Advice how to respond to a homeowner looking to sell his apt unit

[Betty Hahn]

Hello all, 

A homeowner who currently lives in Florida reached out to me looking to sell his 1 bedroom, 1 bath, 615 sq ft apt unit which is located in Honolulu, Hawaii.  Unit is posted as a rental on Zillow.  Please see below details.

Purchased unit: 2014

Assessed value: $343,300

Price: $340,000 plus $5,000 sandwich lease

Mortgage owed: Around $265,000 or $270,000

Monthly mortgage payment: $1650.00 (current)

Monthly rent: $1850.00

Previous tenant: moved out mid October

Renovation: 2016/2017 - full kitchen, cabinet, granite counter top, Samsung dishwasher, over, fridge.

Some bathroom, new sink, blue pearl counter top, sliding door bath tub which was leaking 2 years ago but has been replaced. Installed a barn door near closet area, repainted. NO major problems.

I asked him what his asking price was and he said he didn't really have a number and I asked him what do you think your property is worth or want for it and he said maybe $350,000 or $355,000. I did tell him that I was looking for a price lower, did not give a number.

*I've had an investor tell me that my MAO should be $208,970 which the seller would take a $136,030 loss.

If anyone has a creative strategy please let me know. Thank you.