1504 Liholiho St #401 · Urban Honolulu, HI 96822

$349,000

1 bd · 1.0 ba · 501 sqft · Condo public records · 8 Days on market

Built 1970 $697/sqft · 16% below area Est $413k · 16% under $417/mo HOA · 15% of rent ↓ 13% 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 +14.5/15.0
• Cash flow +10.3/30.0
• Appreciation +6.4/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• 1% rule +3.2/10.0
• DSCR +2.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Move-in ready and exceptionally well-maintained, this 1-bedroom, 1-bath corner unit offers a rare combination of features and affordability in the heart of Makiki. Enjoy the convenience of a full-size washer and dryer, assigned parking stall, and split AC units in both the living room and bedroom. The low $417 monthly maintenance fee includes water, sewer, cable TV, and internet—helping keep monthly ownership costs lower than many comparable properties. This 4th-floor corner unit enjoys cool tradewind breezes and a private balcony. Double French doors open from the bedroom to the lanai, creating an inviting indoor-outdoor feel. The home features a fresh, clean interior with updated fi

Key facts

• Double french doors
• Updated finishes
• Private balcony

Tags

• FULL-SIZE WASHER AND DRYER
• ASSIGNED PARKING STALL
• SPLIT AC UNITS
• PRIVATE BALCONY
• DOUBLE FRENCH DOORS
• UPDATED FINISHES

Property features AI

Finance

• Other: Annual tax (2026): $1,080
• Financial info: Total rent: $1,850; Maintenance expense: $417
• HOA & community: Association covers common areas, cable TV, internet, sewer, and water

Exterior

• Parking: Assigned parking (1 space)
• Security: Key card entry
• Home design: 1 story building; Entry level: 4; Building name: 1510 Liholiho; Property condition: Excellent / Good condition
• Construction: Hollow tile and concrete construction
• Exterior features: Key card entry; Fee simple ownership; Zoned A-2 (medium density apartment)

Interior

• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; End unit (common wall on one side)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (17.8% below list).
• Recommended offer: $287k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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.
• Market conditions: Rents rising fast (+5.3%/yr); 182 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 36% 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 $12k of equity ($2k loan paydown + $9k 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $286,923 (17.8% 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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 0.82% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 10.1

CMA / ARV

• ARV (median comp): $413,241
• List price: $349,000
• Delta: -12.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.6%
• Equity multiple: 1.32×
• Total profit: $31,366
• Equity at exit: $151,242

10-year hold

• IRR: 9.9%
• Equity multiple: 2.51×
• Total profit: $147,069
• Equity at exit: $228,757

Cash invested: $97,720 (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: 182
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,869 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$68 /mo · $816/yr
• Insurance: −$145
• HOA: −$417
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-194

Break-even live

Break-even rent $3,115

Max offer price $314,746

Occupancy floor —

Sensitivity live

Price	-10% $4	-5% $-95	+0% $-194	+5% $-293	+10% $-391
Rent	-10% $-421	-5% $-307	+0% $-194	+5% $-81	+10% $33
Rate	-1.0pp $-18	-0.5pp $-105	base $-194	+0.5pp $-284	+1.0pp $-376

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	3d	1	0.12mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	24d	1	0.18mi
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	24d	1	0.29mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	24d	3	0.46mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	21d	1	0.48mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	4d	1	0.55mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	18d	1	0.61mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	44d	1	0.61mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	18d	1	0.61mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	21d	1	0.61mi
1500 Rycroft St Unit 1509R Honolulu, HI	—	1.0	416	$3,000	$7.21	24d	1	0.61mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	24d	1	0.61mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	24d	1	0.61mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	24d	1	0.61mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$3,400	$3.68	18d	2	0.76mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$3,500	$3.81	44d	2	0.76mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	3d	2	0.76mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$2,900	$2.98	15d	2	0.77mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	4d	1	0.78mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	44d	1	0.78mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	24d	1	0.78mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	11d	1	0.78mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	18d	1	0.82mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$3,500	$3.60	4d	2	0.83mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	22d	1	0.89mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	24d	1	0.89mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$3,500	$3.01	4d	4	0.90mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	2d	2	0.93mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	24d	2	0.93mi
909 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	790	$2,700	$3.42	4d	2	0.94mi
1133 Waimanu St #1808 Honolulu, HI	1.0	1.0	556	$2,800	$5.04	12d	1	0.98mi
1133 Waimanu St #405 Honolulu, HI	1.0	1.0	550	$2,700	$4.91	4d	1	0.98mi
987 Queen St Honolulu, HI	1.0	1.0	606	$3,975	$6.56	44d	2	1.05mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	11d	9	1.05mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	17d	8	1.05mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	18d	9	1.05mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$2,700	$3.16	24d	2	1.05mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$2,600	$3.26	22d	3	1.05mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	22d	1	1.11mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	17d	1	1.12mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: watersewerinternetcableparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $349,000 Active 8 DOM
2. 2026-06-18
   days on market $349,000 Active 5 DOM
3. 2026-06-17
   days on market $349,000 Active 4 DOM
4. 2026-06-16
   days on market $349,000 Active 3 DOM
5. 2026-06-15
   remarks 693-char remark
6. 2026-06-15
   pricedays on marketlisting id $349,000 Active 2 DOM
7. 2026-05-19
   price $360,000 1210-char remark
8. 2026-05-14
   price $379,000 1210-char remark
9. 2026-04-14
   price $389,000 1210-char remark
10. 2026-03-25
    listed $399,000 Active 1210-char remark

ⓘ 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: $816 · $68/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$81/yr (+$7/mo · 9.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,431
• − Mortgage interest: −$19,549
• − Property taxes: −$816
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,754
• − Management: −$2,754
• − HOA: −$5,004
• − Depreciation: −$10,153
• Taxable loss: −$8,345
• Est. tax savings @ 24.0%: +$2,003
• After-tax cash flow: $-324/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

-12.5% since first listed

6 events — show timeline

• 2026-06-13 Listed $349,000 HiCentral MLS
• 2026-05-27 Listing Removed — HiCentral MLS
• 2026-05-19 Price Changed $360,000 HiCentral MLS
• 2026-05-14 Price Changed $379,000 HiCentral MLS
• 2026-04-14 Price Changed $389,000 HiCentral MLS
• 2026-03-25 Listed $399,000 HiCentral MLS

Property tax history

-1.6%/yr

Latest (2022): $816 · -3.2% YoY. Source: county tax records.