VALUE VAULT
THE ULTIMATE SELL-HIGH STRATEGY
154 Walker Ave, Wahiawa, HI 96786
Prepared For
Heidi & Jason Richard
Prepared By
Justin K. Taparra, RA, MRP
RS-81485 | 808-349-6499
Team Taparra | eXp Realty (RB-21841)
TEAM TAPARRA | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | April 5, 2026
Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Activity vs. Timing
Why the first two weeks matter most
Peak Activity occurs in Weeks 1–2. The chart above reflects a universal truth in residential real estate: buyer interest is highest the moment a property enters the market. The initial surge represents every qualified buyer currently in the market, every agent tracking new inventory, and every algorithm that flags fresh listings. In the Wahiawa market right now, that window is especially critical — the active competition at 216 Walker Ave has been sitting for 491 days. Buyers are watching. Pricing correctly from Day One is not optional.
Price Correctly From Day One
Homes priced at market value capture the full surge of initial buyer attention. This is the window where multiple offers and competitive bidding are possible.
Overpriced Homes Miss the Window
An overpriced listing gets clicks but no offers. Buyers move on. By the time the price drops, the early momentum is gone and market awareness has faded.
Chasing the Market Down
Price reductions signal desperation. Each cut trains remaining buyers to wait for the next one. The seller loses leverage at every step of the negotiation.
"You never get a second chance to make a first impression on the market."
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
The Importance of Pricing
How pricing affects the number of buyers who will see your home
Pricing Pyramid
1
2
3
4
1
15% ABOVE Market
Reaches less than 5% of buyers
2
10% ABOVE Market
Reaches only 10% of buyers
3
5% ABOVE Market
Reaches only 30% of buyers
4
AT Market Value
Reaches 60% of buyers
Why Buyer Pool Size Matters
Every percentage point above market value dramatically narrows the universe of buyers who will even consider your home. Fewer buyers means fewer showings. Fewer showings means less competition. Less competition means a lower final sale price and a longer time on market.
The goal of strategic pricing is to maximize the number of qualified buyers competing for your property simultaneously. When multiple buyers are actively interested at the same time, you gain negotiating leverage, the ability to reject low-ball offers, and a higher probability of an above-asking or clean offer.
In the case of 154 Walker Ave, the cash-only buyer pool is already narrower than conventional listings. That makes capturing every available cash buyer from Day One even more critical. Overpricing this property is not a negotiating strategy — it is a path to sitting unsold alongside the teardown at 216 Walker Ave.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Setting the Price
Two perspectives that must align
The Seller's Perspective
What sellers typically consider when setting a price:
Original purchase price ($398,000 in 2019)
Outstanding mortgage and HELOC balances
Cost of improvements made over time
Desired profit or break-even target
Online automated estimates (Zillow, CoreLogic)
Emotional attachment and personal investment
The Buyer's Perspective
What actually determines what a buyer will pay:
Comparable sold properties — what the market has proven
Current competition — 216 Walker Ave is listed at $590,000 right now
Property condition relative to available alternatives
Financing availability — likely cash only due to condition concerns
Renovation cost estimates and perceived risk of deferred maintenance
Inspection findings, structural concerns, termite and water damage
"The market does not care what you paid. It only cares what a buyer is willing to pay today, based on the alternatives available to them."
Understanding this gap between the seller's frame of reference and the buyer's decision-making process is the foundation of every successful pricing strategy. The numbers in this presentation are designed to bridge that gap with factual, market-based evidence — not opinion. A teardown on the same street has been asking $590,000 for 491 days with zero buyers. That is the loudest voice in the room, and our pricing strategy must speak louder.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Where Your Commission Goes
And why the way realtors are paid actually protects you
The NAR Settlement — What It Actually Means
You may have heard about the National Association of Realtors settlement in 2024. Many sellers now believe they no longer have to offer compensation to a buyer's agent. Here is what actually changed — and what did not.
The settlement was about transparency, not the elimination of buyer agent compensation. It requires that commission terms be clearly disclosed upfront rather than buried in MLS data. That is a good thing. But the fundamental structure of how real estate transactions work in Hawaii has not changed.
As of today, the vast majority of active listings in Hawaii still offer compensation to the buyer's agent. This has been standard practice for over 40 years in our market. The reason is simple: it works.
Paying a Buyer's Agent Is a Marketing Fee
When you offer compensation to a buyer's agent, you are not giving money away. You are making the smartest marketing investment available to you.
By offering buyer agent compensation, you are hiring every licensed real estate agent in Hawaii to market your property to their buyers. And you only pay the ONE agent who actually brings a buyer and closes the deal.
Why Commission-Based Pay Is the Best Structure for Sellers
Real estate commissions are 100% performance-based. If your agent does not sell your home, they do not get paid. Period. The incentives are perfectly aligned: the more you make, the more your agent makes.
With commission-based compensation, the incentives are perfectly aligned:
Motivated to Finish
Your agent is motivated to get the job done, not drag it out.
Motivated to Perform
Your agent is motivated to do it well, because if they do not perform, they do not eat.
Shared Success
The more you make on the sale, the more your agent makes — your success is their success.
Typical Commission Structure
Listing Agent (Team Taparra)
3%
of sale price
Buyer's Agent
3%
of sale price
Commission percentages are negotiable on every transaction. The percentages shown above are for educational purposes. Your specific commission structure is detailed on the Net Proceeds Worksheet.
Buyer Agent Compensation & Transparency
New NAR rules — what every seller needs to know in 2026
What Changed After the NAR Settlement
As of August 2024, the National Association of Realtors settlement introduced two key rule changes. First, buyer's agents must have a signed buyer representation agreement before showing homes. Second, compensation offers can no longer be published in MLS systems. They are now negotiated separately, outside the MLS.
What this means for sellers: you are not required by any rule to offer buyer agent compensation. But the data and practical reality tell a different story.
You Can Still Offer Compensation
Sellers absolutely may — and in most cases should — offer buyer agent compensation. It is negotiated directly between parties and disclosed in the purchase contract, not the MLS. Nothing prevents you from offering it.
Offering Compensation Expands Your Buyer Pool
Many buyers, especially in the cash-investor market, are working with buyer's agents. If your home does not offer compensation, their agent may steer them toward homes that do. In a challenging condition scenario like 154 Walker Ave, every buyer matters.
Not Offering May Limit Exposure
A cash buyer can negotiate to have the compensation built into their offer structure. But if their agent does not bring them to your home in the first place, that negotiation never happens. Compensation is a marketing tool — and in this market, not using it is a risk.
Bottom Line: The NAR settlement changed where compensation is disclosed — not whether it makes sense to offer it. For a property that needs to attract maximum buyer attention in a limited cash-buyer market, offering buyer agent compensation is a strategic advantage, not a concession.
Transparency Is the New Standard
Under the new rules, all compensation must be disclosed clearly and agreed to in writing before any agency relationship begins. Team Taparra follows these standards on every transaction. Your commission structure, the buyer agent compensation offer, and all associated costs are detailed in the Net Proceeds Worksheet at the end of this presentation — in plain language, with no hidden fees.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Subject Property Notes
154 Walker Ave, Wahiawa, HI 96786
Subject property notes are based on Justin Taparra's video walkthrough. Agent has not yet walked the property personally. All observations should be verified during the agent's in-person walkthrough before finalizing.
Property Summary
Overall Condition Assessment
Overall Condition: Below Average. Not a teardown, but needs a full renovation. Likely cash-only buyer due to structural, termite, and water intrusion issues.
