Aerial · LINZ aerial
Title boundary · 10,221 m² · LINZ
UnclaimedRuralMulti-use in rural industry

302 Mill Road, Bombay

Auckland

Auction

  • 260m²
  • 1.02 ha

Real home and income

OPEN DAY Saturday 11.30am - 12.30pm the 31 October Sunday 2pm - 3pm 1 November

• 49 Individual storage units returning $103,000pa • Immaculately presented 4-bedroom family home • Reliable income stream supported by high demand and strong occupancy • Prime location to motorway networks Bombay Service Centre & Drury South • First time on the market in 16 years- tightly held and rarely available A rare and unique opportunity to buy this standout home and income in one of Bombay's most desirable and sought after locations. This versatile property combines quality living with a high-performance income stream, delivering serious upside for investors, owner-occupiers, or those seeking long-term passive revenue. Properties delivering both quality lifestyle living and six figure income are exceptionally scarce in the Bombay/Franklin market offering versatility with immediate cashflow in a high-growth corridor. Take comfort that the country's three biggest projects are about to be undertaken in the next few years that is Fisher & Paykel's Health Care and new public hospital at Karaka/Drury and Kiwi Property planned shopping centre at Drury South. This is a high performing dual asset, hurry this opportunity will not last so call today.

OwnBetter estimate
$1.78m
Medium confidence

We estimate it would sell for $1,780,000 as at 5 October 2026, in a range of $1,520,000 to $2,020,000.

Typical home in Bombay
$1.50m
The median of our estimates of its 705 homes
How we worked this out
Council valuation, May 2024$1,950,000
Market movement in Auckland since the council valuation−4.8%
Apartments and houses in Auckland+0.1%
How Bombay sells against council values−1.9%
Homes of this age in Bombay−1.9%
Homes in this price range−0.9%
Land as a share of the value+0.2%
Our estimate$1,780,000

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 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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What it costs to live here

Home expense estimates

—a month, all in

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

302 Mill Road as a rental

Rent estimate$1,015/wk$880–$1,170 · Little evidence
Gross yield3.0%$52,780 a year on $1.78m
Net yield2.4%After $9,338 of costs
Cash flow−$602/wk30% deposit, interest only at 6.00%
Line
Price Our estimate
Deposit
Interest rate
Rent a week our estimate $1,015
Property manager
Rent, 52 weeks$52,780
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$43,442
Interest $1,246,000 at 6.00%, interest only−$74,760
Cash flow before tax−$31,318
Cash flow a week−$602
Gross / net yield on the price3.0% / 2.4%
Return on equity cash flow on the deposit, before tax−5.9%
Loses money above this interest rate, before tax3.49%
Type over any figure, add your own lines, or add a scenario to compare.

The rent covers the interest at rates up to 3.49%. That is -5.9% a year on a $534k deposit. A guide before tax and capital growth, from our estimates; not financial advice.

Property data

  • Floor area260 m²
  • Land area1.02 ha
  • Decade built1990s
  • Bedrooms4
  • Bathrooms3
  • Parking4 car spaces
  • ImprovementsDwelling, freestanding garage, other improvements, 3 storage
  • Property categoryMulti-use in rural industry
  • CouncilAuckland
  • Valuation #03790-00000004010
  • Valuation date1 May 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 number286063
  • Title typeFreehold
  • Legal descriptionLot 3 Deposited Plan 370595
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

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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 Bombay

Auckland
865
Properties on the rating roll
1 May 2024
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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