Great Dual Income Property
268 & 268a Malfroy Road, Pomare, Rotorua - $803,600
Fully renovated dual income property with potential to subdivide.
About the Property
Perfect dual income investment with all the work completed. Renovations have been carried out by an award-winning renovator.
House # 1: 268A Malfroy Road , Rotorua
This is a modern, low maintenance three bedroom home. It has been fully renovated with a new kitchen & bathroom, brand new carpet, vinyl and paintwork. There is the added bonus of an attached carport and garden shed.
The home is set on a flat, fully fenced section with its own access off Titoki Place and a concrete driveway.
With three double bedrooms and open plan living / kitchen area as well as being fully insulated and heated by a heat pump, this property will be in hot demand for a tenant.
Along with the home described below, this property is a perfect dual income investment all the work is completed.
House # 2: 268 Malfroy Road, Rotorua
This is a solidly constructed brick & tile home, that has undergone recent renovation. With three bedrooms, good heating and insulation there is nothing else to do.
There is also a single garage and tidy flat section.
At 0% deposit and with 3.5% interest rate (1% higher than the going cheapest rate) these properties project to be cashflow positive by nearly $10,000 pa, that is factoring in property management, rates, insurance and a maintenance budget.
We believe that these would be a relatively straight forward proposition to subdivide and values would be in the high 400's each. You would need to confirm with the council and a valuer of course, however that is good equity to be gained. On today's market values, ignoring any growth in value through the subdivision process, Debbie would expect a value of $950,000+ when subdivided, which would imply that there is equity in the deal based on the purchase price we have secured these for.
Both of these three properties are close to schools, parks and near the bus route to Rotorua town centre.
Close to park and school as well as being on bus route to Rotorua city.
Debbie Van Den Broek
Licensed Salesperson - REAA 2008
021 131 6119