24 KELWYN RD, KELSTON, AUCKLAND, TOWNHOUSES  

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

  • 7 x 1 and 2-bedroom townhouses

  • Opportunity for additional capital growth before settlement in late 2020

  • Prices: 1 beds $499k - $510k, 2 beds $635k - $645k

  • The West Auckland market is a consistent long term performer.

  • Extensive investment in public transport and motorway widening is progressively reducing commuting times to the CBD

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: 1 off street
Valuation: Matches selling prices
Internal floor area: 1 bed 57 - 58 sqm, 2 bed 77 - 80 sqm
Land size: 1 bed 56 - 69 sqm, 2 bed 65 - 128 sqm

SUBURB PERFORMANCE

Dwelling type: Townhouses
Market rents 1 bed: $365 - $405 p.w.
Market rents 2 bed: $450 - $485 p.w.
Median gross yield: 4.4%
Median sale price 10 years: +127%
Median sale price 20 years: +335%
Capital growth (20 years): 8.0% p.a.

Kelston TOWNHOUSE MARKET PERFORMANCE

Townhouse median sale price August 19: $730,000

Townhouse sales volume: 55 per year

Townhouse days to sell: 43

Townhouse sales value: $38 million per year

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

FIRST HOME BUYERS

Dwelling: 1 bedroom townhouse
Purchase price: $499,000
Deposit: 10%
Weekly cost to own: $537
Occupancy: Sole

FIRST HOME INVESTORS

Dwelling: 2 bedroom townhouse
Purchase price: $635,000
Deposit: 10%
Weekly cost to own: $327
Occupancy: With flatmate/s

PROPERTY INVESTORS

Assessed rent 1 bed: $445 - $510 p.w
Assessed rent 2 bed: $510 - $600 p.w
Year 1 cashflow: 1 bed +$38 to $57 p.w
Year 1 cashflow: 2 bed +$1 to $23 p.w
DSR: 1.2 - 1.3
Gross yield: 4.1% - 4.7%

PRICE AND AVAILABILITY SUMMARY

Note: The NSA/Net Sqm/Int. SQM area is calculated from the mid-point of the inter-tenancy wall to the external face of the façade as per PCNZ Guidelines.

ANALYSIS ASSUMPTIONS

  • Loan length: 30 years

  • Interest rate: 3.75%

  • LVR: 100% Investors / 90% Home Buyers

  • Rates: $2,000 - $2,500

  • CPI: 3.0%

  • Capital Growth: 8.0%

  • Valuation: Not supplied

  • 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: $450 p.w.