140 Melcombe Street, Tinwald, Ashburton

Nestled on a spacious 1062m2 section at 140 Melcombe Street, Tinwald, Ashburton, this freehold property is a charming residential dwelling from the 1950s. It boasts 3 bedrooms, 1 bathroom, and a carpark, with a roughcast exterior and an iron roof in average condition. The interior enjoys an open plan living area, complemented by a supersized 37m2 deck with an inbuilt spa pool. The property has seen a significant Capital Value (CV) increase of 41.18% from $255,000 in 2018 to $360,000 in 2021. The HouGarden AVM estimates it at $335,000, while the latest sale was in 2004 for $120,000. This home is perfect for a family, with its potential for subdivision and upgrade, and is located in a desirable school zone.

With a CV growth rate that outpaces the norm, this property is a sound investment. The latest CV reflects a $105,000 jump from the previous valuation, a trend that's sure to interest investors. The HouGarden AVM provides a conservative estimate, making this property an attractive prospect for potential buyers. The last sale price, though dating back to 2004, illustrates the property's long-term value.

For families with school-aged children, the property falls within the catchment area of several well-regarded institutions, including Villa Maria College (decile 9) and St Thomas of Canterbury College (decile 8). Other nearby schools include Ashburton Christian School and Ashburton College, ensuring a range of educational options for all ages.

Updated on May 09, 2024