Condition Factors
Roof (Positive)
Main roof replaced January 2026 per seller. This is a significant positive. Secondary/covered area roof appears old. Confirm warranty documentation before listing.
Ceilings — Below Average
Bedroom ceilings show significant sagging — tape and/or wood strips coming down. Staining and wear throughout. Open ceilings in kitchen area. High ceilings throughout bedrooms are a positive characteristic, but condition needs addressing.
Interior Paint — Below Average
Different colors in different bedrooms (mismatched). Ceiling paint in kitchen area harsh/rough. Paint drips onto bathroom shower walls and bathtub. Staining and wear visible on ceilings throughout.
Kitchen Condition
Bathroom Condition
Bedrooms, Living Areas & Major Systems
Bedrooms (All 3)
Living & Common Areas
Major Systems & Exterior
Structural, Safety & Disclosure Items
⚠ Structural — Bathroom Floor
Floorboards under bathroom were moving. Owner reinforced with two 4x4 posts but repair was not done well. Wood needs to be properly addressed — this is a safety issue. Structural integrity under bathroom plumbing is compromised.
⚠ Termite Damage — Significant
Plenty of termite damage observed throughout. Visible termite damage to eaves. Wood coming off in areas. Damage visible underneath the house. Termite inspection report will be critical. Treatment/repair costs could be substantial.
⚠ Water Intrusion Through Siding
Water goes into the siding of the house (single wall construction) when it rains hard. Wet conditions observed under/around the home. Single wall construction is particularly vulnerable.
⚠ Jalousie Windows — Operability
Some may be seized (non-operable). Safety concern (egress) and habitability issue.
⚠ Electrical System
All outlets and switches are older. May need updating to current code.
⚠ Bathroom Shutoff Valves
Probably very old. May need replacement.
Positive Features
Large 6,600 SF Lot
Generous for the Wahiawa area. Fee simple ownership. Fully fenced with private gate.
New Roof (Jan 2026)
Main roof replaced January 2026 — a significant advantage over many competing properties in this price range.
Functional Home
Not a teardown. Working washer, functional kitchen and bathroom, fruit trees, approximately 3 parking spaces.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Comparable Market Activity
Wahiawa Area — Single Family Homes
AUTOMATED VALUE ESTIMATES — FOR REFERENCE ONLY
Tax Assessed Value (2026)
$671,700
Land: $615,600 | Building: $56,100
Tax assessments are based on mass appraisal models and often lag behind market conditions. For property tax purposes only — not market value.
Zillow Zestimate
$662,600
Automated algorithm — cannot account for property condition, renovations, structural concerns, or local market nuances. For reference only.
CoreLogic RealAVM
$705,500
Range: $626,700 — $784,400 | Confidence Score: 76 | As of 03/02/2026
Statistical estimate — cannot replace a professional market analysis.
A note on automated estimates: Automated valuations do not account for property condition, renovation status, structural concerns, termite damage, water intrusion, or the competitive landscape of active listings. The comparable market analysis that follows provides a condition-adjusted, agent-verified market value. The $705,500 AVM, for example, does not know about the structural issues under the bathroom, the termite damage throughout, or the teardown sitting on the same street at $590,000 for 491 days.
All Properties Found in Search
Why These 5 Comparables?
We searched all residential sales and listings in the Wahiawa area matching our property type criteria and identified 16 properties. The 5 selected for this analysis (marked with ✦) were chosen based on the closest match to your home in bedroom count, living square footage, lot size, era of construction, and neighborhood proximity. Properties not selected had one or more disqualifying differences — such as a different bedroom/bathroom count, an extreme price tier, an attached unit designation, a much newer build year, or incomplete market data (pending/hold/cancelled with no confirmed sale). The Notes column above explains each exclusion.
16
Properties Found
5
Used in Analysis
4
Active Listings
1
In Escrow / Pending
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
EXTREMELY HIGH WEIGHT
MLS# 202524702
216 Walker Ave, Wahiawa, HI 96786
Comp 1: 216 Walker Ave
Active $590,000 | EXTREMELY HIGH WEIGHT — Most Critical Data Point in This Analysis
This comp carries EXTREMELY HIGH WEIGHT because it is on the same street as the subject with an identical lot size, and it has been sitting unsold for 491 days. This is the single most important data point in the entire analysis. It proves that properties in disrepair on Walker Avenue cannot sell at $590,000 — and any pricing strategy for the subject must account for this active competition.
216 Walker Ave has been listed twice — first at $625,000 (expired after 340 days), then relisted at $590,000 (now 151 additional days with no buyer). The listing agent describes it as tear-down condition. Cash only. Zero accepted offers in 16 months. Every buyer who searches for homes on Walker Avenue will see this property alongside yours. Your pricing must create undeniable differentiation.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
EXTREMELY HIGH WEIGHT
MLS# 202524702
Comp 1 Adjustments: 216 Walker Ave
Active $590,000 | 3/1 | 976 SF Living | 6,600 SF Land | Built 1958 | Slab | Cash Only
This comp carries LOW WEIGHT for valuation purposes because it is an unsold active listing, not a closed transaction. However, it carries the HIGHEST WEIGHT for pricing strategy — it is the direct competition on the same street and the primary reason our recommended list price is $589,000 and not higher.
AS LISTED — LISTING HISTORY
First Listed: 09/23/2024 | OLP: $625,000 | Status: EXPIRED after 340 DOM
Relisted: 11/01/2025 | Current List Price: $590,000 | Current DOM: 151 | CDOM: 491
Price Reduction: -$35,000 between listings
Condition: Tear-down condition per listing agent | Financing: Cash only
Result: 491 combined days on market — NO BUYER AT ANY PRICE
1. Condition Factors
Advantages (Subject Superior)
Advantages Subtotal: +$13,050
Disadvantages (Subject Inferior)
Disadvantages Subtotal: -$50,000
Condition Factors Net: -$36,950
2. Non-Condition Factors
Same street, both inside lots, both Zone D, both Fee Simple, both level, both cash only — NON-CONDITION FACTORS NET: $0
3. Structural & Physical Adjustments
Structural & Physical Net: -$9,200
4. Combined Net Total
Condition
-$36,950
Non-Condition
$0
Structural
-$9,200
COMBINED
-$46,150
MARKET READINESS FACTOR (MRF)
Subject 1.85/10 vs Comp 0.0/10 = Subject rates HIGHER than comp. No MRF deduction applied.
The Market Readiness Factor accounts for the overall presentation gap between the subject property and the comparable. A home that shows better, photographs better, and is more move-in ready commands a premium that pure line-item adjustments do not fully capture. In this case, the subject rates higher than the comp — no deduction is warranted.
AS ADJUSTED TO SUBJECT PROPERTY
Comp List Price: $590,000
Combined Net Adjustment: -$46,150
Market Readiness Factor (MRF): $0 (Subject rates higher — no deduction)
MRF-Adjusted Indicated Value: $543,850
🏠 What This Would Have Looked Like for Your Home
If your home had followed the same market trajectory as this comp...
1
DAY 1 — September 23, 2024
Listed at $578,850 ($625,000 OLP − $46,150 adjustment)
2
DAY 340 — August 29, 2025
Listing EXPIRED after 340 days with no buyer. Not a single accepted offer.
3
DAY 341 — November 1, 2025 (Relisted)
Relisted at $543,850 ($590,000 − $46,150)
Total price drop from original ask: $35,000
4
DAY 491+ — April 5, 2026 — TODAY
STILL ON THE MARKET. No buyer after 491 days at any price.
