1400 Pensacola St #505 · Urban Honolulu, HI 96822

$399,000

2 bd · 2.0 ba · 852 sqft · Condo public records · 130 Days on market

Built 1969 $1073/mo HOA · 32% 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 +7.5/15.0
• Appreciation +6.4/10.0
• Cash flow +5.8/30.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0

Listing remarks MLS

Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

Key facts

• Ideal location
• Updated bathrooms
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• IDEAL LOCATION
• NEAR ALA MOANA BEACH PARK
• NEAR ALA MOANA SHOPPING CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-801 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (35.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $336k (15.7% below list).
• Recommended offer: $258k (35.4% below list) — sets the bar for cash-flow.
• Cap rate 3.9% 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 42% 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 $14k of equity ($3k loan paydown + $11k 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 ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $39k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $284k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $257,580 (35.4% 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 130 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — 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: 0.84% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.60%
• DSCR: 0.62
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-412
• Equity at exit: $172,910

10-year hold

• IRR: 5.3%
• Equity multiple: 1.82×
• Total profit: $91,550
• Equity at exit: $261,530

Cash invested: $111,720 (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: 9.9×

Monthly cashflow live

• Estimated rent: $3,362 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$125 /mo · $1,503/yr
• Insurance: −$166
• HOA: −$1,073
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $-801

Break-even live

Break-even rent $4,376

Max offer price $257,580

Occupancy floor —

Sensitivity live

Price	-10% $-575	-5% $-688	+0% $-801	+5% $-913	+10% $-1,026
Rent	-10% $-1,066	-5% $-933	+0% $-801	+5% $-668	+10% $-535
Rate	-1.0pp $-600	-0.5pp $-699	base $-801	+0.5pp $-904	+1.0pp $-1,009

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 Pensacola St #706 Honolulu, HI	1.0	2.0	836	$2,700	$3.23	22d	1	0.03mi
1415 Victoria St Honolulu, HI	2.0	1.0	1000	$3,850	$3.85	46d	1	0.19mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	25d	1	0.20mi
1221 Victoria St #1202 Honolulu, HI	1.0	1.0	813	$3,250	$4.00	0d	1	0.22mi
1221 Victoria St Honolulu, HI	1.0	1.0	813	$3,275	$4.03	25d	2	0.23mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,750	$6.19	0d	1	0.48mi
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	25d	1	0.50mi
1717 Mott-Smith Dr Honolulu, HI	1.0	1.0	875	$3,000	$3.43	5d	1	0.50mi
1617 Keeaumoku St #401 Honolulu, HI	2.0	1.5	773	$3,000	$3.88	19d	1	0.55mi
1267 Rycroft St Honolulu, HI	2.0	1.0	816	$2,750	$3.37	25d	1	0.57mi
801 S King St Honolulu, HI	1.0–2.0	1.0–2.0	726	$2,950	$4.06	0d	2	0.57mi
1214 Nehoa St Unit A Honolulu, HI	2.0	1.0	912	$3,500	$3.84	46d	1	0.57mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	5d	1	0.60mi
1515 Liona St Unit 4401L Honolulu, HI	2.0	2.0	990	$4,900	$4.95	46d	1	0.60mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	16d	1	0.60mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	19d	1	0.60mi
1314 Kalakaua Ave #1202 Honolulu, HI	2.0	2.0	832	$5,000	$6.01	22d	1	0.61mi
1314 Kalakaua Ave #407 Honolulu, HI	2.0	1.0	772	$4,800	$6.22	46d	1	0.61mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	802	$4,900	$6.11	5d	2	0.61mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	25d	3	0.61mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	46d	1	0.64mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	25d	1	0.64mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	25d	1	0.64mi
1500 Rycroft St Unit 800R Honolulu, HI	2.0	2.0	942	$4,700	$4.99	46d	1	0.64mi
1500 Rycroft St Unit 4419R Honolulu, HI	2.0	2.0	1074	$6,000	$5.59	46d	1	0.64mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	19d	1	0.64mi
1500 Rycroft St Unit 4116R Honolulu, HI	2.0	2.0	872	$5,000	$5.73	25d	1	0.64mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	25d	1	0.64mi
1500 Rycroft St Unit 2519R Honolulu, HI	2.0	2.0	1074	$5,300	$4.93	46d	1	0.64mi
1288 Kapiolani Blvd Unit I3306 Honolulu, HI	2.0	2.0	1105	$4,300	$3.89	19d	1	0.64mi
1212 Punahou St #3303 Honolulu, HI	2.0	2.0	1059	$3,400	$3.21	0d	1	0.65mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	25d	1	0.66mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$3,550	$3.64	16d	2	0.66mi
1288 Kapiolani Blvd #1006 Honolulu, HI	2.0	2.0	1105	$4,000	$3.62	5d	1	0.66mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$6,750	$5.81	5d	4	0.67mi
1114 Punahou St Unit 9A Honolulu, HI	3.0	2.0	1037	$3,600	$3.47	19d	1	0.69mi
909 Kapiolani Blvd #1107 Honolulu, HI	1.0	1.0	603	$2,700	$4.48	0d	1	0.73mi
1374 Kapiolani Blvd Unit 1327705P Honolulu, HI	2.0	2.0	796	$5,866	$7.37	0d	1	0.74mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	3d	2	0.74mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	25d	2	0.74mi

