$495K
$81,259
"This charming property in South Launceston combines strong street presence with a blend of modern updates and character filled features, making it an ideal choice for investors, families or those seeking a stylish home close to the city. With a striking faade and fresh interiors, the home exudes charm from the moment you arrive. Inside, youll find three well proportioned bedrooms. The two front bedrooms are generously sized, offering plenty of natural light and space for a relaxing retreat. At the rear of the home, the third bedroom boasts panoramic views over the city, making it a standout feature. Whether used as a guest room, office, or peaceful area just for you, this space offers a unique vantage point of Launcestons stunning cityscape. The heart of the home lies in its living and dining areas, which flow effortlessly into one another through dual sliding doors. Both rooms retain their original fireplace mantels, adding a touch of character and history. Take a look outside, as each room provide beautiful views, creating a bright and welcoming atmosphere where modern comfort meets traditional charm. The kitchen is practical and spacious, with ample storage and room for additional seating, offering flexibility with the potential to further enhance this space and make it the perfect hub for culinary creativity. Take a look outside, where youll find under house access a handy storage area and dedicated laundry, maximising space and functionality. The backyard is a substantial, tiered blank canvas, offering endless potential for landscaping, gardening or creating your own outdoor living area. Whether you envision a lush garden oasis or a low maintenance entertainment zone, this space is ready for your creative touch. Additional features of this home include ducted gas heating throughout for year round comfort, a single car garage for secure parking that opens through to the yard where you can find extra parking, brand new carpeting and freshly painted interiors that give the home a crisp, refreshed feel. To further enhance the property is its appealing location. Just an 8 minute drive to Launcestons CBD and only 5 minutes to the Kings Meadows Complex, this location offers you access to almost everything you could desire. With a variety of shops, cafes, entertainment options and essential services at your fingertips. Combining charm, modern features and potential for further improvements, this home offers you an exceptional opportunity"
Below are some similar properties in the area you may be interested in.
-
46.6%
$560K
4.6%
$5,000
-$10,342
4.4%
3.0%
-12.7%
6.0%
Asking Price
$495,000
Estimated Purchase Price
$495,000
Stamp Duty
$18,035
Transfer Fee
$233
Conveyancing
$1,847
Deposit (10%)
$49,500
Reg. Mortgage
$152
LMI Premium
$10,943
Renovation Costs
-
Total Cash/Equity Required
$81,260
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
$2,089
$2,726
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
$14,629
$21,449
Interest Repayments
$29,403
$29,403
Net Cashflow Before Tax
-$14,774
-$7,954
Depreciation
-
-
Tax Offset
-$4,432
-$2,386
Net Cashflow After Tax
-$10,342
-$5,568
Assumptions
Year 1
Year 10
Property Value
6.8%
$534,000
$965,345
Loan Balance
I.O
$445,500
$445,500
$88,500
$519,845
Did you know you need to engage a conveyancer when buying a property?
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2021 Population
Suburbs
Health Care and Social Assistance - 18.0%
Retail Trade - 14.0%
Education and Training - 11.0%
Accommodation and Food Services - 8.0%
Others - 49.0%
Average Income
Average Population
projected
for 2024 to 2026
Average Vacancy Rate
Average Days of Supply