$1.25M
$261,347
"This propertys high visibility location, proximity to Burwood East sports grounds, and approximately 605 sqm building envelope make it perfectly suited to redevelopment, either as a luxury home or multiunit site. Favourable zoning and neighbourhood development precedence will work in your favour, encouraging future purchasers to take advantage of the areas fantastic bluechip amenity. Alternatively, the propertys comfortable design favours restoration and renewal, with features such as original hardwood flooring and rear eastfacing perspectives ideal for the livedin experience. Further features include three large bedrooms with BIR, kitchen, bathroom, laundry, and rear alfresco area. Seen from both an investment perspective or homeownership point of view, this property represents a significant opportunity for renewal, or redevelopment STCA. The 732 bus to Box Hill and Upper Ferntree Gully, and the 71tram to the city and Deakin University, sit just outside the door. Retail opportunities include close proximity to Vermont South SC, Burwood One SC, and Forest Hill Chase. Be early to inspect"
Below are some similar properties in the area you may be interested in.
-
84.9%
-
-
-$115,000
-$41,546
1.8%
1.3%
-17.3%
6.0%
Asking Price
$1,150,000
Estimated Purchase Price
$1,265,000
Stamp Duty
$69,575
Transfer Fee
$3,066
Conveyancing
$1,196
Deposit (10%)
$126,500
Reg. Mortgage
$129
LMI Premium
$39,582
Renovation Costs
-
Total Cash/Equity Required
$240,598
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$22,360
$31,825
Property Management
+7.7% PA
$1,722
$2,451
Rates
+3.0% PA
$1,584
$2,067
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
$15,789
$23,048
Interest Repayments
$75,141
$75,141
Net Cashflow Before Tax
-$59,352
-$52,093
Depreciation
-
-
Tax Offset
-$17,806
-$15,628
Net Cashflow After Tax
-$41,546
-$36,465
Assumptions
Year 1
Year 10
Property Value
6.8%
$1,228,200
$2,220,293
Loan Balance
I.O
$1,138,500
$1,138,500
$89,700
$1,081,793
Did you know you need to engage a conveyancer when buying a property?
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2021 Population
Suburbs
Health Care and Social Assistance - 18.0%
Education and Training - 12.0%
Retail Trade - 11.0%
Professional, Scientific and Technical Services - 8.0%
Others - 51.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Days of Supply
Sold Price
Asking Price