Very hard to find - three bedroom, two bathroom modern home situated in popular, family friendly Pegasus.
-Single internal access garage
-Well-appointed kitchen and bathrooms
-Sunny aspect with good indoor/outdoor flow
Currently tenanted and returning $430 per week.
Based on a purchase price of $475,000 that's a 4.3% gross return which is at the top end of typical returns for house and land investment properties. This is $4732 per annum cash flow positive (based on our assumptions).
Based on a purchase price of $495,000 it's a 4.1% gross return. This is $4264 per annum cash flow positive (based on our assumptions).
With $22,360 of gross rent per annum, this property makes for a solid starter if you are thinking of becoming a landlord or a simple addition to your existing portfolio.
We are also expecting rental and capital growth in this location over the coming years due to record housing shortages in New Zealand. The recent opening of the Northern Corridor has significantly reduced commute time from North Canterbury into Christchurch.
Contact us if you would like us to provide a 10 year cash & capital forecast of how this property could perform based on historical statistics.
Get your offer in promptly and don't miss out! Cash flow positive rentals are not lasting long in this market.