Buyer Enquiry Over $649,000
6 3 0
INVESTORS DREAM, 8.4% GROSS YIELD RETURN
1A Warren Street, Oamaru
LJ Hooker Oamaru
Aerial · LINZ aerial
Unclaimed
56 Aln Street, Oamaru
Waitaki District
Buyer Enquiry Over $635,000
- 3
- 2
- 260m²
- 607 m²
- House
AWESOME OPPORTUNITY TO OWN ON ALN STREET
This fully furnished property offers an outstanding opportunity to secure an immaculately presented home in a central Oamaru location. Ready to move into and enjoy, it combines comfort, character and practicality in a sought-after position.
Outstanding views are a real feature, while double glazing, a heat pump and multi-fuel logfire provide year-round comfort. Excellent garaging and storage add practicality, while the extra-large attic space offers plenty of options as a teenage retreat, hobby room or additional living space.
The well-established grounds provide a mature setting and complement the home beautifully. Being fully furnished also opens up the opportunity to continue using the property as a home while having the flexibility to operate it as an Airbnb or short-stay accommodation.
Central Oamaru living puts shops, cafés, services and town amenities within easy reach, making this an attractive option for both permanent living and visitor accommodation.
Immaculate presentation, outstanding views, great garaging, excellent storage and genuine accommodation potential - this is an opportunity worth viewing.
OwnBetter estimate
$655k
Medium confidence
We estimate it would sell for $655,000 as at 5 October 2026, in a range of $588,000 to $745,000.
Typical home in Oamaru
$414k
The median of our estimates of its 1,083 homes
$588kLow
$630kCouncil value
$655kEstimate
$745kHigh
How we worked this out
| Council valuation, Aug 2023 | $630,000 |
|---|---|
| Market movement in Waitaki District since the council valuation | +6.0% |
| Apartments and houses in Waitaki District | −0.2% |
| How Oamaru sells against council values | +1.3% |
| Homes of this age in Oamaru | −0.9% |
| Homes in this price range | −1.1% |
| Land as a share of the value | −1.2% |
| Nearby recent sales (15) | −0.5% |
| Its own sale in 2017 | +0.7% |
| Our estimate | $655,000 |
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
56 Aln Street as a rental
Rent estimate$615/wk$530–$710 · Little evidence
Gross yield4.9%$31,980 a year on $655k
Net yield4.0%After $5,658 of costs
Cash flow−$23/wk30% deposit, interest only at 6.00%
| Line | ||
|---|---|---|
| Price Our estimate | ||
| Deposit | ||
| Interest rate | ||
| Rent a week our estimate $615 | ||
| Property manager | ||
| Rent, 52 weeks | $31,980 | |
| 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 | $26,322 | |
| Interest $458,500 at 6.00%, interest only | −$27,510 | |
| Cash flow before tax | −$1,188 | |
| Cash flow a week | −$23 | |
| Gross / net yield on the price | 4.9% / 4.0% | |
| Return on equity cash flow on the deposit, before tax | −0.6% | |
| Loses money above this interest rate, before tax | 5.74% | |
Type over any figure, add your own lines, or add a scenario to compare.
The rent covers the interest at rates up to 5.74%. That is -0.6% a year on a $197k deposit. A guide before tax and capital growth, from our estimates; not financial advice.
Property data
- Floor area260 m²
- Land area607 m²
- Decade built1970s
- Bedrooms3
- Bathrooms1
- Parking3 car spaces
- Property categoryUse not published
- CouncilWaitaki District
- Valuation #26280-46904
- 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 numberOT5D/1027
- Title typeFreehold
- Legal descriptionLot 9 Deposited Plan 13051
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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What claiming gets you
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3Providers compete for itPut the mortgage, the insurance and the power out to people who want the business — on your terms, when you ask.
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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 Oamaru
Waitaki District
1,649
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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