New Zealand Landed Property for Sale
Land area: 5845 sq feet
Built up: 1120 sq feet
Location: Cromwell, New Zealand
- Concrete house
- 3 bedrooms
- Fully fenced lawn
- Three year fixed tenancy
- Property manager collects rent weekly and inspects property every 3 months
- Existing tenants pay rent on time
- Rent payment history documented, will produce on request
- No tax / restrictions for Singaporeans
- Comprehensive Property Insurance at $66 per month (for earthquakes, etc.) up to rebuild cost of new home
- 2 minute walk to convenience store
- 2 minute walk to Cromwell Primary School
- 2 minute drive to Cromwell Medical Centre (Hospital - 1km)
- 2 minute drive to Town Centre (1km) (Supermarkets, shops, etc.)
- Lake Dunstan water sports (Less than 5 minutes away)
- Highland Motorsport Park (Less than 5 minutes away)
- AJ Hackett Bungy (Less than 20 minutes away)
- Cromwell cherry plantations (Less than 5 minutes away)
- Queenstown (40 minutes away)
- Fly in from Queenstown International Airport (Approx 35 mins away)
Selling price: NZD$340,000 or SGD$306,000
Fixed yearly rental income: $13,920
Rental yield: 4.09% for next 3 years
Estate currently owned by two Singaporean partners.
Take advantage of strong SGD against NZD in 2015 - SGD 0.9 = NZD 1.0
Note: We purchased the property for SGD $315,000 during a strong NZD period. We are deciding to sell due to a plantation opportunity in another area. Our loss would be a gain for an astute buyer.
Rental yield is realistic and safe for the next couple of years. Investment is safe for someone content with the yield figures. There are investments around promising higher rental yield of 6% and above for student accomodation houses but they would be riskier options.
Our tenants are middle aged couple working in Cromwell. Husband works as an electrician and intends to carry on in the house for the long term.
Investors looking to 'flip' and turn a quick $100,000, this house option is likely not for you. Would suit someone looking for a safe and stable rental yield.
Property manager is from a trusted rental management firm in Cromwell. She collects/monitors weekly rent, and will conduct a formal inspection every 3 months on your behalf.
All the information in this listing has been provided by the business seller or representative. Our platfrom is not responsible for the accuracy of the information.