1137 Wilder Ave #803 · Urban Honolulu, HI 96822

$340,000

2 bd · 1.0 ba · 596 sqft · Condo public records · 221 Days on market

Built 1975 $570/sqft · 12% above area Est $303k · 12% over $670/mo HOA · 21% of rent

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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).

• Cash flow +6.8/30.0
• Appreciation +6.4/10.0
• 1% rule +4.3/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• DSCR +1.0/10.0

Listing remarks MLS

Affordable 2 bedroom Fee Simple condominium in convenient Makiki location. Close to schools, restaurants, Ala Moana Center, Walmart, Don Quijote and on the bus line. Easy access to freeway on ramps. Includes one covered, assigned parking stall.

Key facts

• Close to schools
• Close to restaurants
• Close to walmart

Tags

• FEE SIMPLE CONDOMINIUM
• MAKIKI LOCATION
• CLOSE TO SCHOOLS
• CLOSE TO RESTAURANTS
• CLOSE TO ALA MOANA CENTER
• CLOSE TO WALMART

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $-531 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (7.3% below list).
• Recommended offer: $263k (22.6% below list) — sets the bar for cash-flow.
• Cap rate 4.4% 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 F — 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: Queen Kaahumanu Elementary School (math 27% / reading 43%, grade F, #107 of 183 statewide, top 58%, 430 students, 63% FRL); Princess Ruth Keelikolani Middle School (math 8% / reading 23%, grade F, #42 of 42 statewide, top 100%, 324 students, 69% FRL); President William Mckinley High School (math 28% / reading 69%, grade D, #13 of 43 statewide, top 33%, 1,502 students, 50% FRL) — zoned schools average 61% FRL vs 39% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.3%/yr); 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 39% 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 $12k 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 ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $340k implies a 278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $263,208 (22.6% 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 221 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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: 0.93% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.69%
• DSCR: 0.70
• GRM: 9.0

CMA / ARV

• ARV (median comp): $303,186
• List price: $340,000
• Delta: 12.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $10,037
• Equity at exit: $147,342

10-year hold

• IRR: 7.0%
• Equity multiple: 2.08×
• Total profit: $102,656
• Equity at exit: $222,858

Cash invested: $95,200 (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: 180
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,151 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$670
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $-531

Break-even live

Break-even rent $3,822

Max offer price $263,208

Occupancy floor —

Sensitivity live

Price	-10% $-296	-5% $-413	+0% $-531	+5% $-648	+10% $-766
Rent	-10% $-780	-5% $-655	+0% $-531	+5% $-406	+10% $-282
Rate	-1.0pp $-359	-0.5pp $-444	base $-531	+0.5pp $-619	+1.0pp $-708

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	4d	1	0.10mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	25d	1	0.13mi
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	25d	1	0.25mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	25d	3	0.53mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	21d	1	0.55mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	5d	1	0.61mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	21d	1	0.67mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	25d	1	0.67mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	19d	1	0.67mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	25d	1	0.67mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	45d	1	0.67mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	25d	1	0.67mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	19d	1	0.67mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	19d	2	0.83mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	45d	2	0.83mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	4d	2	0.83mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$3,550	$3.64	16d	2	0.83mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	19d	1	0.84mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	5d	1	0.84mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	45d	1	0.85mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	12d	1	0.85mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	25d	1	0.85mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	25d	1	0.87mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$4,750	$4.89	5d	2	0.89mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$6,750	$5.81	5d	4	0.93mi
225 Auwaiolimu St Honolulu, HI	3.0	1.0	710	$3,800	$5.35	19d	1	0.95mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	23d	1	0.96mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	25d	2	0.97mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	3d	2	0.97mi
909 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	790	$3,600	$4.55	5d	2	0.97mi
1133 Waimanu St #1808 Honolulu, HI	1.0	1.0	556	$2,800	$5.04	13d	1	1.03mi
1133 Waimanu St #405 Honolulu, HI	1.0	1.0	550	$2,700	$4.91	5d	1	1.03mi
987 Queen St Honolulu, HI	1.0	1.0	606	$3,975	$6.56	45d	2	1.09mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	19d	9	1.09mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	12d	9	1.09mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	18d	8	1.09mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$3,000	$3.51	25d	2	1.12mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$3,000	$3.76	23d	3	1.12mi
600 Queen St Honolulu, HI	1.0–2.0	1.0–2.0	847	$4,100	$4.84	5d	1	1.15mi
988 Halekauwila St #906 Honolulu, HI	2.0	2.0	744	$3,500	$4.70	13d	1	1.17mi

HOA detail condo

• Monthly dues: $670 · $8,040/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $340,000 Active 221 DOM
2. 2026-06-18
   days on market $340,000 Active 218 DOM
3. 2026-06-17
   days on market $340,000 Active 217 DOM
4. 2026-06-15
   days on market $340,000 Active 215 DOM
5. 2026-06-13
   days on market $340,000 Active 213 DOM
6. 2026-06-13
   days on market $340,000 Active 212 DOM
7. 2026-06-10
   days on market $340,000 Active 210 DOM
8. 2026-06-09
   days on market $340,000 Active 209 DOM
9. 2026-06-08
   days on market $340,000 Active 208 DOM
10. 2026-06-07
    days on market $340,000 Active 207 DOM
11. 2026-06-05
    days on market $340,000 Active 204 DOM
12. 2026-06-03
    days on market $340,000 Active 203 DOM
13. 2026-06-02
    days on market $340,000 Active 202 DOM
14. 2026-06-01
    days on market $340,000 Active 201 DOM
15. 2026-05-31
    days on market $340,000 Active 200 DOM
16. 2025-11-12
    listed $340,000 Active 244-char remark

    Show marketing remark (244 chars)

    Affordable 2 bedroom Fee Simple condominium in convenient Makiki location. Close to schools, restaurants, Ala Moana Center, Walmart, Don Quijote and on the bus line. Easy access to freeway on ramps. Includes one covered, assigned parking stall.

17. 1985-10-08
    soldstatus $90,000
18. 1985-10-01
    soldstatus $90,000
19. 1979-01-08
    soldstatus $63,000
20. 1979-01-01
    soldstatus $63,000
21. 1979-01-01
    soldstatus $61,800

ⓘ 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: $37,807
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,025
• − Management: −$3,025
• − HOA: −$8,040
• − Depreciation: −$9,891
• Taxable loss: −$12,018
• Est. tax savings @ 24.0%: +$2,884
• After-tax cash flow: $-3,484/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

+439.7% since first listed

6 events — show timeline

• 2025-11-12 Listed $340,000 HiCentral MLS
• 1985-10-08 Sold (Public Records) $90,000 Public Records
• 1985-10-01 Sold (Public Records) $90,000 Public Records
• 1979-01-08 Sold (Public Records) $63,000 Public Records
• 1979-01-01 Sold (Public Records) $61,800 Public Records
• 1979-01-01 Sold (Public Records) $63,000 Public Records

Property tax history

-2.1%/yr

Latest (2022): $635 · -49.0% YoY. Source: county tax records.