1710 Makiki St #401 · Urban Honolulu, HI 96822

$355,000

2 bd · 1.0 ba · 698 sqft · Condo · 191 Days on market

Built 1958 $509/sqft · 12% below area Est $404k · 12% under $832/mo HOA · 26% of rent ↓ 56% 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).

• ARV discount +13.0/15.0
• Appreciation +6.4/10.0
• Cash flow +5.6/30.0
• 1% rule +4.1/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

New Price! Location, Location! Discover this beautifully renovated 2-bedroom, 1-bath Corner end unit, updated in 2025. Punahou Hale is just minutes from the University of Hawaii Manoa, Punahou & Maryknoll Schools, Kapiolani Medical Center, Ala Moana Shopping Center, beach parks, downtown Honolulu with easy freeway access. This bright home features luxury vinyl flooring, newer appliances, and cherrywood cabinets. Enjoy scenic views of Tantalus from the bedroom and Diamond Head/coastline views on the rooftop area. Reserved parking avail. on a short waitlist. Seller is willing to provide 2 FREE YEARS OF PRE-PAID PARKING in a nearby building. Whether you're seeking a primary residence or a strong investment property, this home presents an exceptional opportunity! Pets alllowed (verify). PRICED UNDER TAX ASSESSED VALUE.

Key facts

• Corner end unit
• Reserved parking
• Scenic views

Tags

• CORNER END UNIT
• SCENIC VIEWS
• LUXURY VINYL FLOORING
• CHERRYWOOD CABINETS
• RESERVED PARKING
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $-746 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (30.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $321k (9.5% below list).
• Recommended offer: $247k (30.4% below list) — sets the bar for cash-flow.
• Cap rate 3.8% 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.
• Zoned schools: President Abraham Lincoln Elementary School (math 47% / reading 57%, grade C-, #46 of 183 statewide, top 29%, 357 students, 57% FRL); Robert Louis Stevenson Middle School (math 30% / reading 57%, grade D, #10 of 42 statewide, top 22%, 576 students, 43% FRL); President Theodore Roosevelt High School (math 41% / reading 73%, grade C, #3 of 43 statewide, top 7%, 1,433 students, 39% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 40% 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 $12k of equity ($2k loan paydown + $10k 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 ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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: HOA is 26% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $247,054 (30.4% 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 191 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — 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: 0.91% ✗
• Cap rate: 3.77%
• Cash-on-cash: -9.01%
• DSCR: 0.60
• GRM: 9.2

CMA / ARV

• ARV (median comp): $404,349
• List price: $355,000
• Delta: -12.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,843
• Equity at exit: $153,843

10-year hold

• IRR: 5.2%
• Equity multiple: 1.81×
• Total profit: $80,259
• Equity at exit: $232,690

Cash invested: $99,400 (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 →

ZIP-level market 96822

• Home prices YoY: 1.0%
• Rents YoY: 5.3%
• Active inventory: 180
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,214 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• HOA: −$832
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $-746

Break-even live

Break-even rent $4,159

Max offer price $247,054

Occupancy floor —

Sensitivity live

Price	-10% $-501	-5% $-623	+0% $-746	+5% $-869	+10% $-991
Rent	-10% $-1,000	-5% $-873	+0% $-746	+5% $-619	+10% $-492
Rate	-1.0pp $-567	-0.5pp $-656	base $-746	+0.5pp $-838	+1.0pp $-932

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	25d	1	0.28mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	25d	3	0.47mi
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	3d	1	0.49mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	25d	1	0.52mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	5d	1	0.68mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	21d	1	0.70mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	25d	1	0.75mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	25d	1	0.75mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	25d	1	0.75mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	19d	1	0.75mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	45d	1	0.75mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	19d	1	0.75mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	21d	1	0.75mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	3d	2	0.90mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	45d	2	0.90mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	19d	2	0.90mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	23d	1	0.91mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	5d	1	0.97mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	25d	1	0.97mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	45d	1	0.97mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	12d	1	0.97mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$4,750	$4.89	5d	2	1.01mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$3,550	$3.64	16d	2	1.04mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	23d	1	1.04mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$3,000	$3.76	23d	3	1.08mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$3,000	$3.51	25d	2	1.08mi
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,050	$5.30	25d	1	1.09mi
909 Coolidge St #301 Honolulu, HI	1.0	1.0	576	$3,950	$6.86	5d	1	1.09mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	18d	1	1.16mi
419A Atkinson Dr Honolulu, HI	2.0	1.0	664	$2,698	$4.06	19d	2	1.17mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,735	$6.58	25d	1	1.18mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	19d	1	1.20mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	13d	1	1.22mi
2333 Kapiolani Blvd Unit 1008B Honolulu, HI	2.0	1.0	600	$2,700	$4.50	25d	1	1.24mi
225 Auwaiolimu St Honolulu, HI	3.0	1.0	710	$3,800	$5.35	19d	1	1.25mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	25d	2	1.26mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	3d	2	1.26mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	25d	1	1.26mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$6,750	$5.81	5d	4	1.26mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	13d	1	1.27mi

