It's a century-old shack and in need of serious renovating - but what makes it standout is that it is a do-up with views of Waitemata Harbour and Auckland city skyline.

Despite needing more than just a simple lick of paint and spruce up, the three-bedroom Bayswater home has a council valuation of $1.95 million.

It sits on a 984sq m block of land on the edge of the harbour and comes with its own historic boat shed surrounded by native pohutukawa trees.

The Bayswater views look directly at Auckland's city skyline. Photo / Supplied
The Bayswater views look directly at Auckland's city skyline. Photo / Supplied

Owner Denise Day bought the property three years ago with dreams of building a grand, multi-level home and infinity pool overlooking the "spectacular" views.

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She said she snapped it up double-quick because it was extremely rare to find such an under-developed waterfront block in the inner city.

"You can't find anything like it," she said.

"I told [the sellers] on the phone, I would buy it and then went and looked at it in person the next day and bought it - it was a very quick sale."

However, with her circumstances changing, Day has now put the 43 Norwood Rd home up for sale again.

The three-bedroom home has a council valuation of $1.95m. Photo / Supplied
The three-bedroom home has a council valuation of $1.95m. Photo / Supplied

Marketed as a "salvage opportunity" or chance to demolish and build your dream home, it has a set sale date for February 6.

Before Day purchased it, the home had previously been owned by just one family for more than 100 years, until the parents sold up when they became too old to continue living there.

The family built the original home and boat shed, with generations of children growing up in and around the water.

The home is a little rough around the edges and being marketed as a 'salvage opportunity'. Photo / Supplied
The home is a little rough around the edges and being marketed as a 'salvage opportunity'. Photo / Supplied

"It has got a lot of nostalgia and historical memory for that family," Day said.

"There was a boat built there, there's been weddings there."

While the house was not protected and could be demolished to make way for a new home, there were protected trees on the property.

It gave the property a peaceful feel with "beautiful bird life and its own path that weaves through the trees to the water's edge", Day said.

The home sits right on the edge of Waitemata Harbour. Photo / Supplied
The home sits right on the edge of Waitemata Harbour. Photo / Supplied

The boat shed was an extra "bonus" because without an existing structure like the shed it would be hard to get council consent to build near the water's edge, she said.

Day had planned to renovate the shed and create an area to sit and lie about, near the water's edge.

The previous owners had kept boats and canoes in the shed for their kids.

"That's another plus, you are right there for outdoor activities," Day said.