1129 Rycroft St #406 · Urban Honolulu, HI 96814

$260,000

1 bd · 1.0 ba · 431 sqft · Condo public records · 178 Days on market

Built 1974 Good condition $603/sqft · 27% below area Est $356k · 27% under $510/mo HOA · 14% of rent

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Why this score? — see what drove the B+ 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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +8.6/10.0
• Appreciation +6.0/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0

Listing remarks

Welcome to Rycroft Manor #406 - an affordable opportunity to own in the heart of Honolulu's vibrant Ala Moana-Kaka'ako neighborhood. Tucked along a quiet side street near Pi'ikoi Street and Kapi'olani Boulevard, this top-floor residence, places shopping, dining, everyday conveniences and public transportation within easy reach. With an exceptional Walk Score of 97- a "Walker's Paradise" - This quaint versatile residences of its kind, is a 431-square foot home features an open, light-filled layout with a partitioned sleeping area that provides the privacy and feel of a separate bedroom.

Key facts

• Low maintenance fees
• Sweeping views
• Centrally located

Tags

• SWEEPING VIEWS
• COMMUNITY LAUNDRY ROOM
• PET FRIENDLY
• LOW MAINTENANCE FEES
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 1.6% 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 B — 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: Queen Kaahumanu Elementary School (math 27% / reading 43%, grade F, #107 of 183 statewide, top 58%, 430 students, 63% FRL); Robert Louis Stevenson Middle School (math 30% / reading 57%, grade D, #10 of 42 statewide, top 22%, 576 students, 43% FRL); President William Mckinley High School (math 28% / reading 69%, grade D, #13 of 43 statewide, top 33%, 1,502 students, 50% FRL).
• Market conditions: Rents rising (+3.1%/yr); 859 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 152d 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).

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 $73k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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.
• Current owner paid $148k; list at $260k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.08%
• DSCR: 1.54
• GRM: 6.2

CMA / ARV

• ARV (median comp): $356,388
• List price: $260,000
• Delta: -27.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1134 Kinau St #1204	0.41mi	1/1.0	467 (+8%)	0mo	$275,000	$589	67
1188 Bishop St #1107	1.23mi	1/1.0	436 (+1%)	0mo	$48,000	$110	63
1655 Makaloa St #2203	0.64mi	1/1.0	484 (+12%)	0mo	$189,000	$390	49
1750 Kalakaua Ave #802	0.79mi	1/1.0	390 (-10%)	0mo	$220,000	$564	49
1617 Kapiolani Blvd #1004	0.60mi	1/1.0	511 (+19%)	1mo	$273,000	$534	46
1525 Pensacola St #302	0.61mi	1/1.0	520 (+21%)	1mo	$210,000	$404	46
1459 Pele St #401	0.97mi	1/1.0	327 (-24%)	0mo	$215,000	$657	40
1777 Ala Moana Blvd #1319	1.05mi	1/1.0	500 (+16%)	0mo	$529,000	$1,058	40
1088 Bishop St #2401	1.25mi	1/1.0	525 (+22%)	1mo	$240,000	$457	40
425 Ena Rd Unit 1104A	1.04mi	1/1.0	500 (+16%)	1mo	$84,500	$169	40
444 Niu St #3704	1.13mi	2/2.0 (+1)	476 (+10%)	0mo	$511,160	$1,074	38
444 Niu St #3706	1.13mi	1/2.0	532 (+23%)	0mo	$501,000	$942	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 1.89×
• Total profit: $64,753
• Equity at exit: $102,219

10-year hold

• IRR: 19.0%
• Equity multiple: 3.53×
• Total profit: $183,853
• Equity at exit: $146,943

Cash invested: $72,800 (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: 2 active · 2 under contract
• Median asking: $374,500 ($745/sqft)
• Median days on market: 200 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +11.1% above current asking $/sqft

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

ZIP-level market 96814

• Home prices YoY: 0.5%
• Rents YoY: 3.1%
• Active inventory: 859
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,523 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$69 /mo · $822/yr
• Insurance: −$108
• HOA: −$510
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $733

