1 min read

Investors $150,000 less than comparable properties

10/94 Matheson Road, Christchurch

Share

LinkedInFacebookTwitter
Copy to clipboard

Copied

576 001

This property is up to $150,000 more affordable than similar properties with a similar number of bedrooms. See the image gallery (above) for a more detailed comparison.

We forecast that the property will have a 267% return on investment over 15 years.

You can download the spreadsheet to check this modelling (details below).

As part of this, a property manager from Venture Management (dated 28 November) has estimated that the property will rent for between $510 per week. That means the property has a gross yield of 4.92%.

But is that a reasonable amount of rent? Tenancy Services estimates (dated 5 December) 25% of 2 bedroom homes in Phillipstown rent for a median of $470pw. So this house is at the premium end of rentals in this suburb.

It's important to note that this is a turnkey property.

Turnkey properties are different from other types of new builds.

They have fewer hidden costs and can be lower risk. See the image gallery (above).

This property is now under construction. The developer expects it will be ready to rent between July - September 2024.

One final thing to note, this property has a freehold (fee simple) title. That means you own the land … you don’t co-own it with your neighbours (like what happens in an apartment).

You can download the property pack, spreadsheet and data mentioned in this description here.

This property vs others on the market

Trade me comparison math 001
The information provided is current as of the release date of this property pack and includes comparable properties for reference purposes only. we strongly recommend conducting your own research and seeking professional advice before making nay property-related decisions.

Related Current properties