620 Sheridan St #404 · Urban Honolulu, HI 96814

$79,900

1 bd · 1.0 ba · 481 sqft · Condo public records · 332 Days on market

Built 1980 $166/sqft · 83% below area $780/mo HOA · 23% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

Key facts

• Renovated bathroom
• Secured building
• Upgraded kitchen

Tags

• UPDATED UNIT
• RENOVATED BATHROOM
• UPGRADED KITCHEN
• SECURED BUILDING
• PET FRIENDLY
• COVERED PARKING STALL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.9% 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 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.
• Market conditions: Rents rising (+3.1%/yr); 549 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $3,320/mo this rent would consume 51% of the median local household income ($78k/yr) (locally 1641% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($552 loan paydown + $2k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $60k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 23% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 4.15% ✓
• Cap rate: 25.90%
• Cash-on-cash: 70.03%
• DSCR: 4.12
• GRM: 2.0

CMA / ARV

• ARV (median comp): $469,954
• List price: $79,900
• Delta: -83.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 70.6%
• Equity multiple: 4.81×
• Total profit: $85,201
• Equity at exit: $31,413

10-year hold

• IRR: 71.1%
• Equity multiple: 9.92×
• Total profit: $199,464
• Equity at exit: $45,157

Cash invested: $22,372 (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 96814

• Home prices YoY: 0.5%
• Rents YoY: 3.1%
• Active inventory: 549
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $3,320 high
• Mortgage (P&I): −$419
• Tax from tax record: −$84 /mo · $1,014/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$780
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $1,239

Break-even live

Break-even rent $1,751

Max offer price $79,900

Occupancy floor 58%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	10d	9	0.54mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	17d	9	0.54mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	15d	8	0.54mi
1000 Auahi St Honolulu, HI	2.0	1.0–2.0	629	$4,425	$7.03	23d	2	0.62mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	23d	1	0.85mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	11d	1	1.20mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	1d	1	1.20mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	23d	1	1.44mi

HOA detail condo

• Monthly dues: $780 · $9,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $79,900 Active 332 DOM
2. 2026-06-17
   days on market $79,900 Active 331 DOM
3. 2026-06-15
   days on market $79,900 Active 329 DOM
4. 2026-06-13
   days on market $79,900 Active 327 DOM
5. 2026-06-13
   days on market $79,900 Active 326 DOM
6. 2026-06-10
   days on market $79,900 Active 324 DOM
7. 2026-06-09
   days on market $79,900 Active 323 DOM
8. 2026-06-08
   days on market $79,900 Active 322 DOM
9. 2026-06-07
   days on market $79,900 Active 321 DOM
10. 2026-06-05
    days on market $79,900 Active 318 DOM
11. 2026-06-03
    days on market $79,900 Active 317 DOM
12. 2026-06-02
    days on market $79,900 Active 316 DOM
13. 2026-06-01
    days on market $79,900 Active 315 DOM
14. 2026-05-31
    days on market $79,900 Active 314 DOM
15. 2026-04-22
    price $85,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

16. 2026-03-19
    price $90,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

17. 2026-02-17
    price $102,900 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

18. 2026-02-10
    price $102,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

19. 2025-12-29
    price $107,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

20. 2025-11-24
    price $113,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

21. 2025-10-24
    price $118,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

22. 2025-09-16
    price $132,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

23. 2025-08-12
    price $135,000 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

24. 2025-07-21
    listed $139,900 Active 890-char remark

    Show marketing remark (890 chars)

    A Solid Option for First-Time Buyers or Investors. Conveniently located near Ala Moana and Kaka‘ako, this updated unit offers a practical opportunity for both first-time buyers and investors. Interior improvements include fresh paint, new vinyl plank flooring, a renovated bathroom, and an upgraded kitchen with modern cabinets, countertops, and fixtures — all designed for low-maintenance living. The secured, pet-friendly building features secured full size and covered parking stall and easy access to public transportation, shopping at Wal Mart, or the Ala Moana Shopping Center and a wide range of nearby eateries and local services. With NO high-cost amenities, monthly maintenance fees are kept manageable. Whether you're looking to move into your first home or add to your rental portfolio, this unit is a clean, straightforward option in a convenient Honolulu location.

25. 2025-01-13
    historical
26. 2024-07-22
    listed $148,000 Active
27. 2013-07-12
    soldstatus $55,303
28. 2005-09-02
    soldstatus $120,000
29. 2004-11-01
    soldstatus $105,000
30. 2004-11-01
    soldstatus $105,000
31. 2004-05-25
    listed $110,000
32. 2002-01-04
    soldstatus $55,000
33. 2002-01-04
    soldstatus $55,000
34. 2001-11-21
    historical
35. 2001-11-09
    listed $60,000
36. 1994-11-01
    soldstatus $121,800
37. 1988-11-30
    soldstatus $70,000
38. 1979-10-01
    soldstatus $63,300

ⓘ 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: $1,014 · $84/mo
• Projected year-2 tax: $1,014 · $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 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $39,834
• − Mortgage interest: −$4,476
• − Property taxes: −$1,014
• − Insurance: −$1,197
• − Repairs & maintenance: −$3,187
• − Management: −$3,187
• − HOA: −$9,360
• − Depreciation: −$2,324
• Taxable income: $15,090
• Est. tax owed @ 24.0%: −$3,622
• After-tax cash flow: $11,248/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): 24,689
• Household income: $77,768
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 1641.0

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 0.58)
• 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%
• Common ancestry: Russian 1% Lithuanian 1% Italian 1%
• Foreign-born: 35% · China, South Korea, Vietnam
• Languages at home: 58% English-only · Other Asian/Pacific 15% Chinese 10% Korean 9%

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

Price history

+34.3% since first listed

24 events — show timeline

• 2026-04-22 Price Changed $85,000 HiCentral MLS
• 2026-03-19 Price Changed $90,000 HiCentral MLS
• 2026-02-17 Price Changed $102,900 HiCentral MLS
• 2026-02-10 Price Changed $102,000 HiCentral MLS
• 2025-12-29 Price Changed $107,000 HiCentral MLS
• 2025-11-24 Price Changed $113,000 HiCentral MLS
• 2025-10-24 Price Changed $118,000 HiCentral MLS
• 2025-09-16 Price Changed $132,000 HiCentral MLS
• 2025-08-12 Price Changed $135,000 HiCentral MLS
• 2025-07-21 Listed $139,900 HiCentral MLS
• 2025-01-13 Listing Removed — HiCentral MLS
• 2024-07-22 Listed $148,000 HiCentral MLS
• 2013-07-12 Sold (Public Records) $55,303 Public Records
• 2005-09-02 Sold (Public Records) $120,000 Public Records
• 2004-11-01 Sold (Public Records) $105,000 Public Records
• 2004-11-01 Sold (MLS) $105,000 HiCentral MLS
• 2004-05-25 Listed $110,000 HiCentral MLS
• 2002-01-04 Sold (Public Records) $55,000 Public Records
• 2002-01-04 Sold (MLS) $55,000 HiCentral MLS
• 2001-11-21 Listing Removed — HiCentral MLS
• 2001-11-09 Listed $60,000 HiCentral MLS
• 1994-11-01 Sold (Public Records) $121,800 Public Records
• 1988-11-30 Sold (Public Records) $70,000 Public Records
• 1979-10-01 Sold (Public Records) $63,300 Public Records

Property tax history

+3.0%/yr

Latest (2022): $1,014 · +2.7% YoY. Source: county tax records.