7 Elizabeth Street, Patea, South Taranaki, Taranaki
New Plymouth, New Zealand
Guide Price
$164,610
279,000 NZD
PROPERTY TYPE
house
BEDROOMS
3
BATHROOMS
1
Description
Investors can expect a yield close to 8% from this recently refreshed 1950s freehold home on Elizabeth Street. With three bedrooms and a single bathroom across 110m², the property has received a new interior re-paint and recently refreshed exterior paint, giving it a modern, clean feel. Equipped with a heat pump, wood burner, and electric hot water, along with included light fittings, stove, and range hood, the home is move-in ready and designed for long-term tenant appeal. This property is Healthy Home compliant, ensuring security and compliance for investors. With a rental appraisal between $400–$450 per week, it represents a strong, reliable addition to any portfolio. Located in the charming town of Patea, the home offers both rural and urban views, a welcoming community, and easy access to shops, recreation, and weekend adventure spots. Priced to sell, this property is an outstanding investment opportunity, don’t miss the chance to secure this affordable, high-yielding gem.
Location
Open in Google MapsLiving in New Plymouth
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.
Interested in this property?
Send us a message — we'll review and reply within 1–2 business days. You'll always see the original portal link too.
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
Latesha Berry - Metcalfe Real Estate Ltd (Licensed: REAA 2008)
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