725 Piikoi St #803 · Urban Honolulu, HI 96814

$270,000

1 bd · 1.0 ba · 588 sqft · Condo public records · 7 Days on market

Built 1977 $991/mo HOA · 29% of rent

---

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 +14.9/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• DSCR +4.5/10.0
• 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

Great for first time home buyers or investor opportunity! Located streets away from McKinney High School, Ala Moana Shopping Center and more! Property features, an on-site pool, and in unit laundry! One gated covered parking stall, secured building, mountain views on the cool side of the building.

Key facts

• Video surveillance
• In unit laundry
• Secured fob access

Tags

• PRIVATE STORAGE LOCKER
• IN UNIT LAUNDRY
• SECURED FOB ACCESS
• ON SITE RESIDENT MANAGER
• VIDEO SURVEILLANCE
• REFRESHING SWIMMING POOL

Property features AI

Finance

• Other: Zoned A-2 Medium Density Apartment
• HOA & community: Association covers cable TV, hot water, sewer and water; Maintenance expense: $991

Exterior

• Parking: Assigned covered secured parking (1 space)
• Security: Key card entry
• Home design: Piikoi Plaza building; 1 story; Entry on level 8; Fee simple
• Construction: Double wall and concrete construction; Slab foundation
• Exterior features: Key card entry; Pool; Trash chute

Interior

• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; Has view; Good condition

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $11 ($134/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Cap rate 6.6% 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 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 17d 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 $3,422/mo this rent would consume 53% 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 $7k of equity ($2k loan paydown + $5k 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 $76k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $65k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.27% ✓
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.26×
• Total profit: $19,805
• Equity at exit: $106,151

10-year hold

• IRR: 8.7%
• Equity multiple: 2.18×
• Total profit: $89,413
• Equity at exit: $152,595

Cash invested: $75,600 (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: 6.6×

Monthly cashflow live

• Estimated rent: $3,422 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$991
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $11

Break-even live

Break-even rent $3,408

Max offer price $270,000

Occupancy floor 95%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$2,900	$2.98	15d	2	0.14mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	20d	1	0.21mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	24d	1	0.22mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	44d	1	0.22mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	10d	1	0.22mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	3d	1	0.22mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$3,500	$3.60	3d	2	0.25mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	44d	1	0.27mi
1500 Rycroft St Unit 1509R Honolulu, HI	—	1.0	416	$3,000	$7.21	24d	1	0.27mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	24d	1	0.27mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	24d	1	0.27mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	17d	1	0.27mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	20d	1	0.27mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	17d	1	0.27mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	24d	1	0.27mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$3,500	$3.81	44d	2	0.29mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	2d	2	0.29mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$3,400	$3.68	17d	2	0.29mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	3d	1	0.31mi
1133 Waimanu St #1808 Honolulu, HI	1.0	1.0	556	$2,800	$5.04	12d	1	0.38mi
1133 Waimanu St #405 Honolulu, HI	1.0	1.0	550	$2,700	$4.91	3d	1	0.38mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	2d	2	0.41mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	24d	2	0.41mi
909 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	790	$2,700	$3.42	3d	2	0.49mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	24d	3	0.52mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$3,500	$3.01	3d	4	0.53mi
987 Queen St Honolulu, HI	1.0	1.0	606	$3,975	$6.56	44d	2	0.54mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	17d	9	0.54mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	16d	8	0.54mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	10d	9	0.54mi
1108 Auahi St Honolulu, HI	3.0	1.0–3.5	1444	$7,767	$5.38	44d	2	0.54mi
1108 Auahi St Honolulu, HI	3.0	1.0–3.5	1441	$7,767	$5.39	24d	1	0.54mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	21d	1	0.57mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	17d	1	0.59mi
1000 Auahi St Honolulu, HI	1.0	1.0	561	$3,800	$6.77	17d	1	0.61mi
1000 Auahi St Honolulu, HI	1.0–3.0	1.0–3.0	1019	$3,800	$3.73	44d	4	0.64mi
1000 Auahi St Honolulu, HI	1.0–2.0	1.0–2.0	775	$4,000	$5.16	15d	2	0.64mi
1000 Auahi St Honolulu, HI	2.0	1.0–2.0	629	$4,425	$7.03	24d	2	0.64mi
333 Ward Ave #1709 Honolulu, HI	1.0	1.0	565	$4,000	$7.08	10d	1	0.65mi
333 Ward Ave #1306 Honolulu, HI	1.0	1.0	749	$4,600	$6.14	3d	1	0.65mi

