$800K
$120,889
"Original, threebedroom farm house situated upon a fairly level, 38.94 acre parcel of prime farming land, situated upon Right Bank Road Belmore River. This area has been used for dairy farming, beef cattle and haysilage production for the past 100 years. Belmore River is located a stones throw from this property where you can enjoy a spot of fishing and provides the ideal backdrop to soak in the stunning views the valley has to offer. Whatever you desire, this property provides the perfect oasis to indulge in the highly sort after coastalcountry lifestyle. The improvements consist of the three bedroom original farm house with solid foundations, which with a face lift would make the ideal family home.The property also boasts a single lockup garage in original condition, and includes a fully fenced house yard and boundary. The real asset here is the prime farming land which is supported securely by town water. Excellently suited to fattening, grazing, haysilage or hobby farm activities.The property enjoys council tar road frontage and town water, with a securely serviced water trough for livestock ventures. This property is a once in a lifetime opportunity to secure a Lower Macleay jewel so close to the coast. The property is a mere 15 minute commute to the stunning beaches of Crescent Head, 10 minutes to the charming town of Gladstone and 20 minutes to the bustling town of Kempsey, which provides ample opportunities for schooling, occupation and lifestyle endeavours. This property is not one to be missed, contact the agent to inspect today."
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2021 Population
Suburbs
Health Care and Social Assistance - 17.0%
Retail Trade - 12.0%
Education and Training - 10.0%
Accommodation and Food Services - 9.0%
Others - 52.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Rental Yield
Average Vacancy Rate
Average Days of Supply
Sold Price
Asking Price
-
79.7%
-
-
-$145,000
-$20,714
2.8%
2.0%
-16.7%
6.0%
Asking Price
$800,000
Estimated Purchase Price
$745,000
Stamp Duty
$28,260
Transfer Fee
$165
Conveyancing
$1,480
Deposit (10%)
$74,500
Reg. Mortgage
$164
LMI Premium
$19,184
Renovation Costs
-
Total Cash/Equity Required
$124,304
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$20,800
$29,605
Property Management
+7.7% PA
$1,602
$2,280
Rates
+3.0% PA
$1,160
$1,514
Water
+3.0% PA
$1,127
$1,470
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$14,661
$21,406
Interest Repayments
$44,253
$44,253
Net Cashflow Before Tax
-$29,592
-$22,847
Depreciation
-
-
Tax Offset
-$8,877
-$6,854
Net Cashflow After Tax
-$20,714
-$15,993
Assumptions
Year 1
Year 10
Property Value
6.8%
$640,800
$1,158,414
Loan Balance
I.O
$670,500
$670,500
-$29,700
$487,914
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