HOA detail condo

• Monthly dues: $832 · $9,984/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $355,000 Active 191 DOM
2. 2026-06-18
   days on market $355,000 Active 188 DOM
3. 2026-06-17
   days on market $355,000 Active 187 DOM
4. 2026-06-15
   days on market $355,000 Active 185 DOM
5. 2026-06-13
   days on market $355,000 Active 183 DOM
6. 2026-06-13
   days on market $355,000 Active 182 DOM
7. 2026-06-10
   days on market $355,000 Active 180 DOM
8. 2026-06-09
   days on market $355,000 Active 179 DOM
9. 2026-06-08
   days on market $355,000 Active 178 DOM
10. 2026-06-07
    days on market $355,000 Active 177 DOM
11. 2026-06-05
    days on market $355,000 Active 174 DOM
12. 2026-06-03
    days on market $355,000 Active 173 DOM
13. 2026-06-02
    days on market $355,000 Active 172 DOM
14. 2026-06-01
    days on market $355,000 Active 171 DOM
15. 2026-05-31
    days on market $355,000 Active 170 DOM
16. 2026-05-19
    price $355,000 834-char remark

    Show marketing remark (834 chars)

    New Price! Location, Location! Discover this beautifully renovated 2-bedroom, 1-bath Corner end unit, updated in 2025. Punahou Hale is just minutes from the University of Hawaii Manoa, Punahou & Maryknoll Schools, Kapiolani Medical Center, Ala Moana Shopping Center, beach parks, downtown Honolulu with easy freeway access. This bright home features luxury vinyl flooring, newer appliances, and cherrywood cabinets. Enjoy scenic views of Tantalus from the bedroom and Diamond Head/coastline views on the rooftop area. Reserved parking avail. on a short waitlist. Seller is willing to provide 2 FREE YEARS OF PRE-PAID PARKING in a nearby building. Whether you're seeking a primary residence or a strong investment property, this home presents an exceptional opportunity! Pets alllowed (verify). PRICED UNDER TAX ASSESSED VALUE.

17. 2026-04-23
    price $359,000 834-char remark

    Show marketing remark (834 chars)

    New Price! Location, Location! Discover this beautifully renovated 2-bedroom, 1-bath Corner end unit, updated in 2025. Punahou Hale is just minutes from the University of Hawaii Manoa, Punahou & Maryknoll Schools, Kapiolani Medical Center, Ala Moana Shopping Center, beach parks, downtown Honolulu with easy freeway access. This bright home features luxury vinyl flooring, newer appliances, and cherrywood cabinets. Enjoy scenic views of Tantalus from the bedroom and Diamond Head/coastline views on the rooftop area. Reserved parking avail. on a short waitlist. Seller is willing to provide 2 FREE YEARS OF PRE-PAID PARKING in a nearby building. Whether you're seeking a primary residence or a strong investment property, this home presents an exceptional opportunity! Pets alllowed (verify). PRICED UNDER TAX ASSESSED VALUE.

18. 2025-12-12
    listed $365,000 Active 834-char remark

    Show marketing remark (834 chars)

    New Price! Location, Location! Discover this beautifully renovated 2-bedroom, 1-bath Corner end unit, updated in 2025. Punahou Hale is just minutes from the University of Hawaii Manoa, Punahou & Maryknoll Schools, Kapiolani Medical Center, Ala Moana Shopping Center, beach parks, downtown Honolulu with easy freeway access. This bright home features luxury vinyl flooring, newer appliances, and cherrywood cabinets. Enjoy scenic views of Tantalus from the bedroom and Diamond Head/coastline views on the rooftop area. Reserved parking avail. on a short waitlist. Seller is willing to provide 2 FREE YEARS OF PRE-PAID PARKING in a nearby building. Whether you're seeking a primary residence or a strong investment property, this home presents an exceptional opportunity! Pets alllowed (verify). PRICED UNDER TAX ASSESSED VALUE.

19. 2016-12-20
    historical
20. 2016-07-13
    price $99,000
21. 2016-07-13
    listed $129,000 Active
22. 1993-02-03
    soldstatus $804,665

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $38,572
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,086
• − Management: −$3,086
• − HOA: −$9,984
• − Depreciation: −$10,327
• Taxable loss: −$14,896
• Est. tax savings @ 24.0%: +$3,575
• After-tax cash flow: $-5,377/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

-55.9% since first listed

7 events — show timeline

• 2026-05-19 Price Changed $355,000 HiCentral MLS
• 2026-04-23 Price Changed $359,000 HiCentral MLS
• 2025-12-12 Listed $365,000 HiCentral MLS
• 2016-12-20 Listing Removed — HiCentral MLS
• 2016-07-13 Price Changed $99,000 HiCentral MLS
• 2016-07-13 Listed $129,000 HiCentral MLS
• 1993-02-03 Sold (Public Records) $804,665 Public Records