1/279 Innes Road, Mairehau, Christchurch

Nestled in the serene Mairehau neighborhood of Christchurch, this charming property at 1/279 Innes Road boasts a cross-lease title on a level contour. Constructed in 1940 with wooden walls and tiled roofing, it presents an average condition both inside and out. The residence features 3 well-proportioned bedrooms, a family bathroom, a single carpark, and a floor area of 119 square meters. Notably, the capital value has seen a substantial increase of 60%, from $400,000 in 2019 to the current $640,000 as of August 2022. The property's latest sale history includes transactions in 2024 and 2013, with prices of $419,000 and $375,000 respectively. The HouGarden AVM estimates the property's worth at $597,500.

On the financial front, this property offers a promising investment with a CV growth that outpaces the market average. The recent valuation surge indicates a high potential for further value appreciation. Moreover, the 'as-is where-is' basis provides a unique opportunity for repair or rebuilding to suit personal preferences.

For families with school-aged children, the property falls within a highly sought-after school zone. It is in close proximity to Middleton Grange School (Decile 9), Emmanuel Christian School (Decile 8), and other well-regarded institutions. This combination of location, value, and educational opportunities makes it an attractive prospect for both investors and families.

Updated on June 19, 2024