16+ months. Zero accepted offers. $35,000 in price reductions. Still no buyer.
What Does This Comp Tell Us?
This property sits on the same street as the subject with an identical 6,600 square foot lot — and it has been sitting on the market for a combined 491 days across two separate listings without finding a buyer. Originally listed at $625,000, it expired after 340 days, was relisted at $590,000, and has now been active for another 151 days with no offers. The listing agent describes it as "tear-down condition" and it is restricted to cash buyers only.
This comp sets the absolute floor for Walker Avenue. Even at $590,000, the market has said no. The subject is in meaningfully better condition — functional kitchen, usable bathroom, working washer, and a new roof installed January 2026. But the gap is not as wide as it might seem. The subject still needs a full renovation, has structural concerns, termite damage, water intrusion, and a significant cleanout.
BOTTOM LINE: If a tear-down on Walker Ave cannot sell at $590,000 after 16 months, the subject — while in better shape — must be priced to create clear differentiation. Every buyer who looks at 154 Walker Ave will also see 216 Walker Ave. Pricing at $525,000 — well below the teardown — positions the subject as the clearly superior option at a dramatically better price.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
EXPIRED
LOW WEIGHT
MLS# 202505473
1307 California Ave, Wahiawa, HI 96786
Comp 2: 1307 California Ave
Expired (In Escrow — Deal Fell Through) $699,000 | LOW WEIGHT
This comp carries LOW WEIGHT because the transaction never closed, the listing was handled by a discount brokerage with limited marketing effort, and the property may still be in escrow on a mortgage assumption despite showing as expired. We attempted to contact the listing agent for confirmation but discount brokerages are often difficult to reach. However, this comp still provides important context about the $700,000 price ceiling in the Wahiawa market.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
EXPIRED
LOW WEIGHT
MLS# 202505473
Comp 2 Adjustments: 1307 California Ave
Expired $699,000 | 2/1 | 750 SF Living | 3,500 SF Land | Built 1941 | CPR Single Family | Fully Renovated
This comp carries LOW WEIGHT because it did not close. The deal fell through and the listing expired. It tells us what the market was willing to attempt at $699,000 — but not what it was willing to pay.
AS LISTED
Listed: 02/21/2025 | List Price: $699,000 | DOM: 53
Contract Accepted: 04/14/2025 | Deal fell through — listing expired
Financing Accepted: Cash, Conventional, USDA, VA
Condition: Excellent — fully renovated (AC split, quartz counters, new everything, tile shower floor to ceiling, new vinyl flooring, new windows, new cabinets, new appliances, fresh paint, new baseboards, new electrical, 6-ft vinyl fence)
Listing Brokerage: Discount broker
1. Condition Factors
Advantages (Subject Superior): $0
Disadvantages (Subject Inferior)
Disadvantages Subtotal: -$186,000 | Condition Factors Net: -$186,000
2. Non-Condition Factors
Disadvantages
Financing Eligibility (likely cash only vs. Cash/Conv/USDA/VA): -$10,000
Non-Condition Factors Net: -$10,000
3. Structural & Physical Adjustments
Structural & Physical Net: +$47,350
4. Combined Net Total
Condition
-$186,000
Non-Condition
-$10,000
Structural
+$47,350
COMBINED
-$148,650
MARKET READINESS FACTOR (MRF)
Subject 1.85/10 vs Comp 7.75/10 = 5.9 point gap = 5.9% deduction
Indicated Value before MRF: $550,350 | 5.9% × $550,350 = -$32,471
The Market Readiness Factor accounts for the overall presentation gap between the subject property and the comparable. A home that shows better, photographs better, and is more move-in ready commands a premium that pure line-item adjustments do not fully capture. This percentage deduction bridges that gap.
AS ADJUSTED TO SUBJECT PROPERTY
Comp List Price: $699,000
Combined Net Adjustment: -$148,650
Indicated Value (before MRF): $550,350
MRF Deduction (5.9%): -$32,471
MRF-Adjusted Value: $517,879
🏠 What This Would Have Looked Like for Your Home
If your home had followed the same market trajectory as this comp...
1
DAY 1 — February 21, 2025
Listed at $550,350 ($699,000 − $148,650 net adjustment)
2
DAY 53 — April 14, 2025
Contract accepted
3
DEAL FELL THROUGH — Listing Expired
Even at the adjusted value, the deal could not close. A fully renovated, excellent-condition home at $699,000 could not survive escrow in this market.
What Does This Comp Tell Us?
This fully renovated, turnkey 2-bedroom home was listed at $699,000, went under contract in 53 days, and then the deal fell through and the listing expired. Despite being in excellent condition with AC split, quartz counters, a stunning tile shower, new everything, and qualifying for multiple financing types including USDA and VA, it still could not close at this price point.
This tells us something important about the Wahiawa market right now: even the nicest small homes are facing resistance at the $700,000 level. The subject is a 3-bedroom with a much larger lot, which helps, but its condition is on the opposite end of the spectrum. When a renovated home at $699,000 cannot close, a home needing a complete renovation must be priced aggressively to generate buyer interest.
BOTTOM LINE: If an excellent-condition renovated home could not close at $699,000, a below-average-condition home should not be priced anywhere near that level — regardless of lot size or bedroom count.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
LOW-MEDIUM WEIGHT
MLS# 202507240
1363 California Ave, Wahiawa, HI 96786
Comp 3: 1363 California Ave
Sold $755,000 | LOW-MEDIUM WEIGHT
This comp carries LOW-MEDIUM WEIGHT because while it is a confirmed closed transaction, it is a significantly nicer product than the subject and it closed in October 2025 — making it somewhat stale in the current market. The extended 192-day market time and $20,000 in concessions further reduce its reliability as a direct value indicator. However, its overpricing story is instructive.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
LOW-MEDIUM WEIGHT
MLS# 202507240
Comp 3 Adjustments: 1363 California Ave
Sold $755,000 (Gross) / $735,000 (Net) | 3/1 | 1,040 SF Living | 6,692 SF Land | Built 1961 | Above Average Condition
This comp carries LOW WEIGHT as a confirmed closed sale. It is the overpricing cautionary tale — above average condition, and it still took 192 days, a $41,000 price reduction, and $20,000 in seller concessions to close.
AS SOLD
OLP: $780,000 | LP at Sale: $739,000 | Sold Price: $755,000 (gross)
Seller Concessions: $20,000 (closing cost credit to buyer)
Net Effective Sale Price: $735,000
DOM: 192 | Financing: Conventional
Listed: 03/14/2025 | Escrow: 09/19/2025 | Closed: 10/31/2025
Price Reduction: -$41,000 from original ask ($780,000 → $739,000)
Condition: Above average
1. Condition Factors
Advantages (Subject Superior)
Advantages Subtotal: +$550
Disadvantages (Subject Inferior)
Disadvantages Subtotal: -$132,500 | Condition Factors Net: -$131,950
2. Non-Condition Factors
Disadvantages
Concessions ($20,000 seller closing cost credit): -$20,000
Financing Eligibility (likely cash only vs. Conventional): -$10,000
Non-Condition Factors Net: -$30,000
3. Structural & Physical Adjustments
Structural & Physical Net: -$14,070
4. Combined Net Total
Condition
-$131,950
Non-Condition
-$30,000
Structural
-$14,070
COMBINED
-$176,020
MARKET READINESS FACTOR (MRF)
Subject 1.85/10 vs Comp 5.25/10 = 3.4 point gap = 3.4% deduction
Indicated Value before MRF: $578,980 | 3.4% × $578,980 = -$19,685
The Market Readiness Factor accounts for the overall presentation gap between the subject property and the comparable. A home that shows better, photographs better, and is more move-in ready commands a premium that pure line-item adjustments do not fully capture. This percentage deduction bridges that gap.
