Offer Accepted 11 March 2023, Settled January 2024
4 Tiri Road, Manly, Auckland
Purchase Price
Purchase Price
$497,000
Investment Return
10% per Annum
Term
6 Months
About this opportunity
We secured this property at a great discount. This was a deal that we put a offer in early 2023, but wasn’t accepted. It came back to us, and we offered slightly more, and this time round got accepted.
As this was a part of a larger subdivision, there was a delay as the drainage was not compliant to get the title issued, there was a delay from the vendor to get the works completed, however this settled eventually in January 2024
This 2 bedroom, 1 bathroom property on 344m2 land is in need of a extensive renovation. The builder have been through the property and renovation estimates have been supplied, with timeframes.
Located in the sought-after coastal neighborhood of little Manly, a location offering the a combination of a relaxed, friendly neighborhood.
Little Manly Beach is only a 178m walk away. Manly Village shops 450m away, having the doctors, chemist, dairy, licensed restaurants & fantastic cafes an easy walk away. Top schools Whangaparaoa Primary and College zoned with the bus stop just around the corner.
TimeLine:
We are looking to complete this project, end to end in 5 months, with 1 month contingency.
Investment blocks of $50,000 or more are required.
Please contact us to find out about our other investment options – we are always looking for Joint Venture Partners, or we can do profit share options.
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Financials
Purchase Price | $497,000 |
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Loan LVR% | 57.69% |
Loan Amount | $300,000 |
Renovation Cost | $106,950 |
Consultation, Counsil, Holding, GST, Interest Cost | $46,200 |
Flip
Total Cost | $673,150 |
Sales & Marketing | $29,325 |
ROI on Sale (6 months deal): 24,23%
Sale
Target Sale Price | $800,000 |
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Estimated Profit | $97,525 |
Annualised ROI = 48.46%