$3.1M
$593,991
"Discover a tranquil luxury property with spectacular views of Hanging Rock in the picturesque hamlet of Newham. Cedar Rise is a sprawling 10acre estate that radiates charm, peace and good design. At the heart of this picturesque property stands a remarkable main residence spanning approximately 41 squares, designed with a flexible floor plan for intergenerational living. Divided into two distinct wings, it boasts three bedrooms in the main house and a twobed self contained multi purpose wing. Two additional dwellings Hanging Rock House and The Barn House offer enchanting standalone accommodation with gorgeous views, each featuring two bedrooms two bathrooms and open plan living spaces. These handsome residences currently generate income as highly sought after short term accommodation. Inside, the light filled residence exudes space and comfort with herringbone parquetry flooring, dado walls and cove ceilings. Floor to ceiling windows frame panoramic views of Hanging Rock. Hydronic heating in the main house and a solid fuel heater in the guest wing ensure year round comfort. Flowing from the kitchen and family room there is a library complete with stone fireplace and floor to ceiling bookshelves. The essence of Cedar Rise is captured within its sheltered rear garden, perfect for hosting gatherings beneath a canopy of mature trees and stone walls which abound on the property. Outdoor living is embraced with numerous entertaining areas, secluded nooks and garden rooms adorned with foliage and stone walls complimented by a stone chicken house, double garage and carport. The property is self sufficient with ample water from a bore and multiple tanks. The property offers two fenced paddocks for livestock with bore fed water trough. Cedar Rise is close to Newham General store and Hanging Rock winery and 10 minutes from Woodend and Kyneton, and invites you to a life of serenity and connection with nature."
Below are some similar properties in the area you may be interested in.
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87.6%
$994K
3.7%
-$700,000
-$112,947
1.7%
1.5%
-16.3%
6.0%
Asking Price
$3,600,000
Estimated Purchase Price
$3,600,000
Stamp Duty
$214,000
Transfer Fee
$3,616
Conveyancing
$1,196
Deposit (10%)
$360,000
Reg. Mortgage
$129
LMI Premium
$112,645
Renovation Costs
-
Total Cash/Equity Required
$692,136
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$62,400
$88,815
Property Management
+7.7% PA
$4,805
$6,839
Rates
+3.0% PA
$1,843
$2,405
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
$52,487
$75,311
Interest Repayments
$213,840
$213,840
Net Cashflow Before Tax
-$161,353
-$138,529
Depreciation
-
-
Tax Offset
-$48,406
-$41,559
Net Cashflow After Tax
-$112,947
-$96,970
Assumptions
Year 1
Year 10
Property Value
6.8%
$3,097,200
$5,599,001
Loan Balance
I.O
$3,240,000
$3,240,000
-$142,800
$2,359,001
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 - 12.0%
Retail Trade - 11.0%
Education and Training - 11.0%
Construction - 9.0%
Others - 57.0%
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