AS ADJUSTED TO SUBJECT PROPERTY
Comp Gross Sold Price: $755,000
Combined Net Adjustment: -$176,020
Indicated Value (before MRF): $578,980
MRF Deduction (3.4%): -$19,685
MRF-Adjusted Value: $559,295
🏠 What This Would Have Looked Like for Your Home
If your home had followed the same market trajectory as this comp...
1
DAY 1 — March 14, 2025
Listed at $603,980 ($780,000 OLP − $176,020 net adjustment)
2
~DAY 120 (est.) — July 2025
Price reduced by $41,000. New effective list: $562,980 ($739,000 − $176,020)
3
DAY 192 — September 19, 2025
Contract accepted after 192 days
4
DAY 231 — October 31, 2025
Closed at $578,980 ($755,000 − $176,020)
Minus $20,000 in seller concessions = net $558,980
Total loss from original ask: $45,000 (price reduction + concessions)
Total loss from original ask: $45,000 | Total days from first listing to closing: 231
What Does This Comp Tell Us?
This is the overpricing cautionary tale. This 3-bedroom, 1-bath home with a similar lot size to the subject was originally listed at $780,000 in March 2025. It sat for months, was reduced to $739,000, and finally sold at $755,000 in October 2025 — 192 days after listing. On top of that, the seller provided $20,000 in closing cost credits to the buyer, making the effective sale price $735,000.
The property was in above average condition — better than the subject by a wide margin — and it still took over six months, a price reduction, and $20,000 in concessions to get the deal done. The 192 days on market eroded the seller's negotiating position and ultimately cost them money.
BOTTOM LINE: Overpricing does not just cost time — it costs money. This above-average home had to reduce $41,000 and give back $20,000 in concessions. For a property in below-average condition, overpricing would likely result in even longer market time and deeper cuts. The subject is not in above-average condition. It cannot afford to overprice.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
MEDIUM WEIGHT
MLS# 202517200
464 Iliwai Dr, Wahiawa, HI 96786
Comp 4: 464 Iliwai Dr
Sold $775,000 ($15,000 above listing price) | MEDIUM WEIGHT — Most Important Sold Comp
This comp carries MEDIUM WEIGHT. It is a confirmed closed transaction with a condition profile closer to the subject than any other sold comp. It sold in 6 days for $15,000 above listing price with FHA financing and no concessions, demonstrating strong buyer demand when priced correctly. However, it closed in November 2025, making it a slightly aging comp in the current market.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
MEDIUM WEIGHT
MLS# 202517200
Comp 4 Adjustments: 464 Iliwai Dr
Sold $775,000 | 4/1 | 936 SF Living | 5,000 SF Land | Built 1957 | Average Condition | FHA | 6 DOM
This comp carries MEDIUM WEIGHT as the strongest sold comparable. Average condition (not renovated), sold $15,000 above listing price in just 6 days with FHA financing. The condition closest to what the subject could look like after basic preparation. Most important comp in the entire analysis.
AS SOLD
OLP: $760,000 | SP: $775,000 (sold $15,000 ABOVE listing price) | Concessions: None
DOM: 6 | CDOM: 6 | Financing: FHA
Listed: 09/26/2025 | Escrow: 09/30/2025 | Closed: 11/12/2025
Condition: Average — not renovated, older kitchen, older carpet, jalousie windows, no AC, no ceiling fans
Note: FHA financing confirms this property met FHA minimum property condition standards
1. Condition Factors
Advantages (Subject Superior)
Advantages Subtotal: +$650
Disadvantages (Subject Inferior)
Disadvantages Subtotal: -$133,000 | Condition Factors Net: -$132,350
2. Non-Condition Factors
Disadvantages
Financing Eligibility (likely cash only vs. FHA): -$10,000
Non-Condition Factors Net: -$10,000
3. Structural & Physical Adjustments
Structural & Physical Net: -$950
4. Combined Net Total
Condition
-$132,350
Non-Condition
-$10,000
Structural
-$950
COMBINED
-$143,300
MARKET READINESS FACTOR (MRF)
Subject 1.85/10 vs Comp 6.25/10 = 4.4 point gap = 4.4% deduction
Indicated Value before MRF: $631,700 | 4.4% × $631,700 = -$27,795
The Market Readiness Factor accounts for the overall presentation gap between the subject property and the comparable. A home that shows better, photographs better, and is more move-in ready commands a premium that pure line-item adjustments do not fully capture. This percentage deduction bridges that gap.
AS ADJUSTED TO SUBJECT PROPERTY
Comp Gross Sold Price: $775,000
Combined Net Adjustment: -$143,300
Indicated Value (before MRF): $631,700
MRF Deduction (4.4%): -$27,795
MRF-Adjusted Value: $603,905
🏠 What This Would Have Looked Like for Your Home
If your home had followed the same market trajectory as this comp...
1
DAY 1 — September 26, 2025
Listed at $616,700 ($760,000 OLP − $143,300 net adjustment)
2
DAY 6 — September 30, 2025
Contract accepted at $631,700 ($775,000 − $143,300) — OVER ASKING
+$15,000 above listing price
3
DAY 47 — November 12, 2025
Closed at $631,700 with no concessions
Total gain from asking: +$15,000 | Total days from listing to closing: 47
This is what happens when a home is priced right. The seller listed strategically, generated immediate competition, and sold above listing price in less than a week.
What Does This Comp Tell Us?
This is the most important comp in the set. A 4-bedroom, 1-bath home in average condition — not renovated, older kitchen, older carpet, jalousie windows, no AC, no ceiling fans — was listed at $760,000 and sold for $775,000 in just 6 days. No price reduction. No concessions. The buyer used FHA financing, which means this home passed FHA minimum property condition standards.
The condition of this home is the closest to what the subject could look like after basic cleaning and preparation — but the subject has significant additional issues (structural concerns, termite damage, water intrusion, seized windows, dump shed) that this comp does not. The buyer demand at this price point was immediate and competitive, resulting in a sale $15,000 above listing price.
BOTTOM LINE: When an average-condition Wahiawa home is priced right, it sells fast and the seller has leverage. The subject needs to be priced to generate that same urgency — accounting for its significantly lower condition and likely cash-only buyer pool. This is the outcome we are targeting for 154 Walker Ave.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
MEDIUM WEIGHT
MLS# 202525333
248 Kolekole Dr, Wahiawa, HI 96786
Comp 5: 248 Kolekole Dr
Sold $790,000 ($65,000 above listing price) | MEDIUM WEIGHT
This comp carries MEDIUM WEIGHT. It is the most recent closed sale in the analysis (January 2026) and demonstrates what is possible at the top of the Wahiawa market. However, it is a significantly nicer product than the subject — renovated in 2010 with granite counters, real wood floors, crown molding, 15 owned solar panels, and a multigenerational back unit. The gap between this comp and the subject is substantial, but the fact that it sold $65,000 above listing price in just 10 days reinforces that buyers will compete aggressively for the right property at the right price.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SOLD
MEDIUM WEIGHT
MLS# 202525333
Comp 5 Adjustments: 248 Kolekole Dr
Sold $790,000 | 3/2 | 1,020 SF Living | 3,849 SF Land | Built 1941 (Remod 2010) | Excellent Condition
This comp carries HIGH WEIGHT. While it is a confirmed sale, the renovation gap between it and the subject is enormous — over $120,000 in condition adjustments alone. It establishes the top of the Wahiawa market for renovated product, which the subject emphatically is not.
