2307 A N School St Unit A · Urban Honolulu, HI 96819

$475,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 103 Days on market

Built 1943 3,811 sqft lot $412/sqft · 45% below area Est $867k · 45% under ↓ 5% 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 +15.0/15.0
• Cash flow +11.5/30.0
• Schools +3.7/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT! Bring your contractor to view this development potential in Kahlihi - Located in town with access to Downtown, Airport & Freeway. Please do not enter the property- Listing is for land value only. To be sold "AS IS". Buyer/Buyer's agent to do due diligence in verifying material facts. The proposed sewer lateral plan was approved in July 2024 by the Wasterwater Branch.

Key facts

• 3,811 sq ft lot
• Parking
• Built 1943

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $475k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $447k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (28.3% below list).
• Recommended offer: $340k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Kalihi Waena Elementary School (math 14% / reading 28%, grade F, #157 of 183 statewide, top 87%, 465 students, 64% FRL); Governor Sanford B Dole Middle School (math 8% / reading 24%, grade F, #41 of 42 statewide, top 98%, 530 students, 78% FRL); Governor Wallace Rider Farrington High School (math 17% / reading 57%, grade F, #29 of 43 statewide, top 67%, 2,238 students, 54% FRL) — zoned schools average 65% FRL vs 39% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 41% district-wide (-16 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
• Market conditions: 41 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 41% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 $400k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $340,339 (28.3% 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 103 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.72% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.42%
• DSCR: 0.94
• GRM: 11.6

CMA / ARV

• ARV (median comp): $867,376
• List price: $475,000
• Delta: -45.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 Hauiki St	0.10mi	3/2.0	1,028 (-11%)	16mo	$800,000	$778	60
2211 Kalihi St Unit A	0.72mi	3/2.0	1,008 (-12%)	9mo	$873,000	$866	34

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

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.34×
• Total profit: $-87,216
• Equity at exit: $70,824

10-year hold

• IRR: -11.3%
• Equity multiple: 0.33×
• Total profit: $-89,740
• Equity at exit: $41,069

Cash invested: $133,000 (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 96819

• Active inventory: 41
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $3,403 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$157 /mo · $1,887/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $-157

Break-even live

Break-even rent $3,603

Max offer price $447,185

Occupancy floor 100%

Sensitivity live

Price	-10% $111	-5% $-23	+0% $-157	+5% $-292	+10% $-426
Rent	-10% $-426	-5% $-292	+0% $-157	+5% $-23	+10% $111
Rate	-1.0pp $82	-0.5pp $-37	base $-157	+0.5pp $-281	+1.0pp $-406

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2429 N School St Unit Fd Honolulu, HI	3.0	1.0	750	$2,850	$3.80	25d	1	0.07mi
1674 Kino St Unit 3 Bedroom Honolulu, HI	3.0	1.0	1000	$3,600	$3.60	25d	1	0.19mi
2128 Gertz Ln Unit D Honolulu, HI	3.0	1.0	1100	$3,000	$2.73	13d	1	0.25mi
1905 Naio St #1 Honolulu, HI	3.0	2.0	1000	$3,700	$3.70	19d	1	1.02mi
2182 Makanani Dr Honolulu, HI	3.0	2.0	1067	$4,300	$4.03	25d	1	1.16mi
1835 Akone Pl Unit D Honolulu, HI	3.0	1.0	805	$2,950	$3.66	5d	1	1.24mi
1716 Kuikele St Unit Left 2 Bed Honolulu, HI	2.0	1.0	750	$2,685	$3.58	19d	1	1.44mi
654 N Judd St #658 Honolulu, HI	3.0	2.0	1166	$5,800	$4.97	23d	1	1.48mi

Listing history 43 events

1. 2026-06-21
   days on market $475,000 Active 103 DOM
2. 2026-06-18
   days on market $475,000 Active 100 DOM
3. 2026-06-17
   days on market $475,000 Active 99 DOM
4. 2026-06-16
   days on market $475,000 Active 98 DOM
5. 2026-06-15
   days on market $475,000 Active 97 DOM
6. 2026-06-13
   days on market $475,000 Active 95 DOM
7. 2026-06-13
   days on market $475,000 Active 94 DOM
8. 2026-06-10
   days on market $475,000 Active 92 DOM
9. 2026-06-09
   days on market $475,000 Active 91 DOM
10. 2026-06-08
    days on market $475,000 Active 90 DOM
11. 2026-06-07
    days on market $475,000 Active 89 DOM
12. 2026-06-05
    days on market $475,000 Active 86 DOM
13. 2026-06-03
    days on market $475,000 Active 85 DOM
14. 2026-06-02
    days on market $475,000 Active 84 DOM
15. 2026-06-01
    days on market $475,000 Active 83 DOM
16. 2026-05-31
    days on market $475,000 Active 82 DOM
17. 2026-04-20
    price $475,000 404-char remark

    Show marketing remark (404 chars)

    PRICE IMPROVEMENT! Bring your contractor to view this development potential in Kahlihi - Located in town with access to Downtown, Airport & Freeway. Please do not enter the property- Listing is for land value only. To be sold "AS IS". Buyer/Buyer's agent to do due diligence in verifying material facts. The proposed sewer lateral plan was approved in July 2024 by the Wasterwater Branch.

