Two Dwellings Here (Unit)
Built for Housing NZ in the 1960's, the duplex consists of two units, each comprising three bedrooms and a bathroom upstairs, with the living spaces and a second toilet downstairs. A concrete block wall divides the two units, and each unit has its own outdoor space, concrete driveway and carport.
The dwellings are tired, and will likely need insulation work to meet the upcoming tenanted property compliance requirements. Do the work, and this could be a good buy and hold option. Rental demand is strong in the region, and vacancy rates are low. Currently rented for $160 per unit, well below the reported market rent for three bedroom properties, these units are due for a rental increase.
New Rating Valuations are due out now. The previous 2015 Rating valuation is $90,000, and district rates for the 2017/2018 year were $4503.60. Regional rates for the 2018/2019 year are $198.78.