Heritage New Zealand historian Heather Bauchop said the rare surviving example of a colonial cottage, in a townscape now dominated by large modern homes, was built in the late-1870s.
The cottage was built for Wanaka businessman Archibald Chalmers, who established a butchery and slaughteryard close by.
Ms Bauchop said this was controversial as many people thought the slaughteryard was too close to town. She said the cottage had been restored to its original form by its current owners since they purchased the property in 1994.