9% Potential Yield & Close to 20% Equity!! | New Zealand Real Estate Investment Property Deals.

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MAREE

Listing:	9% POTENTIAL YIELD & CLOSE TO 20% EQUITY!!
Type:	House
Category:	Double Settlement	Bedrooms:	3
Price:	$149,000	Bathrooms:	1
Region:	Bay Of Plenty	Site Area:	921 m2
Address:	Login	Building Area:	92 m2

Description:

3 bedroom brick home with double carport.
Freehold title 921m2.
Current house situated well in front on flat section.
Possible potential to subdivide (with RDC consent).

Additional Information:
Awesome potential here with this solid home which lends itself to development potential with a large flat section behind the dwelling. Good off-street parking.
Some basic landscaping will also add value.

This property is well presented overall. There are three bedrooms with built-in wardrobes, a shower over the bath and separate toilet & laundry. The kitchen is orginal. Great heating in the lounge with a fairly new woodfire.

The current tenant has been here for SIX YEARS! And she wants to stay! The house is spotless. She is aware that she is paying well under market rent at $195 p/w and mentioned this herself when I was viewing the property. She advised me that comparable properties in the area were renting for "up to $280 p/w" and that she would be prepared to stay on at $265 p/w and is contacting WINZ to see if they will support this. There is just her and her son living in the property. It appears that the home is not currently insulated and the tenant would be happy to pay the increased rent if the future purchaser would provide insulation.

This property is zoned for Western Heights High School and there is also a primary school, shopping centre and medical rooms nearby.

If you are at all interested in this property, please contact Maree (Licensed Salesperson - REAA 2008 for Trusted Assets Realty Ltd) on 027 486 6146 or go to IFindProperty.co.nz for more information.

Additional Photographs: