2015 Wilder Ave Unit 2E · Urban Honolulu, HI 96822

$399,000

2 bd · 1.0 ba · 684 sqft · Condo public records · 251 Days on market

Built 1969 $415/mo HOA · 13% of rent

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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 +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Fully remodeled and ready to move-in! This corner unit at Hale Mahiai is located on the backside of the building for added privacy from busy Wilder and conveniently located right next to the building staircase. Inside you’ll find brand-new flooring, paint, overhead lights/fans, toilet, vanity, closet doors, and appliances, alongside re-glazed tub shower, and so much more! Hale Mahiai is a small walk-up building, centrally located right near Punahou School, and just a short distance from UH, Mid-Pac, Kapiolani Hospital and other schools/attractions. Wilder Avenue gives quick access to the freeway in both directions and Waikiki via McCully Street. It’s a highly desirable place t

Key facts

• Added privacy
• Brand new appliances
• Brand new flooring

Tags

• CORNER UNIT
• ADDED PRIVACY
• BRAND NEW FLOORING
• BRAND NEW PAINT
• BRAND NEW APPLIANCES
• RE GLAZED TUB SHOWER

Property features AI

Finance

• HOA & community: Association fees include water and sewer; Maintenance expense: $415.22

Exterior

• Parking: Assigned covered parking (one space)
• Security: Closed-circuit cameras; Key card entry
• Home design: One-story building; Entry level: 2; Excellent condition, updated/remodeled
• Construction: Hollow tile and concrete construction; Effective year built 2025
• Exterior features: Fee simple land tenure; Zoned R-5 Residential District

Interior

• Bedrooms: Bedroom located on the main level
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom
• Interior features: Unfurnished; End unit; Bedroom on main level; Full bath on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $345k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (21.9% below list).
• Recommended offer: $312k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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 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 rising fast (+5.3%/yr); 177 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $14k of equity ($3k loan paydown + $11k 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 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $51k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $311,773 (21.9% 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 251 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — 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: 0.78% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.7%
• Equity multiple: 1.27×
• Total profit: $30,182
• Equity at exit: $172,910

10-year hold

• IRR: 9.1%
• Equity multiple: 2.38×
• Total profit: $154,611
• Equity at exit: $261,530

Cash invested: $111,720 (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: 177
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $3,118 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$94 /mo · $1,122/yr
• Insurance: −$166
• HOA: −$415
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $-304

Break-even live

Break-even rent $3,503

Max offer price $345,265

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,950	$6.86	3d	1	0.52mi
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,050	$5.30	23d	1	0.52mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,735	$6.58	23d	1	0.59mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	23d	3	0.65mi
2710 Kaaha St Honolulu, HI	1.0	1.0	418	$3,300	$7.89	23d	1	0.75mi
2333 Kapiolani Blvd Unit 1008B Honolulu, HI	2.0	1.0	600	$2,700	$4.50	23d	1	0.78mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	21d	1	0.79mi
555 University Ave Honolulu, HI	1.0	1.0	684	$2,850	$4.17	3d	2	0.83mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	21d	1	0.84mi
500 University Ave Honolulu, HI	1.0–2.0	1.0–2.5	826	$3,200	$3.87	11d	3	0.84mi
2499 Kapiolani Blvd Honolulu, HI	1.0	1.0	474	$2,675	$5.64	17d	2	0.85mi
2499 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–1.5	575	$3,300	$5.74	10d	2	0.85mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	3d	1	0.87mi
2499 Kapiolani Blvd #3800 Honolulu, HI	2.0	1.5	676	$3,200	$4.73	3d	1	0.88mi
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	23d	1	0.89mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	43d	1	0.92mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	17d	1	0.92mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	17d	1	0.92mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	23d	1	0.92mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	23d	1	0.92mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	23d	1	0.92mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	20d	1	0.92mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$3,000	$3.76	21d	3	0.95mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$3,000	$3.51	23d	2	0.95mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	20d	1	0.98mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	11d	1	0.99mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	2d	2	1.01mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	43d	2	1.01mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	17d	2	1.01mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	11d	1	1.02mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	2d	1	1.02mi
425 Ena Rd Unit 204C Honolulu, HI	1.0	1.0	600	$2,700	$4.50	23d	1	1.03mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	11d	1	1.04mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	16d	1	1.05mi
419A Atkinson Dr Honolulu, HI	2.0	1.0	664	$2,698	$4.06	17d	2	1.05mi
411 Hobron Ln Honolulu, HI	1.0	1.0	566	$3,575	$6.31	43d	2	1.05mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,475	$6.04	44d	3	1.05mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,322	$5.78	3d	4	1.05mi
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	2d	1	1.06mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,200	$4.17	21d	2	1.07mi

HOA detail condo

• Monthly dues: $415 · $4,980/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $399,000 Active 251 DOM
2. 2026-06-17
   days on market $399,000 Active 250 DOM
3. 2026-06-15
   days on market $399,000 Active 248 DOM
4. 2026-06-13
   days on market $399,000 Active 246 DOM
5. 2026-06-13
   days on market $399,000 Active 245 DOM
6. 2026-06-10
   days on market $399,000 Active 243 DOM
7. 2026-06-09
   days on market $399,000 Active 242 DOM
8. 2026-06-08
   days on market $399,000 Active 241 DOM
9. 2026-06-07
   days on market $399,000 Active 240 DOM
10. 2026-06-05
    days on market $399,000 Active 237 DOM
11. 2026-06-03
    days on market $399,000 Active 236 DOM
12. 2026-06-02
    days on market $399,000 Active 235 DOM
13. 2026-06-01
    days on market $399,000 Active 234 DOM
14. 2026-05-31
    days on market $399,000 Active 233 DOM
15. 2026-05-15
    status Active
16. 2026-03-12
    historical Active Under Contract
17. 2026-03-04
    price $399,000
18. 2025-10-28
    price $425,000
19. 2025-10-10
    listed $450,000 Active
20. 1994-02-04
    soldstatus $1,007,000
21. 1994-02-04
    soldstatus $53,000
22. 1986-01-13
    soldstatus $59,200
23. 1981-04-01
    soldstatus $11,200

ⓘ 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: $1,122 · $94/mo
• Projected year-2 tax: $1,122 · $94/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $37,413
• − Mortgage interest: −$22,350
• − Property taxes: −$1,122
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,993
• − Management: −$2,993
• − HOA: −$4,980
• − Depreciation: −$11,607
• Taxable loss: −$10,628
• Est. tax savings @ 24.0%: +$2,551
• After-tax cash flow: $-1,099/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

+3462.5% since first listed

9 events — show timeline

• 2026-05-15 Relisted — HiCentral MLS
• 2026-03-12 Contingent — HiCentral MLS
• 2026-03-04 Price Changed $399,000 HiCentral MLS
• 2025-10-28 Price Changed $425,000 HiCentral MLS
• 2025-10-10 Listed $450,000 HiCentral MLS
• 1994-02-04 Sold (Public Records) $53,000 Public Records
• 1994-02-04 Sold (Public Records) $1,007,000 Public Records
• 1986-01-13 Sold (Public Records) $59,200 Public Records
• 1981-04-01 Sold (Public Records) $11,200 Public Records

Property tax history

+1.5%/yr

Latest (2022): $1,122 · -1.3% YoY. Source: county tax records.