756 Iaukea St · Urban Honolulu, HI 96813

$450,000

3 bd · 1.5 ba · 864 sqft · SingleFamily public records · 32 Days on market

Built 1980 7,500 sqft lot $521/sqft · 57% below area ↓ 18% since listing

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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 +12.3/30.0
• ARV discount +7.5/15.0
• Appreciation +4.6/10.0
• DSCR +3.7/10.0
• Schools +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Papakolea Hawaiian Homeland leasehold property. TEAR DOWN. LOOKING FOR A CASH BUYER. Large upslope property with views of mountain, city and ocean. SHOWN BY APPOINTMENT ONLY. DO NOT ENTER PROPERTY WITHOUT LISTING AGENT PRESENT. Buyer must be atleast 50% Hawaiian and active on the Hawaiian Home Lands Wait List.

Key facts

• Views of ocean
• Views of city
• Upslope property

Tags

• UPSLOPE PROPERTY
• VIEWS OF MOUNTAIN
• VIEWS OF CITY
• VIEWS OF OCEAN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $429k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $383k (14.8% below list).
• Recommended offer: $383k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 flat; 201 active listings in the ZIP; 28 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).
• At $3,834/mo this rent would consume 50% of the median local household income ($92k/yr) (locally 1338% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $3k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 32 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $383,362 (14.8% 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 32 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (median comp): $1,038,237
• List price: $450,000
• Delta: -56.66%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-0.73% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.63×
• Total profit: $-46,587
• Equity at exit: $114,516

10-year hold

• IRR: -4.0%
• Equity multiple: 0.64×
• Total profit: $-44,792
• Equity at exit: $125,347

Cash invested: $126,000 (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 96813

• Home prices YoY: -0.3%
• Rents YoY: 0.6%
• Active inventory: 201
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,834 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$805
• Net cashflow: $-148

Break-even live

Break-even rent $4,021

Max offer price $428,621

Occupancy floor 99%

Sensitivity live

Price	-10% $163	-5% $8	+0% $-148	+5% $-303	+10% $-459
Rent	-10% $-451	-5% $-299	+0% $-148	+5% $4	+10% $155
Rate	-1.0pp $79	-0.5pp $-33	base $-148	+0.5pp $-264	+1.0pp $-383

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1214 Nehoa St Unit A Honolulu, HI	2.0	1.0	912	$3,500	$3.84	44d	1	0.46mi
2022 Leiloke Dr Honolulu, HI	3.0	1.5	868	$3,800	$4.38	44d	1	0.54mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	24d	1	0.69mi
225 Auwaiolimu St Honolulu, HI	3.0	1.0	710	$3,800	$5.35	18d	1	0.73mi
2847 Booth Rd Unit B4 Honolulu, HI	3.0	1.0	803	$2,745	$3.42	24d	1	0.75mi
1617 Keeaumoku St #401 Honolulu, HI	2.0	1.5	773	$3,000	$3.88	18d	1	0.78mi
2047 Nuuanu Ave #1203 Honolulu, HI	2.0	2.0	1037	$3,400	$3.28	18d	1	0.91mi
1415 Victoria St Honolulu, HI	2.0	1.0	1000	$3,850	$3.85	44d	1	0.96mi
1221 Victoria St Honolulu, HI	1.0–2.0	1.0–2.0	1207	$3,675	$3.04	12d	2	1.07mi
2558 Ferdinand Ave Honolulu, HI	2.0	2.0	776	$4,000	$5.15	4d	1	1.18mi
1314 Kalakaua Ave #1202 Honolulu, HI	2.0	2.0	832	$5,000	$6.01	21d	1	1.18mi
1314 Kalakaua Ave #407 Honolulu, HI	2.0	1.0	772	$4,800	$6.22	44d	1	1.18mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	24d	3	1.18mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	802	$4,900	$6.11	4d	2	1.18mi
1634 Nuuanu Ave #207 Honolulu, HI	2.0	2.0	924	$2,795	$3.02	24d	1	1.19mi
1114 Punahou St Unit 9A Honolulu, HI	3.0	2.0	1037	$3,600	$3.47	18d	1	1.20mi
1515 Liona St Unit 4401L Honolulu, HI	2.0	2.0	990	$4,900	$4.95	44d	1	1.32mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	18d	1	1.32mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	15d	1	1.32mi
1267 Rycroft St Honolulu, HI	2.0	1.0	816	$2,750	$3.37	24d	1	1.38mi
1500 Rycroft St Unit 4419R Honolulu, HI	2.0	2.0	1074	$6,000	$5.59	44d	1	1.38mi
1500 Rycroft St Unit 4116R Honolulu, HI	2.0	2.0	872	$5,000	$5.73	24d	1	1.38mi
1500 Rycroft St Unit 800R Honolulu, HI	2.0	2.0	942	$4,700	$4.99	44d	1	1.38mi
1500 Rycroft St Unit 2519R Honolulu, HI	2.0	2.0	1074	$5,300	$4.93	44d	1	1.38mi
1255 Nuuanu Ave Unit KPE3001 Honolulu, HI	2.0	1.0	888	$3,100	$3.49	4d	1	1.47mi
1212 Nuuanu Ave Honolulu, HI	1.0–2.0	1.0–2.0	833	$3,400	$4.08	12d	2	1.50mi
1212 Nuuanu Ave Honolulu, HI	1.0–2.0	1.0–2.0	838	$4,000	$4.77	24d	2	1.50mi
801 South St #4524 Honolulu, HI	2.0	1.5	840	$3,500	$4.17	44d	1	1.50mi

