I currently have 4320 Papu Circle listed* and here's 10 reasons why this Diamond Head listing is such a great deal.
4320 Papu Circle priced at $3,300,000
1. Currently the Lowest Priced Home for sale in Diamond Head
This alone should speak volumes as there's no other home for sale in Diamond Head that's priced less. We'll get in to comps here shortly, however there's actually 4 condos on the market priced higher, another in escrow at the Seabreeze asking $4,150,000 and a combined 1 bed, 2 bath unit at the Colony Surf (1519 sq. ft. interior) that sold for $3,998,000 in May.
2. 4083 Kulamanu St. Sold for $3,300,000
A home on Kulamanu St. (MLS # 202129750) a block away sold for $3,300,000 in March. It was a 3 bed, 2 bath home with 1,771 sq. ft. interior (less than half the size), had no swimming pool, no view and was arguably a tear town.
3. 216 Kulamanu Pl. Sold for $3,550,000
Two blocks away, 216 Kulamanu Place (MLS # 202205156) sold for $3,550,000 in March. This one was a 4 bed, 3 bath with 1,924 sq. ft. with no pool. It was close to the beach, however a SUPER BUSY street with beach traffic. It was also single wall construction.
4. 4345 Papu Circle Sold for $3,500,000
Just down the street, this Papu Circle home (MLS # 202128571) sold in December of last year. It was slightly larger, however had no swimming pool, had an inferior view, the downstairs ceilings were really low and it was also single wall construction.
5. 4126 Papu Circle is Listed at $7,950,000
Around the corner, 4126 Papu Circle (MLS # 202209558) is a beautiful newly constructed home. It sits on a lot the same size as 4320 Papu Circle and although it has all the modern bells and whistles of a new home, it is 2.4 times the price!
6. Average Home Sale in Diamond Head over $5 Million
In the past 6 months, there's been 14 home sales in Diamond Head with an average sales price of $5,107,643
7. Average Home Price in Diamond Head over $7 Million
As of today, there are only 10 homes for sale in Diamond Head (tied the lowest on record we saw back in May) with an average asking price of $7,733,000.
8. Median Sale Price in Diamond Head is $3,264,000
Although the median sales price is just under our asking price, only 1 home that sold under that price was larger than 4320 Papu Circle. It was one on the Historic Register that had restrictions on remodeling and also had a restriction allowing the public on to the property one day a month.
9. Multi-Family Option
This listing has a detached cottage and the option to rent part of the home out separately for additional income to offset a mortgage and/or have available for guests to stay in when they come to town.
10. Papu Circle Location
Papu Circle is a quiet street and also features underground utilities. Lots of the older parts of Diamond Head and Kahala have overhead utilities/telephone poles. What's also great about Papu Circle compared to Kahala and some parts of Diamond Head is the elevation, so you get more cross-ventilation with the trade-winds.
* Listing Agent is also owner and feel free to contact David for more information.