1415 Victoria St #915 · Urban Honolulu, HI 96822

$315,000

1 bd · 1.0 ba · 534 sqft · Condo public records · 47 Days on market

Built 1961 $590/sqft · 9% above area Est $291k · 8% over $696/mo HOA · 23% of rent

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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).

• Cash flow +10.1/30.0
• Appreciation +6.4/10.0
• 1% rule +4.6/10.0
• ARV discount +3.8/15.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• DSCR +2.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This building is well-maintained and offers comfort and convenience in the heart of downtown. It is conveniently located and has easy access to downtown areas; Ward and Neal S. Blaisdell Center. Just minutes from Thomas Square and the Academy of Arts. It is close to shopping, hospitals, schools, churches, restaurants and the bus line. It is a one bedroom, one bath apartment with a large parking stall that can fit 2 small cars. One of the few buildings that still has a low maintenance fee. There is a rooftop pool, BBQ area. Perfect for anyone looking for a quiet area and easy access the City has to offer. Refreshed with new carpeting installed October 1, 2025.

Key facts

• Easy access
• Rooftop pool
• Bbq area

Tags

• DOWNTOWN LOCATION
• EASY ACCESS
• ROOFTOP POOL
• BBQ AREA
• LOW MAINTENANCE FEE

Property features AI

Finance

• Other: Zoning: 12 - A-2 Medium Density Apartment
• Financial info: Maintenance expense: $696.41
• HOA & community: Association covers common areas, cable TV, hot water, grounds and structure maintenance; Community amenities include barbecue, community pool, deck/porch, laundry facilities, patio, recreation area, and trash chute

Exterior

• Parking: Assigned covered parking (1 space)
• Security: Key card entry
• Utilities: Fee simple land tenure
• Home design: Town House building; Entry level 9; Average condition
• Construction: Concrete construction; Built in 2025
• Exterior features: Heated pool; Key card entry; Views

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Partially furnished; Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $302k (4.0% below list).
• Recommended offer: $282k (10.4% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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.
• Market conditions: Rents rising fast (+5.3%/yr); 177 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• This rent runs 38% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (2.7% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $282,108 (10.4% 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 47 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 0.96% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.53%
• DSCR: 0.89
• GRM: 8.7

CMA / ARV

• ARV (median comp): $290,781
• List price: $315,000
• Delta: 8.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.71% appreciation · 5.35% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.33×
• Total profit: $28,870
• Equity at exit: $136,508

10-year hold

• IRR: 10.2%
• Equity multiple: 2.56×
• Total profit: $137,732
• Equity at exit: $206,471

Cash invested: $88,200 (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 96822

• Home prices YoY: 1.0%
• Rents YoY: 5.3%
• Active inventory: 177
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,023 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$131
• HOA: −$696
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $-186

Break-even live

Break-even rent $3,258

Max offer price $282,108

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	23d	1	0.35mi
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	2d	1	0.35mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	17d	1	0.43mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	23d	1	0.45mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$3,500	$3.01	3d	4	0.57mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	19d	1	0.62mi
909 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	790	$2,700	$3.42	3d	2	0.65mi
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	23d	1	0.67mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	1d	2	0.70mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	23d	2	0.70mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$2,900	$2.98	14d	2	0.71mi
600 Queen St Honolulu, HI	1.0–2.0	1.0–2.0	847	$2,700	$3.19	3d	1	0.72mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	3d	1	0.75mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	17d	1	0.78mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	43d	1	0.78mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	19d	1	0.78mi
1500 Rycroft St Unit 1509R Honolulu, HI	—	1.0	416	$3,000	$7.21	23d	1	0.78mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	23d	1	0.78mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	23d	1	0.78mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	23d	1	0.78mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	17d	1	0.78mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	17d	9	0.79mi
987 Queen St Honolulu, HI	1.0	1.0	606	$3,975	$6.56	43d	2	0.79mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	10d	9	0.79mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	16d	8	0.79mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	23d	3	0.80mi
988 Halekauwila St #906 Honolulu, HI	2.0	2.0	744	$3,500	$4.70	11d	1	0.82mi
988 Halekauwila St Honolulu, HI	1.0	1.0	511	$2,700	$5.28	3d	1	0.82mi
1133 Waimanu St #1808 Honolulu, HI	1.0	1.0	556	$2,800	$5.04	11d	1	0.82mi
1133 Waimanu St #405 Honolulu, HI	1.0	1.0	550	$2,700	$4.91	3d	1	0.82mi
988 Halekauwila St Honolulu, HI	2.0	2.0	738	$3,600	$4.88	16d	1	0.82mi
988 Halekauwila St Unit Ke Kilohana Honolulu, HI	2.0	2.0	739	$3,700	$5.01	10d	1	0.82mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	10d	1	0.84mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	43d	1	0.84mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	23d	1	0.84mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	3d	1	0.84mi
333 Ward Ave #1306 Honolulu, HI	1.0	1.0	749	$4,600	$6.14	3d	1	0.85mi
333 Ward Ave #2209 Honolulu, HI	1.0	1.0	563	$4,200	$7.46	16d	1	0.85mi
333 Ward Ave #1709 Honolulu, HI	1.0	1.0	565	$4,000	$7.08	10d	1	0.85mi
333 Ward Ave #2909 Honolulu, HI	1.0	1.0	565	$3,900	$6.90	3d	1	0.85mi