18. 2026-03-09
    listed $499,000 Active 404-char remark

    Show marketing remark (404 chars)

    PRICE IMPROVEMENT! Bring your contractor to view this development potential in Kahlihi - Located in town with access to Downtown, Airport & Freeway. Please do not enter the property- Listing is for land value only. To be sold "AS IS". Buyer/Buyer's agent to do due diligence in verifying material facts. The proposed sewer lateral plan was approved in July 2024 by the Wasterwater Branch.

19. 2025-12-10
    historical
20. 2025-07-15
    price $550,000
21. 2025-06-08
    price $570,000
22. 2025-05-14
    price $599,000
23. 2025-05-01
    listed $650,000 Active
24. 2023-09-15
    soldstatus $400,000 Sold
25. 2023-09-05
    status Pending
26. 2023-08-11
    listed $460,000 Active
27. 2023-08-10
    historical
28. 2023-08-09
    price $460,000
29. 2023-08-07
    price $475,000
30. 2023-07-31
    price $500,000
31. 2023-06-23
    listed $555,000 Active
32. 2023-06-19
    historical
33. 2023-05-16
    price $555,000
34. 2023-05-04
    listed $575,000 Active
35. 2023-05-01
    historical
36. 2023-04-03
    price $575,000
37. 2022-11-14
    price $549,000
38. 2022-10-31
    price $595,000
39. 2022-10-23
    price $625,000
40. 2022-09-16
    listed $655,000 Active
41. 2022-08-10
    soldstatus $478,000 Sold
42. 2022-05-07
    status Pending
43. 2022-03-21
    listed $500,000 Active

ⓘ 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: $1,887 · $157/mo
• Projected year-2 tax: $1,887 · $157/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: $40,841
• − Mortgage interest: −$26,607
• − Property taxes: −$1,887
• − Insurance: −$2,375
• − Repairs & maintenance: −$3,267
• − Management: −$3,267
• − Depreciation: −$13,818
• Taxable loss: −$10,382
• Est. tax savings @ 24.0%: +$2,492
• After-tax cash flow: $602/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): 50,345
• Household income: $99,848
• Rent vs Own: 49.2% rent · 50.8% own
• Severe rent burden: 1385.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 59% Two or more races 16% Pacific Islander 14% White 7% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Russian 2% Portuguese 1% Romanian 1%
• Foreign-born: 37% · China, Vietnam, South Korea
• Languages at home: 54% English-only · Other Asian/Pacific 26% Tagalog/Filipino 13% Chinese 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: ▼ -409.34%
• Current HPI: 399.7421
• Rent YoY: —
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-5.0% since first listed

27 events — show timeline

• 2026-04-20 Price Changed $475,000 HiCentral MLS
• 2026-03-09 Listed $499,000 HiCentral MLS
• 2025-12-10 Listing Removed — HiCentral MLS
• 2025-07-15 Price Changed $550,000 HiCentral MLS
• 2025-06-08 Price Changed $570,000 HiCentral MLS
• 2025-05-14 Price Changed $599,000 HiCentral MLS
• 2025-05-01 Listed $650,000 HiCentral MLS
• 2023-09-15 Sold (MLS) $400,000 HiCentral MLS
• 2023-09-05 Pending — HiCentral MLS
• 2023-08-11 Listed $460,000 HiCentral MLS
• 2023-08-10 Listing Removed — HiCentral MLS
• 2023-08-09 Price Changed $460,000 HiCentral MLS
• 2023-08-07 Price Changed $475,000 HiCentral MLS
• 2023-07-31 Price Changed $500,000 HiCentral MLS
• 2023-06-23 Listed $555,000 HiCentral MLS
• 2023-06-19 Listing Removed — HiCentral MLS
• 2023-05-16 Price Changed $555,000 HiCentral MLS
• 2023-05-04 Listed $575,000 HiCentral MLS
• 2023-05-01 Listing Removed — HiCentral MLS
• 2023-04-03 Price Changed $575,000 HiCentral MLS
• 2022-11-14 Price Changed $549,000 HiCentral MLS
• 2022-10-31 Price Changed $595,000 HiCentral MLS
• 2022-10-23 Price Changed $625,000 HiCentral MLS
• 2022-09-16 Listed $655,000 HiCentral MLS
• 2022-08-10 Sold (MLS) $478,000 HiCentral MLS
• 2022-05-07 Pending — HiCentral MLS
• 2022-03-21 Listed $500,000 HiCentral MLS

Property tax history

+6.4%/yr

Latest (2022): $1,887 · +0.7% YoY. Source: county tax records.