1260 Richard Ln Unit B-602 · Urban Honolulu, HI 96819

$280,000

2 bd · 1.0 ba · 643 sqft · Condo · 113 Days on market

Built 1978 Good condition $435/sqft · 6% below area Est $297k · 6% under $720/mo HOA · 26% of rent ↓ 11% since listing

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Why this score? — see what drove the F 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).

• ARV discount +10.1/15.0
• Cash flow +6.6/30.0
• 1% rule +4.9/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully refreshed 2-bedroom, 1-bath residence at 1260 Richard Lane! Featuring fresh interior paint and new laminate flooring, this move-in ready unit has been thoughtfully updated with a remodeled kitchen and bathroom. Enjoy a spacious living room, a dedicated dining area, and a large lanai accessible through sliding glass doors—perfect for relaxing and taking in the island breezes. The secured building offers keyed entry, one assigned uncovered parking stall, and ample guest parking for added convenience. Ideally located in lower Kalihi, you’ll appreciate easy access to major roadways, freeway entrances, and public transportation.

Key facts

• Laminate flooring
• Secured building
• Large lanai

Tags

• NEW INTERIOR PAINT
• LAMINATE FLOORING
• SPACIOUS LIVING ROOM
• DEDICATED DINING AREA
• LARGE LANAI
• SECURED BUILDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (27.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (0.8% below list).
• Recommended offer: $204k (27.2% below list) — sets the bar for cash-flow.
• Cap rate 4.3% 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 F — 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: Kalihi Waena Elementary School (math 14% / reading 28%, grade F, #157 of 183 statewide, top 87%, 465 students, 64% FRL); Governor Sanford B Dole Middle School (math 8% / reading 24%, grade F, #41 of 42 statewide, top 98%, 530 students, 78% FRL); Governor Wallace Rider Farrington High School (math 17% / reading 57%, grade F, #29 of 43 statewide, top 67%, 2,238 students, 54% FRL) — zoned schools average 65% FRL vs 39% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 41% district-wide (-16 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
• Market conditions: 47 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 33% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 113 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 26% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,825 (27.2% 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 113 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — 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. 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?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.04%
• DSCR: 0.69
• GRM: 8.4

CMA / ARV

• ARV (median comp): $297,060
• List price: $280,000
• Delta: -5.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1260 Richard Ln Unit B218	0.00mi	2/1.0	643 (0%)	5mo	$276,000	$429	95
1250 Richard Ln #306	0.07mi	2/1.0	643 (0%)	2mo	$280,000	$435	94
1425 Kaumualii St Unit C123	0.79mi	2/1.0	645 (+0%)	4mo	$340,000	$527	62
1506 Kaumualii St Unit A105	0.70mi	2/1.0	672 (+4%)	2mo	$400,000	$595	58
1506 Kaumualii St Unit A302	0.70mi	2/1.0	672 (+4%)	5mo	$390,000	$580	56
1514 Dillingham Blvd #301	0.76mi	2/1.0	609 (-5%)	2mo	$365,000	$599	54
1555 Pohaku St Unit A503	0.90mi	1/1.0 (-1)	617 (-4%)	3mo	$285,000	$462	50
1514 Dillingham Blvd #206	0.76mi	2/1.0	609 (-5%)	8mo	$378,000	$621	49
2033 Wilcox Ln Unit B314	0.50mi	2/1.0	534 (-17%)	4mo	$315,000	$590	48
720 Waiakamilo Rd Unit C120A	0.78mi	2/1.0	702 (+9%)	8mo	$400,000	$570	43
1118 Pua Ln #113	1.27mi	2/1.0	702 (+9%)	11mo	$315,000	$449	40
1118 Pua Ln #216	1.27mi	1/1.0 (-1)	488 (-24%)	4mo	$235,000	$482	32

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

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -30.1%
• Equity multiple: 0.00×
• Total profit: $-78,375
• Equity at exit: $41,749

10-year hold

• IRR: -30.5%
• Equity multiple: -0.39×
• Total profit: $-109,287
• Equity at exit: $24,209

Cash invested: $78,400 (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: 1 active · 4 under contract
• Median asking: $325,000 ($505/sqft)
• Median days on market: 168 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -8.6% vs current asking $/sqft

