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Thread: Glen Eden

  1. #1

    Default Glen Eden

    hi investors,

    I am planning to go house hunting in an area i have never been to, Glen Eden, made some appointments to view houses with agents. Houses seem pretty cheap at around 300k+ . Is there any rough streets i need to be aware of in Glen Eden?

    thank you

  2. #2
    Join Date
    Dec 2007
    Posts
    887

    Default

    Maywood Cres and the surrounding streets. Glen Eden West is pretty rough, far from everything. Glen Eden near the train station is pretty nice. IMO I would still opt for New Lynn over Glen Eden.

    Should also add, Glen Eden has very steep topography and views influence the price. You will get a good street (ridge) next to a bad street (valley)
    Last edited by AMR; 08-03-2013 at 03:57 PM.

  3. #3

    Default

    if it is on a street named after a star sign then it's not the greatest either. check out on the other side of the rail way tracks that has a few hidden gems. otherwise up by pleasant rd is good, but you will pay alot more than $300k. my pick is the streets between pleasant and captain scott rd. you wont get the yield in glen eden but i do see it as a good buy hold then renovate and sell in a few years sort of an area.

  4. #4

    Default

    Thanks for the information

  5. #5
    Join Date
    Feb 2013
    Posts
    427

    Default

    After having lived in Glen Eden for 8 years I have a good idea. Most of what you're hearing is quite correct.

    I think it depends on what you're really wanting, but I can tell you the lower half of the $300K bracket is the kind of property you really don't want, and anything $370K plus is something worth looking at.

    The best streets in my opinion, Captain Scott Road and any road off of Captain Scott Road is a good road. Clayburn Road is a good road and most roads in that part are also excellent. Ambler Ave, Nandana Drive, Surat Place, Kashmir Road, Withers Road, Paewai Place, Annison Place, Konini Road, Atkinson Road and Pleasant Road are also quite good, some better than others. Woodvale Road and Levy Road aren't too bad either.
    Roads like Glendale Road, Glengarry Road, Woodglen Road, Rosier Road and streets off there can be nice but you also get lots of rentals around there with lots of long driveways where houses are jammed in like a pack of sardines.
    West Coast Road is really not worth looking at in my opinion its a little bit out of the way.

    The bad streets: Maywood Crescent, Danube Lane, Sunvue Road, Brunner Road, Woodbank Drive, Albion Vale Road, Solar Road, any road named after a star sign eg: Leo St, Capricorn Place. Kamara Road, Adam Sunde Place, Verdale Circle, Hydra Place, Meadowvale Rise, Pitcher Place.
    All of those roads are really full of rental properties, you're not really in the money making part of Glen Eden either, because you're so far out from Shops etc.

    Something like these would suit you:
    http://www.trademe.co.nz/property/re...-566824757.htm
    Quite literally 5 minutes walk to the train station (if that) 7 minutes to the local supermarket and shopping centre, it's character filled and will be one of the houses that will rent well and to good tenants, I could see something like this hitting $450+ per week.

    http://www.trademe.co.nz/property/re...-566824402.htm maybe 15-20 minutes walk to the local train station, but, Glen Eden Intermediate within 5 minutes walk, Kaurilands Primary a few minutes further, as far as I know buses stop about 5 minutes away that go to Mount Albert Grammar, Auckland Grammar and Epsom Girls or there is a train station a few minutes further. Something like this you could pick up quite cheap but with a full interior/exterior reno, new bathroom and kitchen, new carpet, curtains and a general tidy up of the yard you would fetch a tidy $420-$450p/w I would think.

    http://www.trademe.co.nz/property/re...-565204490.htm needs some work, but, 2 minutes walk to train and shops, with a reno I would say $450+ p/w again in close proximity to transport going to the good schools, will rent well to a family.

    The kind of places you don't want:
    http://www.trademe.co.nz/property/re...-564483904.htm - Granted it's done up nicely, but a quick look on street view shows you the street isn't desireable. Reality is you'll rent it to the kind of tenant who won't look after the house and that nice reno will soon look tired

    http://www.trademe.co.nz/property/re...-562485985.htm - Jammed down a drive way with too many other houses, you only have to look at it to be able to tell its of cheap construction, you're only going to attract a certain type of tenant, its tiny and in my opinion just not something in a good part of Glen Eden

    http://www.trademe.co.nz/property/re...-568310395.htm - Not sure if I should have to explain this one but I will anyway. Tiny house jammed onto a 365m2 section, on a busy busy road, the excellent corner shops the agent mentions in the add well if you classify the dairy and a takeaway store (that's all there is) as excellent corner shops then I suppose there's that, as for Prospect Primary bad news, not a very good school, its the in zone school for some of Glen Eden's worst streets.

  6. #6
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,087

    Default

    If you are tempted by the old Nappy Valley area (see 'bad streets', above!), bear in mind that even there, there are 'better' and 'worse' parts.

    For example, some of 'Solar' road is down in a valley, and houses are more likely to be damp and shady. Higher up, there is more 'air in your hair' as we say, and things don't seem so cramped.

    Do be aware of long driveways - disputes over access are common, and very hard to resolve to every one's satifaction!
    DFTBA

  7. #7
    Join Date
    Feb 2013
    Posts
    427

    Default

    Buying in Nappy Valley area is a good way to start your portfolio, but you can almost expect that you will have short term tenants, arrears owing and that you will have to spend money on repairs each time a tenant moves out. Homes in the bad streets are great as rentals if you have a property manager who is constantly on the ball or if you are a landlord who is firm.

    I've seen friends who buy homes in these areas who are too soft and they end up having tenants moving out leaving the house in a terrible state and owing arrears and the tenants end up getting away with it because the landlords are too soft.

    Long driveways are definitely bad, I've seen it first hand. It's a nightmare living down a driveway where all the houses are tenanted. I rented down a driveway of 13 houses, luckily I was only the 4th house down the driveway but you would constantly have people coming and going, the worst is when people would have visitors people constantly blocking the driveway I didn't say anything but there were disputes between other neighbours, I just got sick of it and moved, as did many other neighbours, not a good location for a rental unless you like having tenants leaving all the time.

  8. #8

    Default

    The first half of sunvue isn't too bad. if i was buying in Glen Eden,( and i do plan too), i would be buying for land size. Glen Eden has been nominated as a 'town centre. in the auckland plan which means there will be rezoning and much higher density allowed. there are a lot of 1000m2+ sections in Glen Eden and they're affordable too.

  9. #9
    Join Date
    Feb 2013
    Posts
    427

    Default

    But 1000m2 doesn't mean much if you own something on Leo Street for example.

    Location location location. That's the key.

  10. #10

    Default

    i agree, but i wouldn't bother buying a small block in a good location.


 

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