$545K
$114,425
"Renovators have a fantastic opportunity in this quiet residential area, conveniently located just a short walk away from the popular Hepburn Springs village, the Primary School and kindergarten, Golf Course, cafes, walking tracks, the renowned Hepburn Bathhouse, and just 5 minutes away from Daylesford township. Although the house requires considerable renovation, this undertaking is well worth it as it presents a great investment opportunity. With the right improvements, this property has the potential to become a beautiful and desirable country home. With its close proximity to Spring Creek bushland gully and outlook to the hills of Elevated Plains, the house features three large bedrooms, living room with a cosy wood fire and a split system for climate control, and a spacious kitchen with enough room to accommodate a welcoming country dining table. Additionally, there is a sizable steel lockup garage, providing secure parking and storageworkshop space. The residence is sited on a large block of approximately 960 sqm level at the front and sloping towards the rear offering ample space and the potential to extend the existing house with living and deck areas subject to Council approval. Investors or homeowners looking to transform a property and add value will find this opportunity particularly enticing. The proximity to essential facilities, recreational activities and natural attractions, combined with the spacious block and potential for extension, make this property an appealing option for those seeking to create their dream home."
Below are some similar properties in the area you may be interested in.
1.8%
79.3%
$745K
3%
$190,000
-$12,587
4.0%
2.9%
-11.6%
6.0%
Asking Price
$545,000
Estimated Purchase Price
$585,000
Stamp Duty
$30,170
Transfer Fee
$1,475
Conveyancing
$1,196
Deposit (10%)
$58,500
Reg. Mortgage
$129
LMI Premium
$16,681
Renovation Costs
-
Total Cash/Equity Required
$108,700
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$23,400
$33,305
Property Management
+7.7% PA
$1,802
$2,565
Rates
+3.0% PA
$1,566
$2,043
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
$16,767
$24,438
Interest Repayments
$34,749
$34,749
Net Cashflow Before Tax
-$17,982
-$10,311
Depreciation
-
-
Tax Offset
-$5,395
-$3,093
Net Cashflow After Tax
-$12,587
-$7,218
Assumptions
Year 1
Year 10
Property Value
6.8%
$827,700
$1,496,285
Loan Balance
I.O
$526,500
$526,500
$301,200
$969,785
Did you know you need to engage a conveyancer when buying a property?
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2021 Population
Suburbs
Accommodation and Food Services - 16.0%
Health Care and Social Assistance - 15.0%
Retail Trade - 11.0%
Agriculture, Forestry and Fishing - 10.0%
Others - 48.0%
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