5/423 Madras Street, Saint Albans, Christchurch

Nestled in the tranquility of a quiet cul-de-sac at 5/423 Madras Street, Saint Albans, Christchurch, this residential ownership home unit boasts a solid concrete construction and an array of appealing features. The 1998-built property offers 2 bedrooms, 1 bathroom, a single carpark, and an impressive 80 square meters of floor area. With an Iron roof and Good wall condition, this Cross-Lease property is a perfect blend of comfort and convenience. The capital value has seen a remarkable increase of 47.22% from $360,000 in 2019 to the current $530,000, reflecting a strong investment potential. The property's contour is level, and it's complemented by a generous exclusive use area and a north-facing courtyard, creating a peaceful living environment.

As for the valuation, the HouGarden AVM estimates the property at $485,000, while the latest sale history shows a transaction at $540,000 in 2024 and $204,000 in 2017. This indicates a steady growth in the property's market value. The location is further enhanced by its proximity to top-rated schools, with Heaton Normal Intermediate and Middleton Grange School (Years 11 - 13) both boasting a decile rating of 9, and Emmanuel Christian School at decile 8, among others.

For families with school-aged children, the property falls within a highly sought-after school zone. Mairehau High School, Christchurch East School, Hagley Community College, and Marian College are among the diverse educational institutions in the area. This property not only promises a comfortable living but also a bright future for its residents.

Updated on December 11, 2024