151 Queen Street, North Dunedin, Dunedin City, Otago
Dunedin, New Zealand
Guide Price
$422,820
729,000 NZD
PROPERTY TYPE
house
BEDROOMS
5
BATHROOMS
2
Description
We've proudly managed this property for the past three years, and the income growth tells a compelling story. In 2024, it was rented at $800 per week. Fast forward to 2026, and it is returning $975 per week through to the end of the year. That's a significant uplift in a short timeframe, reinforcing this property's position as a proven, high-performing investment in the tightly held North Dunedin area. Recent upgrades have been completed to the lower-level bedrooms and bathroom, including freshly painted walls, the installation of a new heat pump, and new carpet throughout the home. There is still potential for further improvements to the upstairs bedrooms, along with modern upgrades to the kitchen and bathroom, which would significantly enhance both rental appeal and overall property value. With a strong rental track record, established tenant demand, and reliable income growth, this represents a high-yielding investment opportunity in a premium location. Key
features: New carpet installed throughout the home in 2025 HRV system installed Upgrades to the bathroom and two downstairs bedrooms, plus a new heat pump Wood burner and heat pump upstairs
Location
Open in Google MapsLiving in Dunedin
Morning surf before work, weekends tramping through Lord-of-the-Rings landscapes, and a laid-back culture where shoes are optional and nature is never more than ten minutes away.
Visa
Skilled Migrant Category Resident Visa — points-based system requiring a skilled job offer in NZ. New pathways opening August 2026 for trades workers and those with 5+ years experience. Accredited Employer Work Visa is the faster route if you already have a job offer.
Learn more: The Complete Guide to Moving to New Zealand→Key Fact
NZ has strict biosecurity laws — importing food, plants, or outdoor gear can result in heavy fines. The work-life balance is exceptional, but the job market is small and remote from everywhere.
Learn more: What You Need to Know Before Moving Abroad→New Zealand at a glance
How New Zealand scores for American expats
Cost of buying in New Zealand
Estimated fees and ongoing costs for this property
Closing Costs
3-5% of purchase price
- ·No stamp duty
- ·Legal/conveyancing: NZ$1,500-3,000
- ·Building inspection: NZ$500-800
- ·LIM report: NZ$300-400
Annual Costs
Property Tax
0.3-1.5% of government valuation (varies by council)
Insurance
NZ$1,500-3,000/yr
HOA / Condo Fees
NZ$300-600/mo for apartments (body corporate)
Good to Know
Agent Fees
Seller pays (2.5-4%)
Foreign Buyer Note
Foreign buyers BANNED from existing homes (2018 ban). Can only buy new-build apartments in large developments.
Legal help in New Zealand
Hire your own attorney — not the seller's. We'll match you with a vetted local lawyer.
Need a local attorney in New Zealand?
We'll connect you with an independent, English-speaking real estate attorney experienced with foreign buyers. Not the seller's lawyer — yours.
Contact Agent
Matt Petre - DMMC Ltd (Licensed: REAA 2008) - Cutlers Dunedin
Next steps for moving to New Zealand
Interested in this property? Here's how to move forward.
Understand the buying rules
Foreign ownership laws vary wildly by country. Some welcome you, others restrict or ban foreign buyers entirely.
Sort out your visa
Owning property doesn't give you the right to live there. Research residency options before you buy.
Plan your finances
Understand currency risk, international wire transfers, and whether you can get a local mortgage.
Know your tax obligations
US citizens are taxed on worldwide income. You'll need to file US taxes from abroad and may owe local taxes too.
Set up healthcare
Medicare doesn't cover you overseas. You'll need international health insurance or a local plan.
Run the full checklist
Banking, mail forwarding, power of attorney, pet import rules — the complete pre-move checklist.
realestate.co.nz
NZD