$820K
$138,282
"This semirural property, located just 10 minutes from Colac, offers an inviting combination of space and comfort on approximately 4.2 acres. The double brick home is thoughtfully designed with an openplan layout that merges the living, dining, and kitchen areas, creating a seamless flow throughout. The living area is enhanced by a striking cathedral ceiling, while the family room features both a split system and a fireplace, ensuring comfort in every season. The kitchen, with its practical slate flooring, is wellappointed with modern conveniences, including a dishwasher, electric hot plates, and a wall oven, making it both functional and practical, with plenty of cabinetry and a corner pantry. The home comprises four spacious double bedrooms, providing ample accommodation for family and guests alike. The master bedroom benefits from a private ensuite, adding a touch of luxury to the living experience. An additional highlight of the property is the impressive 12x5 metre man cave, accessible from the garage. This space is perfect for entertaining, complete with a builtin bar, a fireplace, a split system and is fully insulated to ensure comfort yearround. An undercover area extends from the man cave, providing an excellent outdoor space for gatherings. Adjacent to this, another room with a sink and separate toilet offers further convenience and versatility. Storage and workspace are well catered for, with a double garage and a 3bay shed equipped with power, offering plenty of room for vehicles, tools, or hobbies. The property is connected to town water and also features a water tank off the shedding, providing both reliability and efficiency. Situated on the edge of town, this property is ideal for families seeking a tranquil lifestyle with the convenience of nearby amenities, offering the perfect setting to live, play, and enjoy the best of both rural and town living. All information about the property has been provided to Richardson Real Estate by third parties. Richardson Real Estate 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 this property."
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Asking Price
$820,000
Estimated Purchase Price
$760,000
Stamp Duty
$40,670
Transfer Fee
$1,884
Conveyancing
$1,196
Deposit (10%)
$76,000
Reg. Mortgage
$129
LMI Premium
$21,670
Renovation Costs
-
Total Cash/Equity Required
$142,099
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$41,600
$59,210
Property Management
+7.7% PA
$3,203
$4,559
Rates
+3.0% PA
$1,811
$2,363
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
$33,321
$48,028
Interest Repayments
$45,144
$45,144
Net Cashflow Before Tax
-$11,823
$2,884
Depreciation
-
-
Tax Offset
-$3,547
$865
Net Cashflow After Tax
-$8,276
$2,019
Assumptions
Year 1
Year 10
Property Value
6.8%
$907,800
$1,641,086
Loan Balance
I.O
$684,000
$684,000
$223,800
$957,086
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2021 Population
Suburbs
Manufacturing - 14.0%
Health Care and Social Assistance - 13.0%
Agriculture, Forestry and Fishing - 12.0%
Retail Trade - 9.0%
Others - 52.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price