Is 1710 Makiki St Ph 7 in Urban Honolulu, HI a good investment?

CashFlowRE grades it D+ with a 4.1% cap rate and $-537/mo modeled cash flow at a $288,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 1710 Makiki St Ph 7?

The modeled cap rate is 4.1% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,794/month, from CashFlowRE's rent model.

D+ Composite 45.01

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 +13.2/15.0
Appreciation +6.4/10.0
Cash flow +6.1/30.0
Schools +5.1/10.0
1% rule +4.7/10.0
Rent growth +3.8/5.0
Condition / age +2.8/5.0
Livability +2.5/5.0
DSCR +0.4/10.0

$288,000

1710 Makiki St Ph 7 · Urban Honolulu, HI 96822

1 bd · 1.0 ba · 477 sqft · Townhouse · 86 Days on market

Built 1958 Average condition $604/sqft · 13% below area Est $330k · 13% under $754/mo HOA · 27% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Penthouse, corner unit. Enjoy island living in this well-positioned 1-bedroom, 1-bathroom Penthouse unit at Punahou Hale in Makiki. This end unit captures sweeping views of the city, mountains, and Diamond Head, along with great natural light throughout. Punahou Hale offers secured entry and community laundry for residents. Conveniently situated near shopping, dining, schools, and freeway access, this location makes everyday living easy and accessible. There is no assigned parking; however, parking may be available via a waitlist for $120 per month. Sold As-Is; no repairs made by seller.

Key facts

Community laundry
Sweeping views
Corner unit

What this means for you Summary

Snapshot

This is a 1-bed/1.0-bath townhouse listed at $288k. Condition is rated average.

Deal economics

At list price, monthly cash flow is $-537 ($-6k/yr) — negative.
To cash-flow at today's rent, offer at most $210k (27.0% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (3.0% below list).
Recommended offer: $210k (27.0% below list) — sets the bar for cash-flow.
Cap rate 4.1% 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); 204 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 60d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% 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 35% 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 $10k of equity ($2k loan paydown + $8k 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 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 86 days — a 6% lower offer ($271k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

Watch-outs: HOA is 27% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,284 (27.0% below list)

Questions for the listing agent

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?
It's been on market 86 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

1% rule: 0.97% ✗
Cap rate: 4.06%
Cash-on-cash: -7.99%
DSCR: 0.64
GRM: 8.6

CMA / ARV

ARV (median comp): $330,136
List price: $288,000
Delta: -12.76%
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
1620 Keeaumoku St #805	0.16mi	1/1.0	485 (+2%)	7mo	$277,000	$571	84
1545 Nehoa St #801	0.17mi	1/1.0	510 (+7%)	6mo	$325,000	$637	76
1054 Green St #402	0.70mi	1/1.0	473 (-1%)	5mo	$389,000	$822	62
1330 Wilder Ave #318	0.18mi	1/1.0	544 (+14%)	9mo	$220,000	$404	61
1630 Liholiho St #1401	0.31mi	1/1.0	548 (+15%)	0mo	$300,000	$547	60
1099 Green St Unit A305	0.68mi	1/1.0	471 (-1%)	8mo	$265,000	$563	60
1630 Liholiho St #1002	0.31mi	1/1.0	548 (+15%)	2mo	$320,000	$584	59
1630 Liholiho St #1810	0.31mi	1/1.0	548 (+15%)	3mo	$329,000	$600	58
1515 Liona St #3703	0.70mi	1/1.0	504 (+6%)	0mo	$684,000	$1,357	58
1630 Liholiho St #2309	0.31mi	1/1.0	548 (+15%)	9mo	$329,000	$600	53
1515 Liona St #2403	0.70mi	1/1.0	504 (+6%)	9mo	$670,000	$1,329	51
1550 Rycroft St #507	0.74mi	1/1.0	520 (+9%)	5mo	$310,000	$596	46

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

Projected returns pro-forma

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

5-year hold

IRR: 0.7%
Equity multiple: 1.04×
Total profit: $3,345
Equity at exit: $124,808

10-year hold

IRR: 6.1%
Equity multiple: 1.96×
Total profit: $77,063
Equity at exit: $188,774

Cash invested: $80,640 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 90 active · 34 under contract
Months of supply: 30.0 mo (3%/mo absorbed)
Median asking: $322,500 ($630/sqft)
Median days on market: 88 d
This list price: 28% of active listings are priced below it
ARV vs active asking: +9.8% vs current asking $/sqft

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

ZIP-level market 96822

Home prices YoY: 1.0%
Rents YoY: 5.3%
Active inventory: 204
Price-to-rent: 8.6×

Monthly cashflow live

Estimated rent: $2,794 high interval (Pro) →
Mortgage (P&I): −$1,510
Tax est. 1.5%: −$360 /mo · $4,320/yr
Insurance: −$120
HOA: −$754
Lot rent: −$0
Vacancy / Maint / Mgmt: −$587
Net cashflow: $-537

Break-even live

Break-even rent $3,474

Max offer price $210,284

Occupancy floor —

Sensitivity live

Price	-10% $-338	-5% $-438	+0% $-537	+5% $-637	+10% $-736
Rent	-10% $-758	-5% $-647	+0% $-537	+5% $-427	+10% $-316
Rate	-1.0pp $-392	-0.5pp $-464	base $-537	+0.5pp $-612	+1.0pp $-688

