The Cup ½ Empty - (the bad news). Regrettably, we have not been given, and probably won't get access. But we do have a fair amount of information that we can work with. The ½ full part of the cup - (the good news). The house was built in the mid 70's, so it's been around for a while, some would say it's stood the test of time. The house is 90m2 on one level comprising of three bedrooms, bathroom with separate toilet, underneath is a large rumpus area. The property has a big north-facing partially covered deck that opens off the living area. Photos from when it was last listed for sale 3 or 4 years back would suggest the home enjoyed a decent sort of makeover then, that's not to say it's in that same condition now, but you never know. Our rental appraisal says it will rent out for over 30k a year. Considering the price range at where this property is likely to sell that means you are going to get a pretty good income yield right from the get-go. But wait there's more. The section is 617m2 of land on a freehold title zoned URBAN. The street side boundary is a little over 20 metres wide. So a decent sized section, zoned for medium-density development with a nice wide street frontage, oh and really handy underground services. This is a section begging for redevelopment. So there you go, the mortgagees want the property gone, obviously limited or no access is going to hammer the price. Because of that alone, this is not a proposition for the faint-hearted but given what I have outlined above someone is going to get a cracker of an opportunity at a killer price. We are taking the property to auction, and that is going to happen in our auction rooms at Harcourts Takapuna on June 13th.