Aerial · LINZ aerial
Title boundary · 519 m² · LINZ
Unclaimed

5 Wallace Place, Wānaka

Queenstown-Lakes District

$1,755,000

  • 4
  • 2
  • 1
  • 212m²
  • 518 m²
  • House
  • Ensuite
  • 1 Garage

More Space, Right Where You Want It

Positioned at the top end of Alpine Estate on a larger-than-average, fully fenced section, 5 Wallace Place delivers the space, sunshine and convenience that make everyday Wanaka living easy.

Built by respected local builder Mike Plimmer, this four-bedroom, two-bathroom home sits peacefully at the end of a quiet cul-de-sac, with mountain views creating an impressive backdrop and plenty of outdoor space for children, pets and summer entertaining.

At the heart of the home, the open-plan kitchen, dining and living area is light-filled and welcoming, flowing directly onto a sunny deck and lush lawn. A wood burner brings warmth and atmosphere through the cooler months, creating a home that’s comfortable year-round.

Four well-proportioned bedrooms provide plenty of room for family and guests, while upstairs, a generous landing offers valuable extra space. Use it as a home office, kids' hangout, reading nook or second living area - it’s a flexible zone that can easily adapt as your needs change.

The location is another real standout. Te Kura O Take Karara, Wanaka Primary School and Mount Aspiring College are all within easy biking distance, with the medical centre also close by. Positioned at the Cardrona end of town, you're perfectly placed for days on the mountain, biking adventures and everything the wider Wanaka lifestyle has to offer.

Sunny, spacious and tucked away in a peaceful cul-de-sac, 5 Wallace Place gives you a little more room to live - both inside and out - in an incredibly convenient location.

Vacant and ready for its new owners, there's no need to wait. Get in touch today to arrange your viewing.

Note: You could complete more landscaping and hedging on the property - see the digitally enhanced garden photo for inspiration.

Added to OwnBetter 25 Oct 2026

OwnBetter estimate
$1.62m
Medium confidence

We estimate it would sell for $1,620,000 as at 5 October 2026, in a range of $1,460,000 to $1,850,000.

Typical home in Wānaka
$1.71m
The median of our estimates of its 6,809 homes
How we worked this out
Council valuation, Sept 2024$1,650,000
Market movement in Queenstown-Lakes District since the council valuation+6.4%
How Wānaka sells against council values−2.6%
Homes of this age in Wānaka+1.8%
Homes in this price range−1.5%
Land as a share of the value+0.3%
Nearby recent sales (15)−2.4%
Its own sale in 2016−3.2%
Our estimate$1,620,000

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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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

5 Wallace Place as a rental

Rent estimate$975/wk$850–$1,120 · Little evidence
Gross yield3.1%$50,700 a year on $1.62m
Net yield2.6%After $8,970 of costs
Cash flow−$506/wk30% deposit, interest only at 6.00%
Line
Price Our estimate
Deposit
Interest rate
Rent a week our estimate $975
Property manager
Rent, 52 weeks$50,700
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$41,730
Interest $1,134,000 at 6.00%, interest only−$68,040
Cash flow before tax−$26,310
Cash flow a week−$506
Gross / net yield on the price3.1% / 2.6%
Return on equity cash flow on the deposit, before tax−5.4%
Loses money above this interest rate, before tax3.68%
Type over any figure, add your own lines, or add a scenario to compare.

The rent covers the interest at rates up to 3.68%. That is -5.4% a year on a $486k deposit. A guide before tax and capital growth, from our estimates; not financial advice.

Property data

  • Floor area212 m²
  • Land area518 m²
  • Decade built2020s
  • Bedrooms4
  • Bathrooms2
  • Parking1 car space
  • Property categoryUse not published
  • CouncilQueenstown-Lakes District
  • Valuation #29061-3356
  • 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 number895136
  • Title typeFreehold
  • Legal descriptionLot 1 Deposited Plan 537694
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 Wānaka

Queenstown-Lakes District
8,643
Properties on the rating roll
1 Jun 2025
Last council revaluation
Buyer demand

18 people looked at properties in Wānaka this week.

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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