425 Ena Rd Unit B1105 · Urban Honolulu, HI 96815

$84,500

1 bd · 1.0 ba · 500 sqft · Condo · 388 Days on market

Built 1958 Fair condition $169/sqft · 12% below area Est $96k · 12% under $744/mo HOA · 25% of rent ↓ 39% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +13.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.4/10.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Enjoy urban convenience in this bright and breezy 1-bedroom, 1-bath unit at the Kalia — ideally located at the entrance of Waikiki! This well-maintained leasehold unit features beautifully landscaped gardens, a heated pool, BBQ area, and secured entry with 24-hour security. Conveniently located near beaches, shopping, restaurants, and bus lines. Lease expires 2048. The maintenance fee includes property tax, electricity, water, sewer, and other common expenses. Tenant-occupied, please do not disturb. Showings by appointment only.

Key facts

• Landscaped gardens
• 24-hour security
• Bbq area

Tags

• LANDSCAPED GARDENS
• HEATED POOL
• BBQ AREA
• SECURED ENTRY
• 24-HOUR SECURITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $84k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 1.6% 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 A — 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); 1144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 119d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($584 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.
• At projected returns (2.7% appreciation + 6.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 388 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $14k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 388 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1958 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.58% ✓
• Cap rate: 21.34%
• Cash-on-cash: 53.75%
• DSCR: 3.39
• GRM: 2.3

CMA / ARV

• ARV (median comp): $96,265
• List price: $84,500
• Delta: -12.22%
• 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
1777 Ala Moana Blvd #1319	0.26mi	1/1.0	500 (0%)	0mo	$529,000	$1,058	88
444 Niu St #3706	0.18mi	1/2.0	532 (+6%)	0mo	$501,000	$942	77
444 Niu St #3704	0.18mi	2/2.0 (+1)	476 (-5%)	0mo	$511,160	$1,074	74
411 Hobron Ln #2509	0.07mi	1/1.0	568 (+14%)	0mo	$400,000	$704	74
1655 Makaloa St #2203	0.44mi	1/1.0	484 (-3%)	0mo	$189,000	$390	74
1750 Kalakaua Ave #802	0.35mi	1/1.0	390 (-22%)	0mo	$220,000	$564	58
417 Nohonani St #513	0.75mi	1/1.0	468 (-6%)	0mo	$60,000	$128	54
417 Nohonani St #311	0.75mi	1/1.0	468 (-6%)	0mo	$60,000	$128	54
201 Ohua Ave Unit T2-3604	1.22mi	1/1.0	533 (+7%)	0mo	$870,000	$1,632	54
247 Beach Walk #803	0.52mi	1/1.0	574 (+15%)	0mo	$535,000	$932	51
2211 Ala Wai Blvd #1511	0.61mi	1/1.0	413 (-17%)	0mo	$295,000	$714	46
1025 Kalo Pl #804	1.05mi	1/1.0	390 (-22%)	0mo	$245,000	$628	40

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

Projected returns pro-forma

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

5-year hold

• IRR: 59.6%
• Equity multiple: 4.48×
• Total profit: $82,242
• Equity at exit: $36,777

10-year hold

• IRR: 61.3%
• Equity multiple: 10.38×
• Total profit: $222,047
• Equity at exit: $55,749

Cash invested: $23,660 (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: 6 active · 11 under contract
• Median asking: $454,000 ($809/sqft)
• Median days on market: 98 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -76.2% vs current asking $/sqft

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

ZIP-level market 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 1144
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $3,022 high
• Mortgage (P&I): −$443
• Tax est. 1.5%: −$106 /mo · $1,268/yr
• Insurance: −$35
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$744
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $993

Break-even live

Break-even rent $1,765

Max offer price $84,500

Occupancy floor 62%

Sensitivity live

Price	-10% $1,052	-5% $1,023	+0% $993	+5% $964	+10% $935
Rent	-10% $755	-5% $874	+0% $993	+5% $1,113	+10% $1,232
Rate	-1.0pp $1,036	-0.5pp $1,015	base $993	+0.5pp $971	+1.0pp $949

