$990K
$212,303
"Reside or invest to land bank, rent out and reap future benefits for redevelopment S.T.C.A. French Doors, stunning polished timber floors and a spacious sunroom with built in storage. Dual access gates on both side boundaries enable vehicle access to the rear yard or secure onsite parking for multiple vehicles, boat, caravan or access to further develop the rear of the property S.T.C.A.. Capitalize on this Residential Growth Zone with an increased dwelling height to apx 13.5mtrs, or with the large block extend the existing home, subject to council approval S.T.C.A. Partial partitioning fencing allowing storage and utility area to be blocked from view from the home with apx 3 x 3mtr steel storage shed and more undercover dry storage area. Australian Homestead Style Veranda with Leafy Outlook Ornate Leadlight Timber Front Door and Surrounding Facades 3 Bedrooms or Remodel the Sunroom to Create a 4th Bedroom Ensuite and Walk in Robe to Main Bedroom with Ceiling Fan Open Fire Place in Spacious Main Bedroom with Natural Stone Faade and Hearth Semi Open Plan provides Glass Sliding Partition with Central Ceiling Fan Inset Meridian Brand Wood Burner Fireplace Centrally Located in Dining Area Reverse Cycle Air Conditioning Centrally Located Polished Timber Floor Boards Throughout French Doors to 2nd Bedroom or Optional 2nd Lounge Room Spacious Sun RoomHome OfficeRecreation Room with Air Conditioner Cupboards Right Boundary Driveway Provides Access to Rear Yard Dual Occupancy Potential STCA Freestanding Garage Dry Storage Shedding x 3 Land Size Apx 886m2 Close proximity to Freeway access point leading to Eastlink, this emerging CBD location is being gentrified and provides an extremely convenient central lifestyle where you can leave the car at home and walk to services, restaurants, cafs, recreational activities and supermarkets. Within just a few kms to Monash University, Tafe College, PARC Swimming Centre, Frankston Library, Cinemas, Childminding Centres, Kananook Primary and Monterey High Schools, Shopping Centres and is the Gateway to The Mornington Peninsula. Contact Agent to book your inspection, or see OFI times."
1.7%
15.4%
$740K
3.4%
-$75,000
-$32,978
2.2%
1.6%
-16.3%
6.0%
Asking Price
$1,000,000
Estimated Purchase Price
$1,075,000
Stamp Duty
$59,125
Transfer Fee
$2,621
Conveyancing
$1,196
Deposit (10%)
$107,500
Reg. Mortgage
$129
LMI Premium
$30,652
Renovation Costs
-
Total Cash/Equity Required
$201,773
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
$1,589
$2,073
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
$16,744
$24,408
Interest Repayments
$63,855
$63,855
Net Cashflow Before Tax
-$47,111
-$39,447
Depreciation
-
-
Tax Offset
-$14,133
-$11,834
Net Cashflow After Tax
-$32,978
-$27,613
Assumptions
Year 1
Year 10
Property Value
6.8%
$1,068,000
$1,930,690
Loan Balance
I.O
$967,500
$967,500
$100,500
$963,190
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2021 Population
Suburbs
Health Care and Social Assistance - 20.0%
Retail Trade - 13.0%
Construction - 9.0%
Education and Training - 9.0%
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