435 Seaside Ave #409 · Urban Honolulu, HI 96815

$285,000

1 bd · 1.0 ba · 732 sqft · Condo public records · 37 Days on market

Built 1962 $389/sqft · 34% below area Est $430k · 34% under $1020/mo HOA · 35% of rent

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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 +15.0/15.0
• Cash flow +6.8/30.0
• Appreciation +6.4/10.0
• 1% rule +5.1/10.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0

Listing remarks MLS

Rarely available corner unit with 732 sq. ft. in Central Waikiki, just 1 and a 1/2 blocks from the beach! Air conditioning is now available - ask for info! Beautiful pool and BBQ area, extra storage, washer/dryer in unit. Monthly parking available across Kuhio. All this with VA loan available. Where else in Waikiki can you find square footage like this at a price this low?

Key facts

• Laundry hook ups
• $1,020 HOA
• Community pool

Tags

• PERSONAL STORAGE LOCKER
• LAUNDRY HOOK UPS
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• WELL-MANAGED BUILDING

Property features AI

Finance

• Financial info: Maintenance expense: $1,020.82
• HOA & community: Association covers common areas, cable TV, electricity, hot water, sewer and water; Maintenance fee listed

Exterior

• Security: Closed-circuit cameras; Elevator secured; Key card entry; Gated
• Utilities: Fee simple land tenure
• Home design: Condominium in Seaside Towers; Entry on 4th level; X2 - Apartment precinct zoning
• Construction: Concrete construction; Slab foundation
• Exterior features: Gated community; Barbecue area; Pool; Storage facilities

Interior

• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Interior features: End unit; Has a view; Average condition

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $-864 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (53.6% below list).
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $132k (53.6% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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 Thomas Jefferson Elementary School (math 42% / reading 47%, grade F, #73 of 183 statewide, top 41%, 340 students, 55% FRL); President George Washington Middle School (math 30% / reading 46%, grade F, #17 of 42 statewide, top 39%, 569 students, 61% FRL); Kaimuki High School (math 12% / reading 47%, grade F, #35 of 43 statewide, top 86%, 620 students, 60% FRL) — zoned schools average 59% FRL vs 39% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 813 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

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 37 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 $240k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 35% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,335 (53.6% 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 37 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — 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. 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: 1.01% ✓
• Cap rate: 4.45%
• Cash-on-cash: -6.58%
• DSCR: 0.71
• GRM: 8.2

CMA / ARV

• ARV (median comp): $430,391
• List price: $285,000
• Delta: -33.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.74% appreciation · 6.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.81×
• Total profit: $-14,832
• Equity at exit: $124,042

10-year hold

• IRR: 3.5%
• Equity multiple: 1.57×
• Total profit: $45,310
• Equity at exit: $188,031

Cash invested: $79,800 (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 →

ZIP-level market 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 813
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,886 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$119
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,020
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $-864

Break-even live

Break-even rent $3,980

Max offer price $132,335

Occupancy floor —

Sensitivity live

Price	-10% $-703	-5% $-784	+0% $-864	+5% $-945	+10% $-1,026
Rent	-10% $-1,092	-5% $-978	+0% $-864	+5% $-750	+10% $-636
Rate	-1.0pp $-721	-0.5pp $-792	base $-864	+0.5pp $-938	+1.0pp $-1,013