HOA detail condo

• Monthly dues: $991 · $11,892/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $270,000 Active 7 DOM
2. 2026-06-18
   status $270,000 Active 6 DOM
3. 2026-06-17
   days on market $270,000 Active Under Contract 6 DOM
4. 2026-06-16
   days on market $270,000 Active Under Contract 5 DOM
5. 2026-06-15
   statusdays on market $270,000 Active Under Contract 4 DOM
6. 2026-06-13
   days on market $270,000 Active 2 DOM
7. 2026-06-13
   pricestatusdays on marketlisting id $270,000 Active 1 DOM
8. 2026-06-03
   days on market $290,000 Active Under Contract 210 DOM
9. 2026-06-02
   days on market $290,000 Active Under Contract 209 DOM
10. 2026-06-01
    days on market $290,000 Active Under Contract 208 DOM
11. 2026-05-31
    days on market $290,000 Active Under Contract 207 DOM
12. 2026-03-03
    historical Active Under Contract
13. 2026-02-19
    price $290,000
14. 2025-12-17
    price $315,000
15. 2025-11-04
    listed $335,000 Active
16. 2022-06-06
    soldstatus $365,000 Sold 298-char remark

    Show marketing remark (298 chars)

    Great for first time home buyers or investor opportunity! Located streets away from McKinney High School, Ala Moana Shopping Center and more! Property features, an on-site pool, and in unit laundry! One gated covered parking stall, secured building, mountain views on the cool side of the building.

17. 2022-01-26
    listed $365,000 Active 298-char remark

    Show marketing remark (298 chars)

    Great for first time home buyers or investor opportunity! Located streets away from McKinney High School, Ala Moana Shopping Center and more! Property features, an on-site pool, and in unit laundry! One gated covered parking stall, secured building, mountain views on the cool side of the building.

18. 2021-10-12
    soldstatus $190,221
19. 2021-10-12
    soldstatus $190,221
20. 2021-09-15
    soldstatus $190,221
21. 2014-04-11
    soldstatus $19,642
22. 2014-02-27
    soldstatus $19,640
23. 2013-06-10
    soldstatus $19,520
24. 2011-09-23
    soldstatus $127,150
25. 2008-10-09
    historical
26. 2008-04-10
    listed $205,000
27. 2007-08-15
    historical
28. 2007-06-29
    listed $225,000
29. 2005-08-26
    soldstatus $184,000
30. 1991-03-15
    soldstatus $185,000
31. 1983-09-01
    soldstatus $73,500

ⓘ 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: $1,278 · $107/mo
• Projected year-2 tax: $1,278 · $107/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: $41,067
• − Mortgage interest: −$15,124
• − Property taxes: −$1,278
• − Insurance: −$2,148
• − Repairs & maintenance: −$3,285
• − Management: −$3,285
• − HOA: −$11,892
• − Depreciation: −$7,855
• Taxable loss: −$3,800
• Est. tax savings @ 24.0%: +$912
• After-tax cash flow: $1,046/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

+294.6% since first listed

20 events — show timeline

• 2026-03-03 Contingent — HiCentral MLS
• 2026-02-19 Price Changed $290,000 HiCentral MLS
• 2025-12-17 Price Changed $315,000 HiCentral MLS
• 2025-11-04 Listed $335,000 HiCentral MLS
• 2022-06-06 Sold (MLS) $365,000 HiCentral MLS
• 2022-01-26 Listed $365,000 HiCentral MLS
• 2021-10-12 Sold (Public Records) $190,221 Public Records
• 2021-10-12 Sold (Public Records) $190,221 Public Records
• 2021-09-15 Sold (Public Records) $190,221 Public Records
• 2014-04-11 Sold (Public Records) $19,642 Public Records
• 2014-02-27 Sold (Public Records) $19,640 Public Records
• 2013-06-10 Sold (Public Records) $19,520 Public Records
• 2011-09-23 Sold (Public Records) $127,150 Public Records
• 2008-10-09 Listing Removed — HiCentral MLS
• 2008-04-10 Listed $205,000 HiCentral MLS
• 2007-08-15 Listing Removed — HiCentral MLS
• 2007-06-29 Listed $225,000 HiCentral MLS
• 2005-08-26 Sold (Public Records) $184,000 Public Records
• 1991-03-15 Sold (Public Records) $185,000 Public Records
• 1983-09-01 Sold (Public Records) $73,500 Public Records

Property tax history

+7.2%/yr

Latest (2022): $1,278 · +1.2% YoY. Source: county tax records.