$115K
$19,207
Confidence
High
High
$123,000
Medium
$117,500
Low
$112,000
Confidence
N/A
"Welcome to a rare and exceptional opportunity to own a piece of history and a large expansive block in the heart of Gormanston. This expansive vacant block of land, once home to the esteemed Gormanston Primary School, is now available for purchase. The site retains nostalgic remnants of its educational past, offering both a sense of history and a blank canvas for whatever your imagination can bring forward. The majority of the land has original cement floors, which also includes two basketball courts, which are ready for restoration. Land Size 4,204m2 Zoning Rural Water Septic Tank Required Power Available for Connection Council Rates Approximately 500 p.a This property offers a unique blend of history and potential, waiting for the right vision to bring it to life. Please call Rodney to discuss further, or to organise an inspection."
-
90%
-
-
$5,000
-$8,166
-
-
-42.5%
6.0%
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewAsking Price
$115,000
Estimated Purchase Price
$115,000
Stamp Duty
$2,960
Transfer Fee
$233
Conveyancing
$1,847
Deposit (10%)
$11,500
Reg. Mortgage
$152
LMI Premium
$1,965
Renovation Costs
-
Total Cash/Equity Required
$19,207
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
-
-
Property Management
+8.8% PA
-
-
Rates
+3.0% PA
$1,634
$2,132
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
-$4,834
-$6,307
Interest Repayments
$6,831
$6,831
Net Cashflow Before Tax
-$11,665
-$13,138
Depreciation
-
-
Tax Offset
-$3,500
-$3,941
Net Cashflow After Tax
-$8,166
-$9,197
Assumptions
Year 1
Year 10
Property Value
6.8%
$128,160
$231,683
Loan Balance
I.O
$103,500
$103,500
$24,660
$128,183
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2021 Population
Suburbs
Mining - 34.0%
Accommodation and Food Services - 12.0%
Education and Training - 7.0%
Retail Trade - 6.0%
Others - 41.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price