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 Seaside Ave #2220 Honolulu, HI	1.0	1.0	570	$2,625	$4.61	13d	1	0.02mi
2281 Ala Wai Blvd #902 Honolulu, HI	2.0	1.0	609	$3,950	$6.49	15d	1	0.04mi
2211 Ala Wai Blvd #1108 Honolulu, HI	1.0	1.0	413	$2,600	$6.30	25d	1	0.11mi
2211 Ala Wai Blvd Honolulu, HI	1.0	1.0	437	$3,100	$7.09	25d	1	0.11mi
2345 Ala Wai Blvd #1514 Honolulu, HI	1.0	1.0	555	$2,800	$5.05	25d	1	0.14mi
430 Lewers St Unit 14D Honolulu, HI	1.0	1.0	732	$2,900	$3.96	25d	1	0.17mi
430 Lewers St Unit 25E Honolulu, HI	1.0	1.0	673	$2,700	$4.01	25d	1	0.17mi
445 Kaiolu St Honolulu, HI	1.0	1.0	490	$3,400	$6.94	19d	1	0.18mi
2380 Kuhio Ave Honolulu, HI	3.0	1.0–3.0	1212	$6,652	$5.49	3d	51	0.21mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,400	$4.37	12d	1	0.23mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,200	$4.17	23d	2	0.23mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,150	$4.12	5d	2	0.23mi
2140 Khi Ave. unit Ph 2506 Honolulu, HI	1.0	1.0	678	$3,200	$4.72	16d	1	0.23mi
2140 Khi Ave Honolulu, HI	1.0	1.0	577	$4,500	$7.80	25d	1	0.23mi
2140 Khi AVE Unit 2006 Honolulu, HI	1.0	1.0	553	$3,400	$6.15	4d	1	0.23mi
2140 Khi AVE Unit 803 Honolulu, HI	—	1.0	460	$4,990	$10.85	45d	1	0.23mi
2140 Khi AVE Unit 2306 Honolulu, HI	1.0	1.0	553	$2,700	$4.88	19d	1	0.23mi
417 Kanekapolei St Honolulu, HI	1.0	1.0	566	$1,695	$2.99	45d	1	0.24mi
232 Kaiulani Ave Honolulu, HI	3.0	1.0	656	$3,088	$4.71	25d	8	0.26mi
2407 Tusitala St Unit 304 Honolulu, HI	1.0	1.0	480	$1,500	$3.12	45d	1	0.28mi
2415 Ala Wai Blvd #1802 Honolulu, HI	1.0	1.0	560	$3,000	$5.36	45d	1	0.29mi
2415 Ala Wai Blvd Honolulu, HI	1.0–2.0	1.0	665	$2,750	$4.13	19d	3	0.29mi
2410 Cleghorn St #2403 Honolulu, HI	1.0	1.0	602	$2,500	$4.15	25d	1	0.30mi
2421 Tusitala St #902 Honolulu, HI	2.0	1.0	590	$2,775	$4.70	13d	1	0.32mi
2423 Cleghorn St #204 Honolulu, HI	2.0	1.0	600	$1,595	$2.66	25d	1	0.32mi
2421 Tusitala St Honolulu, HI	1.0–2.0	1.0	590	$2,600	$4.41	45d	2	0.32mi
2440 Khi Ave Unit 1608 Honolulu, HI	1.0	1.0	488	$2,800	$5.74	45d	1	0.34mi
2440 Khi AVE Unit 1412 Honolulu, HI	1.0	1.0	536	$2,700	$5.04	46d	1	0.35mi
2440 Khi AVE Unit 507 Honolulu, HI	1.0	1.0	488	$2,350	$4.82	45d	1	0.35mi
2440 Khi AVE Unit 1710 Honolulu, HI	1.0	1.0	488	$2,600	$5.33	19d	1	0.35mi
2440 Khi AVE Unit 511 Honolulu, HI	1.0	1.0	488	$2,400	$4.92	45d	1	0.35mi
2440 Khi AVE Unit 601 Honolulu, HI	1.0	1.0	537	$2,200	$4.10	5d	1	0.35mi
2440 Khi AVE Unit 601 Honolulu, HI	1.0	1.0	537	$2,200	$4.10	25d	1	0.35mi
2440 Khi AVE Unit 511 Honolulu, HI	1.0	1.0	488	$2,400	$4.92	25d	1	0.35mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	3d	1	0.36mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	13d	1	0.36mi
2452 Tusitala St Honolulu, HI	1.0	1.0	558	$3,000	$5.38	5d	1	0.37mi
2452 Tusitala St Unit 1327721P Honolulu, HI	1.0	1.0	592	$2,960	$5.00	3d	1	0.37mi
500 University Ave Honolulu, HI	1.0–2.0	1.0–2.5	826	$2,650	$3.21	13d	3	0.40mi
223 Saratoga Rd #1012 Honolulu, HI	—	1.0	559	$2,700	$4.83	19d	1	0.41mi

