Nestled on a prime Fernhill location, this freehold property boasts a versatile layout with 5 bedrooms and 2 bathrooms, perfectly suited for rental purposes. Constructed in 1970 with mixed materials for the walls and iron for the roof, it presents a good condition both inside and out. The 151sqm floor area is complemented by a 582sqm land area, providing ample space for a single car park, a large storage area, and a workshop on the lower level. Notably, the property has a capital value of $1,210,000 as of September 2021, showing a significant increase of 31.5% from its $920,000 valuation in July 2017. The HouGarden AVM estimates the property at $1,160,000, while the latest sales were recorded at $1,430,000 in February 2024 and $510,000 in June 2013.
With a CV increase that outpaces the market average, this property is not just an investment but a mortgage buster. It's situated in a quiet cul-de-sac, just a stone’s throw from local amenities and on the bus route, ensuring high occupancy rates and historically great tenants. The low-maintenance property includes electric heating, ceiling and wall insulation, and town supply water, making it an ideal choice for a passive income stream.
For families, the property falls within the highly sought-after school zones of Queenstown Primary School and St Joseph's School, both rated a perfect 10 on the decile scale. This ensures a quality education for children within walking distance from home.
Updated on April 10, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.20 km | 2 | 1 | 110m2 | 2024 04 17 | $800,000 | Council approved | |
 | 0.05 km | 3 | 150m2 | 2024 04 04 | $1,435,000 | Council approved | ||
0.12 km | 4 | 240m2 | 2024 03 22 | $1,450,000 | Council approved | |||
0.07 km | 5 | 133m2 | 2024 03 21 | $1,391,304 | Council approved | |||
0.13 km | 3 | 1 | 100m2 | 2024 02 22 | $905,000 | Council approved |