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: $21,125
• Closing costs: $2,535
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 Ena Rd Unit 204C Honolulu, HI	1.0	1.0	600	$2,700	$4.50	164d	1	0.03mi
1925 Kalakaua Ave Unit 1608459P Honolulu, HI	1.0	1.0	538	$3,821	$7.10	5d	1	0.10mi
1925 Kalakaua Ave #1302 Honolulu, HI	1.0	1.0	538	$3,200	$5.95	138d	1	0.10mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	611	$2,800	$4.58	24d	6	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	611	$2,950	$4.83	19d	5	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,172	$5.52	138d	4	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,475	$6.04	185d	3	0.11mi
411 Hobron Ln Honolulu, HI	1.0	1.0	566	$3,575	$6.31	184d	2	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	578	$2,800	$4.84	14d	3	0.11mi
411 Hobron Ln Honolulu, HI	1.0–2.0	1.0	578	$2,900	$5.02	119d	3	0.11mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	152d	1	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	667	$3,010	$4.51	14d	2	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0–1.5	696	$3,072	$4.41	18d	3	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	696	$3,095	$4.44	24d	2	0.11mi
400 Hobron Ln Honolulu, HI	1.0	1.0	723	$2,998	$4.15	127d	2	0.11mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	152d	1	0.11mi
1850 Ala Moana Blvd Unit 1627734P Honolulu, HI	1.0	1.0	495	$7,574	$15.30	53d	1	0.12mi
343 Hobron Ln Unit 21042104 Honolulu, HI	1.0	1.0	676	$4,950	$7.32	35d	1	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,800	$2.53	103d	3	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,900	$2.62	5d	3	0.15mi
343 Hobron Ln Honolulu, HI	1.0–2.0	1.0–2.5	1107	$2,800	$2.53	15d	4	0.15mi
430 Keoniana St #606 Honolulu, HI	1.0	1.0	643	$2,600	$4.04	138d	1	0.18mi
430 Keoniana St Unit 211211 Honolulu, HI	1.0	1.0	643	$3,500	$5.44	26d	1	0.19mi
1778 Ala Moana Blvd #2606 Honolulu, HI	1.0	1.0	724	$2,895	$4.00	144d	1	0.21mi
1778 Ala Moana Blvd #1219 Honolulu, HI	1.0	1.0	724	$4,600	$6.35	10d	1	0.21mi
1778 Ala Moana Blvd #2618 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	26d	1	0.21mi
1778 Ala Moana Blvd #1307 Honolulu, HI	1.0	1.0	683	$2,900	$4.25	164d	1	0.21mi
1778 Ala Moana Blvd #1313 Honolulu, HI	1.0	1.0	683	$2,700	$3.95	127d	1	0.21mi
1778 Ala Moana Blvd #3318 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	144d	1	0.21mi
1778 Ala Moana Blvd #801 Honolulu, HI	1.0	1.0	724	$3,400	$4.70	164d	1	0.21mi
1778 Ala Moana Blvd #1317 Honolulu, HI	1.0	1.0	683	$2,600	$3.81	133d	1	0.21mi
1778 Ala Moana Blvd #1402 Honolulu, HI	1.0	1.0	683	$3,500	$5.12	26d	1	0.21mi
1778 Ala Moana Blvd Unit 1541754P Honolulu, HI	1.0	1.0	721	$4,387	$6.08	155d	1	0.22mi
439 Keoniana St #201 Honolulu, HI	2.0	2.0	699	$3,300	$4.72	21d	1	0.23mi
2045 Kalakaua Ave Honolulu, HI	1.0	1.0	657	$4,200	$6.39	184d	1	0.24mi
1777 Ala Moana Blvd Unit 1327715P Honolulu, HI	1.0	1.0	495	$5,590	$11.29	184d	1	0.26mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	162d	1	0.27mi
1777 Ala Moana Blvd Honolulu, HI	2.0	1.0–2.0	735	$3,500	$4.76	5d	3	0.28mi
1684 Ala Moana Blvd Honolulu, HI	1.0	1.5–2.0	803	$3,300	$4.11	5d	2	0.29mi
1765 Ala Moana Blvd #1183 Honolulu, HI	1.0	1.0	440	$3,100	$7.05	5d	1	0.30mi

