Is the 40 m² figure correct for the entire four-bedroom duplex, or does it refer to only part of the property? That makes a major difference. I’d also want to know the minimum lease length and whether NZ$7,033 includes any utilities before considering it.
How is it being financed? A respectable net property yield can still produce weak or negative cash flow if borrowing costs rise or principal repayments are included. Run at least a base case and a higher-cost financing case. The acceptable yield depends heavily on leverage and how much cash...