$2.5M
$525,289
"Offered for the first time in over 40 years, a rare and exquisite example of what made Melbourne marvelous in the 1880s, this historically significant four bedroom plus study residence captures the transition from Victorian Italianate to Queen Annestyle architecture and presides grandly over a remarkable 872 square metre allotment approx.. An icon of the area and with origins as a renowned dairy farm, the home was once known as Tower House at the heart of what was The Tower Hill Estate and today represents a unique opportunity to secure a slice of Boroondaras rich and diverse history. Set well back from the road and introduced via a tessellated return veranda, the home opens to a broad hallway also with tessellated tiling and set under soaring 4.8 metre ceilings of exquisite detail. Flowing through a traditional lounge with an open fireplace and a semiattached dining study, the home continues past a sitting family room to culminate in a more contemporary openplan rear. Here, a less formal meals living area is underpinned by a granitetopped kitchen and a bank of concertina doors extend the space outdoors to a vast deck with its alluring prospect of a sumptuous alfresco lifestyle. Resplendent with original Baltic Pine flooring, exposed bluestone, leadlight windows and an arched hallway, the home is distinguished by a unique tower rising above its roofline and revealing 36o views of southeastern Melbourne. Further highlights of this onceinalifetime home include a second side entrance and second kitchenutility room dating back to when the home operated as a pair of residences, plus there are two bathrooms, a laundry, secure driveway parking for four vehicles and a wine cellar that has also been completed with tessellated tiling and more exposed bluestone. Destined to reward in this blueribbon location on the cusp of all the cafes, shopping, dining and villagelike charm of Ashburton, plus you have Ashburton and Glen Iris Railway Station nearby for easy access to the CBD and a selection of elite private schools."
Below are some similar properties in the area you may be interested in.
-
76.7%
$2.76M
2.4%
-$620,000
-$93,103
2.0%
1.7%
-15.6%
6.0%
Asking Price
$2,900,000
Estimated Purchase Price
$3,120,000
Stamp Duty
$182,800
Transfer Fee
$3,616
Conveyancing
$1,196
Deposit (10%)
$312,000
Reg. Mortgage
$129
LMI Premium
$97,626
Renovation Costs
-
Total Cash/Equity Required
$597,917
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
$2,006
$2,617
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
$52,324
$75,098
Interest Repayments
$185,328
$185,328
Net Cashflow Before Tax
-$133,004
-$110,230
Depreciation
-
-
Tax Offset
-$39,901
-$33,069
Net Cashflow After Tax
-$93,103
-$77,161
Assumptions
Year 1
Year 10
Property Value
6.8%
$2,670,000
$4,826,725
Loan Balance
I.O
$2,808,000
$2,808,000
-$138,000
$2,018,725
Did you know you need to engage a conveyancer when buying a property?
Request a free contract reviewLocation, 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.
2021 Population
Suburbs
Education and Training - 15.0%
Health Care and Social Assistance - 15.0%
Professional, Scientific and Technical Services - 14.0%
Retail Trade - 13.0%
Others - 43.0%
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