AS SOLD
OLP: $725,000 | SP: $790,000 (sold $65,000 ABOVE LISTING PRICE) | Concessions: $500
DOM: 10 | CDOM: 10 | Financing: Conventional
Listed: 11/12/2025 | Escrow: 11/22/2025 | Closed: 01/06/2026
Condition: Excellent — renovated with granite counters, real wood floors, crown molding, 15 owned solar panels, flexible back unit for multigenerational living, AC split
1. Condition Factors — Full Line-by-Line
Advantages (Subject Superior): $0
Disadvantages (Subject Inferior) — Complete Line Items
Disadvantages Subtotal: -$181,900 | Condition Factors Net: -$181,900
2. Non-Condition Factors
Disadvantages
Non-Condition Factors Net: -$25,500
3. Structural & Physical Adjustments
Structural & Physical Net: +$10,360
4. Combined Net Total
Condition
-$181,900
Non-Condition
-$25,500
Structural
+$10,360
COMBINED
-$197,040
MARKET READINESS FACTOR (MRF)
Subject 1.85/10 vs Comp 7.50/10 = 5.65 point gap = 5.65% deduction
Indicated Value before MRF: $592,960 | 5.65% × $592,960 = -$33,502
The Market Readiness Factor accounts for the overall presentation gap between the subject property and the comparable. A home that shows better, photographs better, and is more move-in ready commands a premium that pure line-item adjustments do not fully capture. This percentage deduction bridges that gap.
AS ADJUSTED TO SUBJECT PROPERTY
Comp Gross Sold Price: $790,000
Combined Net Adjustment: -$197,040
Indicated Value (before MRF): $592,960
MRF Deduction (5.65%): -$33,502
MRF-Adjusted Value: $559,458
🏠 What This Would Have Looked Like for Your Home
If your home had followed the same market trajectory as this comp...
1
DAY 1 — November 12, 2025
Listed at $527,960 ($725,000 OLP − $197,040 net adjustment)
2
DAY 10 — November 22, 2025
Contract accepted at $592,960 ($790,000 − $197,040) — $65,000 ABOVE LISTING PRICE
3
DAY 55 — January 6, 2026
Closed at $592,960 with only $500 in concessions = net $592,460. Total gain from asking: +$65,000 | Total days from listing to closing: 55
This comp proves the power of strategic underpricing. The seller listed at $725,000 and the market rewarded them with $790,000 — $65,000 ABOVE LISTING PRICE. The subject should follow the same philosophy: price to attract, let the market compete the price up.
What Does This Comp Tell Us?
This renovated 3-bedroom, 2-bath home with 15 owned solar panels, granite counters, real wood floors, crown molding, and a flexible back unit for multigenerational living was listed at $725,000 and sold for $790,000 — $65,000 ABOVE LISTING PRICE in just 10 days. Conventional financing with only $500 in concessions.
This comp represents what is possible at the top of the Wahiawa market for renovated single-family homes. The buyer competition was fierce and the seller captured significant premium value. However, the gap between this home and the subject is enormous. The subject has none of these upgrades, no solar, no second bathroom, no back unit, and needs a complete renovation plus structural and termite remediation.
BOTTOM LINE: The premium this home commanded proves that Wahiawa buyers will pay top dollar for the right product. But the subject is not that product today. The gap between where the subject is and where this comp sits defines the renovation opportunity — and the pricing must reflect the current condition, not the potential.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
ACTIVE COMPETITION — SAME STREET
YOUR COMPETITION
What is happening RIGHT NOW on your street
216 WALKER AVE — THE PROPERTY THAT NOBODY WANTS
Address: 216 Walker Ave, Wahiawa, HI 96786
Status: ACTIVE — UNSOLD
List Price: $590,000
Days on Market: 491 DAYS (across two listings)
Lot Size: 6,600 sq ft (identical to your property)
Condition: Described by listing agent as "tear-down condition"
Financing: Cash only
Result: ZERO accepted offers in 16 months
Why This Is the Most Important Data Point in This Entire Analysis
This property sits on the same street as yours. Same neighborhood. Same lot size. Same buyer pool. And after 491 days and two separate listing attempts, it has not received a single accepted offer at $590,000.
This is the single most important data point in this entire analysis. Every buyer who looks at your home will also see this listing. They will compare. They will ask: why should I pay more (or the same) for another property on Walker Ave when this one has been sitting for over a year?
The answer has to be obvious. Your home must be priced to create immediate, undeniable differentiation. Not $10,000 less. Not $20,000 less. Enough of a gap that a buyer sees your property and says: this is clearly the better deal. That urgency is what generates competitive offers and protects your negotiating position.
Properties that are priced at or above the competition's rejected price inherit the competition's fate: silence. No showings. No offers. Months of sitting. And every week that passes, the property becomes harder to sell — not easier.
What the Data Confirms
"Comp 3 (1363 California Ave) — Overpriced, sat 192 days, required a $41,000 price reduction and $20,000 in concessions"
"Comp 4 (464 Iliwai Dr) — Priced correctly, sold in 6 days, $15,000 ABOVE LISTING PRICE"
"Comp 5 (248 Kolekole Dr) — Priced correctly, sold in 10 days, $65,000 ABOVE LISTING PRICE"
"216 Walker Ave — Overpriced, 491 days, ZERO accepted offers at any price"
THE BOTTOM LINE
216 Walker Ave has proven that $590,000 does not work on Walker Avenue. Your pricing strategy must start well below that number.
The choice is clear: price it right and sell fast with leverage, or price it wrong and sit with the competition.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
THE EFFECT OF OVERPRICING — EXPOSED BY REAL DATA
These are not generic statistics. These are real properties in Wahiawa that prove exactly what happens when you price right versus price wrong.
PRICE IT RIGHT, SELL IN UNDER 2 WEEKS: YOU GAIN 2% TO 9% ABOVE LISTING PRICE
Comp 4 — 464 Iliwai Dr
Listed: $760,000 | Sold: $775,000 | DOM: 6 days
Result: +$15,000 ABOVE listing price (+1.97%)
No price reduction. No concessions. FHA buyer. Seller had full leverage.
Comp 5 — 248 Kolekole Dr
Listed: $725,000 | Sold: $790,000 | DOM: 10 days
Result: +$65,000 ABOVE listing price (+8.97%)
No price reduction. $500 concessions. Conventional buyer. Multiple competing offers.
Both sellers priced below market value. Both sold in under two weeks. Both received offers ABOVE their listing price. The market rewarded them for creating urgency and competition.
PRICE IT WRONG, SIT FOR MONTHS: YOU LOSE 5.6% TO 5.8% FROM YOUR ORIGINAL ASK
Comp 3 — 1363 California Ave
Original List: $780,000 | Reduced To: $739,000 | Sold: $755,000 | Concessions: $20,000 | Net: $735,000 | DOM: 192 days
Result: -$45,000 BELOW original ask (-5.77%)
Price reduction of $41,000 PLUS $20,000 in buyer concessions. Over six months to close. Seller lost leverage at every stage.
