1/9 Cornwall Road, Mangere, Manukau City

Nestled in the heart of Mangere, this 90m2 residential dwelling at 1/9 Cornwall Road offers a charming lifestyle. Constructed in 1950 with wood walls and tiled roofing, the property boasts 3 bedrooms, 1 bathroom, and a carpark. It sits on a level contour with average wall and roof conditions, and is governed by a Cross-Lease ownership. The property's Capital Value (CV) has seen a rapid increase from $460,000 in 2017 to $670,000 as of 2021, reflecting a growth of 46%. This is a perfect opportunity for those looking to enter the property market or for seasoned investors.

With a HouGarden AVM of $622,500 and a history of sales - $230,000 in 2012 and $171,000 in 2005, this property holds significant potential. It's minutes away from the Mangere town centre, airport, and motorway access, offering both convenience and privacy with its fenced front yard and carport. The open plan living area is ideal for families, and there's potential to create a fourth bedroom. Rental appraisals suggest an income of $570 - $590 per week in the current condition, and up to $740 - $760 if renovated.

For families with children, the property falls within the zone of several schools, including Mangere College (Secondary, Decile 1), Nga Iwi School (Contributing, Decile 1), Mangere Central School (Full Primary, Decile 1), and Sir Douglas Bader Intermediate (Intermediate, Decile 1). This combination of location, potential, and investment return makes it a stand-out choice in the Mangere property market.

Updated on June 19, 2024