Profitable and Private for the Family
13 Ngatuku Place, Tokoroa - $113,350
It stacks up, the numbers work!
Entry level three bedroom opportunity with 10% potential gross yield in a sought after area for working families.
Paint and a quick makeover will restore this property to it's former glory, making you money in the process.
A good sized property in a private location. This house has three reasonable size bedrooms and can accommodate a large family. Insulated above the ceiling and fitted with a woodfire to keep your tenants warm in winter.
The kitchen works well and flows to the attached dining area. The interior asks for repainting. The bathroom is tidy and is well set out for a large family with the separate toilet. The bathroom ceiling needs painting. There is a shower over the bath that works well.
The section is flat and fully fenced making it safe for pets and children. There is a large single garage on site attached to a carport with ample of off street parking. The exterior is also in need of a repaint.
Being down a right of way, the house is alarmed to give the tenants the feeling of being private and secure.
This property would make a great starter for a young investor to begin their portfolio, with only a small deposit needed. It is cashflow positive with a potential 11.5% gross yield. It would attract good tenants due to its location.
Estimates for a superficial makeover have been obtained and are set between $5,500 - $7,000.
260m to kindergarten, 520m from Intermediate, 1.3km from high school, 650m to lake reserve, 880m to the hospital, medical centre and pre-school.
An on-going rental shortage means that this will easily rent and after a superficial makeover will attract a quality tenant willing to pay top rent.