$650K
$110,273
"The perfect escape. This property is situated just 4 minutes walk to the sparkling waters of Pumicestone Passage, with views to Bribie Island. Located in the coastal village of Toorbul, this tidy 3bedroom cottage is set on 615sqm block which backs onto a council reserve, ideal for downsizers, young families, those wishing to renovate, or investors. In summary Great location. 3 Bedrooms. 1 Bathroom. Airconditioned Kitchen, Living and Dining. Newly renovated kitchen. Relaxing front deck. The 6kw solar system indicates a commitment to energy efficiency and sustainability. Large 8x6 garageshed with 8x3 carport. Drive through access to fenced backyard. Enjoy walking along the pristine waters, on wellplaced pathways, proximity to boat ramps nearby, playgrounds, BBQ areas with table and bench seating, some under gazebo structures, to enjoy the peaceful stunning views. This property is currently tenanted until mid January 2025. For the investor, this property would rent in the vicinity of 500 525 per week in the current rental market. Ten minutes drive to Bruce Highway and the new Big Fish Shopping precinct recently finished including Bunnings, Coles, Chemist Warehouse and many more retailers moving into the newly developed complex. This beautiful, quiet tranquil lifestyle is waiting for you. So, contact Ralph for more information or private inspection. Property Code 142"
-
70.8%
$705K
3.4%
$30,000
-$13,556
4.0%
3.0%
-12.3%
6.0%
Asking Price
$650,000
Estimated Purchase Price
$650,000
Stamp Duty
$22,275
Transfer Fee
$2,204
Conveyancing
$1,665
Deposit (10%)
$65,000
Reg. Mortgage
$224
LMI Premium
$18,354
Renovation Costs
-
Total Cash/Equity Required
$110,273
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$26,000
$37,006
Property Management
+7.7% PA
$2,002
$2,849
Rates
+3.0% PA
$1,103
$1,439
Water
+3.0% PA
$1,401
$1,828
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$19,244
$27,954
Interest Repayments
$38,610
$38,610
Net Cashflow Before Tax
-$19,366
-$10,656
Depreciation
-
-
Tax Offset
-$5,810
-$3,197
Net Cashflow After Tax
-$13,556
-$7,459
Assumptions
Year 1
Year 10
Property Value
6.8%
$726,240
$1,312,869
Loan Balance
I.O
$585,000
$585,000
$141,240
$727,869
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2021 Population
Suburbs
Health Care and Social Assistance - 15.0%
Retail Trade - 14.0%
Education and Training - 11.0%
Construction - 10.0%
Others - 50.0%
Average Income
Average Population
projected
for 2024 to 2026
Average Vacancy Rate
Average Days of Supply