$490K
$87,428
"Discover the charm of this doublebrick home, built 39 years ago by a reputable Melbourne builder. Featuring an openplan loftstyle design, the upper level accessed via a solid wood staircase offers flexible living options with two bedrooms or one bedroom and a spacious walkin robe. The kitchen is equipped with stone benchtops, electric cooking, a dishwasher, and a pantry, all complemented by pinelined ceilings and hardwood floorboards. The renovated bathroom incorporates a convenient laundry, walkin shower, and toilet. Cozy up next to the solid wood heater or unwind by the open fireplace with a glass of red wine on a chilly winter night. Enjoy magical sunsets and majestic Otway views from the enclosed westfacing entertaining area. Additional features include satellite internet via Sky Mesh, ample rainwater storage, a wraparound veranda, and a onecar garage. Set on a 1,012 m approx. fully fenced lot, this property is ideally located on the Great Ocean Road, within walking distance of restaurants, caf, Lavers Hill P12 School, and just a short drive from top Otway attractions. With its prime location and solid construction, this home offers endless potential and opportunities at the top of the Otways."
Below are some similar properties in the area you may be interested in.
-
81.2%
$450K
3.5%
-$50,000
+
26.0%
23.0%
66.8%
6.0%
Asking Price
$500,000
Estimated Purchase Price
$500,000
Stamp Duty
$25,070
Transfer Fee
$1,276
Conveyancing
$1,196
Deposit (10%)
$50,000
Reg. Mortgage
$129
LMI Premium
$11,053
Renovation Costs
-
Total Cash/Equity Required
$89,273
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$130,000
$185,031
Property Management
+7.7% PA
$10,010
$14,247
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
$114,914
$164,160
Interest Repayments
$29,700
$29,700
Net Cashflow Before Tax
$85,214
$134,460
Depreciation
-
-
Tax Offset
$25,564
$40,338
Net Cashflow After Tax
$59,650
$94,122
Assumptions
Year 1
Year 10
Property Value
6.8%
$480,600
$868,810
Loan Balance
I.O
$450,000
$450,000
$30,600
$418,810
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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