1720 Ala Moana Blvd Unit 407A · Urban Honolulu, HI 96815

$169,000

2 bd · 1.0 ba · 898 sqft · Other · 50 Days on market

Built 1961 1,048 sqft lot $188/sqft · 41% below area Est $287k · 41% under $1544/mo HOA · 43% of rent ↓ 3% since listing

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Why this score? — see what drove the B- 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 +17.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +6.4/10.0
• DSCR +5.5/10.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

BACK ON THE MARKET! LOWEST 2 BEDROOM AT TRADEWINDS HOTEL INC. This unit was extensively updated in 2023 included an updated kitchen with stainless steel appliances and quarts countertops and new countertops, new flooring, new paint, newly painted doors, new hardware. The open-concept design makes the living area feel open and spacious. The lanai spans the width of the unit with dual access from either bedroom and has preinstalled storm shutters for protecting during storms. The bedrooms have floor to ceiling jalousie windows and lanai doors for optimum light and view of the greenery. The building offers community laundry on both buildings, bike storage, moped parking, and a salt water poo

Key facts

• $1,544 HOA
• Community pool
• Built 1961

Property features AI

Finance

• Financial info: Total rent (multi-unit): $2,700; Maintenance expense (multi-unit): $1,188.34; Lease amount: $355.97; Lease expires: 2040-12-31; Assessed value: $366,400; Tax year: 2026; Zoned X2 - Apartment Precinct
• HOA & community: Association fee $356 per period; Association covers common areas, cable TV, electricity, hot water, internet, sewer, taxes, and water; Community amenities: barbecue, deck/porch, patio, pool, storage facilities, trash chute, gated

Exterior

• Security: Gated community; Security guard
• Utilities: Common area utilities included in association fees (water, sewer, electricity, hot water); Cable TV and internet included in association fees
• Home design: Apartment (Tradewinds Hotel Inc); Located on entry level 4; Leasehold
• Construction: Brick construction; Built/updated in 2023
• Exterior features: Gated community; Security guard; Fenced with wall

Interior

• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; Vinyl flooring; Updated/Remodeled; Good condition; Has a view
• Laundry & utility: On-site laundry facilities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $169k.

Deal economics

• At list price, monthly cash flow is $-289 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (24.8% below list).
• Meets the 1% rule at list price ($4k rent vs $169k).
• Recommended offer: $127k (24.8% below list) — sets the bar for cash-flow.
• Cap rate 7.3% 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 B — 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 (+6.0%/yr); 814 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).
• At $3,606/mo this rent would consume 56% of the median local household income ($77k/yr) (locally 2422% 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 $6k of equity ($1k loan paydown + $5k 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 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 43% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,110 (24.8% 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 50 days. Have you received any prior offers? Is the seller open to a 25% 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.13% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 3.9

CMA / ARV

• ARV (median comp): $286,907
• List price: $169,000
• Delta: -41.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.26×
• Total profit: $12,109
• Equity at exit: $73,555

10-year hold

• IRR: 11.6%
• Equity multiple: 2.95×
• Total profit: $92,370
• Equity at exit: $111,499

Cash invested: $47,320 (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 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 814
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $3,606 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,544
• Vacancy / Maint / Mgmt: −$757
• Net cashflow: $-289

