26 PAH RD, PAPATOETOE, AUCKLAND, HOUSE & LAND
Well designed, high quality, low maintenance houses in strong rental demand location
9 x 3 & 4 bedroom house & land packages
Opportunity for additional capital growth before settlement in September 2021
Prices: 3 beds $739k - $749k, 4 beds $779k
61% of dwellings in this suburb have 3-6 occupants and 35% have annual household income of $70k+
The South Auckland market is a consistent long term performer and this location is 6.6km from Auckland Airport, 4.1km from Manukau City and 22km from Auckland CBD.
INVESTMENT OVERVIEW
Strategy: Off the plan
Upside: Growth prior to settlement
Rent: Unfurnished / Furnished
Lending: 80% LVR
Deposit: 10%
Deposit type: Cash, equity
Title: Fee Simple
THE PROPERTY
Type: House & Land
Beds/Baths: 3+1.5, 4+1.5
Carparks: 1 Off-street
Internal floor area: 73 - 91 sqm
Land size: 192 - 235 sqm
SUBURB PERFORMANCE
Dwelling type: TownhousesMarket rents 3 bed: $600 p.w
Market rents 4 bed: $700 p.w.
Median gross yield: 4.3%Median sale price 10 years: +124%
Median sale price 20 years: +270%
Capital growth (20 years): 7.1% p.a.
PAPATOETOE HOUSE MARKET PERFORMANCE
House median sale price Aug 20: $717,000
House sales volume: 510 per year
House days to sell: 34
House sales value: $345 million per year
Market data sources: Real Estate Investar, Tenancy Services, REINZ, One Roof
FIRST HOME BUYERS
Dwelling: 3 bedroom house
Purchase price: $739,000
Deposit: 10%
Weekly cost to own: $718
Occupancy: Sole
FIRST HOME INVESTORS
Dwelling: 3 bedroom house
Purchase price: $739,000
Deposit: 10%
Weekly cost to own: $368
Occupancy: With flatmate/s
PROPERTY INVESTORS
Assessed rent 3 bed: $650 - $700 p.w
Assessed rent 4 bed: $750 - $850 p.w
Year 1 cashflow: 3 bed +$91 p.w
Year 1 cashflow: 4 bed +$163 p.w
DSR: 1.5 - 1.7
Gross yield: 4.3% - 4.9%
Note: Cost to own and cashflows are approximate examples only. Actual results achieved will vary based on purchase price, interest rate, deposit %, providing carparks, providing furniture, insurance, property rates and rental rate.
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: 3.0%
LVR: 100% Investors / 90% Home Buyers
Rates: $2,500 - $3,000
Insurance: $1,500 - $1,800 p.a
CPI: 3.0%
Capital Growth: 7.1%
Legal/Loan fees: $2,000
Rent: Market rents appraised by property manager
Body Corporate / owners levy: $0
Property Manager: 10% of rent
Vacancy Rate: 1 week p.a
First Home Buyers/Investors current rent: $540 p.w.
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PROJECT OVERVIEW
Amazing value for money. You get a lot of house for such a great price. Compared to other new homes selling in the area, these new homes are a great bargain – better grab one before they get snapped up. For a new 3 or 4 bedroom new standalone home in Papatoetoe, you would expect to pay well over $1,000,000…. With our efficient design, we have been able to create a well-functioning home over a single level at a fraction of the price – starting from $739,000. Each of the bedrooms are double bedroom sized and you get one full bathroom plus a second guest toilet.
Open plan living extends out onto you own private deck area where you will enjoy the fully landscaped yard which is all included in the price. To get this deal, you only have to pay a 10% deposit today and nothing more until the home is completed (the deposit is held in a solicitors trust account until the home is complete). You wont find a completed new home at this price, so make sure you get in touch with the team today to learn about how to secure one for yourself.
Opposite a park and only 2minutes by car (or a 15 minute walk) to the nearest shopping centre, this has Location, Location, Location written all over it. Transportation is easy with multiple options within a very short distance. You will find a bus stop only 60 metres away; a train station just over a km down the road; and less than a 2 minute drive to the South Western Motorway.
Major employers are close by with Middlemore Hospital being within a 5 minute drive, Westfield at Manukau approx. 6 mins and the Auckland Airport approx. 7 minutes driving time. This boutique development of 3 and 4 bedroom standalone homes will be popular amongst home buyers and investors alike.
Featuring:
• Easy-care cladding – either brick or weatherboard
• Well-apportioned, yet low-maintenance landscaping
• The latest in insulation and double glazing windows
• Open-plan living
• 2nd, guest toilet
• Great indoor-outdoor flow
• Designer kitchen with stone bench tops
• High-end appliances
• Heat pump