417 Nohonani St #414 · Urban Honolulu, HI 96815

$90,000

1 bd · 1.0 ba · 490 sqft · Condo public records · 56 Days on market

Built 1959 $919/mo HOA · 42% of rent

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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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Bbq
• Wrap-around lanai
• Laundry room

Tags

• WRAP-AROUND LANAI
• ORIGINAL VANITY NOOK
• INTERIOR SLIDING PANES
• LAUNDRY ROOM
• BBQ
• POOL

Property features AI

Finance

• Financial info: Monthly lease amount: $422.12 (lease expires 2036-02-28); Annual tax noted (for reference): $6,768
• HOA & community: Association fee covers common areas, hot water, sewer, and water; Community amenities include barbecue area, laundry facilities, and pool; Maintenance fee: $919.46

Exterior

• Security: Elevator secured
• Home design: Condominium in the Hawaiian King building; Single-story unit; Entry on level 4; Leasehold property
• Construction: Concrete construction; Built in excellent condition
• Exterior features: Secured elevator; Fenced with wall

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished unit; End unit (common wall only on one side); Laminate flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $59k (34.5% below list).
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $59k (34.5% below list) — sets the bar for cash-flow.
• Cap rate 9.6% 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 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.
• Zoned schools: President Thomas Jefferson Elementary School (math 42% / reading 47%, grade F, #73 of 183 statewide, top 41%, 340 students, 55% 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 59% FRL vs 39% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 813 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $2k appreciation (2.7% local appreciation)).
• 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 56 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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: flood insurance adds $427/mo; HOA is 42% of rent; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,955 (34.5% 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 56 days. Have you received any prior offers? Is the seller open to a 34% 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'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. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.43% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.0%
• Equity multiple: 1.24×
• Total profit: $6,039
• Equity at exit: $39,171

10-year hold

• IRR: 11.8%
• Equity multiple: 3.03×
• Total profit: $51,231
• Equity at exit: $59,378

Cash invested: $25,200 (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 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 813
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,184 high
• Mortgage (P&I): −$472
• Tax from tax record: −$46 /mo · $553/yr
• Insurance: −$38
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$919
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-176

Break-even live

Break-even rent $2,406

Max offer price $58,955

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-150	+0% $-176	+5% $-201	+10% $-227
Rent	-10% $-348	-5% $-262	+0% $-176	+5% $-89	+10% $-3
Rate	-1.0pp $-130	-0.5pp $-153	base $-176	+0.5pp $-199	+1.0pp $-223

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Kaiulani Ave Honolulu, HI	3.0	1.0	656	$3,088	$4.71	25d	8	0.21mi
242 Kaʻiulani Ave Unit 4 Honolulu, HI	—	1.0	253	$1,200	$4.74	25d	1	0.21mi
242 Kaiulani Ave Honolulu, HI	—	1.0	253	$1,250	$4.94	25d	1	0.21mi
2442 Tusitala St Apt 103 Honolulu, HI	—	1.0	300	$1,900	$6.33	45d	1	0.31mi
249 Kapili St Unit 1 Honolulu, HI	—	1.0	290	$1,350	$4.66	23d	1	0.33mi
249 Kapili St #101 Honolulu, HI	—	1.0	225	$1,500	$6.67	25d	1	0.34mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	3d	1	0.41mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	13d	1	0.41mi
2509 Ala Wai Blvd Honolulu, HI	—	1.0	215	$1,725	$8.02	25d	2	0.42mi
2509 Ala Wai Blvd #503 Honolulu, HI	—	1.0	215	$1,750	$8.14	5d	1	0.42mi
234 Ohua Ave #217 Honolulu, HI	—	1.0	257	$1,550	$6.03	25d	1	0.43mi
300 Wai Nani Way Unit 1808 Honolulu, HI	—	1.0	321	$1,700	$5.30	45d	1	0.52mi
2572 Lemon Rd Honolulu, HI	1.0	1.0	398	$2,597	$6.53	5d	3	0.60mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	25d	1	0.80mi
234 Hua AVE Unit 103 Honolulu, HI	—	1.0	257	$1,550	$6.03	5d	1	0.85mi

HOA detail condo

• Monthly dues: $919 · $11,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $90,000 Active 56 DOM
2. 2026-06-18
   days on market $90,000 Active 53 DOM
3. 2026-06-17
   days on market $90,000 Active 52 DOM
4. 2026-06-16
   days on market $90,000 Active 51 DOM
5. 2026-06-15
   days on market $90,000 Active 50 DOM
6. 2026-06-13
   days on market $90,000 Active 48 DOM
7. 2026-06-13
   days on market $90,000 Active 47 DOM
8. 2026-06-10
   days on market $90,000 Active 45 DOM
9. 2026-06-09
   days on market $90,000 Active 44 DOM
10. 2026-06-08
    days on market $90,000 Active 43 DOM
11. 2026-06-07
    days on market $90,000 Active 42 DOM
12. 2026-06-05
    days on market $90,000 Active 39 DOM
13. 2026-06-03
    days on market $90,000 Active 38 DOM
14. 2026-06-02
    days on market $90,000 Active 37 DOM
15. 2026-06-01
    days on market $90,000 Active 36 DOM
16. 2026-05-31
    days on market $90,000 Active 35 DOM
17. 2026-04-26
    listed $90,000 Active 489-char remark
18. 2025-12-04
    historical
19. 2025-04-17
    listed $95,000 Active
20. 2023-02-10
    historical
21. 2023-01-10
    listed $90,000 Active
22. 2012-02-03
    soldstatus $2,355,200
23. 1994-06-16
    soldstatus $8,955,100
24. 1981-06-01
    soldstatus $69,500
25. 1981-05-01
    soldstatus $20,500

ⓘ 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: $553 · $46/mo
• Projected year-2 tax: $553 · $46/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 6/10 Major FEMA zone AE · 75% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $26,208
• − Mortgage interest: −$5,041
• − Property taxes: −$553
• − Insurance: −$5,568
• − Repairs & maintenance: −$2,097
• − Management: −$2,097
• − HOA: −$11,028
• − Depreciation: −$2,618
• Taxable loss: −$2,794
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $-1,438/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

+339.0% since first listed

9 events — show timeline

• 2026-04-26 Listed $90,000 HiCentral MLS
• 2025-12-04 Listing Removed — HiCentral MLS
• 2025-04-17 Listed $95,000 HiCentral MLS
• 2023-02-10 Listing Removed — HiCentral MLS
• 2023-01-10 Listed $90,000 HiCentral MLS
• 2012-02-03 Sold (Public Records) $2,355,200 Public Records
• 1994-06-16 Sold (Public Records) $8,955,100 Public Records
• 1981-06-01 Sold (Public Records) $69,500 Public Records
• 1981-05-01 Sold (Public Records) $20,500 Public Records

Property tax history

+4.9%/yr

Latest (2022): $553 · +1.3% YoY. Source: county tax records.