Comp 1 — 216 Walker Ave (SAME STREET AS YOUR PROPERTY)
Original List: $625,000 | Reduced To: $590,000 | DOM: 491 days
Result: -$35,000 BELOW original ask (-5.6%) and STILL NO BUYER
Two separate listing attempts. 16 months. Zero accepted offers. The market has rejected this price on Walker Avenue.
Both sellers overpriced. Both sat for months. Both lost money — one through price reductions and concessions, the other through 16 months of carrying costs with no end in sight.
THE REAL COST OF OVERPRICING IN WAHIAWA
The difference between pricing right and pricing wrong in this market: up to 14.7%.
On a $525,000 listing, 14.7% is $77,175.
That is how much overpricing can cost you. Not in theory. In real dollars. From real properties. In your neighborhood. On your street.
✅ PRICED RIGHT
GAINED $15,000 to $65,000 above listing price
Sold in 6–10 days
Full seller leverage
❌ PRICED WRONG
LOST $35,000 to $45,000 below original ask
Sat 192–491 days
Seller leverage gone
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
Strategic Pricing Plan
154 Walker Ave, Wahiawa, HI 96786
MRF-Adjusted Indicated Value Range
SOLD COMP MRF-ADJUSTED RANGE: $559,295 — $603,905
TIGHTENED INDICATED VALUE RANGE: $545,000 — $565,000
Why $525,000 and Not Higher
The data says the home is worth $559K–$604K on paper. But paper value and list price are two different things.
The single most important factor: 216 Walker Ave (Comp 1) — a teardown on the SAME STREET with the SAME 6,600 sf lot — has been sitting at $590,000 for 491 days with no buyer. Every buyer who looks at 154 Walker Ave will also see 216 Walker Ave.
Pricing at $525,000 — $65,000 below the teardown — creates clear, undeniable differentiation. Better condition, functional kitchen, working washer, new roof, and a dramatically lower price. That creates urgency. The data supports $545K–$565K as market value, which means offers above listing price are still below market value. A win for both parties.
This tightened range reflects the listing agent's professional opinion based on 400+ career transactions, accounting for the significant foundation liability (unknown scope, cash-only financing restriction, inspection contingency risk), the extensive cleanout burden with unknown materials, and the active competition on the same street that has been rejected by the market for 491 days. While the raw comparable sales data indicates a broader range, the major liability issues on this property warrant a conservative adjustment to protect the seller from extended market time and aggressive buyer negotiations.
A LA CARTE PRICING MENU — SCENARIO 1 (AS-IS)
Property sold as-is. Vacant. Nothing removed. Foundation not repaired.
$525,000 — Very Aggressive ⭐ RECOMMENDED
Est. DOM: 7–14 days | Est. Sale Price: $535,000 – $555,000
This is our recommended strategy. At $525,000, the property is priced $65,000 below the active teardown on the same street that nobody wants. A cash buyer sees two properties on Walker Ave: one at $590,000 that has been rejected for 16 months, and one at $525,000 that is in better condition with a new roof (January 2026). The choice is obvious. That creates urgency, multiple offers, and competitive bidding.
$535,000 — Aggressive
Est. DOM: 14–21 days | Est. Sale Price: $535,000 – $550,000
Still strong positioning. Creates buyer interest from investors and cash buyers within two weeks.
$545,000 — Moderate
Est. DOM: 14–30 days | Est. Sale Price: $535,000 – $545,000
At the bottom of the indicated value range. Reasonable but less urgency.
$555,000 — Conservative
Est. DOM: 30–60 days | Est. Sale Price: $535,000 – $545,000
At the midpoint of the indicated value range. Risk of extended market time increases.
$565,000 — At Value Ceiling
Est. DOM: 60–120+ days | Est. Sale Price: $535,000 – $545,000
At the top of the indicated value range. High risk of sitting. Buyers in this range expect better condition. Cash buyers will negotiate aggressively.
KEY TAKEAWAY: This analysis assumes the property is sold completely as-is: vacant (tenant has moved out), nothing hauled away, and foundation not repaired. If the property is tenant-occupied at the time of listing, these numbers do not apply — a separate analysis for tenant-occupied conditions would be required, and the values would be lower.
We understand you want to sell the property as-is. Based on our previous conversations, we believe you were planning to remove the personal property and debris anyway. If that is the case, see Scenario 2 below for how that changes the numbers in your favor.
IMPORTANT: This analysis assumes the property is VACANT (tenant has moved out). All values, pricing recommendations, and net proceeds are based on a vacant property. If the property is listed while tenant-occupied, a separate analysis is required and values will be lower.
Sold Comp MRF Range
$559,295 — $603,905
Tightened Indicated Range
$545,000 — $565,000
Recommended List Price
$525,000
Target Closing Range
$535,000 — $545,000
SCENARIO 2: WHAT IF YOU REMOVE EVERYTHING?
If you remove all personal property, debris, yard items, shed contents, and items stored under the house before listing, the $45,000 cleanout penalty is eliminated from the analysis. The property photographs better, shows better, and is more accessible for inspections. The indicated value range increases to approximately $590,000 – $610,000.
However, the property is still cash-only because the foundation has not been repaired. The buyer pool remains limited to investors and cash buyers.
SCENARIO 2 RECOMMENDED LISTING PRICE: $575,000
SCENARIO 2 COMPETITIVE OFFER PRICE: $590,000
YOUR CLEANOUT INVESTMENT RETURN
- Investment: ~$45,000 (professional cleanout — actual quote required)
- Expected increase in indicated value: +$45,000 (direct removal of the cleanout penalty)
- Expected return: 65% to 100% on your investment
- At 65% return: listing price increases by ~$29,250
- At 100% return: listing price increases by ~$45,000
- Either way, the investment more than pays for itself through a higher sale price, faster sale time, and stronger buyer interest
SCENARIO 3: THE LONG-TERM FLIP OPPORTUNITY
If you are open to the conversation: fixing the foundation professionally (estimated $25,000 for repair, plus approximately $5,000 just for the structural engineer's assessment and report) AND removing all personal property (~$45,000) would transform this property's market position entirely.
With the foundation repaired (must be done professionally with a warranty — this cannot be a side job), the property opens up to conventional financing buyers with 20%+ down payments. FHA and VA loans would still be unlikely due to the deteriorated exterior paint condition (lead paint concerns on pre-1978 homes), but the buyer pool expands significantly beyond cash-only.
Total investment: approximately $75,000 ($25,000 foundation + $5,000 engineering report + $45,000 cleanout) Expected return: 65% to 100% on total investment At 65% return: listing price increases by ~$48,750 At 100% return: listing price increases by ~$75,000
Right now, if you sell as-is, a buyer is going to purchase your home below market value, invest their own money into fixing these exact issues, and sell it for a profit. That profit could be yours instead.
We are not building this scenario out in detail because you have communicated that you prefer to sell as-is. But if you are even slightly interested in exploring this path, we can have that conversation and run the full numbers. The upside is significant.
DISCLAIMERS
- This analysis assumes the property is VACANT (tenant has moved out). All values, pricing recommendations, and net proceeds are based on a vacant property. If the property is listed while tenant-occupied, a separate analysis is required and values will be lower.
- The indicated value range of $545,000 – $565,000 reflects the listing agent's professional opinion based on 400+ career transactions and consultation with Raphael Taparra (experienced broker). While the comparable sales data may suggest a broader range, the significant foundation liability, unknown structural scope, extensive cleanout burden, and active competition on the same street warrant a conservative adjustment.
