Enquiries Over $879,000
3 2 2
Family Living with Stunning Maungatua Views.
27 Formby Street, Outram
LJ Hooker Dunedin
1 / 33
Unclaimed
10 Orme Street, Outram
Dunedin City
Negotiation
- 4
- 1
- 5
- 1,012 m²
- House
Great house, great garaging!
For those looking for garaging or a workshop space, plus a warm comfortable home, this perfectly utilised quarter acre in sunny Outram is it.
For those who love garaging, let's talk about that first. Along with a carport at the front, this property has a 14m x 7.3m shed with a double door, plus single door for garaging, plus ample workshop space and power supply to enable your hobbies.
The double-glazed home sits perfectly to the sun with a spacious open plan living that features easy access to the patio and deck and a large gas fireplace. A generous dining area adjoins the kitchen with excellent storage and bench space, with a heated tiled floor. A further separate lounge adds functionality for families.
There are four bedrooms available, with the fourth currently set up as a great office space. The family bathroom offers both bath and shower options with a heated tile floor.
Further added benefits are solar panels for water heating and an easy-care garden with tunnel house.
Properties offering both a great house and great garaging are rare, be sure to view early.
Added to OwnBetter 10 Nov 2026
OwnBetter estimate
$710k
Medium confidence
We estimate it would sell for $710,000 as at 5 October 2026, in a range of $607,000 to $808,000.
Typical home in Outram
$794k
The median of our estimates of its 392 homes
$607kLow
$680kCouncil value
$710kEstimate
$808kHigh
How we worked this out
| Council valuation, Jun 2025 | $680,000 |
|---|---|
| Market movement in Dunedin City since the council valuation | +3.3% |
| Homes of this age in Outram | −0.5% |
| Homes in this price range | +0.2% |
| Land as a share of the value | +0.4% |
| Nearby recent sales (15) | +1.1% |
| Our estimate | $710,000 |
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 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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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
10 Orme Street as a rental
Rent estimate$640/wk$550–$740 · Little evidence
Gross yield4.7%$33,280 a year on $710k
Net yield3.9%After $5,888 of costs
Cash flow−$47/wk30% deposit, interest only at 6.00%
| Line | ||
|---|---|---|
| Price Our estimate | ||
| Deposit | ||
| Interest rate | ||
| Rent a week our estimate $640 | ||
| Property manager | ||
| Rent, 52 weeks | $33,280 | |
| 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 | $27,392 | |
| Interest $497,000 at 6.00%, interest only | −$29,820 | |
| Cash flow before tax | −$2,428 | |
| Cash flow a week | −$47 | |
| Gross / net yield on the price | 4.7% / 3.9% | |
| Return on equity cash flow on the deposit, before tax | −1.1% | |
| Loses money above this interest rate, before tax | 5.51% | |
Type over any figure, add your own lines, or add a scenario to compare.
The rent covers the interest at rates up to 5.51%. That is -1.1% a year on a $213k deposit. A guide before tax and capital growth, from our estimates; not financial advice.
Property data
- Floor area163 m²
- Land area1,012 m²
- Decade built1970s
- Bedrooms3
- Bathrooms2
- Parking4 car spaces
- Property categoryUse not published
- CouncilDunedin City
- Valuation #27921-20800
- Valuation date1 Jun 2025
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 numberOT5D/1400
- Title typeFreehold
- Legal descriptionSection 15 Block XI Town of Outram
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
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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 Outram
Dunedin City
470
Properties on the rating roll
1 Jun 2025
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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