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Property Reports NZ

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Epsom, Auckland

Residential dwelling607 m² sectionBuilt c. 1968

Overall risk rating

Low riskStrong fundamentals — double grammar zone, low risk profile
A-Buy
A well-located Epsom family home in the double grammar zone with strong long-term capital growth, low risk profile, and solid rental demand. A sound purchase at the right price.

Score Dashboard

79/100
Comparable Sales82 · 25%
Rental Potential72 · 20%
Neighborhood88 · 20%
Investment Upside78 · 20%
Market Conditions71 · 15%
Comparable Sales25%
82
Rental Potential20%
72
Neighborhood20%
88
Investment Upside20%
78
Market Conditions15%
71

Composite Score

79/100

A-Buy

Score Transparency

The composite score above is a weighted average of five categories, each scored out of 100:

Comparable Sales

How the price, size and condition of this property compare to recent nearby sales.

25%
Rental Potential

Estimated rental yield and demand relative to typical NZ benchmarks.

20%
Neighborhood

Combined score for schools, safety, walkability, demographics and growth trajectory of the area.

20%
Investment Upside

Estimated capital growth potential and overall investment grade.

20%
Market Conditions

The suburb's current market activity — days on market, price movement and outlook.

15%

Grade bands

A+ / A / A-
65–100 · Strong Buy / Buy
B+ / B
45–64 · Hold / Watch
B- / C+
30–44 · Caution
C / D / F
Below 30 · Pass / Avoid

Property Summary

A classic Epsom bungalow on a generous 607 m² freehold section within the coveted double grammar school zone. The property retains much of its original character while offering genuine scope for modernisation to unlock significant capital uplift in one of Auckland's most consistently high-performing suburbs.

Property type
Residential dwelling
Land area
607 m²
Floor area
195 m²
Year built
c. 1968
Title type
Freehold
Bedrooms
4
Bathrooms
2
Zoning
Single House Zone

Who Is This Property Best Suited For?

Ratings reflect how well this property's location, layout, condition, size and zoning suit each type of buyer. These are suitability ratings only, not purchase recommendations.

First Home Buyer

6

A strong long-term buy, but the $1.85M+ entry price will be a stretch for most first-home buyers without a significant deposit or income.

Owner Occupier

9

An excellent fit — double grammar zone access, generous land, and room to add value make this ideal for a family wanting to settle long-term.

Buy & Hold Investor

7

Modest rental yield (~3%) is offset by a strong, consistent capital growth track record in this suburb across multiple cycles.

BRRRR Investor

6

Renovation upside exists, but the high entry price and special character overlay reduce the speed and certainty of the value-add.

Fix & Flip Investor

6

A renovated grammar-zone home commands a deep buyer pool, but holding costs and consent requirements will narrow margins.

Holiday Home Buyer

3

Epsom is an established residential suburb, not a typical holiday destination — limited appeal for short-term leisure use.

Retiree

5

The large section and four-bedroom layout may be more space than required, though the location and amenities remain attractive.

Risk Analysis

Structural

Low risk

No recorded structural issues. Property is a 1968 build — a pre-purchase building inspection is recommended to identify any weathertightness or maintenance concerns typical of this era.

Severity: low
Likelihood: medium
Mitigation: Commission a licensed building inspector prior to going unconditional.

Legal / Title

Low risk

Clean freehold title. No encumbrances, caveats, or easements of concern noted in LINZ records. Standard covenant provisions from original subdivision apply.

Severity: low
Likelihood: low
Mitigation: Standard solicitor due diligence — review title, LIM, and consent history.

Flood

Low risk

Epsom sits on elevated volcanic terrain. No significant flood risk identified. Auckland Council flood mapping shows no inundation risk for this parcel.

Severity: low
Likelihood: low
Mitigation: No specific action required. Confirm via LIM report.

Coastal Hazard

Low risk

Property is inland with no coastal hazard exposure. No relevant coastal erosion or sea-level rise overlays apply to this address.

Severity: low
Likelihood: low
Mitigation: No action required.

Environmental

Low risk

No recorded contamination on the NES for Contaminated Land register. Connected to Auckland Council reticulated water and wastewater.

Severity: low
Likelihood: low
Mitigation: Standard LIM report review sufficient.

Key Negotiation Considerations

Factors worth investigating further before finalising a purchase decision.

  • Consent history for the special character overlay

    Confirm with Auckland Council which past alterations were consented and what scope of future work the overlay permits before budgeting renovations.

  • Age-related maintenance

    A 1968 build may carry deferred maintenance — factor potential roofing, plumbing, or wiring upgrades into your offer and timeline.