Break-even live

Break-even rent $2,595

Max offer price $260,000

Occupancy floor 74%

Sensitivity live

Price	-10% $880	-5% $806	+0% $733	+5% $659	+10% $586
Rent	-10% $455	-5% $594	+0% $733	+5% $872	+10% $1,011
Rate	-1.0pp $864	-0.5pp $799	base $733	+0.5pp $665	+1.0pp $597

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: $65,000
• Closing costs: $7,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	158d	9	0.49mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	157d	8	0.49mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	151d	9	0.49mi
987 Queen St Honolulu, HI	1.0	1.0	445	$3,800	$8.54	133d	3	0.49mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	605	$3,875	$6.40	108d	4	0.49mi
987 Queen St Honolulu, HI	1.0–2.0	1.0–2.0	451	$3,900	$8.65	43d	3	0.49mi
1000 Auahi St Honolulu, HI	2.0	1.0–2.0	629	$4,425	$7.03	164d	2	0.60mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	164d	1	0.68mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	143d	1	1.38mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$3,958	$11.15	138d	1	1.38mi

Property features AI

Finance

• Other: Pet policy: contact management
• HOA & community: Monthly maintenance fee: $510.90Association fee covers water and sewerCommunity amenities include deck/porch, patio, and laundry facilities

Exterior

• Security: Key card entry
• Utilities: Water included in association feeSewer included in association fee
• Home design: Located on entry level 4Good conditionCondominium in Rycroft Manor
• Construction: Concrete construction
• Exterior features: Deck/porchPatioHas a viewFee simple ownership

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Partially furnished unitLaminate flooring
• Laundry & utility: On-site laundry facilities (community)

HOA detail $510/mo · $6,120/yr condo

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

Listing history 50 events

1. 2026-11-08
   days on market $260,000 Active 178 DOM
2. 2026-11-07
   days on market $260,000 Active 177 DOM
3. 2026-11-06
   days on market $260,000 Active 176 DOM
4. 2026-11-05
   days on market $260,000 Active 175 DOM
5. 2026-11-04
   days on market $260,000 Active 174 DOM
6. 2026-11-02
   days on market $260,000 Active 172 DOM
7. 2026-11-01
   days on market $260,000 Active 171 DOM
8. 2026-10-31
   days on market $260,000 Active 170 DOM
9. 2026-10-30
   days on market $260,000 Active 169 DOM
10. 2026-10-29
    days on market $260,000 Active 168 DOM
11. 2026-10-28
    days on market $260,000 Active 167 DOM
12. 2026-10-27
    days on market $260,000 Active 166 DOM
13. 2026-10-26
    days on market $260,000 Active 165 DOM
14. 2026-10-26
    days on market $260,000 Active 164 DOM
15. 2026-10-24
    days on market $260,000 Active 163 DOM
16. 2026-10-23
    days on market $260,000 Active 162 DOM
17. 2026-10-22
    days on market $260,000 Active 161 DOM
18. 2026-10-21
    days on market $260,000 Active 160 DOM
19. 2026-10-20
    days on market $260,000 Active 159 DOM
20. 2026-10-19
    days on market $260,000 Active 158 DOM
21. 2026-10-18
    days on market $260,000 Active 157 DOM
22. 2026-10-17
    days on market $260,000 Active 156 DOM
23. 2026-10-16
    days on market $260,000 Active 155 DOM
24. 2026-10-15
    days on market $260,000 Active 154 DOM
25. 2026-10-14
    days on market $260,000 Active 153 DOM
26. 2026-10-13
    days on market $260,000 Active 152 DOM
27. 2026-10-12
    days on market $260,000 Active 151 DOM
28. 2026-10-11
    days on market $260,000 Active 150 DOM
29. 2026-10-10
    days on market $260,000 Active 149 DOM
30. 2026-10-09
    days on market $260,000 Active 148 DOM
31. 2026-10-08
    days on market $260,000 Active 147 DOM
32. 2026-10-07
    days on market $260,000 Active 146 DOM
33. 2026-10-06
    days on market $260,000 Active 145 DOM
34. 2026-10-05
    days on market $260,000 Active 144 DOM
35. 2026-10-04
    days on market $260,000 Active 143 DOM
36. 2026-10-03
    days on market $260,000 Active 142 DOM
37. 2026-10-02
    days on market $260,000 Active 141 DOM
38. 2026-10-01
    days on market $260,000 Active 140 DOM
39. 2026-09-30
    days on market $260,000 Active 139 DOM
40. 2026-09-29
    days on market $260,000 Active 138 DOM
41. 2026-09-27
    days on market $260,000 Active 136 DOM
42. 2026-09-25
    days on market $260,000 Active 134 DOM
43. 2026-09-24
    days on market $260,000 Active 133 DOM
44. 2026-09-23
    days on market $260,000 Active 132 DOM
45. 2026-09-22
    days on market $260,000 Active 131 DOM
46. 2026-09-21
    days on market $260,000 Active 130 DOM
47. 2026-09-20
    days on market $260,000 Active 129 DOM
48. 2026-09-19
    days on market $260,000 Active 128 DOM
49. 2026-09-18
    days on market $260,000 Active 127 DOM
50. 2026-09-17
    days on market $260,000 Active 126 DOM

