$650K
$104,953
Confidence
High
High
$680,000
Medium
$650,000
Low
$620,000
Confidence
Medium
"Centrally located near Northgate Shopping Centre and adjacent Montrose Foreshore Park, this 1958 weatherboard home will pique the interest of astute buyers seeking an opportunity to develop or renovate and add value. The property is tenented with 690 per week until 17032024. Great home for 1st home buyers investors Approx. 776m2 block, demolish develop STCA Promising potential to renovate add value Generously proportioned kitchen lounge Four bedrooms, main with walkin wardrobe Family bathroom, separate toilet laundry Covered patio ideal for outdoor entertaining Level, fenced garden with three outbuildings Large single carport plus offstreet parking 550 metre walk to Montrose Foreshore Park Only 1.5km from Northgate 9km to the city Close to schools, swimming pool transport Built 1958 Construction Weatherboard Heating Heat Pump Council Rates approx. 1,750 pa Water Rates approx. 1000 pa plus usage Rental Rate 690 per week"
2.8%
54.4%
-
-
-$615,000
-$29,100
-
-
-27.7%
-
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewAsking Price
$650,000
Estimated Purchase Price
$615,000
Stamp Duty
$23,135
Transfer Fee
$233
Conveyancing
$1,847
Deposit (10%)
$61,500
Reg. Mortgage
$152
LMI Premium
$17,536
Renovation Costs
-
Total Cash/Equity Required
$104,953
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
-
-
Property Management
+8.8% PA
-
-
Rates
+3.0% PA
$1,841
$2,402
Water
+3.0% PA
$950
$1,240
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
-$5,041
-$6,577
Interest Repayments
$36,531
$36,531
Net Cashflow Before Tax
-$41,572
-$43,108
Depreciation
-
-
Tax Offset
-$12,472
-$12,933
Net Cashflow After Tax
-$29,100
-$30,176
Assumptions
Year 1
Year 10
Property Value
6.8%
-
-
Loan Balance
I.O
$553,500
$553,500
-$553,500
-$553,500
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2021 Population
Suburbs
Manufacturing - 14.0%
Retail Trade - 13.0%
Health Care and Social Assistance - 12.0%
Construction - 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