40 & 42 KAIKOURA ST, HENDERSON, AUCKLAND, TOWNHOUSES

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

  • 15 x 1 & 2 bedroom townhouses

  • Opportunity for additional capital growth before settlement in late 2021

  • Prices: 1 bed $525k - $535k, 2 bed $670k - $685k

  • 44% of dwellings in this suburb have 1-2 occupants and 36% have annual household income of $70k+

  • 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. This location is 16km 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: Townhouse
Beds/Baths: 1+1, 2+2
Carparks: Off-street for 2 beds, on or off street 1 beds
Internal floor area: 56 - 84 sqm
Land size: 62 - 100 sqm

SUBURB PERFORMANCE

Dwelling type: Townhouses
Market rents 1 bed: $401 p.w
Market rents 2 bed: $485 p.w.
Median gross yield: 3.8%
Median sale price 10 years: +106%
Median sale price 20 years: +299%
Capital growth (20 years): 7.6% p.a.

HENDERSON HOUSE/TOWNHOUSE MARKET PERFORMANCE

House/Townhouse median sale price Aug 20: $795,000

House/Townhouse sales volume: 450 per year

House/Townhouse days to sell: 32

House/Townhouse sales value: $360 million per year

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

FIRST HOME BUYERS

Dwelling: 1 bedroom townhouse
Purchase price: $525,000
Deposit: 10%
Weekly cost to own: $524
Occupancy: Sole

FIRST HOME INVESTORS

Dwelling: 2 bedroom townhouse
Purchase price: $670,000
Deposit: 10%
Weekly cost to own: $304
Occupancy: With flatmate/s

PROPERTY INVESTORS

Assessed rent 1 bed: $420 - $485 p.w
Assessed rent 2 bed: $545 - $600 p.w
Year 1 cashflow: 1 bed +$26 p.w
Year 1 cashflow: 2 bed +$35 p.w
DSR: 1.5
Gross yield: 4.1%

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: $1,800 - $2,600

  • Insurance: $1,500 - $1,800 p.a

  • CPI: 3.0%

  • Capital Growth: 7.6%

  • Legal/Loan fees: $2,000

  • Rent: Market rents appraised by property manager

  • Body Corporate / owners levy: $200

  • Property Manager: 10% of rent

  • Vacancy Rate: 1 week p.a

  • First Home Buyers/Investors current rent: $450 p.w.

 
 

PROJECT OVERVIEW

Located on Kaikoura Street in Henderson, these Townhouses are only a short walk or drive to access Great North Road and are walking distance to local schools, shops, cafes, transport and other amenities. It is with no doubt that finding new homes at an affordable price point is only going to get increasingly harder as Auckland City’s population grows.

On the Ground Floor, the kitchen, dining and living areas are open plan. There is a Washer/Dryer Combination conveniently located within the kitchen and a large storage space under the stairs (additional storage space also upstairs). Upstairs is either 1 or 2 full size bedrooms, which include large built-in wardrobes. Outside is a low maintenance private courtyard, which includes a Clothesline, Storage/Bike Shed and power supply.