  • Healthy Homes compliance

    If renting the property out, check current insulation and heating against NZ Healthy Homes Standards and budget for any required upgrades.

  • Chattels and fixtures included

    Confirm which fittings, appliances, and outdoor structures are included in the sale price versus excluded by the vendor.

  • Vendor timeline and motivation

    Understanding why the vendor is selling and their preferred settlement date may create room to negotiate on price or conditions.

Flood & Environmental

Epsom sits on elevated volcanic terrain and is not subject to significant flood or coastal hazard risk. Auckland Council's flood viewer confirms no mapped inundation risk for this parcel. The property benefits from full council reticulated water, wastewater, and stormwater infrastructure.

Flood zone classification
None — no mapped flood risk
Coastal hazard
None — inland property
Contaminated land (NES)
Not listed
District plan overlays
Special Character Overlay (streetscape)
Drinking water zone
Auckland Council reticulated supply

Sale History

August 2022
+62.7%$1,920,000
March 2016
+62.8%$1,180,000
October 2009
+62.9%$725,000
May 2003
$445,000

Council Information

Council valuation (CV)
$1,850,000

Land: $1,200,000 · Improvements: $650,000

Annual rates (approx.)
$5,820
Zoning
Single House Zone
District plan overlays
Special Character Overlay (streetscape)
Title type
Freehold
Est. fair market value
$1,880,000

In line with CV — supported by recent comps

Cash Flow Projection

MetricConservativeModerateOptimistic
Weekly rent$1,050$1,150$1,250
Vacancy rate6%4%2%
Annual gross income$51,324$57,408$63,700
Property management$4,619$5,167$5,733
Maintenance$3,593$4,019$4,459
Insurance$2,200$2,200$2,200
Rates$5,820$5,820$5,820
Letting fee (1 wk rent)$1,050$1,150$1,250
Net Operating Income (NOI)$35,092$40,202$45,488
Mortgage payment (interest only)−$6,413/mo−$6,413/mo−$6,413/mo
Monthly cash flow after mortgage−$3,490−$3,053−$2,626
Cap rate1.9%2.2%2.5%
Cash-on-cash return-11.3%-9.9%-8.5%
Gross rent multiplier36.1x32.2x29x

Based on the following assumptions:

Purchase price (CV): $1,850,000

20% deposit: $370,000  ·  Loan (80%): $1,480,000

Interest rate: 5.2% p.a. interest-only (NZ 1-year fixed ~4.75% + investment property margin)  ·  Monthly mortgage: $6,413

Negative cash flow is normal for premium Auckland suburbs where the investment thesis is capital growth, not yield. For indicative purposes only — seek independent financial advice.

Potential Ownership Costs

The examples below are illustrative, based on the moderate cash flow scenario and the financing assumptions above (20% deposit, 80% interest-only loan at 5.2% p.a.). Actual costs will vary — seek independent mortgage and insurance advice.

Owner Occupier Example

Mortgage payment (illustrative)
$6,413/mo
Rates
$485/mo

$5,820/yr

Insurance
$183/mo

$2,200/yr

Maintenance allowance
$335/mo

$4,019/yr

Total est. monthly cost$7,416

Investment Property Example

Rental income
+$4,784/mo
Mortgage payment (illustrative)
−$6,413/mo
Rates
−$485/mo
Insurance
−$183/mo
Maintenance allowance
−$335/mo
Property management
−$431/mo
Letting fee (annualised)
−$96/mo
Net monthly cash flow$3,053

Neighborhood Analysis

School Quality
20
Safety & Crime
17
Walkability & Amenities
16
Demographics & Economy
18
Growth Trajectory
17
Neighborhood Total88/100

Nearby Schools

Auckland Grammar School (Decile 9)Epsom Girls Grammar School (Decile 9)Epsom Normal Primary (Decile 10)

Strengths

  • Double grammar zone — Auckland Grammar and Epsom Girls Grammar
  • Close to Newmarket and CBD, well-served by bus and rail
  • Affluent, low-crime suburb with strong community character

Concerns

  • High entry price limits buyer pool to higher-income purchasers
  • Special character overlay may restrict certain exterior alterations
  • Auckland market softness has dampened short-term price growth

Local Market Data

Balanced Market

$1,780,000

Median suburb price

38 days

Avg. days on market

−2.1%

Price movement (12mo)

Epsom remains one of Auckland's most resilient property markets, underpinned by the double grammar zone premium and constrained land supply. Prices have softened marginally in line with national trends but the suburb has historically outperformed Auckland-wide averages over 10-year cycles.

6-Month Outlook

Market stabilisation expected. Falling interest rates will lift buyer confidence and reduce days-on-market from the current 38-day average.

