$375K
$72,673
"Acreage, location and with view of Kangaroo Lake, 88 Gorton Drive is an opportunity with potential not to be missed. Set on approximately four acres, the property is well fenced and includes 1MGL of high reliability water. The property is within close proximity to the boat ramp, parklands along the lake frontage and Murray Valley Highway allowing easy access to neighbouring towns. While the internal of the home needs restorations, you will have plenty of potential to work with. The home is structurally sound with recent on going improvements such as all plumbing and electrical replaced, meter box updated and repositioned to the exterior with the inclusion of a generator outlet and plastering of the kitchen, loungedining area and foyer entrance. Features include raised ceilings and wide a hallway leading to all four spacious bedrooms. Complimenting the property is the machinery shed."
Below are some similar properties in the area you may be interested in.
-
82.5%
$372K
5.5%
-$75,000
-$9,086
4.2%
2.6%
-13.0%
6.0%
Asking Price
$375,000
Estimated Purchase Price
$395,000
Stamp Duty
$18,770
Transfer Fee
$1,030
Conveyancing
$1,196
Deposit (10%)
$39,500
Reg. Mortgage
$129
LMI Premium
$8,732
Renovation Costs
-
Total Cash/Equity Required
$69,906
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$16,640
$23,684
Property Management
+7.7% PA
$1,281
$1,824
Rates
+3.0% PA
$1,611
$2,102
Water
+3.0% PA
$1,015
$1,324
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$10,483
$15,498
Interest Repayments
$23,463
$23,463
Net Cashflow Before Tax
-$12,980
-$7,965
Depreciation
-
-
Tax Offset
-$3,894
-$2,389
Net Cashflow After Tax
-$9,086
-$5,575
Assumptions
Year 1
Year 10
Property Value
6.8%
$341,760
$617,821
Loan Balance
I.O
$355,500
$355,500
-$13,740
$262,321
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2021 Population
Suburbs
Agriculture, Forestry and Fishing - 27.0%
Health Care and Social Assistance - 12.0%
Retail Trade - 10.0%
Manufacturing - 6.0%
Others - 45.0%
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