[SOLD] Cashflow Starter

149B Sunset Road, Mangakakahi, Rotorua - $160,350

Last chance to grab a bargain in a reasonable area! Cash flow & Equity deal.


Highlights:

Property Features: 2 Bedroom

  • Price: $160,350
  • Gross Yield: Potential 8.7%
  • Capital Value: $102,000
  • Registered Value: $170,000 (Verbal)
  • Equity: $10,000
  • Rental Status: $260 p/w
  • Rent Appraisal: $260 - $270 p/w
    Written Appraisal Available to potential purchasers
  • Annual Rates: $2,081
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 70m2
  • Land Area: 1/5 Share in 2547m2

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Additional Information

Cash flow positive by approximately $2,800pa after paying 100% interest only loan at 5%pa, rates and insurance. Then add the equity of at least $20k from this undervalued home on its own fenced property. Not many places under $200k that aren't in F grade areas.

Delightful 2 bedroom unit, part of a block of two. Situated on its own large private section that is fully fenced from the other homes within the cross-lease. Complete with its own private concrete driveway.

There are plenty of mature trees that give this home plenty of privacy and comes complete with a fabulous tenant that would love to stay.

The unit has been fully renovated tastefully with new lino, new carpets and paintwork. Enter through the backdoor into the repainted kitchen with new bench tops and kitchen cabinetry. This tidy kitchen looks out to the large living/dining area that is heated with a heat pump and has ranchslider access onto the private backyard. Each of the bedrooms are accessed off the lounge, both are double, have single wardrobes and good curtains. The bathroom/laundry area has a modern curved glass shower, modern vanity, new toilet and stainless tub.

The grounds are sloping to a flat portion behind the house with a garden shed.

This is a great starter investment property, easy to rent with the potential to add value with landscaping.

Amenities

On bus route to the city and numerous schools are within easy walking distance

QV Property Report 149B Sunset Road Mangakakahi Rotorua.pdf

Rates File 149B Sunset Road Mangakakahi Rotorua.pdf

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

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Agent Contact Details

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

Debbie has been wonderful to work with. She was professional, thorough and has an inside knowledge about the Rotorua market. On top of this she is willing to share her extensive knowledge with her clients as she is on the side of the investor."