ⓘ 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: $822 · $69/mo
• Projected year-2 tax: $822 · $69/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $42,276
• − Mortgage interest: −$14,564
• − Property taxes: −$822
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,382
• − Management: −$3,382
• − HOA: −$6,120
• − Depreciation: −$7,564
• Taxable income: $5,142
• Est. tax owed @ 24.0%: −$1,234
• After-tax cash flow: $7,560/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 · 7 photos

Good 80/100 Cosmetic rehab Est. rehab $2,155–$6,465 screening

This 1-bedroom, 1-bathroom townhouse in Rycroft Manor is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for value increase through cosmetic updates.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the property's value. ↑
• Both Trim the landscaping — Well-maintained landscaping can improve the property's curb appeal and attract potential buyers or tenants. ↑
• Both Clean the windows — Clean windows can make the property appear more attractive and increase its value. ↑

ⓘ 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 40/100

Zoned Schools

Elementary Queen Kaahumanu Elementary School F HI #107/183 Nat'l #22,904/41,679 Middle President George Washington Middle School F HI #17/42 Nat'l #6,571/14,009 High President William Mckinley High School D HI #13/43 Nat'l #6,127/17,239

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): 24,689
• Household income: $77,768
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 12% 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 0.58)
• 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%
• Languages at home: 58% English-only · Other Asian/Pacific 15% Chinese 10% Korean 9%

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

Property features AI

Finance

• Other: Pet policy: contact management
• HOA & community: Monthly maintenance fee: $510.90Association fee covers water and sewerCommunity amenities include deck/porch, patio, and laundry facilities

Exterior

• Security: Key card entry
• Utilities: Water included in association feeSewer included in association fee
• Home design: Located on entry level 4Good conditionCondominium in Rycroft Manor
• Construction: Concrete construction
• Exterior features: Deck/porchPatioHas a viewFee simple ownership

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Partially furnished unitLaminate flooring
• Laundry & utility: On-site laundry facilities (community)

Price history

+487.0% since first listed

15 events — show timeline

• 2026-05-14 Listed $270,000 HiCentral MLS
• 2024-06-28 Rental Removed $1,300 APPFOLIO
• 2024-06-13 Listed for Rent $1,300 APPFOLIO
• 2024-05-01 Rental Removed $1,300 APPFOLIO
• 2024-04-12 Listed for Rent $1,300 APPFOLIO
• 2023-12-01 Rental Removed $1,300 APPFOLIO
• 2023-11-06 Listed for Rent $1,300 APPFOLIO
• 2022-12-01 Rental Removed — APPFOLIO
• 2005-03-24 Sold (Public Records) $148,000 Public Records
• 2004-11-21 Listing Removed — HiCentral MLS
• 2004-05-21 Listed $155,000 HiCentral MLS
• 2003-09-16 Sold (Public Records) $27,343 Public Records
• 1989-10-16 Sold (Public Records) $80,000 Public Records
• 1989-10-10 Sold (Public Records) $80,000 Public Records
• 1979-11-01 Sold (Public Records) $46,000 Public Records

Property tax history

+1.0%/yr

Latest (2022): $822 · -1.3% YoY. Source: county tax records.