780 Amana St #408 · Urban Honolulu, HI 96814

$359,000

2 bd · 1.5 ba · 778 sqft · Condo public records · 112 Days on market

Built 1967 $461/sqft · 41% below area $1300/mo HOA · 30% of rent

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Why this score? — see what drove the C- 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 +13.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Appreciation +6.0/10.0
• DSCR +4.1/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss this 2-bed, 1.5-bath residence nestled in the heart of Honolulu’s vibrant Ala Moana corridor, where you’re just moments from dining, shopping and transit. This extra large unit comes with an enclosed entry with space for bikes, surfboards, shoe storage, sports equipment, or toys. The spacious living area just off the kitchen has lots of room to comfortably dine & relax. This unit also comes with an efficient kitchen and 2 bedrooms that share a shower, but come with their own closets, vanities, and toilets. Maintenance fee includes electricity, hot water, water, sewer, and cable! An additional exterior storage closet on the parking level and 1 standard parking stall is included. Enjoy the convenience of Urban living while still being close to the beauty and serenity of white sandy beaches. Woodrose will be proactively upgrading their plumbing and sprinkler systems in 2026.

Key facts

• Efficient kitchen
• Upgrading plumbing
• $1,300 HOA

Tags

• EFFICIENT KITCHEN
• EXTERIOR STORAGE CLOSET
• STANDARD PARKING STALL
• UPGRADING PLUMBING
• UPGRADING SPRINKLER SYSTEMS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $-48 ($-572/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (2.3% below list).
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $327k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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 C — 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 (+3.1%/yr); 549 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $4,399/mo this rent would consume 68% of the median local household income ($78k/yr) (locally 1641% 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 $10k of equity ($2k loan paydown + $7k appreciation (2.0% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.0% appreciation + 3.1% rent growth), your $101k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($327k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $359k implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $326,690 (9.0% 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 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — 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: 1.23% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 6.8

CMA / ARV

• ARV (median comp): $720,010
• List price: $359,000
• Delta: -50.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.98% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.22×
• Total profit: $22,296
• Equity at exit: $141,141

10-year hold

• IRR: 8.0%
• Equity multiple: 2.09×
• Total profit: $110,027
• Equity at exit: $202,895

Cash invested: $100,520 (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 96814

• Home prices YoY: 0.5%
• Rents YoY: 3.1%
• Active inventory: 549
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $4,399 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,300
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $-48

Break-even live

Break-even rent $4,460

Max offer price $350,576

Occupancy floor 96%

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	43d	2	0.08mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	17d	2	0.08mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	2d	2	0.08mi
1500 Rycroft St Unit 4419R Honolulu, HI	2.0	2.0	1074	$6,000	$5.59	43d	1	0.08mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	23d	1	0.08mi
1500 Rycroft St Unit 4116R Honolulu, HI	2.0	2.0	872	$5,000	$5.73	23d	1	0.08mi
1500 Rycroft St Unit 2519R Honolulu, HI	2.0	2.0	1074	$5,300	$4.93	43d	1	0.08mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	43d	1	0.08mi
1500 Rycroft St Unit 800R Honolulu, HI	2.0	2.0	942	$4,700	$4.99	43d	1	0.08mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	23d	1	0.08mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	23d	1	0.08mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	17d	1	0.08mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	3d	1	0.15mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	14d	1	0.15mi
1515 Liona St Unit 4401L Honolulu, HI	2.0	2.0	990	$4,900	$4.95	43d	1	0.15mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	17d	1	0.15mi
1388 Kapiolani Blvd Honolulu, HI	2.0	2.0	901	$5,500	$6.10	43d	1	0.17mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	3d	1	0.17mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	43d	1	0.18mi
1388 Kapiolani Blvd #2201 Honolulu, HI	2.0	2.0	901	$5,800	$6.44	43d	1	0.18mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	23d	1	0.18mi
1388 Kapiolani Blvd #2901 Honolulu, HI	2.0	2.0	901	$4,800	$5.33	43d	1	0.18mi
1388 Kapiolani Blvd #1611 Honolulu, HI	2.0	2.0	801	$4,550	$5.68	43d	1	0.18mi
1388 Kapiolani Blvd #1606 Honolulu, HI	2.0	2.0	809	$4,500	$5.56	11d	1	0.18mi
1388 Kapiolani Blvd #1606 Honolulu, HI	2.0	2.0	809	$4,500	$5.56	43d	1	0.18mi
1388 Kapiolani Blvd #4111 Honolulu, HI	2.0	2.0	816	$6,500	$7.97	43d	1	0.18mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	10d	1	0.18mi
1267 Rycroft St Honolulu, HI	2.0	1.0	816	$2,750	$3.37	23d	1	0.18mi
1374 Kapiolani Blvd Unit 1327705P Honolulu, HI	2.0	2.0	796	$5,740	$7.21	2d	1	0.19mi
1555 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	1006	$9,500	$9.44	43d	4	0.21mi
1555 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1719	$12,750	$7.42	3d	4	0.21mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$4,750	$4.89	3d	2	0.21mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	19d	1	0.24mi
1631 Kapiolani Blvd #3301 Honolulu, HI	2.0	2.0	892	$3,675	$4.12	3d	1	0.29mi
1631 Kapiolani Blvd #3511 Honolulu, HI	2.0	2.0	895	$3,750	$4.19	43d	1	0.29mi
1314 Kalakaua Ave #407 Honolulu, HI	2.0	1.0	772	$4,800	$6.22	43d	1	0.36mi
1314 Kalakaua Ave #1202 Honolulu, HI	2.0	2.0	832	$5,000	$6.01	19d	1	0.36mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	802	$4,900	$6.11	3d	2	0.36mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	23d	3	0.36mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$3,550	$3.64	14d	2	0.37mi