HOA detail condo

• Monthly dues: $1,073 · $12,876/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-07
   statusdays on market $399,000 Pending 130 DOM
2. 2026-06-05
   days on market $399,000 Active Under Contract 129 DOM
3. 2026-06-03
   days on market $399,000 Active Under Contract 128 DOM
4. 2026-06-02
   days on market $399,000 Active Under Contract 127 DOM
5. 2026-06-01
   days on market $399,000 Active Under Contract 126 DOM
6. 2026-05-31
   days on market $399,000 Active Under Contract 125 DOM
7. 2026-05-14
   status Active 444-char remark

   Show marketing remark (444 chars)

   Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

8. 2026-05-04
   historical Active Under Contract 444-char remark

   Show marketing remark (444 chars)

   Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

9. 2026-04-15
   price $399,000 444-char remark

   Show marketing remark (444 chars)

   Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

10. 2026-01-26
    listed $438,000 Active 444-char remark

    Show marketing remark (444 chars)

    Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

11. 2026-01-26
    historical

    Show marketing remark (444 chars)

    Come see this well-maintained 2 bdrm/2 bath unit in The Barclay in Makiki. With almost 1,000 sq. ft. of interior living space, this unit features fresh interior paint, new carpet and updated kitchen and bathrooms. Relax and unwind by the pool as you soak in the sun! Ideal location near Ala Moana Beach Park and Ala Moana Shopping Center with an abundance of shopping, restaurants and entertainment! Don’t miss this fantastic opportunity!

12. 2025-11-04
    price $455,000
13. 2025-09-26
    listed $460,000 Active
14. 2005-05-20
    soldstatus $284,000
15. 2003-04-10
    soldstatus $195,000
16. 1982-09-01
    soldstatus $110,000
17. 1982-08-01
    soldstatus $110,000

ⓘ 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: $1,503 · $125/mo
• Projected year-2 tax: $1,503 · $125/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $40,350
• − Mortgage interest: −$22,350
• − Property taxes: −$1,503
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,228
• − Management: −$3,228
• − HOA: −$12,876
• − Depreciation: −$11,607
• Taxable loss: −$16,438
• Est. tax savings @ 24.0%: +$3,945
• After-tax cash flow: $-5,661/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

+262.7% since first listed

11 events — show timeline

• 2026-05-14 Relisted — HiCentral MLS
• 2026-05-04 Contingent — HiCentral MLS
• 2026-04-15 Price Changed $399,000 HiCentral MLS
• 2026-01-26 Listing Removed — HiCentral MLS
• 2026-01-26 Listed $438,000 HiCentral MLS
• 2025-11-04 Price Changed $455,000 HiCentral MLS
• 2025-09-26 Listed $460,000 HiCentral MLS
• 2005-05-20 Sold (Public Records) $284,000 Public Records
• 2003-04-10 Sold (Public Records) $195,000 Public Records
• 1982-09-01 Sold (Public Records) $110,000 Public Records
• 1982-08-01 Sold (Public Records) $110,000 Public Records

Property tax history

+1.8%/yr

Latest (2022): $1,503 · +3.1% YoY. Source: county tax records.