HOA detail $744/mo · $8,928/yr condo

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

Listing history 50 events

1. 2026-11-08
   days on market $84,500 Active 388 DOM
2. 2026-11-07
   days on market $84,500 Active 387 DOM
3. 2026-11-06
   days on market $84,500 Active 386 DOM
4. 2026-11-05
   days on market $84,500 Active 385 DOM
5. 2026-11-04
   days on market $84,500 Active 384 DOM
6. 2026-11-02
   days on market $84,500 Active 382 DOM
7. 2026-11-01
   days on market $84,500 Active 381 DOM
8. 2026-10-31
   days on market $84,500 Active 380 DOM
9. 2026-10-30
   days on market $84,500 Active 379 DOM
10. 2026-10-29
    days on market $84,500 Active 378 DOM
11. 2026-10-28
    days on market $84,500 Active 377 DOM
12. 2026-10-27
    days on market $84,500 Active 376 DOM
13. 2026-10-26
    days on market $84,500 Active 375 DOM
14. 2026-10-26
    days on market $84,500 Active 374 DOM
15. 2026-10-24
    days on market $84,500 Active 373 DOM
16. 2026-10-23
    days on market $84,500 Active 372 DOM
17. 2026-10-22
    days on market $84,500 Active 371 DOM
18. 2026-10-21
    days on market $84,500 Active 370 DOM
19. 2026-10-20
    days on market $84,500 Active 369 DOM
20. 2026-10-19
    days on market $84,500 Active 368 DOM
21. 2026-10-18
    days on market $84,500 Active 367 DOM
22. 2026-10-17
    days on market $84,500 Active 366 DOM
23. 2026-10-16
    days on market $84,500 Active 365 DOM
24. 2026-10-15
    days on market $84,500 Active 364 DOM
25. 2026-10-14
    days on market $84,500 Active 363 DOM
26. 2026-10-13
    days on market $84,500 Active 362 DOM
27. 2026-10-12
    days on market $84,500 Active 361 DOM
28. 2026-10-11
    days on market $84,500 Active 360 DOM
29. 2026-10-10
    days on market $84,500 Active 359 DOM
30. 2026-10-09
    days on market $84,500 Active 358 DOM
31. 2026-10-08
    days on market $84,500 Active 357 DOM
32. 2026-10-07
    days on market $84,500 Active 356 DOM
33. 2026-10-07
    days on market $84,500 Active 355 DOM
34. 2026-10-05
    days on market $84,500 Active 354 DOM
35. 2026-10-04
    days on market $84,500 Active 353 DOM
36. 2026-10-03
    days on market $84,500 Active 352 DOM
37. 2026-10-02
    days on market $84,500 Active 351 DOM
38. 2026-10-01
    days on market $84,500 Active 350 DOM
39. 2026-09-30
    days on market $84,500 Active 349 DOM
40. 2026-09-29
    days on market $84,500 Active 348 DOM
41. 2026-09-27
    days on market $84,500 Active 346 DOM
42. 2026-09-25
    days on market $84,500 Active 344 DOM
43. 2026-09-24
    days on market $84,500 Active 343 DOM
44. 2026-09-22
    days on market $84,500 Active 341 DOM
45. 2026-09-21
    days on market $84,500 Active 340 DOM
46. 2026-09-20
    days on market $84,500 Active 339 DOM
47. 2026-09-19
    days on market $84,500 Active 338 DOM
48. 2026-09-18
    days on market $84,500 Active 337 DOM
49. 2026-09-17
    days on market $84,500 Active 336 DOM
50. 2026-09-16
    days on market $84,500 Active 335 DOM

ⓘ 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 X (unshaded) · 75% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $36,270
• − Mortgage interest: −$4,733
• − Property taxes: −$1,268
• − Insurance: −$1,220
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − HOA: −$8,928
• − Depreciation: −$2,458
• Taxable income: $11,860
• Est. tax owed @ 24.0%: −$2,846
• After-tax cash flow: $9,074/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 · 10 photos

Fair 45/100 Cosmetic rehab Est. rehab $2,500–$7,500 screening

This 1-bedroom, 1-bath unit is in fair condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — The cabinets are simple and could be updated for a more modern look.
• Minor Bathroom fixtures — The fixtures are standard and could be replaced with more modern options.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the unit. ↑
• Both Replace kitchen cabinets — Modernizing the kitchen can significantly enhance the appeal and value of the unit. ↑
• Both Replace bathroom fixtures — Upgrading the bathroom fixtures can improve functionality and aesthetics. ↑

ⓘ 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 37/100

Zoned Schools

Elementary President Thomas Jefferson Elementary School F HI #73/183 Nat'l #16,061/41,679 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): 27,530
• Household income: $77,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 15% 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: 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%
• Languages at home: 66% English-only · Other Asian/Pacific 15% Chinese 5% Korean 3%

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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: ▲ 2.74%
• Current HPI: 291.9404
• Rent YoY: ▲ 6.00%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-39.2% since first listed

11 events — show timeline

• 2026-01-14 Price Changed $84,500 HiCentral MLS
• 2025-12-22 Price Changed $94,500 HiCentral MLS
• 2025-10-16 Listed $99,000 HiCentral MLS
• 2021-06-18 Listing Removed — HiCentral MLS
• 2021-02-01 Listed $119,000 HiCentral MLS
• 1999-10-19 Sold (Public Records) $60,000 Public Records
• 1999-04-16 Listing Removed — HiCentral MLS
• 1998-07-10 Listed $84,500 HiCentral MLS
• 1992-06-30 Sold (Public Records) $50,000 Public Records
• 1990-09-05 Sold (Public Records) $69,500 Public Records
• 1990-09-01 Sold (Public Records) $139,000 Public Records