$490K
$78,790
Confidence
High
High
$580,000
Medium
$550,000
Low
$520,000
Confidence
Medium
"This property presents an exceptional opportunity for buyers with a keen eye for potential. Perfectly positioned just a short 5minute drive from the city centre and close to all essential services, this home is ready for a stylish makeover. While it requires some cosmetic upgrades, the possibilities for creating your ideal living space or a valuable investment property are boundless and you can choose to move in and live or add additional equity overtime. Key Features Renovation Potential Boasting three bedrooms, all with builtin wardrobes, and an openplan living area, this home provides a solid foundation for your renovation ambitions. An additional sunroom at the rear, currently used as a fourth bedroom, offers flexibility in how you utilise the space. With substantial heating provided by an electric heater and a heat pump, this property is ready for a thoughtful update that can elevate its appeal and functionality. Outdoor Space The fully fenced, level backyard offers a blank canvas for your landscaping dreams. Whether you envision a familyfriendly garden or an entertainers paradise, this space has the potential to be transformed into a true outdoor retreat. The large living area opens onto a deck, creating a perfect spot for alfresco dining and relaxation. Abundant offstreet parking and a single carport and garage add convenience and storage options. Prime Location Situated in a highly desirable suburb in Lutana, this property is close to the CBD, schools, shopping centres, and public transport. There is nearby access to many parks and a golf course. The location alone adds significant value, making it a smart choice for those looking to invest in a property with growth potential. A Canvas for Your Vision This home is ideal for buyers looking to break into the market or those seeking a project where they can add substantial value. With a little vision and effort, this property has the potential to be transformed back into a stunning family home or a lucrative investment. The property is currently rented for 480 per week with immediate scope to improve. If youre ready to roll up your sleeves and create something truly special, this property is waiting for you to bring your ideas to life. Dont miss out on this opportunity to shape a property to match your visionschedule your viewing today"
2.6%
57.5%
$609K
4.8%
$70,000
-$8,549
4.9%
3.4%
-10.8%
6.0%
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewAsking Price
$490,000
Estimated Purchase Price
$480,000
Stamp Duty
$17,398
Transfer Fee
$233
Conveyancing
$1,847
Deposit (10%)
$48,000
Reg. Mortgage
$152
LMI Premium
$10,611
Renovation Costs
-
Total Cash/Equity Required
$78,791
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$23,400
$33,305
Property Management
+8.8% PA
$2,059
$2,931
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
$16,300
$23,797
Interest Repayments
$28,512
$28,512
Net Cashflow Before Tax
-$12,212
-$4,715
Depreciation
-
-
Tax Offset
-$3,664
-$1,414
Net Cashflow After Tax
-$8,549
-$3,300
Assumptions
Year 1
Year 10
Property Value
6.8%
$587,400
$1,061,879
Loan Balance
I.O
$432,000
$432,000
$155,400
$629,879
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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
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