27% BELOW REG VALUE, PRE TAX CASHFLOW

Listing Number:  1623
Posting Date:  07 October 2009






 
Price:$270,000
Listing:27% BELOW REG VALUE, PRE TAX CASHFLOW
Type:Townhouse
Category:Assignment
Bedrooms:4
Bathrooms:2
Region:Otago
Site Area:105 m2
Address: Login
Building Area:1016 m2
Property Image

Description:

Check out these 3 year old concrete tilt slab construction 4 bedroom modern townhouses in central Dunedin. We have secured them at a huge $100k (27%) discount, which makes these great investments pre-tax cashflow positive!

Purchase Price $270,000
Valuation $345,000 (Capital Value)
Registered Value $370,000
Discount $ $100,000
Discount % 27%
Weekly Rent $420 (current, but potential of upto $640 pw)
Gross Yield 8.1% (at current rent of $420pw)
Pre-tax Cashflow $1,770 p.a. (at current rent of $420pw)
After-tax Cashflow $6,148 p.a.

Year Built 2006
Floor area 105 sqm each unit
Construction Concrete tilt slab
These townhouses are only 3 years old and are in excellent condition. They are centrally located just south of Dunedins main City centre.

Rental Upside
Currently these units are being rented by the room at $420pw total. Whereas the median rent for a room in central Dunedin is $160 (tenancy services market rent infomation) so a total of up to $640pw. Giving a massive upside on yield and cash flow. Even at $130pw per room this would give a gross yield of 10% on the purchase price!
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These properties are currently available by assignment of our contract, on a first in first served basis. Our assignment fee is $8,500 per unit (we will offer discounted fees for purchase of multiple units)

Please email us if you are interested in this property, and we will email you the full property report, with further supporting information and more pictures of the property.
info@propertyinvestorcentre.co.nz or 027 651 3419