Aerial · LINZ aerial
Shared parcel · 5,407 m² · LINZ
Unclaimed

2 Reads Quay, Gisborne

Gisborne District

Last sold Aug 2024

What you’ll love about this place

  • Waterfront: the land runs down to a river

From LINZ's topographic maps: how near the land comes to the water's edge.

OwnBetter estimate
$256k
Medium confidence

We estimate it would sell for $256,000 as at 5 October 2026, in a range of $230,000 to $292,000.

Typical home in Gisborne
$544k
The median of our estimates of its 557 homes
How we worked this out
Council valuation, Aug 2023$243,000
Market movement in Gisborne District since the council valuation+4.8%
How Gisborne sells against council values−0.1%
Homes of this age in Gisborne−0.5%
Homes in this price range+0.1%
Land as a share of the value−1.2%
Nearby recent sales (15)+0.2%
Its own sale in 2017+2.3%
Our estimate$256,000

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.

Part of 2 Reads Quay · Unit Title One of 71 units on Deposited Plan 343280. The boundary on the map is the whole building's — a unit title sits over the parcel the development shares. See the whole building →
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

2 Reads Quay as a rental

Rent estimate$410/wk$350–$470 · Little evidence
Gross yield8.3%$21,320 a year on $256k
Net yield6.9%After $3,772 of costs
Cash flow+$131/wk30% deposit, interest only at 6.00%
Line
Price Our estimate
Deposit
Interest rate
Rent a week our estimate $410
Property manager
Rent, 52 weeks$21,320
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$17,548
Interest $179,200 at 6.00%, interest only−$10,752
Cash flow before tax+$6,796
Cash flow a week+$131
Gross / net yield on the price8.3% / 6.9%
Return on equity cash flow on the deposit, before tax8.8%
Loses money above this interest rate, before tax9.79%
Type over any figure, add your own lines, or add a scenario to compare.

The rent covers the interest at rates up to 9.79%. That is 8.8% a year on a $77k deposit. A guide before tax and capital growth, from our estimates; not financial advice.

Property data

  • Floor area25 m²
  • Decade built2000s
  • Bedrooms1
  • Bathrooms1
  • Property categoryUse not published
  • CouncilGisborne District
  • Valuation #8560-73600-BB
  • Valuation date1 Aug 2023

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 number238147
  • Title typeUnit Title
  • Legal descriptionUnit 308 Deposited Plan 343280
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

Listings

Selling this property, or the agent for it? Import the listing from your agency's site or a portal and it appears here, free: photos, price, open homes and your details, beside the council record buyers are already reading.

Building consents

We hold no building consents for this property yet. The council may hold records we have not seen.

Unclaimed
Nobody is tracking this property yet

If it is yours, claiming it puts the council record, the title and what it costs you to hold in one place — and lets you put your lending, insurance and power out to people who compete for them.

Free. Takes about a minute.

We check your name against the registered owner on the title before a claim is accepted. Nothing on this page changes for anyone else, and no provider is contacted until you ask.

What claiming gets you
1One live recordCouncil valuation, title details and registered interests, kept current rather than gathered again every time you need them.
2Your lending in the pictureAdd what you owe, or connect the bank, and the equity and LVR stop being a calculation you redo by hand.
3Providers compete for itPut the mortgage, the insurance and the power out to people who want the business — on your terms, when you ask.
4Everything else you ownOne search finds other titles in your name and in companies you are a director of.

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 Gisborne

Gisborne District
1,275
Properties on the rating roll
1 Aug 2023
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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