Withheld
$144,897
"Dream Renovation Alert Welcome to your future in the idyllic suburb of Machans Beach This 4bedroom home is now just a shell of itself as a result of the flooding from Cyclone Jasper. This is the opportunity for you where dreams come true, where memories are made, and where every day feels like a vacation, once you complete the renovation. Made for Entertaining This home was designed with fun and relaxation in mind. It has beautiful tropical gardens set on a CORNER BLOCK of approximately 597ms. There is a beautiful tropical landscaped garden with a shed, Bali gazebo and a stunning pool that has brand new pumps. This block is only about 175m from the beautiful Barron River and boat ramp area and approximately 500m to the beach. Key Features 1 carport but room to get multiple vehicles off the road. Solar power on the roof. Existing Slab and roof seem to be in reasonable condition but you be the judge for your future intentions. House has been fully gutted with kitchen, bathroom and all plaster removed. It was a 4 bedroom home with a decent sized open plan family meals area. Keep the existing structure and finish the renovation or demolish and rebuild a modern home. you be the judge Location, Location, Location Nestled in the charming suburb of Machans Beach, youll enjoy the tranquillity of suburban river and beachside life while being just a stones throw away from the citys amenities. Why Wait Your Dream Renovation Awaits This is more than just a property its an opportunity. An opportunity to do your own renovation and have the home youve always dreamed of with your style. Dont let this opportunity pass you by. Renovators delights like this do not last long my last two flooded homes like this were each sold within a week.. So what are you waiting for"
Below are some similar properties in the area you may be interested in.
2.2%
52.5%
$535K
4.6%
$70,000
-$52,008
2.1%
1.6%
-16.5%
6.0%
Asking Price
-
Estimated Purchase Price
$1,730,000
Stamp Duty
$80,000
Transfer Fee
$6,754
Conveyancing
$1,665
Deposit (10%)
$173,000
Reg. Mortgage
$224
LMI Premium
$53,608
Renovation Costs
-
Total Cash/Equity Required
$315,802
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$36,400
$51,809
Property Management
+7.7% PA
$2,803
$3,989
Rates
+3.0% PA
$1,482
$1,934
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
$28,464
$41,122
Interest Repayments
$102,762
$102,762
Net Cashflow Before Tax
-$74,298
-$61,640
Depreciation
-
-
Tax Offset
-$22,289
-$18,492
Net Cashflow After Tax
-$52,008
-$43,148
Assumptions
Year 1
Year 10
Property Value
6.8%
$1,922,400
$3,475,242
Loan Balance
I.O
$1,557,000
$1,557,000
$365,400
$1,918,242
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewLocation, 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 - 15.0%
Accommodation and Food Services - 11.0%
Retail Trade - 11.0%
Education and Training - 9.0%
Others - 54.0%
Average Income
Average Population
projected
for 2024 to 2026
Average Days of Supply