07-18
    days on market $250,000 Active 469 DOM
17. 2026-07-15
    days on market $250,000 Active 467 DOM
18. 2026-07-14
    days on market $250,000 Active 466 DOM
19. 2026-07-13
    days on market $250,000 Active 465 DOM
20. 2026-07-13
    days on market $250,000 Active 464 DOM
21. 2026-07-11
    days on market $250,000 Active 463 DOM
22. 2026-07-10
    days on market $250,000 Active 462 DOM
23. 2026-07-10
    days on market $250,000 Active 461 DOM
24. 2026-07-07
    days on market $250,000 Active 459 DOM
25. 2026-07-06
    days on market $250,000 Active 458 DOM
26. 2026-07-05
    days on market $250,000 Active 457 DOM
27. 2026-07-03
    days on market $250,000 Active 455 DOM
28. 2026-07-02
    days on market $250,000 Active 454 DOM
29. 2026-07-01
    days on market $250,000 Active 453 DOM
30. 2026-06-30
    days on market $250,000 Active 452 DOM
31. 2026-06-29
    days on market $250,000 Active 451 DOM
32. 2026-06-29
    days on market $250,000 Active 450 DOM
33. 2026-06-27
    days on market $250,000 Active 449 DOM
34. 2026-06-27
    days on market $250,000 Active 448 DOM
35. 2026-06-25
    days on market $250,000 Active 446 DOM
36. 2026-06-22
    days on market $250,000 Active 444 DOM
37. 2026-06-21
    days on market $250,000 Active 443 DOM
38. 2026-06-18
    days on market $250,000 Active 440 DOM
39. 2026-06-17
    days on market $250,000 Active 439 DOM
40. 2026-06-15
    days on market $250,000 Active 437 DOM
41. 2026-06-13
    days on market $250,000 Active 435 DOM
42. 2026-06-13
    days on market $250,000 Active 434 DOM
43. 2026-06-10
    days on market $250,000 Active 432 DOM
44. 2026-06-09
    days on market $250,000 Active 431 DOM
45. 2026-06-08
    days on market $250,000 Active 430 DOM
46. 2026-06-07
    days on market $250,000 Active 429 DOM
47. 2026-06-05
    days on market $250,000 Active 426 DOM
48. 2026-06-03
    days on market $250,000 Active 425 DOM
49. 2026-06-02
    days on market $250,000 Active 424 DOM
50. 2026-06-01
    days on market $250,000 Active 423 DOM

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

Taxation est. · year 1

• Rental income: $33,140
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,651
• − Management: −$2,651
• − HOA: −$7,824
• − Depreciation: −$7,273
• Taxable loss: −$6,263
• Est. tax savings @ 24.0%: +$1,503
• After-tax cash flow: $-873/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 · 1 photo

Good 75/100 Cosmetic rehab Est. rehab $3,210–$9,630 screening

This well-maintained condo is in good condition with recent kitchen renovations. It offers a good starting point for cosmetic upgrades to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers/renters ↑
• Resale Upgrading kitchen appliances — Modern appliances can increase the home's appeal to potential buyers ↑
• Resale Upgrading bathroom fixtures — Modern fixtures can increase the home's appeal to potential buyers ↑

ⓘ 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 32/100

Zoned Schools

Elementary Prince Jonah Kuhio Elementary School F HI #122/183 Nat'l #26,716/41,679 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): 29,174
• Household income: $68,296
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 11% 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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Asian 54% Two or more races 18% White 13% Pacific Islander 10% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Russian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 30% · Vietnam, China, South Korea
• Languages at home: 63% English-only · Other Asian/Pacific 13% Chinese 6% Vietnamese 6%

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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: ▼ -1.00%
• Current HPI: 272.9183
• Rent YoY: ▲ 3.55%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-16.7% since first listed

2 events — show timeline

• 2026-03-21 Price Changed $250,000 HiCentral MLS
• 2025-04-02 Listed $300,000 HiCentral MLS