Break-even live

Break-even rent $3,973

Max offer price $127,110

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1778 Ala Moana Blvd Unit 1541754P Honolulu, HI	1.0	1.0	721	$4,387	$6.08	14d	1	0.04mi
1778 Ala Moana Blvd #1307 Honolulu, HI	1.0	1.0	683	$2,900	$4.25	23d	1	0.07mi
1778 Ala Moana Blvd #1219 Honolulu, HI	1.0	1.0	724	$4,600	$6.35	23d	1	0.07mi
1778 Ala Moana Blvd #1317 Honolulu, HI	1.0	1.0	683	$2,775	$4.06	21d	1	0.07mi
1778 Ala Moana Blvd #1002 Honolulu, HI	1.0	1.0	769	$2,800	$3.64	23d	1	0.07mi
1778 Ala Moana Blvd #3318 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	3d	1	0.07mi
1778 Ala Moana Blvd #2606 Honolulu, HI	1.0	1.0	724	$2,895	$4.00	3d	1	0.07mi
1778 Ala Moana Blvd #801 Honolulu, HI	1.0	1.0	724	$3,400	$4.70	23d	1	0.07mi
1676 Ala Moana Blvd Honolulu, HI	2.0	1.5	801	$3,350	$4.18	3d	2	0.09mi
343 Hobron Ln Honolulu, HI	2.0	2.0–2.5	1282	$4,825	$3.76	16d	2	0.10mi
343 Hobron Ln Honolulu, HI	2.0	2.0–2.5	1301	$4,575	$3.52	43d	2	0.10mi
343 Hobron Ln Honolulu, HI	2.0	2.0–2.5	1365	$4,800	$3.52	14d	2	0.10mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.5–2.5	1220	$5,750	$4.71	19d	4	0.10mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.5–2.5	1220	$5,750	$4.71	23d	4	0.10mi
343 Hobron Ln Unit 1327706P Honolulu, HI	2.0	2.0	947	$4,437	$4.69	11d	1	0.11mi
1810 Kaioo Dr Unit B310 Honolulu, HI	2.0	2.0	837	$3,200	$3.82	23d	1	0.11mi
1551 Ala Wai Blvd Unit 1327707P Honolulu, HI	2.0	2.0	1108	$5,868	$5.30	2d	1	0.11mi
1551 Ala Wai Blvd Honolulu, HI	2.0	2.0–3.0	1140	$5,750	$5.04	16d	6	0.11mi
1804 Ala Moana Blvd Unit 15A Honolulu, HI	2.0	2.0	959	$3,375	$3.52	3d	1	0.13mi
1800 Kaioo Dr Honolulu, HI	2.0	2.0	837	$3,295	$3.94	10d	1	0.14mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,322	$5.78	3d	4	0.16mi
411 Hobron Ln Honolulu, HI	1.0	1.0	566	$3,575	$6.31	43d	2	0.16mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,475	$6.04	44d	3	0.16mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	11d	1	0.17mi
1645 Ala Wai Blvd #1002 Honolulu, HI	2.0	1.5	1000	$3,400	$3.40	16d	1	0.19mi
419A Atkinson Dr Honolulu, HI	2.0	1.0	664	$2,698	$4.06	17d	2	0.19mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	16d	1	0.19mi
1650 Ala Moana Blvd #1611 Honolulu, HI	1.0	1.0	930	$3,100	$3.33	3d	1	0.21mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	11d	1	0.21mi
425 Ena Rd Unit 204C Honolulu, HI	1.0	1.0	600	$2,700	$4.50	23d	1	0.23mi
1910 Ala Moana Blvd Honolulu, HI	2.0	2.0	1238	$4,975	$4.02	3d	2	0.25mi
1717 Ala Wai Blvd Honolulu, HI	2.0–3.0	2.0	1026	$2,750	$2.68	3d	2	0.26mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$3,000	$3.51	23d	2	0.27mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$3,000	$3.76	21d	3	0.27mi
1717 Ala Wai Blvd Honolulu, HI	2.0	2.0	922	$3,350	$3.63	44d	1	0.27mi
469 Ena Rd Honolulu, HI	2.0–3.0	2.0–3.0	1098	$2,990	$2.72	3d	4	0.30mi
469 Ena Rd Honolulu, HI	2.0–3.0	2.0–3.0	1098	$3,000	$2.73	17d	3	0.30mi
1837 Kalakaua Ave Honolulu, HI	2.0	2.0	1004	$4,850	$4.83	3d	3	0.31mi
1631 Kapiolani Blvd #3511 Honolulu, HI	2.0	2.0	895	$3,750	$4.19	43d	1	0.36mi
1631 Kapiolani Blvd #3301 Honolulu, HI	2.0	2.0	892	$3,675	$4.12	3d	1	0.36mi