HOA detail condo

• Monthly dues: $696 · $8,352/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $315,000 Active 47 DOM
2. 2026-06-17
   days on market $315,000 Active 46 DOM
3. 2026-06-16
   days on market $315,000 Active 45 DOM
4. 2026-06-15
   days on market $315,000 Active 44 DOM
5. 2026-06-13
   days on market $315,000 Active 42 DOM
6. 2026-06-13
   days on market $315,000 Active 41 DOM
7. 2026-06-10
   days on market $315,000 Active 39 DOM
8. 2026-06-09
   days on market $315,000 Active 38 DOM
9. 2026-06-08
   days on market $315,000 Active 37 DOM
10. 2026-06-07
    days on market $315,000 Active 36 DOM
11. 2026-06-05
    days on market $315,000 Active 33 DOM
12. 2026-06-03
    days on market $315,000 Active 32 DOM
13. 2026-06-02
    days on market $315,000 Active 31 DOM
14. 2026-06-01
    days on market $315,000 Active 30 DOM
15. 2026-05-31
    days on market $315,000 Active 29 DOM
16. 2026-05-01
    listed $315,000 Active 667-char remark
17. 2026-02-28
    historical
18. 2025-12-10
    listed $340,000 Active
19. 2025-08-15
    historical
20. 2025-02-06
    listed $380,000 Active
21. 1992-09-01
    soldstatus $1,207,790
22. 1992-09-01
    soldstatus $27,450
23. 1992-08-28
    soldstatus $1,207,790
24. 1980-04-01
    soldstatus $76,000
25. 1980-03-01
    soldstatus $76,000

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

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $1,140 · $95/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $36,272
• − Mortgage interest: −$17,645
• − Property taxes: −$1,140
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − HOA: −$8,352
• − Depreciation: −$9,164
• Taxable loss: −$7,407
• Est. tax savings @ 24.0%: +$1,778
• After-tax cash flow: $-457/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)

• 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 · 963,448 people
• City population: 309,956
• Metro: Urban Honolulu, HI
• Population (ZIP): 43,747
• Household income: $95,947
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 2139.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Asian 48% White 21% Two or more races 20% Pacific Islander 7% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Russian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 20% · South Korea, China, Vietnam
• Languages at home: 73% English-only · Other Asian/Pacific 11% Chinese 4% Korean 3%

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: ▲ 2.71%
• Current HPI: 273.9456
• Rent YoY: ▲ 5.35%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+314.5% since first listed

10 events — show timeline

• 2026-05-01 Listed $315,000 HiCentral MLS
• 2026-02-28 Listing Removed — HiCentral MLS
• 2025-12-10 Listed $340,000 HiCentral MLS
• 2025-08-15 Listing Removed — HiCentral MLS
• 2025-02-06 Listed $380,000 HiCentral MLS
• 1992-09-01 Sold (Public Records) $27,450 Public Records
• 1992-09-01 Sold (Public Records) $1,207,790 Public Records
• 1992-08-28 Sold (Public Records) $1,207,790 Public Records
• 1980-04-01 Sold (Public Records) $76,000 Public Records
• 1980-03-01 Sold (Public Records) $76,000 Public Records

Property tax history

+2.8%/yr

Latest (2022): $1,140 · -2.4% YoY. Source: county tax records.