50 Manaia Street, Tokoroa, South Waikato

Nestled in the tranquility of a quiet cul-de-sac at 50 Manaia Street, Tokoroa, South Waikato, this residential dwelling on a freehold title offers a promising investment opportunity. Constructed in 1952 with fibrous cement walls and an iron roof, both in average condition, the property sits on an easy-to-moderate rise contour with a floor area of 72 square meters and a land area of 827 square meters. It boasts 2 bedrooms, 1 bathroom, and a single carpark, equipped with a heat pump for comfort. With a government valuation (CV) of $275,000 since 2018, this property has seen no increase in its capital value, making it an affordable option. The HouGarden AVM estimates the property's worth at $255,000, while the latest sales history shows a sale in 2018 for $132,500 and another in 2007 for $88,000.

From a financial perspective, the property's capital value has remained stagnant with a 0.0% increase over the past three years. However, its potential is undeniable, especially considering the previous sale prices and the current rental yield of $250 per week. The open plan kitchen and dining area, along with the potential for improvements, make it an ideal choice for investors or those looking to downsize.

When it comes to education, the property falls within a desirable school zone. Close to various schools, including highly-rated institutions, this home is not only convenient for families but also adds to its investment appeal. With a reduced price, this property is ripe for the picking and is expected to attract a diverse range of buyers.

Updated on May 15, 2024