HOA detail

• Monthly dues: $1,544 · $18,528/yr
• Likely covers: water

Listing history 39 events

1. 2026-06-18
   days on market $169,000 Active 50 DOM
2. 2026-06-17
   days on market $169,000 Active 49 DOM
3. 2026-06-16
   days on market $169,000 Active 48 DOM
4. 2026-06-15
   days on market $169,000 Active 47 DOM
5. 2026-06-13
   days on market $169,000 Active 45 DOM
6. 2026-06-13
   days on market $169,000 Active 44 DOM
7. 2026-06-10
   days on market $169,000 Active 42 DOM
8. 2026-06-09
   days on market $169,000 Active 41 DOM
9. 2026-06-08
   days on market $169,000 Active 40 DOM
10. 2026-06-07
    days on market $169,000 Active 39 DOM
11. 2026-06-05
    days on market $169,000 Active 36 DOM
12. 2026-06-03
    days on market $169,000 Active 35 DOM
13. 2026-06-02
    days on market $169,000 Active 34 DOM
14. 2026-06-01
    days on market $169,000 Active 33 DOM
15. 2026-05-31
    days on market $169,000 Active 32 DOM
16. 2026-05-13
    price $169,000 888-char remark
17. 2026-04-29
    listed $180,000 Active 888-char remark
18. 2026-03-31
    historical
19. 2026-01-22
    listed $180,000 Active
20. 2025-08-31
    historical
21. 2025-05-26
    price $189,888
22. 2025-03-26
    price $199,888
23. 2025-02-24
    price $212,500
24. 2025-02-14
    listed $215,000 Active
25. 2025-02-09
    historical
26. 2025-01-13
    price $215,000
27. 2024-12-09
    price $220,000
28. 2024-11-26
    price $225,000
29. 2024-11-14
    listed $230,000 Active
30. 2024-07-15
    historical $2,900
31. 2024-07-03
    price $2,900
32. 2024-06-20
    listed $2,600
33. 2023-12-04
    soldstatus $220,000 Sold
34. 2023-09-23
    price $239,000
35. 2023-09-08
    price $258,000
36. 2023-08-08
    listed $268,000 Active
37. 2022-10-26
    soldstatus $140,000 Sold
38. 2022-08-01
    price $165,000
39. 2022-04-27
    listed $175,000 Active

ⓘ 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 AE · 82% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $43,275
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$5,964
• − Repairs & maintenance: −$3,462
• − Management: −$3,462
• − HOA: −$18,528
• − Depreciation: −$4,916
• Taxable loss: −$5,058
• Est. tax savings @ 24.0%: +$1,214
• After-tax cash flow: $-2,260/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): 27,530
• Household income: $77,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 2422.0

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 0.71)
• 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%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 30% · China, South Korea, Canada
• Languages at home: 66% English-only · Other Asian/Pacific 15% Chinese 5% 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: ▲ 2.74%
• Current HPI: 291.9404
• Rent YoY: ▲ 6.00%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-3.4% since first listed

24 events — show timeline

• 2026-05-13 Price Changed $169,000 HiCentral MLS
• 2026-04-29 Listed $180,000 HiCentral MLS
• 2026-03-31 Listing Removed — HiCentral MLS
• 2026-01-22 Listed $180,000 HiCentral MLS
• 2025-08-31 Listing Removed — HiCentral MLS
• 2025-05-26 Price Changed $189,888 HiCentral MLS
• 2025-03-26 Price Changed $199,888 HiCentral MLS
• 2025-02-24 Price Changed $212,500 HiCentral MLS
• 2025-02-14 Listed $215,000 HiCentral MLS
• 2025-02-09 Listing Removed — HiCentral MLS
• 2025-01-13 Price Changed $215,000 HiCentral MLS
• 2024-12-09 Price Changed $220,000 HiCentral MLS
• 2024-11-26 Price Changed $225,000 HiCentral MLS
• 2024-11-14 Listed $230,000 HiCentral MLS
• 2024-07-15 Rental Removed $2,900 BUILDIUM
• 2024-07-03 Price Changed $2,900 BUILDIUM
• 2024-06-20 Listed for Rent $2,600 BUILDIUM
• 2023-12-04 Sold (MLS) $220,000 HiCentral MLS
• 2023-09-23 Price Changed $239,000 HiCentral MLS
• 2023-09-08 Price Changed $258,000 HiCentral MLS
• 2023-08-08 Listed $268,000 HiCentral MLS
• 2022-10-26 Sold (MLS) $140,000 HiCentral MLS
• 2022-08-01 Price Changed $165,000 HiCentral MLS
• 2022-04-27 Listed $175,000 HiCentral MLS