Multi-income 7%+ Gross Yield in Feilding – Urgent Sale Required

41 Seddon Street, Feilding - $435,400

This property is situated in what could be described as an up and coming low income area in the lovely town of Feilding ...a town that has won the title as "New Zealand's most beautiful town" sixteen times!

The street has an abundance of state housing styled homes with signs of improvement like new fences, landscaping and painted houses popping up everywhere.


Highlights:

Property Features: 3 Bedroom + 1 Bedroom on 1 Title

  • Price: $435,400
  • Gross Yield: Potential 7%
  • Rental Status: Front unit is tenanted
    Rear unit is vacant
  • Rent Appraisal: $395 - $415 p/w (3 bedroom)
    $225 - $250 p/w (1 Bedroom)
    Total: $620 - $665 p/w
  • Annual Rates: $4,962
  • Estate Type: Freehold
  • Floor Area: 100m2
  • Land Area: 737m2

Are we close?

If this property is not quite what you are looking for, contact the agent today to discuss finding a property directly for you.

About the Property

The property consists of 2 dwellings - a 3 bed and a 1 bed on 1 title.

The front dwelling is a 3 bedroom, 1 bathroom 1950's ex state house with wooden floors, tiled roof and weatherboard cladding. The house has wear and tear so the all in price reflects renovation cost to maximise the return. Heat source is a consented log fire and the dwelling is Insulated top and bottom, is 100m2 and has a double garage.

The 1 bedroom 1990s permitted granny flat at the rear of the property has off street parking and is also insulated top and bottom, aluminium windows and is very tidy.

We’ve allowed $33,000 for renovation work which includes project management. The exciting part of this opportunity is the multi-income, cashflow positive 7% plus gross yield on offer. And a Vendor who has to sell as a matter of urgency to release capital for a development project.

All up price: $468,400.

Email today to find out more about this fantastic opportunity.

Amenities

Feilding with a population of 16,000 is the hub of the Manawatu District with population of 30,000. It is a growing rural servicing town, with largest stock sale yards in the Southern Hemisphere, and is home to a large number of people working in Palmerston North, only 20km away, and nearby Ohakea Military Airbase. Manawatu District is growing with 3,800 more people expected by 2028, along with 1,700 more houses and 2,000 more jobs.

Kate Feeney
Licensed Salesperson - REAA 2008

kate@ifindproperty.co.nz
021 724 892

Contact us about this property

Agent Contact Details

Kate Feeney
Licensed Salesperson - REAA 2008

kate@ifindproperty.co.nz
021 724 892