Asking Price $1,985,000
3 2 1
The perfect Arrowtown crib
48 Devon Street, Arrowtown
Bayleys Arrowtown
1 / 21
Unclaimed
15 Cornwall Street, Arrowtown
Queenstown-Lakes District
Auction
- 3
- 2
- 3
- 511 m²
- House
Charming cottage on Cornwall
Positioned on an elevated, north-facing site, this cottage-style home captures all-day sun and picturesque mountain views. Light-filled and welcoming, the open-plan living area flows seamlessly to a sunny deck through French doors, creating the perfect space for relaxing or entertaining. A wood burner adds warmth and ambience through the cooler months, complemented by a heat pump for year-round comfort.
The home offers three generous bedrooms, including a master retreat with ensuite and private patio. A well-appointed family bathroom services the remaining bedrooms, while the external-access garage, large basement storage area, and excellent off-street parking provide practicality and flexibility. Dual access from both Cornwall and Devon Streets adds further convenience.
Set on a low-maintenance 511sqm section, this property delivers the ideal lock-and-leave lifestyle without compromising on outdoor enjoyment. Walking and mountain biking trails are quite literally on your doorstep, while Arrowtown's historic village centre, renowned cafés, restaurants & bars are just a short stroll away.
A perfect blend of character, comfort, and location, this is Arrowtown living at its most effortless.
To be sold by Auction, 11am Fri 4 Dec 2026 (unless sold prior).
Open homes 6
Added to OwnBetter 7 Nov 2026
OwnBetter estimate
$1.81m
Medium confidence
We estimate it would sell for $1,810,000 as at 5 October 2026, in a range of $1,630,000 to $2,060,000.
Typical home in Arrowtown
$2.20m
The median of our estimates of its 1,780 homes
$1.62mCouncil value
$1.63mLow
$1.81mEstimate
$2.06mHigh
How we worked this out
| Council valuation, Sept 2024 | $1,620,000 |
|---|---|
| Market movement in Queenstown-Lakes District since the council valuation | +6.4% |
| How Arrowtown sells against council values | +2.6% |
| Homes of this age in Arrowtown | +1.6% |
| Homes in this price range | −1.5% |
| Land as a share of the value | +0.8% |
| Nearby recent sales (15) | +0.5% |
| Its own sale in 2019 | +1.1% |
| Our estimate | $1,810,000 |
We start from the council's rating valuation, move it by how sales in the area have moved since against their own council values, then by how properties like this one, nearby sales and its own last sale have done against the same arithmetic. Each step is an average of real sales. Tested every month against sales we had not seen: half land within about 6% of our estimate, and about 8 in 10 within the range. This is an automated estimate, not a registered valuation.
My notes
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Estimates from the floor area and typical New Zealand prices, not quotes. Power, gas and internet details from the Electricity Authority and Gas Industry Co registries and Chorus.
Investor insights
15 Cornwall Street as a rental
Rent estimate$1,025/wk$890–$1,180 · Little evidence
Gross yield2.9%$53,300 a year on $1.81m
Net yield2.4%After $9,430 of costs
Cash flow−$618/wk30% deposit, interest only at 6.00%
| Line | ||
|---|---|---|
| Price Our estimate | ||
| Deposit | ||
| Interest rate | ||
| Rent a week our estimate $1,025 | ||
| Property manager | ||
| Rent, 52 weeks | $53,300 | |
| Empty between tenants 2 weeks | ||
| Property management 9.2% incl. GST | ||
| Maintenance 5% of rent | ||
| Council rates this year | ||
| Landlord insurance the building | ||
| Net income before interest | $43,870 | |
| Interest $1,267,000 at 6.00%, interest only | −$76,020 | |
| Cash flow before tax | −$32,150 | |
| Cash flow a week | −$618 | |
| Gross / net yield on the price | 2.9% / 2.4% | |
| Return on equity cash flow on the deposit, before tax | −5.9% | |
| Loses money above this interest rate, before tax | 3.46% | |
Type over any figure, add your own lines, or add a scenario to compare.
The rent covers the interest at rates up to 3.46%. That is -5.9% a year on a $543k deposit. A guide before tax and capital growth, from our estimates; not financial advice.
Property data
- Floor area119 m²
- Land area511 m²
- Decade built1960s
- Bedrooms3
- Bathrooms2
- Parking3 car spaces
- Property categoryUse not published
- CouncilQueenstown-Lakes District
- Valuation #29181-2200
- Valuation date1 Sep 2024
From the council’s rating records and the other sources noted on hover. Bedrooms and bathrooms may come from a past listing. Built is the decade the valuer records.
Title and land
Order a title record- Title numberOT1C/645
- Title typeFreehold
- Legal descriptionLot 13 Deposited Plan 10364
Registered instrumentsChecking the register… See the title summary →
Owner names and the parties to each instrument are not published on this page. Order the record of title to see them.
Getting around
Another agency selling this property too, or is it for rent? Import that listing and it shows beside this one.
Building consents
We hold no building consents for this property yet. The council may hold records we have not seen.
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Zoning and hazards
What the council's published maps say about this land. A map is a model of a storm, not a record of one: a LIM or a flood report says more.
Reading the council's maps…
What could you build here?
See whether a granny flat fits beside the house: the Building Act exemption, the national granny flat rules and the zone’s own. Then ask builders to price the shape you pick.
About Arrowtown
Queenstown-Lakes District
2,183
Properties on the rating roll
10 Jun 2026
Last council revaluation
Counts describe the records we hold for this territorial authority, not a market forecast. Our estimate above is automated, not a registered valuation; how it was reached is shown with it. Every council figure on this page can be checked against the council's own record.
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The OwnBetter estimate is our own, from sales and council valuations, and is not a registered valuation.
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