12-Month Outlook

Modest recovery of 4–6% forecast, with the double grammar premium providing a floor on pricing during any sustained downturn.

Recent comparable sales

PropertyPriceDate
Nearby bungalow, 4bd14 Rangi Rd, EpsomView listing $1,895,000Apr 2026
Character home, 4bd31 Marsden Ave, EpsomView listing $1,820,000Mar 2026
Renovated villa, 3bd7 Gillies Ave, EpsomView listing $1,750,000Feb 2026
Original bungalow, 4bd52 Valley Rd, EpsomView listing $1,780,000Jan 2026

These four comparable sales range from $1,750,000 to $1,895,000 and support a fair market value in the $1,780,000–$1,920,000 range — broadly in line with the property's $1,850,000 council valuation. Price per square metre ($9,300–$10,000) is consistent across all four, suggesting the suburb's pricing is well-established with limited room for a significant discount.

Investment Insights

3.0%

Est. gross yield

+165%

Capital growth (10yr est.)

A-

Investment grade

Low yield (2%)3.0% gross yieldHigh yield (7%+)
Below avgAvg rangeAbove avg

Epsom is one of Auckland's premier investment suburbs, consistently delivering above-average capital growth driven by the double grammar school zone premium and constrained supply. Gross rental yield is modest at 3.0% — in line with premium Auckland suburbs — but long-term capital appreciation is the primary investment thesis here.

Rental Income

$1,050–$1,250

Weekly rent

$58,500

Annual gross

3.0%

Gross yield

Typical vacancy rate
2–4%
Rental demand
Very strong — high demand from families seeking grammar zone access
Short-term rental potential
Medium

Comparable rentals

4-bed house, Epsom (grammar zone)22 Gillies Ave, EpsomView listing $1,200/wk
3-bed house, Epsom8 Valley Rd, EpsomView listing $1,050/wk
4-bed house, Mt Eden (nearby)45 Balmoral Rd, Mt EdenView listing $1,150/wk

Healthy Homes Compliance (NZ)

⚠ May require work to meet NZ Healthy Homes Standards

Estimated compliance cost: $3,000$6,000

Likely requirements

  • Ceiling and underfloor insulation may need topping up to meet current R-value requirements
  • Heating capacity check for the main living areas — a fixed heater meeting the required output may need installing
  • Extractor fans required in the bathroom and kitchen if not already fitted
  • Draught stopping around external doors, windows, and unused fireplaces

Rental properties must comply with NZ Healthy Homes Standards — a professional assessment can confirm compliance.

Investment Strategies

Buy & Hold

84
84

Optimal strategy for this property. Epsom has delivered consistent above-average capital growth over multiple cycles with very low vacancy risk.

Key metric: Annual return: 8.1%

BRRRR

62
62

Viable with a targeted $100–140K renovation. Special character overlay may restrict some exterior changes — check council consent requirements.

Key metric: Cash in deal: $210,000

Fix & Flip

58
58

Reasonable margin for a well-executed renovation. Buyer pool is deep for renovated grammar-zone properties, supporting a strong resale price.

Key metric: Est. profit: $120,000 (6.1%)

What each strategy means:

Buy & Hold — purchase and retain the property long-term, renting it out for ongoing income while it benefits from capital growth over time.
BRRRR — Buy, Renovate, Rent, Refinance, Repeat: buy below market value, add value through renovation, rent it out, then refinance against the higher value to recover capital for the next purchase.
Fix & Flip — buy, renovate, and resell relatively quickly, aiming to capture the renovation's uplift in value as profit rather than holding the property long-term.

Growth Projections

Conservative scenario

YearProperty ValueEquityAnnual Cash FlowCumulative Cash FlowTotal Return
Year 1$1,942,500$462,500-$41,880-$41,880$50,620
Year 2$2,039,625$559,625-$40,850-$82,730$106,895
Year 3$2,141,606$661,606-$39,790-$122,520$169,086
Year 4$2,248,686$768,686-$38,700-$161,220$237,466
Year 5$2,361,121$881,121-$37,580-$198,800$312,321

Moderate scenario

YearProperty ValueEquityAnnual Cash FlowCumulative Cash FlowTotal Return
Year 1$1,942,500$462,500-$35,552-$35,552$56,948
Year 2$2,039,625$559,625-$34,310-$69,862$119,763
Year 3$2,141,606$661,606-$33,031-$102,893$188,713
Year 4$2,248,686$768,686-$31,712-$134,605$264,081
Year 5$2,361,121$881,121-$30,355-$164,960$346,161

