120 Spencer Street
50 days on Market

120 Spencer Street,
Sebastopol, Vic

house
First listed on 04/12/2024
Property Overview
Bedrooms3
Bathrooms1
Car Spaces1
Current Asking Price

$400K

Cash Required (10% Deposit)

$73,595

Agent

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Market Appraisal

Confidence

High

High

$440,000

Medium

$410,000

Low

$380,000

Appraised Rent

Confidence

Medium

$360/week

Original Listing

Street Statistics

Public Housing (%)

4.8%

Owner Occupiers (%)

65.5%

Median Street Sold Price

$400K

Median Street Rental Yield

5%

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Property Investment Scores

Property

Configuration

Very Good

Street

Sweet Spot

Average

Suburb

Proj. Growth

Very Good

Overall

Investment

Very Good

Under Market Value

-$5,000

Net Cashflow PA

-$8,760

Gross Yield

4.5%

Purchase Costs

Asking Price

$400,000

Estimated Purchase Price

$415,000

Stamp Duty

$19,970

Transfer Fee

$1,077

Conveyancing

$1,196

Deposit (10%)

$41,500

Reg. Mortgage

$129

LMI Premium

$9,174

Renovation Costs

-

Total Cash/Equity Required

$73,595

Income Statement (Cashflow)

Income

Assumptions

Year 1

Year 10

Rent Received

+4.0% PA

$18,720

$26,644

Expenses

Property Management

+7.7% PA

$1,441

$2,052

Rates

+3.0% PA

$1,877

$2,449

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

$12,137

$17,884

Interest Repayments

$24,651

$24,651

Net Cashflow Before Tax

-$12,514

-$6,767

Depreciation

-

-

Tax Offset

-$3,754

-$2,030

Net Cashflow After Tax

-$8,760

-$4,737

Balance Sheet

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Assets

Assumptions

Year 1

Year 10

Property Value

6.8%

$437,880

$791,583

Liabilities

Loan Balance

I.O

$373,500

$373,500

Net Equity

$64,380

$418,083

Property Inspection Report

Property Overview

Discover this affordable brick home perfectly located on a quiet street with access to schools, supermarkets, and public transport. Featuring three bedrooms with built-in robes and a north-facing, light-filled living area, this home ensures comfort with gas heating and reverse-cycle cooling. A functional kitchen and bathroom, alongside an oversized single lockup garage, complement the 634m² secure allotment. Currently leased until February 2025, offering a prime investment opportunity. Positioned less than 10 minutes from Ballarat CBD, with potential for value-adding renovations.

Inspection Checklist

  • Verify condition of brickwork and home structure.
  • Inspect size and state of built-in robes in bedrooms.
  • Assess the natural lighting in the living area throughout the day.
  • Evaluate the functionality of the kitchen appliances and fixtures.
  • Check the heating and cooling systems are operational.
  • Inspect the garage for additional space and condition.
  • Measure the total land area to ensure it matches 634m² claim.
  • Explore possibilities for additional shedding.
  • Assess proximity and convenience of nearby schools and services.
  • Review the terms and condition of the existing lease agreement.

Questions for Agent

  • Can you provide more details on the current lease agreement, including rental terms and tenant reliability?
  • What are the typical utility costs for this home, given its current systems and appliances?
  • Are there any recent or planned developments in the area that might affect property value?
  • What renovations have been done recently, and what scope exists for further improvements?
  • Can you clarify the state of the internal and external property, especially the kitchen and bathroom?
  • What assurances are there regarding the structural integrity of the building?
  • Could you provide more information on the public transport options available nearby?
  • What is the demographic of the neighborhood, and are there any notable community activities?
  • What security measures are in place for the property, given its size and location?
  • Are there any additional costs or fees we should be aware of, including council rates or homeowner association dues?
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Location Opportunity

City of Ballarat statistics

Location, Location, Location. Selecting an investment location set to grow, gentrify and prosper can set our investments up for success. So how do we find these High Performance locations across Australia? Property Investment is a science. Our Data Scientists have analyzed the most important factors that help identify when an area is set up for strong investment opportunities.