- The structural/foundation adjustment of $50,000 is not solely a repair cost estimate. It accounts for: (a) unknown scope of damage requiring professional engineering assessment ($5,000 for the report alone), (b) elimination of FHA, VA, and most conventional financing options, (c) restriction to cash-only buyer pool, (d) inspection contingency risk where buyers request $30,000–$50,000+ credits, and (e) the overall market impact of a known foundation issue on buyer demand and negotiating leverage.
- The cleanout adjustment of $45,000 includes a risk premium for unknown materials stored under the house and in the inaccessible shed structure, potential environmental concerns, the difficulty and cost of removing items from underneath the home, possible shed demolition, and the deterrent effect on buyer interest.
- Cleanout and foundation repair cost estimates are hypothetical and require professional quotes. Actual costs may be higher or lower.
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
SCENARIO A: AS-IS LISTING
Estimated Net Proceeds Worksheet
154 Walker Ave, Wahiawa, HI 96786 | Prepared for Heidi & Jason Richard | April 5, 2026
SCENARIO 1: AS-IS CONDITION. This worksheet assumes the property is sold vacant (tenant has moved out), with no personal property removed and no foundation repairs. If the property is tenant-occupied at listing, a separate analysis is required.
Two Scenarios
$525,000 / $545,000
Mortgage Payoff
Bank of Hawaii: $316,901.65
Per seller screenshot 03/23/2026. Actual payoff will differ based on per diem interest and closing date.
HELOC Payoff
$91,615.81
Per seller conversation 03/23/2026. Actual payoff may differ.
Conveyance Tax Note
At $600,000 the conveyance tax is 0.15% ($900). If the sale price exceeds $600,000, the rate jumps to the 0.25% bracket, which would increase this line item significantly.
IMPORTANT DISCLAIMER: This is an ESTIMATE only. Actual net proceeds may vary. Escrow will provide a more accurate version 1–2 weeks after an offer is accepted.
Net at $525,000
~$79,571
Net at $545,000 (Recommended Close)
~$98,453
Important Notes & Disclaimers
- *Mobile Notary Fee: Waived if sellers sign at the Title Guarantee escrow office.
- **Conveyance Tax: Using non-owner-occupied rates (property is tenant-occupied). At $600,000, the rate is 0.15%. If the sale price exceeds $600,000, the rate jumps to 0.25%, which would increase this line item significantly. Confirm rates with escrow officer at Title Guarantee.
- ***HARPTA: N/A — seller confirmed as Hawaii resident. If residency status changes, HARPTA withholding of 7.25% of gross sale price applies.
- FIRPTA: N/A — seller is a US citizen.
- Capital Gains Tax: TBD — consult with a licensed CPA. Seller purchased the property for $398,000 on May 9, 2019. This worksheet does not provide tax advice.
- Mortgage Payoff: Based on seller-provided statement dated 03/23/2026. Actual payoff will differ based on per diem interest and closing date.
- HELOC Payoff: Based on seller conversation dated 03/23/2026. Actual payoff may differ.
- Commission amounts include Hawaii General Excise Tax (GE Tax) at 4.712%. Team Taparra: 2.7% + GE Tax (effective rate after 10% loyalty discount). Buyer's Agent: 2.5% + GE Tax.
- Seller should provide the final closing statement to their CPA for tax purposes.
- THIS IS AN ESTIMATED NET PROCEEDS WORKSHEET. ALL FIGURES ARE APPROXIMATE AND SUBJECT TO CHANGE. ESCROW PROVIDES THE FINAL CLOSING STATEMENT. CONSULT A LICENSED CPA FOR ALL TAX QUESTIONS.
- †Mobile Notary Fee: $0 if sellers sign at the Pearl Ridge escrow office. $200 if mobile notary is required.
Justin K. Taparra, RA, MRP | RS-81485 | (808) 349-6499 | justin@teamtaparra.com
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | April 5, 2026 | Prepared Exclusively for Heidi & Jason Richard
SCENARIO B: THE SMART INVESTMENT
SCENARIO 2: EVERYTHING REMOVED, FOUNDATION NOT FIXED
What if you invested in cleaning up the property before listing?
Every dollar invested in preparation is expected to return approximately 2x in sale price.
THE CLEANOUT INVESTMENT
Cleanout Investment: ~$30,000 (professional quote required)
Foundation: NOT repaired (still cash-only buyers)
Expected return on cleanout: 65% to 100%
Scenario 1 Listing Price: $525,000
Scenario 2 Listing Price: $590,000–$600,000
By investing approximately $30,000 in professional property cleanout — removing all personal property, debris, yard items, shed contents, and items stored under the house — the property presents cleaner, photographs better, and appeals to a wider buyer pool. This positions the listing at approximately $600,000, capturing significantly more in sale price while only costing $30,000.
YOUR CLEANOUT INVESTMENT RETURN
Investment: ~$30,000 (professional property cleanout)
Scenario 1 Net Proceeds (as-is at $525K): $80,422
Scenario 2 Net Proceeds (cleaned, $590K sale): ~$110,936
At the $600K sale price: ~$120,377
The cleanout investment pays for itself AND puts additional money in your pocket
The math is simple: invest $30,000 in cleanout, and your net proceeds increase. But the real value is not just dollars — it is speed. A clean property sells faster. A property buried in debris sits. Every week on market costs you carrying costs, stress, and negotiating leverage.
This does not include the added benefits of faster sale time, a more competitive buyer pool, stronger showing presentation, and the possibility of multiple offers driving the sale price even higher
This does not include the added benefits of faster sale time, a broader and more competitive buyer pool, potential financing eligibility beyond cash-only, a stronger negotiating position, and the possibility of multiple offers driving the final sale price even higher — as we saw with Comp 4 ($15,000 over asking) and Comp 5 ($65,000 over asking) in this analysis.
*Mobile Notary Fee: Waived if sellers sign at the Title Guarantee escrow office.
**Conveyance Tax: At $590,000 and $600,000, the non-owner-occupied rate is 0.15% (properties selling below $600,000). Confirm rates with escrow officer at Title Guarantee.
Professional Cleanout: The $30,000 figure is an estimate. An actual quote from a licensed hauling company is required before committing to this investment. Actual costs may be higher or lower depending on the volume of material, accessibility, and disposal requirements.
The 2x return estimate (every $1 invested returns approximately $2 in listing price) is based on comparable market analysis and the agent's professional opinion. It is not a guarantee of increased sale price.
Mortgage payoff based on seller-provided statement dated 03/23/2026. HELOC payoff based on seller conversation dated 03/23/2026. Actual payoffs will differ based on per diem interest and closing date.
Title insurance and escrow fees are pending confirmation with Title Guarantee.
Commission amounts include Hawaii General Excise Tax (GE Tax) at 4.712%. Team Taparra: 2.7% + GE Tax (effective rate after 10% loyalty discount). Buyer's Agent: 2.5% + GE Tax.
THIS IS AN ESTIMATED NET PROCEEDS WORKSHEET. ALL FIGURES ARE APPROXIMATE AND SUBJECT TO CHANGE. ESCROW PROVIDES THE FINAL CLOSING STATEMENT. CONSULT A LICENSED CPA FOR ALL TAX QUESTIONS.
YOUR ROAD MAP TO CLOSING
154 Walker Ave, Wahiawa, HI 96786
Two paths to the same destination — choose the one that fits your goals.
SCENARIO A: LIST AS-IS
Fastest path to market. Sell the property in its current condition.
PHASE 1: AGREEMENT & PREPARATION
April 7 — Listing Presentation: "We walk through the market analysis, review the data, and align on strategy."
