$740K
$143,053
"Nestled on a generous 660m allotment, this property comes with approved plans and permits for the construction of 2 units, presenting an outstanding opportunity for developers and investors. Its an ideal project for those looking to capitalize on a growing area. The existing residence features 3 spacious bedrooms, 2 bathrooms Builtin robes in all bedrooms, with a walkin robe and ensuite in the master A comfortable, lightfilled lounge area Alfresco space perfect for entertaining Schools Nearby Hallam Primary School, Southern Cross Primary School, Fountain Gate Primary School, Hallam Secondary College, and Fountain Gate Secondary College. Shopping Convenient access to Hallam Spring Square Shopping Centre, The Village Dandenong, and Westfield Fountain Gate. This is a rare find offering both immediate livability and exciting future potential. Dont miss this chance to secure your next investment or development project For all property viewings, please have photo identification available. Viewings can be attended as scheduled or arranged upon request. All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property. S.T.C.A Subject to Council Approval."
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1.9%
64.3%
$650K
4.6%
-$10,000
-$19,657
3.1%
2.2%
-13.9%
6.0%
Asking Price
$740,000
Estimated Purchase Price
$755,000
Stamp Duty
$40,370
Transfer Fee
$1,872
Conveyancing
$1,196
Deposit (10%)
$75,500
Reg. Mortgage
$129
LMI Premium
$21,528
Renovation Costs
-
Total Cash/Equity Required
$141,145
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
$1,567
$2,045
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
$16,766
$24,436
Interest Repayments
$44,847
$44,847
Net Cashflow Before Tax
-$28,081
-$20,411
Depreciation
-
-
Tax Offset
-$8,424
-$6,123
Net Cashflow After Tax
-$19,657
-$14,287
Assumptions
Year 1
Year 10
Property Value
6.8%
$795,660
$1,438,364
Loan Balance
I.O
$679,500
$679,500
$116,160
$758,864
Did you know you need to engage a conveyancer when buying a property?
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2021 Population
Suburbs
Retail Trade - 16.0%
Health Care and Social Assistance - 13.0%
Education and Training - 12.0%
Construction - 10.0%
Others - 49.0%
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