HOA detail condo

• Monthly dues: $1,020 · $12,240/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $285,000 Active 37 DOM
2. 2026-06-18
   days on market $285,000 Active 34 DOM
3. 2026-06-17
   days on market $285,000 Active 33 DOM
4. 2026-06-16
   days on market $285,000 Active 32 DOM
5. 2026-06-15
   days on market $285,000 Active 31 DOM
6. 2026-06-13
   days on market $285,000 Active 29 DOM
7. 2026-06-13
   days on market $285,000 Active 28 DOM
8. 2026-06-10
   days on market $285,000 Active 26 DOM
9. 2026-06-09
   days on market $285,000 Active 25 DOM
10. 2026-06-08
    days on market $285,000 Active 24 DOM
11. 2026-06-07
    days on market $285,000 Active 23 DOM
12. 2026-06-05
    days on market $285,000 Active 20 DOM
13. 2026-06-03
    days on market $285,000 Active 19 DOM
14. 2026-06-02
    days on market $285,000 Active 18 DOM
15. 2026-06-01
    days on market $285,000 Active 17 DOM
16. 2026-05-31
    days on market $285,000 Active 16 DOM
17. 2026-05-15
    listed $285,000 Active 819-char remark
18. 2010-01-14
    soldstatus $240,000 375-char remark

    Show marketing remark (375 chars)

    Rarely available corner unit with 732 sq. ft. in Central Waikiki, just 1 and a 1/2 blocks from the beach! Air conditioning is now available - ask for info! Beautiful pool and BBQ area, extra storage, washer/dryer in unit. Monthly parking available across Kuhio. All this with VA loan available. Where else in Waikiki can you find square footage like this at a price this low?

19. 2010-01-14
    soldstatus $240,000

    Show marketing remark (375 chars)

    Rarely available corner unit with 732 sq. ft. in Central Waikiki, just 1 and a 1/2 blocks from the beach! Air conditioning is now available - ask for info! Beautiful pool and BBQ area, extra storage, washer/dryer in unit. Monthly parking available across Kuhio. All this with VA loan available. Where else in Waikiki can you find square footage like this at a price this low?

20. 2009-12-01
    listed $258,000 375-char remark

    Show marketing remark (375 chars)

    Rarely available corner unit with 732 sq. ft. in Central Waikiki, just 1 and a 1/2 blocks from the beach! Air conditioning is now available - ask for info! Beautiful pool and BBQ area, extra storage, washer/dryer in unit. Monthly parking available across Kuhio. All this with VA loan available. Where else in Waikiki can you find square footage like this at a price this low?

21. 2009-06-15
    historical
22. 2008-12-01
    listed $280,000
23. 2008-09-08
    soldstatus $14,000,000
24. 2008-09-08
    soldstatus $14,000,000
25. 2008-09-08
    soldstatus $124,284
26. 1978-09-01
    soldstatus $48,000

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $1,008 · $84/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 7/10 Severe FEMA zone AE · 95% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $34,628
• − Mortgage interest: −$15,964
• − Property taxes: −$1,008
• − Insurance: −$6,544
• − Repairs & maintenance: −$2,770
• − Management: −$2,770
• − HOA: −$12,240
• − Depreciation: −$8,291
• Taxable loss: −$14,960
• Est. tax savings @ 24.0%: +$3,590
• After-tax cash flow: $-6,780/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): 27,530
• Household income: $77,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 2422.0

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 0.71)
• Race & ethnicity: Asian 41% White 35% Two or more races 16% Hispanic / Latino 6% Pacific Islander 4% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 30% · China, South Korea, Canada
• Languages at home: 66% English-only · Other Asian/Pacific 15% Chinese 5% 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: ▲ 2.74%
• Current HPI: 291.9404
• Rent YoY: ▲ 6.00%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+493.8% since first listed

10 events — show timeline

• 2026-05-15 Listed $285,000 HiCentral MLS
• 2010-01-14 Sold (Public Records) $240,000 Public Records
• 2010-01-14 Sold (MLS) $240,000 HiCentral MLS
• 2009-12-01 Listed $258,000 HiCentral MLS
• 2009-06-15 Listing Removed — HiCentral MLS
• 2008-12-01 Listed $280,000 HiCentral MLS
• 2008-09-08 Sold (Public Records) $124,284 Public Records
• 2008-09-08 Sold (Public Records) $14,000,000 Public Records
• 2008-09-08 Sold (Public Records) $14,000,000 Public Records
• 1978-09-01 Sold (Public Records) $48,000 Public Records

Property tax history

+3.6%/yr

Latest (2022): $1,008 · -0.7% YoY. Source: county tax records.