[SOLD] Cashflow positive meets high quality in Rotorua

7 Cedar Place, Owhata, Rotorua - $222,626

If you prefer to attract a better quality tenant but still be cash flow positive then this property may be for you.


Highlights:

Property Features: 3br + 2ba Home

  • Price: $222,626
  • Gross Yield: 7.7%
  • Capital Value: $155,000
  • Rental Status: $280p/w
  • Rent Appraisal: $320-$330p/w
  • Annual Rates: $2,198
  • Estate Type: Freehold
  • Floor Area: 88m2
  • Land Area: 658m2

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Additional Information

Looking for that better quality home with good yield and room to add value ?

This is an attractive group-style 3 bedroom, 2 bathroom home in a quiet area set on its own full section. The house is constructed of Hardiplank so it is easy to maintain and it is well painted with no pesky sanding and scraping required in the future as you can get with a weatherboard home. The roof is corrugated iron and appears well maintained and in good condition.

The interior feature high ceilings and this gives the home a nice spacious feel. The home is accessed through an internal access carport into the kitchen area to the right and laundry area to the left.

The galley style kitchen is original but tidy and features a stainless steel bench top for extra durability. To add value in the future ( certainly not needed now) the cupboard fronts could be refaced, bench top polished and the small portion of bright yellow bench changed to a more neutral colour and voila a modern kitchen!

The lounge dining area is open plan with the high ceilings giving a nice spacious feel to the area. The carpets appear in good condition and the walls are neutrally painted. Currently there is a wood burner however this is non compliant and will be removed before settlement so some form of heating will need to be installed. A large ranch slider from the lounge opens out on to a lovely sunny wooden deck and private fenced garden, safe for children and pets.

At one end of the home is a double bedroom and bathroom. Just perfect for parents to have privacy away from the children or perhaps having a relative living in the same home. The bathroom has a bath, modern vanity and toilet.

The other end of the home has two more bedrooms with another bathroom area. This bathroom is very tidy but a little more dated, maybe one day in the future a new vanity and modern shower could be installed. To upgrade this end of the home I would suggest that the drapes be replaced with new ones to give that modern luxurious feel, however the current ones are perfectly sufficient.

At the rear of the property is a large 1 1/2 garage that is lined and appears to have power, potentially this could be turned into a sleep out area (subject to council consent). Additionally there is a large garden shed.

The grounds are well maintained and flat as well as being fully fenced.

This is a lovely property in a nice quiet area. The current tenant would love to stay on but is unaware of the current market rent. The property manager who gave the rental appraisal has tenants keen to move in should vacant possession be required.

Amenities

A quiet little dead end street surrounded by what appears to be owner/occupier homes.

Situated off Te Ngae Road and handy to the airport, mown full section in a quiet cul-de-sac near a children's playground. This house would attract a nice family looking to make it their home.

Main highways to Whakatane and Tauranga as well as being close to Te Ngae and Redwoods shopping centres.

A bus stop is nearby. Within 1km of four early childhood centres and within 1.5km of all other levels of schooling

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."