Positioned on one of Karori's most loved city-end streets, this charming home & income property delivers character, everyday practicality and a real income opportunity.

The separate one-bedroom studio (89A Nottingham Street) comes with its own access, private courtyard and an independent rental appraisal of $400-$450 per week. A predictable, supplementary income stream you can include in your affordability sums.

The main house offers three bedrooms, a renovated kitchen with a pretty dining nook and French doors opening to a private, sanctuary-like garden. A separate living room flows to a sunlit porch.

Thoughtful extras include large garden shed, attic storage and off-street parking.

The garden is lush and low-maintenance by design: layered, established planting that's designed to be left to itself, plus an established seasonal vegetable bed for those who wish to use it.

Schools, shops, buses and walking tracks are all a short stroll away, and the property is zoned for Wellington's preferred colleges.

Keep the studio for family use, or rent it out immediately to help service the mortgage. The rental appraisal on file and official "2 units of use" make this straightforward to model.

Financial snapshot (figures to include in your sums)

• Appraised rent: $400 - $450 per week.
• Annual (52 weeks): $400 x 52 = $20,800 to $450 52 = $23,400.
• Rating valuation (QV): $1,350,000.
• Gross rental yield for the studio (annual rent divided by valuation):
• $20,800 / $1,350,000 = 0.01541 - 1.54% pa (gross)
• $23,400 / $1,350,000 = 0.01733 -1.73% pa (gross)

Note: these yields are gross and do not include expenses (rates, insurance, maintenance, periods of vacancy, or management fees). The studio's weekly cashflow, however, is immediate and can be used directly to reduce weekly mortgage repayments or household expenses - you can plug the appraisal figures into your mortgage serviceability calculations.

Builders Report and LIM Report are available upon request.