Deadline Sale
2 1 1
Deadline sale Fri, 6 Nov
Charming Cottage - Character & Opportunity
13 King Street, Wairoa
Property Brokers
1 / 31
Unclaimed
31 Somerville Street, Wairoa
Wairoa District
$175,000
- 3
- 1
- 104m²
- 500 m²
- House
Entry Level for Those with Energy
Very unassuming from the street, a pleasant surprise awaits inside.
With upgrades completed inside for compliancy, and a Healthy Homes Certificate on the way, you can work on the tired exterior at your pace. The bathroom has been upgraded, and the dining area is in a sunny corner area. The living room has a heat pump and receives afternoon sun.
The bedrooms are off a small hallway - the primary bedroom has a glass ranch slider that opens to the patio. With some paint and planting you could create a visually pleasant outdoor nook to look out at from the patio or bedroom.
The property is priced to acknowledge that the dwelling's cladding and roof need attention, whilst being compliant for tenants from day one. Or turn this little corner property into your home with your DIY skills and some tasteful planting - it won't take long to mow the lawn here!
There is a food and grocery store around the corner, and The North Clyde River Parade reserve area is 220 metres away.
The dwelling was not affected by flooding and was cleared for occupation after the Gabrielle cyclone event, by Wairoa District Council, as flood water did not infiltrate the home. The current land category for the area is 2C.
If you've got a bit of time on your side, and a bit of vision, this might become the best little boutique property you ever did buy.
OwnBetter estimate
$209k
Medium confidence
We estimate it would sell for $209,000 as at 5 October 2026, in a range of $188,000 to $238,000.
Typical home in Wairoa
$292k
The median of our estimates of its 2,051 homes
$188kLow
$190kCouncil value
$209kEstimate
$238kHigh
How we worked this out
| Council valuation, Aug 2024 | $190,000 |
|---|---|
| Market movement in Wairoa District since the council valuation | +9.3% |
| Apartments and houses in Wairoa District | +1.3% |
| How Wairoa sells against council values | +2.1% |
| Homes of this age in Wairoa | +0.3% |
| Homes in this price range | +1.3% |
| Land as a share of the value | −2.7% |
| Nearby recent sales (15) | +1.2% |
| Its own sale in 2017 | −2.8% |
| Our estimate | $209,000 |
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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Sign in for the free reportHome expense estimates
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
31 Somerville Street as a rental
Rent estimate$410/wk$350–$470 · Little evidence
Gross yield10.2%$21,320 a year on $209k
Net yield8.4%After $3,772 of costs
Cash flow+$169/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 $146,300 at 6.00%, interest only | −$8,778 | |
| Cash flow before tax | +$8,770 | |
| Cash flow a week | +$169 | |
| Gross / net yield on the price | 10.2% / 8.4% | |
| Return on equity cash flow on the deposit, before tax | 14.0% | |
| Loses money above this interest rate, before tax | 11.99% | |
Type over any figure, add your own lines, or add a scenario to compare.
The rent covers the interest at rates up to 11.99%. That is 14.0% a year on a $63k deposit. A guide before tax and capital growth, from our estimates; not financial advice.
Property data
- Floor area104 m²
- Land area500 m²
- Decade built1920s
- Bedrooms3
- Bathrooms1
- Parking1 car space
- Property categoryUse not published
- CouncilWairoa District
- Valuation #8850-12800
- Valuation date1 Aug 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 numberHBG4/1361
- Title typeFreehold
- Legal descriptionLot 1 Deposited Plan 15196
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.
Unclaimed
Nobody is tracking this property yet
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What claiming gets you
1One live recordCouncil valuation, title details and registered interests, kept current rather than gathered again every time you need them.
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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.
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 Wairoa
Wairoa District
2,986
Properties on the rating roll
1 Aug 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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The OwnBetter estimate is our own, from sales and council valuations, and is not a registered valuation.
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