Rental Property in Nawton Hamilton

[kjoshi]

Hi Im looking to buy an investment property in Nawton Hamilton. I am looking at 3 bedroom freehold home with double garage. Land area around 500 sq meter. How much is the reasonable price for this sort of property in Nawton Area at the moment. What is the average rent for not recently renovated but good condition property.

Can any one also advise on decent property managers in Hamilton as Im from Auckland and do not know the area well.

Thanks in advance.
Josh

[Damap]

Kjoshi trademe will give you a good general idea. NAwton for investment between 250 and 300K. Rents high 3's to mid 4's. A local investor will hopefully suggest a PM. Nawton not a great part of Hamilton, what is the attraction for you?

[kjoshi]

Thanks Damap. I think there is lot of potential in Nawton. It has working class people. Near by motorway and The base. Property prices are still not that high vs rent. Also I see people in hamilton dont pay higher rents for pricey properties

[rocket]

Nawton & bader have poor socio economics. Unless you get a great deal stay away.

[kjoshi]

Nawton & bader have poor socio economics. Unless you get a great deal stay away.

Hi Rocket what areas you suggest. Is 320k for 3 bed free hold good deal for 320/week rent.

[rocket]

Hamilton is very hot at the moment & vendors may ask anything. .. I think with that sort of a rent it should be around $250-260k.
Look for ways in which you can add value.

[kjoshi]

Thanks for the insight. What would be the best area for 500k budjet with decent yield in Hamilton.

[Damap]

Is 320k for 3 bed free hold good deal for 320/week rent.

No that is a very bad deal.

[AlFa]

No that is a very bad deal.

I tend to agree

[kjoshi]

How about cross leased 3 bed shared drive way for 290k and 320/week. Is it sounds reasonable.

[kjoshi]

BTW 320/week is conservative figure. On trade me the cheapest rent for 3 beddie in Nawton is 340.

[P.Bateman]

I would avoid Nawton- poor quality of tenants round there. Look at Deanwell and Melville- not great areas but hospital is close so you have more rental potential there. Personally I dont think being close to the city is a massive advantage in Hamilton as it is in Auckland. Most suburbs are within a 15 minute drive anyway.

We are looking to invest there- been looking for 6 weeks and there is a lot of Auckland investor demand pushing prices up so yields are falling.

[primal]

if you compare otara and nawton, both falls in same poor category. Otara is booming and sooner or later nawton and bader will. That's my thinking

[P.Bateman]

[QUOTE=primal;379169]if you compare otara and nawton, both falls in same poor category. Otara is booming and sooner or later nawton and bader will. That's my thinking[/QUO

Look at the parts of Nawton zoned for Aberdeen or closer to Grandview Heights

[Damap]

But you don't buy Otara in a boom you buy sh*t in a slump and sell it in a boom when investors pay too much for them. So don't buy in there now you are tripping yourself up.