April 9 — Listing Agreement Signed: "We are officially partners. The journey begins."
April 13 — 45-Day Notice to Tenant: "Clock starts. Tenant has until May 28 to vacate."
PHASE 2: TRANSITION
May 15 — Tenant's Purchase Completes: "Tenant's new property closes. Move-out preparations begin."
May 28 — Property Vacant: "No later than this date. The home is ours to prepare."
PHASE 3: LAUNCH SEQUENCE
May 31 — Final Walkthrough: "Seller and agent walk the property together one last time before going live."
June 1 — Professional Photography: "Drone aerials and ground-level shots captured."
June 2 — Professional Video: "Cinematic property video filmed on site."
June 3 — GO LIVE ON MLS: "All marketing deployed. Listing price: $525,000."
June 6 — Video Published: "Professional video finalized and added to the listing."
Open House: TBD — "Dependent on property condition and structural safety assessment."
PHASE 4: THE MARKET RESPONDS
June 3–July 3 — Active Marketing Period: "Targeted outreach to investors, cash buyers, and agents."
July 3 — Accepted Offer (Target): "Estimated sale price: $535,000–$545,000"
PHASE 5: FINISH LINE
July 3–August 18 — Escrow Period: "Inspections, title, and final preparations."
August 18 — CLOSING DAY: "Keys transferred. Proceeds wired. You are done."
SCENARIO A SUMMARY
Listing Price: $525,000
Est. Sale Price: $535,000–$545,000
Timeline: ~134 days
Cleanout Cost: $0 (sold as-is)
SCENARIO B: CLEAN IT UP, CASH IN
Invest in preparation. Command a higher price.
PHASE 1: AGREEMENT & PREPARATION
April 7 — Listing Presentation: "We walk through the market analysis, review the data, and align on strategy."
April 9 — Listing Agreement Signed: "We are officially partners. The journey begins."
April 13 — 45-Day Notice to Tenant: "Clock starts. Tenant has until May 28 to vacate."
PHASE 2: TRANSITION
May 15 — Tenant's Purchase Completes: "Tenant's new property closes. Move-out preparations begin."
May 28 — Property Vacant: "No later than this date. The home is ours to prepare."
PHASE 3: THE TRANSFORMATION
May 29 — Professional Cleanout Begins: "Licensed hauling crew removes all personal property, debris, yard items, shed contents, and items stored under the house."
June 18 — Cleanout Complete: "Property is cleared, cleaned, and ready to photograph."
NOTE: If the seller also chooses to pursue foundation repair (Scenario 3), add approximately 30–60 additional days for the structural engineer assessment ($5,000 for the report alone), investigation, and professional remediation with warranty. Structural engineers are not available on short notice — the assessment alone will likely take 30 days to schedule and complete.
THE CLEANOUT INVESTMENT: Every dollar invested in professional removal is expected to return approximately 2x in listing price. A $45,000 cleanout investment would support an estimated $50,000 increase in listing price. Buyers pay more for a property they can envision themselves in. A clean home photographs better, shows better, and attracts a wider buyer pool — including those who qualify for financing beyond cash-only.
PHASE 4: LAUNCH SEQUENCE
June 18 — Final Walkthrough: "Seller and agent walk the freshly cleared property together."
June 19 — Professional Photography: "Drone aerials and ground-level shots of a clean, presentable property."
June 20 — Professional Video: "Cinematic property video — no clutter, no debris, just potential."
June 22 — GO LIVE ON MLS: "All marketing deployed. Listing price: ~$575,000 (assuming $45,000 cleanout)."
June 25 — Video Published: "Professional video finalized and added to the listing."
Open House: TBD — "With the property cleaned out, an open house becomes a real possibility."
PHASE 5: THE MARKET RESPONDS
June 22–July 22 — Active Marketing Period: "Wider buyer pool. Cleaner presentation. Stronger first impression."
July 22 — Accepted Offer (Target): "Estimated sale price: higher than Scenario A due to improved presentation and broader buyer appeal."
PHASE 6: FINISH LINE
July 22–September 5 — Escrow Period: "Inspections, title, and final preparations."
September 5 — CLOSING DAY: "Keys transferred. Proceeds wired. You are done."
SCENARIO B SUMMARY
Listing Price: ~$575,000
Est. Sale Price: Higher than Scenario A
Timeline: ~150 days (+16 days)
Cleanout Cost: TBD
Expected Return: ~2x cleanout investment
WHICH PATH IS RIGHT FOR YOU?
Both scenarios lead to a successful closing. Scenario A is the fastest path — minimal investment, sell as-is, and let the buyer handle the cleanup. Scenario B requires an upfront investment and adds approximately 16 days to the timeline, but positions the property to command a significantly higher price, attract a broader buyer pool, and potentially qualify for financing beyond cash-only. Your Team Taparra agent will help you evaluate the cleanout cost, get professional quotes, and make the decision that maximizes your bottom line.
All dates are estimates based on current market conditions, assumed timelines, and seller/tenant cooperation. Actual dates may shift based on tenant move-out timing, cleanout scheduling, buyer activity, financing timelines, and other factors outside of our control. The cleanout cost-to-value ratio (2x return) is an estimate based on comparable market data and is not a guarantee of increased sale price. This timeline is not a guarantee of any specific outcome, sale price, or closing date. Prepared by Justin K. Taparra, RA, MRP | RS-81485 | Team Taparra, Brokered by eXp Realty (RB-21841).
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026
NET PROCEEDS SUMMARY
154 Walker Ave, Wahiawa, HI 96786 | Heidi & Jason Richard | April 5, 2026
Prepared by Justin K. Taparra, RA, MRP | RS-81485 | Team Taparra | eXp Realty (RB-21841)
This summary shows estimated net proceeds under two scenarios. All figures are estimates. Escrow provides the final closing statement. Consult a licensed CPA for all tax questions. Property purchased for $398,000 on May 9, 2019.
SCENARIO 1 — AS-IS: ~$79,571
List ~$525K | No cleanout | Foundation as-is
SCENARIO 2 — CLEANED UP: ~$120,377
List ~$600K | ~$30K cleanout investment | Foundation as-is
†Mobile Notary Fee: $0 if signing at Pearl Ridge escrow office. $200 if mobile notary required. Mortgage payoff per seller statement 03/23/2026. HELOC payoff per seller conversation 03/23/2026. Actual payoffs differ based on per diem interest and closing date. Commission amounts include Hawaii General Excise Tax (GE Tax) at 4.712%. Team Taparra effective rate: 2.7% + GE Tax (after 10% loyalty discount). Buyer's Agent: 2.5% + GE Tax. Conveyance Tax: non-owner-occupied rate 0.15% (below $600K threshold). Confirm with escrow officer. Capital Gains Tax: TBD — consult licensed CPA. Property purchased $398,000 on 05/09/2019. Cleanout estimate of $30,000 requires professional quote. Actual cost may vary. THIS IS AN ESTIMATED NET PROCEEDS WORKSHEET. ALL FIGURES ARE APPROXIMATE AND SUBJECT TO CHANGE. ESCROW PROVIDES THE FINAL CLOSING STATEMENT. CONSULT A LICENSED CPA FOR ALL TAX QUESTIONS.
Justin K. Taparra, RA, MRP | RS-81485 | (808) 349-6499 | justin@teamtaparra.com
Team Taparra | Serviced at the HIGHEST Level | Brokered by eXp Realty (RB-21841) | Prepared Exclusively for Heidi & Jason Richard | April 5, 2026