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

ZIP-level market 96819

• Active inventory: 47
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,779 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$720
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-526

Break-even live

Break-even rent $3,445

Max offer price $203,825

Occupancy floor —

Sensitivity live

Price	-10% $-333	-5% $-430	+0% $-526	+5% $-623	+10% $-720
Rent	-10% $-746	-5% $-636	+0% $-526	+5% $-417	+10% $-307
Rate	-1.0pp $-385	-0.5pp $-455	base $-526	+0.5pp $-599	+1.0pp $-673

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: $70,000
• Closing costs: $8,400
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1260 Richard Ln Unit B318 Honolulu, HI	2.0	1.0	643	$2,750	$4.28	72d	1	0.03mi
1260 Richard Ln #513 Honolulu, HI	2.0	1.0	643	$2,700	$4.20	39d	1	0.03mi
2429 N School St Unit Fd Honolulu, HI	3.0	1.0	750	$2,800	$3.73	41d	1	0.35mi
1555 Moani St Honolulu, HI	3.0	1.0	680	$2,750	$4.04	72d	1	1.49mi

Property features AI

Finance

• Financial info: Annual tax information availableAssessed value listed
• HOA & community: Association covers common areas, sewer, and waterMaintenance expense: $720.62Community features include deck/porch, patio, and trash chute

Exterior

• Parking: Assigned parking (1 space)Open parking available
• Security: Elevator securedKey card entry
• Utilities: Sewer included in association feesWater included in association fees
• Home design: Condominium building (1260 Richard Ln)Entry level: 6Fee simple ownershipZoned for medium density apartments
• Construction: Concrete constructionBuilt in 2026
• Exterior features: Deck/porchPatioTrash chuteElevator securedKey card entry

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Laminate flooringStorage

HOA detail $720/mo · $8,640/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $280,000 Active 113 DOM
2. 2026-08-07
   days on market $280,000 Active 112 DOM
3. 2026-08-06
   days on market $280,000 Active 111 DOM
4. 2026-08-05
   status $280,000 Active 110 DOM
5. 2026-08-05
   days on market $280,000 Active Under Contract 110 DOM
6. 2026-08-04
   days on market $280,000 Active Under Contract 109 DOM
7. 2026-08-03
   days on market $280,000 Active Under Contract 108 DOM
8. 2026-07-31
   days on market $280,000 Active Under Contract 105 DOM
9. 2026-07-30
   days on market $280,000 Active Under Contract 104 DOM
10. 2026-07-30
    days on market $280,000 Active Under Contract 103 DOM
11. 2026-07-28
    days on market $280,000 Active Under Contract 102 DOM
12. 2026-07-26
    days on market $280,000 Active Under Contract 100 DOM
13. 2026-07-24
    days on market $280,000 Active Under Contract 98 DOM
14. 2026-07-23
    days on market $280,000 Active Under Contract 97 DOM
15. 2026-07-22
    days on market $280,000 Active Under Contract 96 DOM
16. 2026-07-21
    days on market $280,000 Active Under Contract 95 DOM
17. 2026-07-20
    days on market $280,000 Active Under Contract 94 DOM
18. 2026-07-18
    days on market $280,000 Active Under Contract 92 DOM
19. 2026-07-18
    days on market $280,000 Active Under Contract 91 DOM
20. 2026-07-16
    days on market $280,000 Active Under Contract 90 DOM
21. 2026-07-15
    days on market $280,000 Active Under Contract 89 DOM
22. 2026-07-14
    days on market $280,000 Active Under Contract 88 DOM
23. 2026-07-13
    days on market $280,000 Active Under Contract 87 DOM
24. 2026-07-13
    days on market $280,000 Active Under Contract 86 DOM
25. 2026-07-11
    days on market $280,000 Active Under Contract 85 DOM
26. 2026-07-10
    days on market $280,000 Active Under Contract 84 DOM
27. 2026-07-10
    days on market $280,000 Active Under Contract 83 DOM
28. 2026-07-07
    days on market $280,000 Active Under Contract 81 DOM
29. 2026-07-06
    days on market $280,000 Active Under Contract 80 DOM
30. 2026-07-05
    days on market $280,000 Active Under Contract 79 DOM
31. 2026-07-03
    days on market $280,000 Active Under Contract 77 DOM
32. 2026-07-02
    days on market $280,000 Active Under Contract 76 DOM
33. 2026-07-01
    days on market $280,000 Active Under Contract 75 DOM
34. 2026-06-30
    days on market $280,000 Active Under Contract 74 DOM
35. 2026-06-29
    days on market $280,000 Active Under Contract 73 DOM
36. 2026-06-28
    days on market $280,000 Active Under Contract 72 DOM
37. 2026-06-27
    days on market $280,000 Active Under Contract 71 DOM
38. 2026-06-27
    statusdays on market $280,000 Active Under Contract 70 DOM
39. 2026-06-25
    days on market $280,000 Active 68 DOM
40. 2026-06-22
    days on market $280,000 Active 66 DOM
41. 2026-06-21
    days on market $280,000 Active 65 DOM
42. 2026-06-18
    days on market $280,000 Active 62 DOM
43. 2026-06-17
    days on market $280,000 Active 61 DOM
44. 2026-06-16
    days on market $280,000 Active 60 DOM
45. 2026-06-15
    days on market $280,000 Active 59 DOM
46. 2026-06-13
    days on market $280,000 Active 57 DOM
47. 2026-06-13
    days on market $280,000 Active 56 DOM
48. 2026-06-10
    days on market $280,000 Active 54 DOM
49. 2026-06-09
    days on market $280,000 Active 53 DOM
50. 2026-06-08
    days on market $280,000 Active 52 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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $33,342
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$2,198
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − HOA: −$8,640
• − Depreciation: −$8,145
• Taxable loss: −$10,860
• Est. tax savings @ 24.0%: +$2,606
• After-tax cash flow: $-3,711/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 · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $3,215–$9,645 screening

