20 Melrose Place, Tokoroa, South Waikato

Nestled at 20 Melrose Place, in the serene Tokoroa, South Waikato, this residential dwelling on a freehold title boasts a charming presence. Constructed in 1960 with wood exterior walls and an iron roof, the property presents an average condition both inside and out. It stands level on the contour, offering a floor area of 100 square meters and a land area of 857 square meters. The layout includes 3 bedrooms, 1 bathroom, and a single carpark, insulated top to bottom with a heat pump for comfort. This home is well-fenced and features a large living area, along with a double garage and an attached extra room, currently tenanted at $550 per week, promising a gross return over 7.5% at the asking price. The property has seen no change in its capital value since 2018, holding steady at $390,000, while the HouGarden AVM estimates it at $372,500. The latest sale was recorded on 2018-09-26 at $198,000, indicating a potential for value appreciation.

As for the government's valuation, the capital value has remained unchanged from the 2018 figure of $390,000, showing a CV increase of 0.0%. This stability, combined with the property's features, makes it an attractive investment opportunity in Melrose Place.

For families with children, the school zone is a significant plus. The property falls within a highly regarded decile, ensuring access to quality education. This quiet cul-de-sac is an ideal location for raising a family, with schools and educational facilities nearby.

Updated on May 02, 2024