$1.75M
$274,046
Confidence
High
High
$1,650,000
Medium
$1,500,000
Low
$1,350,000
Confidence
Moderate
"Welcome to the enchanting Magnolia House and Magnolia Cottage, a remarkable dual accommodation property nestled in the highly desirable King Creek area, just a short 15minute drive from the beautiful beaches of Port Macquarie. Set on an expansive 6,784m block, this property presents a unique opportunity for those seeking either a spacious family home with dual living options or a lucrative incomegenerating investment. Magnolia House is thoughtfully designed for both family living and entertaining, boasting four generously sized bedrooms plus a dedicated study, along with an additional parents retreat that can also function as an office. The heart of this home is the gourmet kitchen, a true chefs delight, featuring stunning granite benchtops, a DeLonghi 900mm gas cooktop and electric oven, a Bosch dishwasher, an inviting island bench, and elegant pendant lights that beautifully illuminate the space. The open floorplan ensures that every corner is filled with warmth and comfort, providing ample areas for the entire family to gather and enjoy. Step into the inviting sitting room, where large stacking doors seamlessly transition to a spacious deck that extends the length of the house, enhancing the indooroutdoor living experience. For those who love to entertain, a dedicated games room or party space awaits outside, perfect for enjoying pool, darts, or card games with friends and family. The property is further complemented by an inground swimming pool with an undercover cabana, creating a resortstyle atmosphere, along with a charming bull nose verandah that wraps around the house. A double garage provides convenient internal access, ensuring ease of movement throughout the home. The master bedroom, thoughtfully positioned at the northern end of the residence, serves as an idyllic parents retreat, currently transformed into a serene dressing room but equally perfect for young children or new mothers needing to be close by. As you step through this tranquil space, you are welcomed into an expansive bedroom that radiates luxury and comfort. The opulent ensuite bathroom features a lavish twoperson spa bath, inviting you to unwind and rejuvenate after a long day. Complementing this retreat is a generous walkin robe, providing organization for your wardrobe, along with private access to the charming front verandah, where you can enjoy morning coffee or evening sunsets. The second and third bedrooms are equally impressive, each enhanced by their own walkin robes, ensuring that every family member enjoys a touch of luxury and convenience. The fourth bedroom is a delightful addition, featuring its own ensuite complete with a shower and toilet, as well as external access to the rear verandah. This thoughtful design creates an ideal space for guests, providing them with comfort and privacy. The surrounding areas are thoughtfully designed, with inviting indoor and outdoor deck spaces that are perfect for outdoor cooking, lively gatherings, or simply savoring a quiet moment in your own private nook. Whether entertaining friends or enjoying a tranquil evening alone, this residence offers the perfect blend of luxury and comfort, making it a true haven for relaxation and enjoyment. Adding to the allure of this property is Magnolia Cottage, a charming one bedroom retreat featuring a sunroom or patio, a fullsize ensuite bathroom, and a fully equipped kitchen complete with a builtin table and a generous pantry. The cozy living room leads out to its own deck, overlooking the serene rear yard, making it an inviting space for guests or perfect for permanent accommodation for family members. This delightful cottage also presents a fantastic opportunity for rental income, with potential earnings of 400 to 450 per week for longterm rentals, or 250 to 280 per night as an Airbnb. Nestled against the picturesque backdrop of the nearby dam with its majestic water feature, this property ensures both privacy and tranquility. Magnolia House is perfect for those who love to entertain, offering dedicated dining areas for elegant dinner parties and informal dining spaces adjacent to the kitchen with views of the lush backyard. Additional Features Plantation shutters installed throughout the home. Tiled floors in all informal living areas and carpeted floors in bedrooms and other areas. Energyefficient LED lighting throughout the house. Outdoor ornamental lights and feature pendant lighting. Granite countertops in the kitchen and bathroom vanities. Ducted air conditioning system to the main house, reverse cycle air condition to the cottage Travertine tiles surrounding the inground swimming pool, complete with an undercover cabana. Town water supply with additional 22,000liter rainwater tank and a 5,000liter rainwater tank connected to external garden taps. Environmentally friendly septic system serviced quarterly. Bull nose verandah and a double garage with remote door. Cleared area prepared for building your dream shed or can be used as a parking area. Fully selfcontained cottage featuring a fullsize kitchen, bathroom, and a spacious bedroom with access to its own deck and patio. Zoning R5 Large Lot Residential Council Rates 520 per quarter Rent Potential Main house with pool 10001100 per week Cottage 400450 per week All as one no utiltiies 11001200 per week For more information or to schedule a viewing, please contact Jenny Magill on 0490 403 051. DISCLAIMER The information contained in the advertising of this property is based on information provided to the agents, and the vendor and agents expressly disclaim any liability arising therefrom. The accuracy of the information cannot be guaranteed, and prospective purchasers should make their own enquiries and form their own judgement as to these matters."
-
81.1%
$1.3M
3.1%
$1,490,000
+
468.0%
386.4%
731.9%
6.0%
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewAsking Price
$12,000
Estimated Purchase Price
$10,000
Stamp Duty
$125
Transfer Fee
$165
Conveyancing
$1,480
Deposit (10%)
$1,000
Reg. Mortgage
$164
LMI Premium
$154
Renovation Costs
-
Total Cash/Equity Required
$3,639
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$46,800
$66,611
Property Management
+7.7% PA
$3,604
$5,129
Rates
+3.0% PA
$1,174
$1,532
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
$38,645
$55,544
Interest Repayments
$594
$594
Net Cashflow Before Tax
$38,051
$54,950
Depreciation
-
-
Tax Offset
$11,415
$16,485
Net Cashflow After Tax
$26,636
$38,465
Assumptions
Year 1
Year 10
Property Value
6.8%
$1,602,000
$2,896,035
Loan Balance
I.O
$9,000
$9,000
$1,593,000
$2,887,035
Below are some similar properties in the area you may be interested in.
Location, Location, Location. Selecting an investment location set to grow, gentrify and prosper can set our investments up for success. So how do we find these High Performance locations across Australia? Property Investment is a science. Our Data Scientists have analyzed the most important factors that help identify when an area is set up for strong investment opportunities.
2021 Population
Suburbs
Health Care and Social Assistance - 18.0%
Retail Trade - 12.0%
Accommodation and Food Services - 10.0%
Education and Training - 10.0%
Others - 50.0%
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