13.9% UNDER VALUATION, 9% GROSS YIELD WITH POTENTIAL

Listing Number:  2276
Posting Date:  26 June 2013






 
Price:$155,000
Listing:13.9% UNDER VALUATION, 9% GROSS YIELD WITH POTENTIAL
Type:House
Category:Private Sale
Bedrooms:3
Bathrooms:1
Region:Bay Of Plenty
Site Area:908 m2
Address: Login
Building Area:76 m2
Property Image

Description:

$25,000 instant equity! (Verbal valuation of $180k) No money to be spent.

Newly renovated 3bd, 1ba weatherboard home in popular rental area in Western Heights.
New roof, floor coverings, bathroom, drapes, deck and paint inside and out.
Permitted kent style fireplace and insulation to provide a warm and dry home.
Large double garage, plus carport and shed. Fully fenced.

Currently tenanted at $280/wk rent. Rates for 2013 are $1930.


Further opportunites:

This home is in top condition now and ready for tenants or new home owners. However it also has opportunities for investors to increase returns. The section is potentially subdividable and many properties in this area have already done this. I feel that the best option, though, is to add another removal house onto the section and reap the increased income without the bother of subdividing. There is a second driveway curbed from the road which would make it easy to add another entrance.

Alternatively, converting the large double garage into a sleepout would increase rent, or fitting it out with a separate kitchen and bathroom to make a minor dwelling and rent separately.

Amenities:
This property is zoned for Western Heights High School which is an easy walk away. There is a good sized shopping centre within walking distance, including medical centre.

I am selling this as we are moving to Auckland and I don't want to be tied to managing Rotorua rentals by distance.


Please call me if you need any other info.

Helen 021 0590494


Additional Documents:

Click to Download
Description: rental appraisal
File Size: 56 Kilobytes