This move-in ready 2-bedroom, 1-bath condo has been thoughtfully updated with a remodeled kitchen and bathroom, fresh paint, and new laminate flooring. The home is in good condition with no visible repairs needed, making it an excellent opportunity for a buyer looking for a turnkey investment.

Value-add opportunities

• Both Painting the exterior and adding a fresh coat of paint to the interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Upgrading the flooring to a more modern style — Improves the overall look and feel of the home ↑
• Both Installing new lighting fixtures throughout the home — Enhances the ambiance and energy efficiency ↑
• Both Adding a smart home system for convenience and energy savings — Improves the home's value and appeal to tech-savvy buyers ↑

ⓘ 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 25/100

Zoned Schools

Elementary Kalihi Waena Elementary School F HI #157/183 Nat'l #33,016/41,679 Middle Governor Sanford B Dole Middle School F HI #41/42 Nat'l #12,486/14,009 High Governor Wallace Rider Farrington High School F HI #29/43 Nat'l #9,001/17,239

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): 50,345
• Household income: $99,848
• Rent vs Own: 49.2% rent · 50.8% own
• Severe rent burden: 10% 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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 59% Two or more races 16% Pacific Islander 14% White 7% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Russian 2% Portuguese 1% Romanian 1%
• Foreign-born: 37% · China, Vietnam, South Korea
• Languages at home: 54% English-only · Other Asian/Pacific 26% Tagalog/Filipino 13% Chinese 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: ▼ -409.34%
• Current HPI: 399.7421
• Rent YoY: —
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Property features AI

Finance

• Financial info: Annual tax information availableAssessed value listed
• HOA & community: Association covers common areas, sewer, and waterMaintenance expense: $720.62Community features include deck/porch, patio, and trash chute

Exterior

• Parking: Assigned parking (1 space)Open parking available
• Security: Elevator securedKey card entry
• Utilities: Sewer included in association feesWater included in association fees
• Home design: Condominium building (1260 Richard Ln)Entry level: 6Fee simple ownershipZoned for medium density apartments
• Construction: Concrete constructionBuilt in 2026
• Exterior features: Deck/porchPatioTrash chuteElevator securedKey card entry

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Laminate flooringStorage

Price history

-11.1% since first listed

3 events — show timeline

• 2026-06-26 Contingent — HiCentral MLS
• 2026-05-18 Price Changed $280,000 HiCentral MLS
• 2026-04-17 Listed $315,000 HiCentral MLS