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: $72,000
Closing costs: $8,640
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	72d	1	0.52mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	72d	1	1.18mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	65d	8	1.39mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	66d	9	1.39mi
987 Queen St Honolulu, HI	1.0	1.0	445	$3,800	$8.54	41d	3	1.39mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	605	$3,875	$6.40	16d	4	1.39mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	59d	9	1.39mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	51d	1	1.43mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$3,958	$11.15	47d	1	1.43mi

Property features AI

Finance

HOA & community: Association covers common areas, electricity, hot water, sewer and waterOn-site managementMaintenance fee: $754.85

Exterior

Utilities: Water included in association feeSewer included in association feeElectricity included in association feeHot water included in association fee
Home design: Condo in Punahou Hale / Oahuan Tower LtdEntry on level 11
Construction: Masonry, concrete and stucco construction
Exterior features: Fee simple ownershipZoned A-2 medium density apartmentClubhouseStorage facilities

Interior

Flooring: Laminate
Bathrooms: 1 full bathroom
Interior features: End unitLaminate flooringHas a viewAverage condition
Laundry & utility: Building laundry facilities

HOA detail $754/mo · $9,048/yr

Likely covers: parking

Listing history 50 events

2026-08-08

days on market $288,000 Active 86 DOM
2026-08-07

days on market $288,000 Active 85 DOM
2026-08-06

days on market $288,000 Active 84 DOM
2026-08-05

days on market $288,000 Active 83 DOM
2026-08-04

days on market $288,000 Active 82 DOM
2026-08-03

days on market $288,000 Active 81 DOM
2026-07-31

days on market $288,000 Active 78 DOM
2026-07-30

days on market $288,000 Active 77 DOM
2026-07-30

days on market $288,000 Active 76 DOM
2026-07-28

days on market $288,000 Active 75 DOM
2026-07-26

days on market $288,000 Active 73 DOM
2026-07-24

days on market $288,000 Active 71 DOM
2026-07-23

days on market $288,000 Active 70 DOM
2026-07-22

days on market $288,000 Active 69 DOM
2026-07-21

days on market $288,000 Active 68 DOM
2026-07-20

days on market $288,000 Active 67 DOM
2026-07-18

days on market $288,000 Active 65 DOM
2026-07-18

days on market $288,000 Active 64 DOM
2026-07-16

days on market $288,000 Active 63 DOM
2026-07-15

days on market $288,000 Active 62 DOM
2026-07-14

days on market $288,000 Active 61 DOM
2026-07-13

days on market $288,000 Active 60 DOM
2026-07-13

days on market $288,000 Active 59 DOM
2026-07-11

days on market $288,000 Active 58 DOM
2026-07-10

days on market $288,000 Active 57 DOM
2026-07-10

days on market $288,000 Active 56 DOM
2026-07-07

days on market $288,000 Active 54 DOM
2026-07-06

days on market $288,000 Active 53 DOM
2026-07-05

days on market $288,000 Active 52 DOM
2026-07-03

days on market $288,000 Active 50 DOM
2026-07-02

days on market $288,000 Active 49 DOM
2026-07-01

days on market $288,000 Active 48 DOM
2026-06-30

days on market $288,000 Active 47 DOM
2026-06-29

days on market $288,000 Active 46 DOM
2026-06-28

days on market $288,000 Active 45 DOM
2026-06-27

days on market $288,000 Active 44 DOM
2026-06-27

days on market $288,000 Active 43 DOM
2026-06-25

days on market $288,000 Active 41 DOM
2026-06-22

remarks 594-char remark
2026-06-22

days on market $288,000 Active 39 DOM
2026-06-21

days on market $288,000 Active 38 DOM
2026-06-18

days on market $288,000 Active 35 DOM
2026-06-17

days on market $288,000 Active 34 DOM
2026-06-16

days on market $288,000 Active 33 DOM
2026-06-15

days on market $288,000 Active 32 DOM
2026-06-13

days on market $288,000 Active 30 DOM
2026-06-13

days on market $288,000 Active 29 DOM
2026-06-10

days on market $288,000 Active 27 DOM
2026-06-09

days on market $288,000 Active 26 DOM
2026-06-08

days on market $288,000 Active 25 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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
🫁 Air quality 1/10 Low

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $33,528
− Mortgage interest: −$16,132
− Property taxes: −$4,320
− Insurance: −$1,440
− Repairs & maintenance: −$2,682
− Management: −$2,682
− HOA: −$9,048
− Depreciation: −$8,378
Taxable loss: −$11,156

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,677
After-tax cash flow: $-3,768/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 · 13 photos

Average 55/100 Cosmetic rehab Est. rehab $2,385–$7,155 screening

This penthouse unit in Makiki is in average condition with some cosmetic repairs needed. It offers sweeping views and is well-positioned for urban living.

Repairs flagged

Minor kitchen backsplash — slight discoloration
Minor bathroom vanity — slight discoloration
Minor interior walls — some discoloration

Value-add opportunities

Both paint interior walls — enhances appearance and value ↑
Both replace kitchen backsplash — improves functionality and aesthetics ↑
Both replace bathroom vanity — enhances functionality and aesthetics ↑

ⓘ 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.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary President Abraham Lincoln Elementary School C- HI #46/183 Nat'l #11,263/41,679 Middle Robert Louis Stevenson Middle School D HI #10/42 Nat'l #5,067/14,009 High President Theodore Roosevelt High School C HI #3/43 Nat'l #4,077/17,239

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): 43,747
Household income: $95,947
Rent vs Own: 46.3% rent · 53.7% own
Severe rent burden: 12% of renters

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

1 event — show timeline

2026-05-14 Listed $288,000 HiCentral MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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