HOA detail condo

• Monthly dues: $1,300 · $15,600/yr
• Likely covers: watersewerelectriccable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $359,000 Active 112 DOM
2. 2026-06-17
   days on market $359,000 Active 111 DOM
3. 2026-06-16
   days on market $359,000 Active 110 DOM
4. 2026-06-15
   days on market $359,000 Active 109 DOM
5. 2026-06-13
   days on market $359,000 Active 107 DOM
6. 2026-06-13
   days on market $359,000 Active 106 DOM
7. 2026-06-10
   days on market $359,000 Active 104 DOM
8. 2026-06-09
   days on market $359,000 Active 103 DOM
9. 2026-06-08
   days on market $359,000 Active 102 DOM
10. 2026-06-07
    days on market $359,000 Active 101 DOM
11. 2026-06-05
    days on market $359,000 Active 98 DOM
12. 2026-06-03
    days on market $359,000 Active 97 DOM
13. 2026-06-02
    days on market $359,000 Active 96 DOM
14. 2026-06-01
    days on market $359,000 Active 95 DOM
15. 2026-05-31
    days on market $359,000 Active 94 DOM
16. 2026-02-26
    listed $359,000 Active 915-char remark

    Show marketing remark (915 chars)

    Don't miss this 2-bed, 1.5-bath residence nestled in the heart of Honolulu’s vibrant Ala Moana corridor, where you’re just moments from dining, shopping and transit. This extra large unit comes with an enclosed entry with space for bikes, surfboards, shoe storage, sports equipment, or toys. The spacious living area just off the kitchen has lots of room to comfortably dine & relax. This unit also comes with an efficient kitchen and 2 bedrooms that share a shower, but come with their own closets, vanities, and toilets. Maintenance fee includes electricity, hot water, water, sewer, and cable! An additional exterior storage closet on the parking level and 1 standard parking stall is included. Enjoy the convenience of Urban living while still being close to the beauty and serenity of white sandy beaches. Woodrose will be proactively upgrading their plumbing and sprinkler systems in 2026.

17. 1985-04-01
    soldstatus $110,000
18. 1973-12-01
    soldstatus $52,000

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,495 · $125/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $52,794
• − Mortgage interest: −$20,110
• − Property taxes: −$1,495
• − Insurance: −$2,592
• − Repairs & maintenance: −$4,224
• − Management: −$4,224
• − HOA: −$15,600
• − Depreciation: −$10,444
• Taxable loss: −$5,894
• Est. tax savings @ 24.0%: +$1,415
• After-tax cash flow: $842/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): 24,689
• Household income: $77,768
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 1641.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Asian 64% Two or more races 14% White 13% Pacific Islander 6% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Russian 1% Lithuanian 1% Italian 1%
• Foreign-born: 35% · China, South Korea, Vietnam
• Languages at home: 58% English-only · Other Asian/Pacific 15% Chinese 10% Korean 9%

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: ▲ 1.98%
• Current HPI: 376.4197
• Rent YoY: ▲ 3.10%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+590.4% since first listed

3 events — show timeline

• 2026-02-26 Listed $359,000 HiCentral MLS
• 1985-04-01 Sold (Public Records) $110,000 Public Records
• 1973-12-01 Sold (Public Records) $52,000 Public Records

Property tax history

+2.7%/yr

Latest (2022): $1,495 · +7.6% YoY. Source: county tax records.