[SOLD] Cashflow & Stability in Tokoroa with Potential to Increase Rent

56 Fergusson Street, Tokoroa - $185,000

2 flats located in a decent area, near parks, kindergarten and a school. Cosmetic do-up will allow rent increases.


Highlights:

Property Features: 1 x 2 Bedroom Flat, 1 x 4 Bedroom Flat

  • Price: $185,000
  • Gross Yield: 8.8% with potential of 10.6%
  • Capital Value: $118,000
  • Rental Status: $140 p/w (2 Bedroom Flat)
    $170 p/w (4 Bedroom Flat)
    TOTAL: $310 p/w
  • Rent Appraisal: $170 p/w (2 Bedroom Flat)
    $210 p/w (4 Bedroom Flat)
    TOTAL: $380 p/w
  • Annual Rates: $3,229 p/a (District & Regional Rates)
  • Estate Type: Freehold
  • Floor Area: 190m2
  • Land Area: 809m2

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Additional Information

This property consists of a flat and fenced section. The dwelling itself is a 2 bedroom flat at the front, with its own driveway, carport and fenced area. The rear flat consists of a 4 bedroom flat with its own driveway and carport and large fenced area. The flats are made from concrete block, so are very solid. Aluminium joinery ensures that maintenance is kept low.

Great news is that the interior and exterior condition appears to be good, however there is always room for a spruce up. This in turn will assist in raising rents.

The front flat could benefit from heating being installed as well as a cosmetic spruce up.

The rear flat has a modern heat pump fitted. It has been recently modernised and is quite spacious. The configuration looks as though this has been 2 x 2 bedroom flats that have been made into one large 4 bedroom flat.

Fergusson Street is a quiet street that borders a nice reserve, fresh water stream and has the large and popular YMCA nearby. There is a rural aspect and a new subdivision nearby.

Amenities

50m to kindergarten, 100m to reserve, 280m to primary school, 780m to intermediate and high school, 860m to medical centre, 760m to shops, 1.8km to CBD

District Rates 56 Fergusson Street Tokoroa.pdf

QV Property Report 56 Fergusson Street Tokoroa.pdf

Regional Rates 56 Fergusson Street Tokoroa.pdf

Rent Appraisal 56 Fergusson St Tokoroa.pdf

iFindProperty Wayne Dickson

Wayne Dickson
Licensed Salesperson - REAA 2008

wayne@ifindproperty.co.nz
027 200 2556

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Agent Contact Details

iFindProperty Wayne Dickson

Wayne Dickson
Licensed Salesperson - REAA 2008

wayne@ifindproperty.co.nz
027 200 2556

We have bought four properties this year, from different agents. We found Wayne Dickson to be the most helpful agent we have ever come across. He gave us a lot of “above and beyond” help. We live out of town, so the help was greatly appreciated.

Wayne also has a team of contacts for almost anything you can think of property wise, which we have utilised. This has saved us hours of time in building a network for our out of town houses.

I would highly recommend dealing with Wayne to anyone, he knows what he’s doing and we feel lucky to have bought a house from him. I would not hesitate to buy from Wayne again in the future.

Matthew Gill

When we decided to sell our investment properties recently, we needed someone we could rely on and trust.

One name came immediately to mind, and as per our expectations, we were not disappointed. Wayne understood our requirements extremely well and carried out our instructions in a professional and timely manner. Liaising with everyone on our behalf, the transactions took place with no hassles, delays or problems.

Wayne provided us with good straightforward service - and always with a smile. I would highly recommend him to anyone wishing to use his services. A+++ rating.

Mike West

I have bought two investment properties through iFind in Tokoroa – so far! Wayne is great to deal with. He is very knowledgeable about the area, a great communicator and trustworthy. As I do not live in Tokoroa it is important for me to have someone local that I can trust to act in my best interest.

I highly recommend Wayne and look forward to working with him a lot more!

Investor Client

We've been very happy with iFindProperty especially your advice around investing outside of cities. Wayne and Fiona have also been great, giving lots of advice highlighting where to invest and where to avoid but particularly the details of the local housing stock and maintenance considerations.

We'll definitely purchase through IFP again