Owning a piece of New Zealand paradise for $400,000 may be a possible dream with a beach front Hawke's Bay property going in a mortgagee sale.

The 1990s 3-bedroom house on 9 Bill Nolan Place is just metres way from the golden sands of Mahia Beach.

Mahia is about a seven-hour drive from Auckland, in the Hawke's Bay region, between Napier and Gisborne.

According to its Bayleys listing, the house also has a semi self-contained accommodation on the ground floor and extensive incomplete renovations which were started in the 2000s.

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The QV rating valuation for the house is $415,000.

"Quiet and peaceful, but just an easy wander around the local store for the morning paper, the cafe or the bar and bistro...you'll really feel in the heart of it all here," the listing says.

The local boat ramp is just 750m away, and it has an accessway through to the council reserve and the beach.

Only catch is - it's a mortgagee sale and mortgagee sales terms apply.

The property has not been inspected by the agent marketing the property, and the number or type of rooms cannot be verified.