Listing history 23 events

1. 2026-06-21
   days on market $450,000 Active 32 DOM
2. 2026-06-18
   days on market $450,000 Active 29 DOM
3. 2026-06-17
   days on market $450,000 Active 28 DOM
4. 2026-06-16
   days on market $450,000 Active 27 DOM
5. 2026-06-15
   days on market $450,000 Active 26 DOM
6. 2026-06-13
   days on market $450,000 Active 24 DOM
7. 2026-06-13
   days on market $450,000 Active 23 DOM
8. 2026-06-10
   days on market $450,000 Active 21 DOM
9. 2026-06-09
   days on market $450,000 Active 20 DOM
10. 2026-06-08
    days on market $450,000 Active 19 DOM
11. 2026-06-07
    days on market $450,000 Active 18 DOM
12. 2026-06-05
    days on market $450,000 Active 15 DOM
13. 2026-06-03
    days on market $450,000 Active 14 DOM
14. 2026-06-02
    days on market $450,000 Active 13 DOM
15. 2026-06-01
    days on market $450,000 Active 12 DOM
16. 2026-05-31
    days on market $450,000 Active 11 DOM
17. 2026-05-20
    listed $450,000 Active 311-char remark

    Show marketing remark (311 chars)

    Papakolea Hawaiian Homeland leasehold property. TEAR DOWN. LOOKING FOR A CASH BUYER. Large upslope property with views of mountain, city and ocean. SHOWN BY APPOINTMENT ONLY. DO NOT ENTER PROPERTY WITHOUT LISTING AGENT PRESENT. Buyer must be atleast 50% Hawaiian and active on the Hawaiian Home Lands Wait List.

18. 2026-05-19
    historical
19. 2026-02-12
    price $450,000
20. 2025-05-20
    listed $500,000 Active
21. 2025-05-18
    historical
22. 2024-10-12
    price $500,000
23. 2024-05-19
    listed $550,000 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $46,003
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$3,048
• − Repairs & maintenance: −$3,680
• − Management: −$3,680
• − Depreciation: −$13,091
• Taxable loss: −$9,453
• Est. tax savings @ 24.0%: +$2,269
• After-tax cash flow: $496/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): 26,766
• Household income: $91,690
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 1338.0

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 0.74)
• Race & ethnicity: Asian 48% Two or more races 21% White 15% Pacific Islander 9% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Russian 2% Romanian 1% Lithuanian 1%
• Foreign-born: 23% · South Korea, China, Vietnam
• Languages at home: 72% English-only · Other Asian/Pacific 10% Chinese 7% Korean 5%

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: ▼ -0.73%
• Current HPI: 231.8414
• Rent YoY: ▲ 0.63%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-18.2% since first listed

7 events — show timeline

• 2026-05-20 Listed $450,000 HiCentral MLS
• 2026-05-19 Listing Removed — HiCentral MLS
• 2026-02-12 Price Changed $450,000 HiCentral MLS
• 2025-05-20 Listed $500,000 HiCentral MLS
• 2025-05-18 Listing Removed — HiCentral MLS
• 2024-10-12 Price Changed $500,000 HiCentral MLS
• 2024-05-19 Listed $550,000 HiCentral MLS

Property tax history

+0.0%/yr

Latest (2022): $300 · +0.0% YoY. Source: county tax records.