$620K
$105,808
"The Cottage King Island represents a wonderful opportunity to purchase a small slice of King Island life with potential for future expansion, whether as a tourism venture or to enjoy as a lovely quiet island retreat with fabulous infrastructure and low maintenance gardens, within an extremely private and very manageable just over 2 hectares of rolling countryside, only minutes from some of the islands most spectacular beaches. This property would be the perfect weekend holiday escape, first home purchase or peaceful retirement living dream. The Cottage King Island is discreetly tucked away in a quiet country setting, providing complete seclusion and comprises of an absolutely charming, recently fully renovated, including new roof and rendered brickwork, two bedroom, 2 bathroom home with light and bright kitchen, living room with cosy wood fired heater, with an adjoining garage that could easily be converted into an extra living zone or master suite, perfect for private living or holiday letting potential. The kitchen includes all the modern conveniences of a new oven, gas cooktop, microwave, dishwasher and even Meile washerdryer. The home is fully insulated and ready to move into. Infrastructure in place includes a large15 x 8.5 metre almost brand new shed with concrete floor and power, being used as a studio at present, a smaller garden shed, new kangaroo fenced paddocks, abundant water storage of almost 90,000 litres, new septic tank system, new 3kw solar panel system, all the hard work has been done here. The grounds include fruiting Lilly Pilly trees, cherry trees, a completely fenced veggie patch, expansive lawned areas, established Blackwood trees, abundant wildlife including a large migrating bird population that passes through the island every season. The Cottage is just 3 minutes away from Quarantine Bay and Whistler Point, the islands favoured recreational swimming, diving, boating and fishing location due to its large bay and protected waters and its accessibility all year round. This property is located only 20 minutes from the King Island Airport, 25 minutes from the main township of Currie, 10 minutes from two of the best golf courses in Australia and minutes from some of the best surf beaches in the world, a wonderful place to live, work or play. King Island boasts unspoiled beaches, renowned surf coast, forest walks, exhibitions, resident artists, cafes, restaurants, the infamous King Island Dairy and Cheese, coveted King Island Lobster, celebrated King Island Beef, and much more, including a diverse and welcoming community, substantial infrastructure in place including hospital, early learning and childcare centers. The Cottage King Island offers an opportunity to secure the perfect holiday home, tourism venture, artists retreat or permanent home in a pristine and stunning location. For further information or to arrange a private inspection, please contact Sue Gratton on 0407599559 or email suecircaheritageandlifestyle.com.au."
Below are some similar properties in the area you may be interested in.
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64.3%
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445.1%
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Asking Price
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Estimated Purchase Price
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Stamp Duty
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Transfer Fee
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Conveyancing
$1,847
Deposit (10%)
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Reg. Mortgage
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LMI Premium
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Renovation Costs
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Total Cash/Equity Required
$2,397
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$21,840
$31,085
Property Management
+8.8% PA
$1,922
$2,735
Rates
+3.0% PA
$1,477
$1,927
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
$15,241
$22,247
Interest Repayments
-
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Net Cashflow Before Tax
$15,241
$22,247
Depreciation
-
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Tax Offset
$4,572
$6,674
Net Cashflow After Tax
$10,669
$15,573
Assumptions
Year 1
Year 10
Property Value
6.8%
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Loan Balance
I.O
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2021 Population
Suburbs
Agriculture, Forestry and Fishing - 26.0%
Manufacturing - 13.0%
Health Care and Social Assistance - 8.0%
Retail Trade - 7.0%
Others - 46.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price