$495K
$93,884
"This is a unique opportunity to purchase a property that has plenty of options. With a spacious 2bedroom residence at the rear of the property surrounded by beautiful gardens and plenty of privacy, and a commercial shop front on the main street, previously known as the iconic Avenel Meats. Options could be Reside in the residence at the rear, and maybe open your own shop at the front, or lease the shop front out. Keep the current tenant in place at the rear, and lease the front shop purchase as an investment The front shop vacant is a blank canvas for any type of business, though previously run as a very successful high quality Butcher Shop. Front Shop Front includes 2 cool rooms, 2 reverse cycle split systems, 2 display fridges, preparation room with stainless steel sink, 2 storerooms and toilet facilities. The rear residence is a 2bedroom, 1 bathroom home with an open plan design with separate laundry. A spacious rear yard quaint front garden with picket fence. This is a property that offers plenty of opens and potential"
Below are some similar properties in the area you may be interested in.
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78.9%
$605K
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-$10,000
-$13,104
3.6%
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-14.2%
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Asking Price
$495,000
Estimated Purchase Price
$515,000
Stamp Duty
$25,970
Transfer Fee
$1,311
Conveyancing
$1,196
Deposit (10%)
$51,500
Reg. Mortgage
$129
LMI Premium
$11,385
Renovation Costs
-
Total Cash/Equity Required
$92,040
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$18,720
$26,644
Property Management
+7.7% PA
$1,441
$2,052
Rates
+3.0% PA
$2,142
$2,795
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
$11,872
$17,538
Interest Repayments
$30,591
$30,591
Net Cashflow Before Tax
-$18,719
-$13,053
Depreciation
-
-
Tax Offset
-$5,616
-$3,916
Net Cashflow After Tax
-$13,104
-$9,137
Assumptions
Year 1
Year 10
Property Value
6.8%
$539,340
$974,998
Loan Balance
I.O
$463,500
$463,500
$75,840
$511,498
Did you know you need to engage a conveyancer when buying a property?
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2021 Population
Suburbs
Agriculture, Forestry and Fishing - 25.0%
Manufacturing - 9.0%
Health Care and Social Assistance - 9.0%
Accommodation and Food Services - 8.0%
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