A 2-bedroom house in Stokes Valley available at $340,000 - well below its current CV of $500,000. The property offers a clear renovation play: invest approximately $60,000 in improvements, target an end value of $520,000, and aim to refinance and recycle your full capital back out again.
The 65m2 house sits on a 679m2 section and has potential to convert to three bedrooms. Currently renting at $550 per week, providing immediate income while you plan and execute the renovation strategy.
| Purchase price | $340,000 |
| Current CV | $500,000 |
| Renovation budget | $60,000 |
| Total capital in | $400,000 |
| Est. end value (post-reno) | $520,000 |
| Weekly rental income | $550 pw |
| Annual gross income | $28,600 pa |
| Bedrooms | 2 (potential 3) |
| Bathrooms | 1 |
| Floor area | 65m2 |
| Land area | 679m2 |
| Est. equity uplift (post-reno) | $120,000+ |
Stokes Valley is a residential suburb in Lower Hutt, part of the Wellington region. It offers affordable entry into the Wellington property market with good access to Lower Hutt amenities, schools, and public transport links into Wellington city.
The area has steady rental demand from families and workers commuting into the wider Wellington region, making it a practical hold for investors focused on long-term equity growth and sustainable rental income.