113,763

2021 Population

56

Suburbs

Demand

Employment

Em

New project

Pr

lifestyle

Li

population

Po

Supply

New Supply

Su

Opportunity

Opportunity

Op

Em

Employment Industries
Average

Health Care and Social Assistance - 19.0%

Retail Trade - 12.0%

Education and Training - 11.0%

Manufacturing - 9.0%

Others - 49.0%

income growth
Average

Average Income

COMMUTE TIME

26mins

13kms

Good

Pr

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Spent Per Capita

$13K
1

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4

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5

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6

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Energy, Electricity, Gas & WaterUnder consideration
$40M
7

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Proposed upgrade to the gas pipeline network to improve supply and reliability

Energy, Electricity, Gas & WaterUnder consideration
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8

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9

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10

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MiningUnder consideration
$25M
11

Victorian Government

The Ballarat Base Hospital Redevelopment will deliver a new hospital with increased capacity and modern facilities

Community & Other servicesUnder construction
$105M
12

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The Ballarat GovHub will bring together government agencies and services in a single location improving service delivery and efficiency

Community & Other servicesConfirmed
$100M
13

Victorian Government

The Ballarat Station Precinct Redevelopment will transform the station area into a vibrant and accessible hub improving transport links and community facilities

Community & Other servicesUnder consideration
$50M
14

City of Ballarat

The Eureka Stadium Redevelopment has delivered a worldclass sports facility hosting various events and activities for the local community

Community & Other servicesComplete
$30M
15

Healthscope

The Ballarat Private Hospital Expansion project involves the construction of a new wing including additional operating theatres inpatient rooms and a new day surgery unit

HealthConfirmed
$30M
16

Grampians Health

The Grampians Health Mental Health Facility project involves the construction of a new mental health facility including inpatient units outpatient services and a crisis centre

HealthUnder consideration
$25M
17

Victorian Government

The BWEZ Intermodal Freight Terminal project involves the development of a new intermodal freight terminal in the Ballarat West Employment Zone which will provide improved freight handling and logistics facilities for the region

Transport & StorageConfirmed
$30M
18

City of Ballarat

The Ballarat Airport Upgrade project involves the upgrade of the Ballarat Airport including the extension of the runway improved terminal facilities and enhanced aviation infrastructure

Transport & StorageUnder consideration
$25M
19

Private Developer

A proposed 25 million development of a new town centre in Lucas featuring a mix of retail office and residential space

Mixed useUnder consideration
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20

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A proposed 40 million revitalisation of the Ballarat CBD featuring a mix of public space upgrades retail and office developments and improved public transport facilities

Mixed useUnder consideration
$40M
21

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The Sovereign Hill Hotel and Convention Centre project involves the development of a new hotel and convention centre at Sovereign Hill a popular tourist destination in Ballarat

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22

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24

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26

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29

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31

Victorian Government

The Ballarat Link Road will improve connectivity and reduce congestion enhancing the regions transport network

GovernmentUnder consideration
$40M

Li

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Local Services

Good

1

Albert St/Giffard St

Bus Stop

2km
2

Woolworths

Supermarket

6km
3

Coles

Supermarket

6km
4

Bunnings

Shopping Centre

9km
5

Bunnings

Shopping Centre

11km
6

Avalon Airport

Airport

85km
7

Melbourne Airport

Airport

96km
8

Ballarat Day Procedure Centre

Hospital

7km
9

Ballarat Surgicentre

Hospital

8km
10

Miners Rest Primary School

School

2km
11

Yuille Park P-8 Community College

School

5km
12

Our Lady Help of Christians School

School

5km
13

Federation University Mt Rowan Campus

University

6km
14

Australian Catholic University, Ballarat Campus

University

9km

Po

Population Growth

Average Population

SUPPLY vs POPULATION
Under Supply

Projected Population Growth

6.5%

projected

for 2025 to 2027

Very High

Su

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Disclaimer: A dash (’-’) indicates that there is not enough data in this area over the past 12 months to provide accurate calculations for certain metrics.

Recent New Home Construction

2.4%

High
SALES PRICE GROWTH

Monthly % Change in Median House Prices (Prev. Quarter)

RENTAL YIELD
Excellent

Average Rental Yield

VACANCY RATE
Excellent

Average Vacancy Rate

Days of Supply
Very Good

Average Days of Supply

Owner Occupier Level

No data available

VENDOR DISCOUNTING
Very Good

Average Population

Pricing

Sold Price

Asking Price

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