Optimistic scenario

YearProperty ValueEquityAnnual Cash FlowCumulative Cash FlowTotal Return
Year 1$1,942,500$462,500-$30,107-$30,107$62,393
Year 2$2,039,625$559,625-$28,777-$58,884$130,741
Year 3$2,141,606$661,606-$27,407-$86,291$205,315
Year 4$2,248,686$768,686-$25,996-$112,287$286,399
Year 5$2,361,121$881,121-$24,542-$136,829$374,292

What each column means:

Property Value — estimated market value growing at the suburb's annual capital growth rate from the purchase price. The same across all scenarios, as capital growth assumptions don't vary by rental scenario.
Equity — property value minus outstanding loan. The loan stays fixed because it is interest-only and never reduces.
Annual Cash Flow — that year's rental income minus all costs (mortgage, rates, management, maintenance, insurance, letting fees), using that scenario's rental assumptions. Improves each year as rent grows but the mortgage stays fixed.
Cumulative Cash Flow — running total of all annual cash flows to date.
Total Return — overall financial position: equity gain on your deposit, plus the cumulative cash shortfall or surplus.

Purchase price: CV $1,850,000 · Deposit: $370,000 (20%) · Loan: $1,480,000 at 5.2% interest-only · 3% annual rental growth · 5% annual capital growth (Epsom historical average). These are illustrative scenarios based on the stated assumptions, not forecasts or guarantees of future performance.

Renovation Insights

OpportunityEst. CostValue AddComplexityBest Suited For
Kitchen modernisation$30,000$55,000+$55,000$90,000MediumOwner occupier, Fix & Flip
Bathroom renovation (×2)$22,000$38,000+$35,000$55,000MediumOwner occupier, BRRRR
Master ensuite addition$25,000$40,000+$40,000$65,000HighOwner occupier, Fix & Flip
Outdoor entertaining area$25,000$45,000+$35,000$60,000LowOwner occupier, Buy & Hold

Estimates are indicative. Obtain quotes from licensed builders before proceeding.

AI Recommendations

BUY

Recommendation signal

Conditions appear favourable based on the analysis above

✅ Analysis supports proceeding — conditions appear favourable

A well-located Epsom bungalow in the double grammar zone with strong long-term capital growth, low risk profile, and deep rental demand. The current market softness presents an attractive entry point in one of Auckland's most resilient suburbs.

Estimated market range (based on comparable sales)

$1,780,000$1,920,000

Derived from recent comparable sales data. This is not a valuation or financial advice.

Double grammar school zone is a durable, structural premium that consistently supports price floors and rental demand.

Low risk profile — no flood, coastal, or environmental concerns. Clean freehold title.

Strong renovation upside — a $100–150K kitchen, bathroom, and outdoor refresh could add $200–300K in value.

Gross rental yield is modest at ~3% — this is primarily a capital growth play, not a yield play.

Special character overlay applies — confirm with Auckland Council what exterior changes require consent before budgeting renovation.

Key contingencies

  • Subject to satisfactory building and LIM report
  • Subject to solicitor review of title and special character overlay conditions
  • Subject to finance approval at satisfactory interest rate

Next steps

  1. 1.Engage a licensed building inspector for a pre-purchase inspection
  2. 2.Request a LIM report from Auckland Council
  3. 3.Consult a mortgage adviser to confirm pre-approval and optimal structure

Key Buyer Takeaways

Strengths

  • Located in the double grammar school zone (Auckland Grammar and Epsom Girls Grammar)
  • Clean freehold title with no encumbrances or caveats
  • Generous 607 m² section with scope for extension or future redevelopment
  • Consistent long-term capital growth — four sales since 2003 each showing strong gains

Risks

  • High entry price ($1.85M+) limits the buyer pool to higher-income purchasers
  • Gross rental yield is modest at ~3%, well below typical investment benchmarks
  • Special character overlay may restrict some exterior renovation work
  • 1968-era construction may carry deferred maintenance and Healthy Homes upgrade costs

Suitable Strategies

  • Owner-occupier family home — double grammar zone access
  • Buy & hold rental — long-term capital growth focus
  • Renovate & hold — kitchen and bathroom refresh to lift rental and resale value
  • Land value play — large freehold section in a high-demand suburb

Due Diligence Items

  • 1.Pre-purchase building inspection — check for weathertightness and age-related wear
  • 2.LIM report — review consent history and special character overlay conditions
  • 3.Confirm Healthy Homes compliance status and any upgrade costs if renting
  • 4.Solicitor review of title and any covenants from the original subdivision

Disclaimer: This is a sample report using fictional data for illustrative purposes only. Real reports are based on publicly available data current at the date of issue. Reports do not constitute legal, financial, or professional property advice.

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