1/22 Settlement Road, Papakura, Auckland - Papakura

Nestled in the tranquil Papakura, 1/22 Settlement Road presents a charming residential unit on a cross-lease title. Constructed in 1967 with solid brick walls and an iron roof, this 82sqm, 2-bedroom, 1-bathroom home is a cozy haven for first-home buyers or investors. The property has seen a significant Capital Value increase of 39.13% from $460,000 in 2017 to $640,000 as of June 2021. HouGarden's AVM echoes this figure, while the latest sales history shows a property appreciating from $240,000 in 2007 to $435,000 in 2018. This home not only boasts an average condition roof and walls but also offers a single garage and a tool shed for added convenience. It is located in a prime school zone, with Papakura Intermediate and High School, both decile 1, within walking distance, and other well-rated schools nearby.

With a rental appraisal of $540 - $580 per week, this property is not just a peaceful suburban retreat but also a potentially lucrative investment. The current owner is looking to liquidate their asset, presenting a golden opportunity for the discerning buyer to secure a piece of Papakura's real estate at a potential 6% yield. Don't miss out on this chance to enter the market and benefit from the consistent capital value growth this property has to offer.

For families with school-age children, the property falls within the catchment area of some of Auckland's finest educational institutions. Papakura Intermediate and High School, both decile 1, are mere steps away, while Rosehill Intermediate and College, with deciles 3 and 5 respectively, and Opaheke School, a full primary with a decile 4 rating, provide a range of educational options.

Updated on September 27, 2024