Cashflow and Location !! … Everything is done here …. This property is in immaculate condition inside and out.
7 Bedrooms and 2 full bathrooms in total !!
Property consists of a 3 bedroom Solid Weatherboard house with new carpet, paint and chattels. New kitchen with granite benchtop, separate dining area plus 2 separate full bathrooms on a large 647m2 fully fenced section.
There is also a 60m2 insulated sleepout with 4 bedrooms and a lounge next the house, this has been fully renovated with new carpet, paint and fittings.
The property looks fantastic inside and out, house has been repainted outside and gardens done, this property is in as new condition and will attract good quality tenants.
Rental appraisal for the property is $650pw which is 9.0% Gross Yield !!
Registered Valuation is $380,000.
This property is cashflow positive by $140.00pw or $7,210pa (based on 100% borrowing at 6.5% minus all expenses).
Purchase Price: $374,000
Rental Appraisal: $650pw ($33,800pa)
Reg. Valuation: $380,000 (Can be re-addressed for finance)
Gross Yield: 9.0%
Building: 150m2 (90m2 House + 60m2 Sleepout)
Cashflow Positive: $143pw or $7,475pa
The property is well located to amenities, Te Irirangi Drive is at the end of the street with access to Botany and Cavendish Drive where there is access to amenities, shops, malls etc. There is a good range of primary, intermediate and secondary schools close at hand, Manakau Institute of Technology is 5 mins drive away. Flat Bush Development is happening just around the corner, and they are literally spending a Billion dollars in the area over the next few years, so this area is primed for great capital growth. Motorway access North and South is 2 mins drive, and access to the airport is only 10mins away. This property is well situated to amenities.
Interested ? what to do next …
If you do wish to secure this property, please contact us ASAP as it will be sold on a first in first served basis.
- Location: Auckland, Israel Ave
- Price: $374,000
- Valuation or CV: $385,000
- Gross Yield: 9.0%
- Rental Income: $650pw
- Bedrooms: 7
- Bathrooms: 2
- Land Size: 647m2
- Dwelling size: 150m2
- Rates: $1,300.00pa
- Cashflow Positive: $200pw or $10,000pa
- Equity: $11,000
- Property ID: 110
- Deal Status: Sold