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Back 108 Queen Street
Off Market

108 Queen Street

North Dunedin Otago

10
2
2
310 m²
617 m²
House
Matt CutlerMatt Cutler, last sold this property on 28 August 2025 after 177 days on market.

Overview

Exceptional Investment Opportunity

This is a rare opportunity to acquire one of the most sought-after flats in the city's premier student rental location. Situated on a highly desirable street for third-year university students, this property consistently attracts strong tenant demand. Every year, around Easter, we receive multiple inquiries from female groups, very eager to secure these flats for the following year. Originally rented as two separate five-bedroom flats, this property recently evolved into an extremely popular 10-bedroom residence, consistently securing high-quality tenants and delivering steady rental growth. In recent times, the building has undergone a number of upgrades including re-cladding with linea weatherboard, new paint, carpet/vinyl/ curtains and double glazing. Spread over three stories, the property consists of 10 spacious bedrooms, 2 bathrooms, 2 toilets, 2 laundries, 2 spacious, open plan kitchen/ living / dining areas, 2 car ports and an easy to maintain courtyard/ section out back that is positioned well for afternoon sun. Strong Rental Returns & Future Growth • Currently rented at $2,080 per week for the remainder of 2025 • Signed already for 2026 to a group of girls at $2240 per week (6.85% return on the asking price) • A simple kitchen renovation and the addition of dishwashers would see a significant increase in income and property value Capital Growth Potential The appeal of high-demand, 10-bedroom flats is their ability to generate exponential value growth. • At a 6.5% cap rate, a $10 per room rent increase equates to $80,000 in added property value • Based on rising student demand and forecasted interest rate reductions, an annual value increase of at least $80,000 is a conservative estimate for the remainder of the decade • 8+ bedroom flats are in very high demand and low supply. This is an exceptional mid-to-long-term investment in a thriving rental market. Secure this prime asset now and benefit from strong yields, consistent appreciation, and no vacancy risk for years to come.

Features

10 bedrooms
2 bathrooms
2 carspaces
2 carport spaces
310 m² floor area
617 m² lot size
House

Estimated Value

We need at least 3 similar 10 bedroom houses sold in North Dunedin over the last 12 months.

Property history for 108 Queen Street

2025
Sold
Undisclosed
28 Aug 2025 by Matt Cutler, of Cutlers

Happy sellers in North Dunedin

89%
89% of sellers in North Dunedin reported that their sale price either exceeded or met their price expectations.

North Dunedin stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 9 reviews in North Dunedin over the last 12 months.

Local market activity for 10 bedroom houses in North Dunedin

In the last 12 months, 1 numeral.10-bedroom house similar to 108 Queen Street, have been sold.

This represents a 100% decrease in numeral.10-bedroom houses sales when compared to the previous 12 months.

Nearby agents

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Jason Hynes

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Matt Cutler

Sellers who recommend Matt Cutler have praised them for being local expert and clear communication

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Denise Casey

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Madelon White

Sellers who recommend Madelon White have praised them for being clear communication, local expert, supportive, responsive, well-prepared, reliable and friendly

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