21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES  

  • Well designed, high quality, low maintenance townhouses in strong rental demand location

  • 20 x 2-bedroom townhouses

  • Opportunity for additional capital growth before settlement in late 2020

  • Prices: $415k - $430k

  • The Christchurch market is undervalued based on the historical growth performance and growing gap between Christchurch and national average. In the last 10 years the market grew 40% in value compared to 80% in the prior 10 years. The earthquakes in 2010 and 2011 and city rebuild have interrupted the growth cycle.

21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES

INVESTMENT OVERVIEW

Strategy: Off the plan
Upside: Growth prior to settlement
Rent: Unfurnished / Furnished / AirBNB
Lending: 80% LVR
Deposit: 10%
Deposit type: Cash, equity
Title: Freehold

THE PROPERTY

Type: Townhouse
Beds/Baths: 2+1
Carparks: On street
Valuation: Matches selling prices
Internal floor area: 2 bed 77 - 78 sqm
Land size: 86 sqm - 121 sqm

SUBURB PERFORMANCE

Dwelling type: Townhouses
Market rents 2 bed: $370 - $399 p.w.
Median gross yield: 6.1%
Median sale price 10 years: +56%
Median sale price 20 years: +229%
Capital growth (20 years): 6.5% p.a.

SYDENHAM TOWNHOUSE MARKET PERFORMANCE

Townhouse median sale price Sep 19: $405,000

Townhouse sales volume: 98 per year

Townhouse days to sell: 33

Townhouse sales value: $40 million per year

Market data sources: Real Estate Investar, Tenancy Services, REINZ, One Roof

FIRST HOME BUYERS

Dwelling: 2 bedroom townhouse
Purchase price: $415,000
Deposit: 10%
Weekly cost to own: $465
Occupancy: Sole

FIRST HOME INVESTORS

Dwelling: 2 bedroom townhouse
Purchase price: $415,00
Deposit: 10%
Weekly cost to own: $212
Occupancy: With flatmate/s

PROPERTY INVESTORS

Assessed rent 2 bed: $380 - $470 p.w
Year 1 cashflow: 2 bed +$22 to $64 p.w
DSR: 1.4
Gross yield: 4.7% - 5.3%

PRICE AND AVAILABILITY SUMMARY

ANALYSIS ASSUMPTIONS

  • Loan length: 30 years

  • Interest rate: 3.75%

  • LVR: 100% Investors / 90% Home Buyers

  • Rates: $1,600

  • CPI: 3.0%

  • Capital Growth: 6.3%

  • Valuation: Matches listing prices

  • Legal/Loan fees: $2,000

  • Rent: Market rents appraised by property manager

  • Body Corporate: N/A

  • Property Manager: NIL

  • First Home Buyers/Investors current rent: $370 p.w.

 
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES
 
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES
21 HARGEST CRESCENT, SYDENHAM, CHRISTCHURCH, TOWNHOUSES